20 JUNE 1840, Page 10


gruel( EM11.1NOE, FRIDAY Arrxrewou.

The transactions in the English Funds have been unimportant, and the fluctuations have not been worth remarking ; Consols for Account having been quoted during, the whole week at 914 the price of this day. The other Eng- lish Stocks have been in a similar quiescent state ; and both Bank and India Stock have continued at the last quotations. Some anxiety was expressed for the arrival of the British queen steam-ship; and it was hoped that the cha- racter of the intelligence from America received on this occasion would have been more favourable than it turned out to be : for though a momentary im- pulse appears to haVe been given to the money-market at New York, it speedily relapsed into that state of pressure under which it has so long been suffering. We cannot, therefore, note any iinprovement in the American Securities cur- rent here, or any disposition for investment in them ; neither does it appear that there is any foundation for the rumour of the payment of a dividend upon the United States 13ank Sltares in July, to which we alluded some time ago, when noticing an improvement in these securities. The price of them has not varied for some time, but is nominally about 161. Money is not quite so much in demand as it has been ; the rate of commercial discounts being from 4 to 5 per cent.; while in the Stock Exchange it is obtainable at about the same rate upon the security of English and the dividend-paying Foreign Stock. Rates of interest varying from 15 to 20 per cent, were paid upon Spanish and Portuguese Bonds upon the occasion of the last settlement.

There have been but few transactions in the Foreign Funds; and the varia- tion in the prices of Russian, Dutch, and Belgian, has been unimportant. Spanish Active has experienced much fluctuation; and, from the causes to

which we alluded last week, was depressed on Monday (the settling-day) to 25a. The market, however, recovered iminediately to 2G;;, and has advanced to-day to 274. The exciting cause of this improvement has been a rise of 3 per cent. in the price of the - Local Stock at Madrid. Portuguese Bonds have not fluctuated in a similar degree ; and the market is firm at prices slightly in advance of these of last week.

Columbian have advanced nearly 2.1, per cent., and have been as high as 2$; but the price has since declined to 271, and has again reavlsol 2;1. It is reported that this improvement has been occasioned-by intellionee recently received that the Venezuelan Government have with sow slight modifications acceded to the terms proposed to them for the conversion of the Bonds by the Committee of Bondholders. The Committee have not yet made public the communication they have received from the Government, but it is understood to be generally more favourable in its details than the prop)sition that occa- sioned so much discussion some time ago. The Railway Shares have been in demand ; and those varieties which were so much depressed on the occasion of the last settling-day, have in a great mea- sure recovered; while some of the more valuable have advanced upon our last priees,—Birmingham having been done at 101 poentium, Suuth-ae-dern at 59 per share, and Great Western at 4:1; while Blackmail are again quoted at 2 and 24 premium, and Brighton 5.1, to 54 discount. St•renexv, Twm,vt:o I.1,0CIC.

The English Funds are heavy, and there are sellers of Consols at 911 for Ac- count.Reduced Three per Cents., which were yesterday at 911;, have been done at 91a. Bank Stock is lower, and has been done :et 175); Exchequer Bills are also depressed, and are 23s, to 25s. prem. Money is in demand, and the heaviness of the mark._ t is referable to this pressure. In the Foreign Market, there is as usual but little business except in Spanish Active Stock. These bonds have been as low as 204, but have since reached 27'i, and after being again at 27, are now 27 to 27i. The Railway Shares are heavy : Great Western are 30 to 41 pee iii., Birmingham 09 to 101 prem., Bri„4ton to 51

Blackwall to 21 prem., Croydon 12 to W and South estern 5tili to 591 per share. s 3 per Cent. Consols hot Belgian 5 per Cents. liii/

Ditto for Acconat 91i 1 (701111111.1as 6 pm Cents 27it. 3 per Cent. liednced 911 1 Danish 3 per l!,11IS 79 ell

31- per Cent. Ditto 99/ 1 Dutch 21 ler C.•als

Portuguese Spec ets• 2:515111 1

New 31 per Cents. shut Bank Stock 1751 6 Ditto 3 per Cents Exchequer Dills 23 '25 pin.m R115141111 5 per Cetils 1141 115/

India Shod( Sltailitth (A.11, c) 27 3

Brazilian 5 per Cents 761