MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The English Money Market has evinced considerable firmness' and has been marked by a decided improvement, within the last few days. As we antici- pated, a considerable portion of the new Loan has been paid up ; the amount yesterday afternoon being, we understand, four millions. The Bank of England have just issued a notice, that the Directors are willing to lend money upon bills, stock, or other approved security, till the 10th September, at an interest of 31 per cent. A notice of this kind has generally been issued previous to the periodical closing of the books of the various Stocks for Dividend, and has usually made its appearance at the beginning of the months of March, June, September, and December ; and the period for which the money has been ad- vanced has always been the middle of the month following that in which the notice has been given. The advances thus made have been with a view to counteract the pressure for money which has always been occasioned by the quarterly payments of the Revenue into the Exchequer, previous to its general distribution for the purposes of the State. The circumstances of the contract for the West Indian Loan have, however, induced the Bank to commence its accommodation at a much earlier period than usual; and notice to that effect was given about a fortnight ago. When, from the state of the market, a large amount of the new Loan was paid up, it became evident that the money thus employed would be withdrawn from circulation till the 10th September, at which time the admitted claims under the Indemnity Act will be in course of payment. The contractor for the Loan is stated to have represented to the Chancellor of the Exchequer, the evil effects likely to result from such a tem- porary absorption of capital : and the notice of yesterday is understood to have been issued by the Bank for the purpose of counteracting the anticipated incon- venience.
The transactions of the Foreign Market have been chiefly remarkable for the fluctuations which have occurred in Cortes Bonds. On Wednesday, the house of Messrs. P. C. ZIMMERMAN and Co. was under the necessity of suspending its payments; and as the partners have latterly had considerable transactions in Spanish Stock, some very extensive sales of Cortes Bonds were the result of its stoppage. This circumstance, in addition to the continual depres- sion of the price in the market of Paris, caused a fall to the extent of more than 5 per cent. ; the lowest quotation being at 41i. An improvement, however, has since occurred, to 44 ; but that price has not been maintained ; and some con- siderable sales, in the course of this afternoon, have caused the price to decline to nearly the previous point of depression. These sales are reported to be caused by, another commercial failure; but we have not been enabled to ascertain the accuracy of the report. The European Continental Securities are nearly at our last prices. The South American Securities, with the exceprio of Mexican and Chilian, have declined nearly 4 per cent. since last week. The hollowness of the ground for the improvement in these Stocks, which took place in the early part of the year, is now becoming apparent. Brazilian Bonds offer, however, a cheering contrast to the above; the market being firm, and having improved nearly ir per cent. in the last few days. Recent advises from Rio Janeiro, bringing accounts of a considerable advance iu the local, may be cited as the cause of this im- provement.
The proceedings of last night in the House of Commons, in addition to the decline of the French Funds on Thursday, have thrown a damp upon the market ; and the price of Console for Account is 891;f, while that of Omnium is 21 4. The causes to which we yesterday referred are still operating to produce a &aline in Spanish Stock, and the price to-day has been as low as 381 A trifling improvement has since taken place, and the price is now 391. The Scrip has been as low as 21 dis., while the Active has been at 361. The South American Stocks continue at yesterday's quotations, and the European Conti. nental Stocks are also unaffected.
SATURDAY. TWELVE O'CLOCK, 3 eer Cent. Consols Ditto for Account New 34 per Cent. Annuities 991 I silts Stock for Account .... — Exchequer Bills 18 20pm.
Omnium — Belgian 5 per Cents. ex. div. 1004 1
Brazilian 5 per Cents .. 861 7 Danish 3 per Cents 764 7
891 1 Dutch 24 per Cents 531 4 891 s French 3 per Cents
-
Greek, 1825.5 per Cents
Mexican 6 per Cents. 35 36 Portuguese 3 per Cents 544 Do. Regency 3 per Cent 861 27 Russian, 1822, 5 per Cent 1001 1 Spanish. 1821, 5 per Cent.. 391
Ditto New Scrip 5 Cent....
204 20dis
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