MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
Although business in the Stock Exchange continues to be of an unimport- ant character the market has become extremely sensitive, one or two specu- lative sales immediately counteracting the effect always produced by the purchases made by the Government Broker, whose investments aver- age 15,000/. daily ; there has been a great tendency to heaviness in English Securities the values of which exhibit a decline upon last week of 1 per cent ; this depression, however, has not seemed to arise from any positive or legi- timate cause, but solely from the nature of the majority of transactions, they being for the most part speculative. At the same time there is an in- creased demand for accommodation, but that has not immediately influenced the fall in Consols, seeing that there is still an abundant supply of money in the market, and loans negotiated at 221 per cent. The forthcoming Russian and Austrian Loans as also the announcement of the Victoria Railway Loan have into had some weight but no bargains of any significance have been entered in anticipation. Several of the 1eadin4 dealers have not yet returned from the Chnstmas holidays, and until there is a larger attend- ance of Members, and the Transfer Books open at the Bank, it is not pro- bable there will be much doing.
On Monday the " House " was closed, and on Tuesday prices were pre- cisely those of the previous Friday. On Wednesday and Thursday there was a slight increase of operations, but the tendency was downwards. Today there is no improvement, and the closing quotation of the New Three
Cents is 97 971, and India Debentures of the 1st issue, 991 991. -izi Stock, 224 226; Reduced, 97 97k; and Consols for the 11th of January, 961 961.
The only alteration worth noticing in the Foreign Stock Market has been the great depression in all the various Turkish Stocks ; the New Scrip was quoted last week..} discount to par ,• the settlement of the Account, it is pre- sumed, brought in a number of sellers, and the price was forced down to 2 discount. There has since been a partial rally to 11 discount, but the Mar- ket is still in a very sensitive state ; the last quotation being 11 11 discount. Turkish Six per Cents are 911 92, with a heavy market. In other Stocks, there is nothing whatever doing, and business is altogether dull and heavy. Money was in great demand in this market during the settlement, 6 per cent being offered freely for short loans. Venezuela Active closes 44 45; Grenada Active, 21 22; Buenos Ayres 85 87; Ditto, Deferred, 181 19; Chilian Scrip, par to 1 premium; Brazil, 9;12 91; Spanish Active, 47/ 48; Ditto, Certi- ficates, 61 61.
In the Railway Share Market there has been considerably more animation, and although this has been settling week, in which most transactions are in connection with arrangements for the Account, a large number of invest- ments have been made, and speculative purchases for the middle of January. There is a decided improvement in the tone of the market allround. Chester and Holyhead have advanced fully 2 per cent, and London and North-West- ern to the same extent, this mainly caused by the ratification of the agree- ment between the two companies. Midland and Great Western have each improved 11 and Caledonian per cent, and a rise in nearly all the remain- in lines will be observed. Edinburgh, Perth, and Dundee Shares leave off 21 281 ; Lancashire and Yorkshire 991 991 ; South-Eastern and Dover ; 2811. Miscellaneous Shares are also in many instances at higher rates. The Account passed over very satisfactorily. The French Market is dull, business almost at a stand still in consequence of the holidays, Northern of France 40 401; Paris and Strasbourg, 271 28. East Indian Stock is now 1081 109.
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