MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The continued purchases of Stock for Money by clearing the market have caused a general improvement in the price of every description of Government security, and the quotations of yesterday were from to I per cent above those of our last report. A slight reaction has occurred today, but the market closes within ft per cent of the highest prices. There have been no very extensive operations, and the same circumstance has been remarkable during the whole week, viz, the continued disposition of the public to purchase. It will be re- membered that the Three-and-a-half per Cent Stocks were stationary during a recent improvement in the other English Securities; but during this week they have advanced in the same degree as the Three per Cent Consols and Reduced ; the difference between the highest and lowest price of Reduced Three-and-a-half per Cents being ft per cent ; that between the highest and lowest prices of New Three-and-a-half per Cents being per cent ; while the improvement in the Money price of Consols and Reduced has been ft per cent. The rise in Consols for Account has not, however, been more than i per cent; and so great has been the demand for Stock for immediate delivery, that the price for Money is now the same as for Account, and loans are easily obtained upon the security of almost every description of English Stock at a rate of in- terest varying from 1 to 2 per cent per annum. The premium upon Exchequer Bills has been as high as 42s., but gave way yesterday to 37s., and is today 37s. to 39s. Bank Stock has been steady during the whole week between 165 and 166, and India Stock has risen, being 244i to 245.
The anxiety of the merchants connected with the West Indies, for the ar- rival of the mails of which four were due, has been in some degree mitigated by the arrival today of the Forth, with mails from the Havannah, Mexico, Nassau, and Bermuda. We also learn that the Tay, with the Jamaica and Leeward Island mails, left Fayal on.the 14th instant, the same day as the Forth. [It arrived at Falmouth on Thursday.] There seems to have been some terri- ble mismanagement on the part of those officers of the West Indian Mail Steam Packet Company who are charged with the despatch of the steamers in the West Indies; for though some delays and disappointments in the punctual arrival of the vessels with the mails might be reasonably expected upon the first commencement of the new service, the unprecedented circumstance of no West India mail having been received for more than two months, can hardly be accounted for except on the supposition of gross negligence or extraordinary disaster. The influence of these untoward circumstances is felt in the present price of the Company's Shares: the 100/. Shares, upon which 50/. has been paid, were yesterday offered at 38/. discount, or 12/. per Share.
The speculation in Mexican Stocks has received a severe check ; the arrival yesterday morning of intelligence of the invasion of Texas by the Mexican forces having caused a decline from 381 to 37; and this morning, when the ar- rival of the Forth became known and it was ascertained that she had not brought any remittances on account of the Dividends, there was a general rush to sell, and the price fell from 37 to 34; but speedily improved, and closes at 36, thus marking a decline of 1 per cent on the day's proceedings. It was also reported that the President of the republic had issued a decree calling upon the receivers at the various customhouses to remit immediately to the capital all the sums then in hand, in order to provide funds for the Texan war ; and as this proceeding would of course absorb those amounts specially reserved out of the customs-duties for the payment of the Dividends of the Engliah Bond- holden, it will be seen that there was good reason for alarm. It is, however, now stated that in the proclamation issued by SANTA ANNA, he has made special reservation of the rights of the English Bondholders; and the conse- quence has been, that as the latter version is believed, the Stock has rallied to the extent already noticed. Columbian declined about 1 per cent. with the Mexican, and after being at 26, rallied from to ft per cent. Buenos Ayres and Peruvian Bonds are also lower : the former have been done at 26, and the latter at 18i. The death of M. AGUADO, the French capitalist, who has so long been the ROTHSCHILD of Spanish finance, has caused a decline in the value of Spanish Stock. The fall in the Three per Cents has been the most remarkable till yesterday that Stock was from 1 to 1A per cent above the Five per Cent Active Stock; but it has now fallen to nearly the same price. M. Anuano was negotiating a contract with the Spanish Government, by which, on the assignment of certain Securities, he was to advance for the next three years the dividends upon the New Stock ; and his death, by causing an abandonment of the contract, is a very unfavourable circumstance for the currency of the Bonds.
Portuguese Bonds have been in considerable demand; and the Regency Five yer Cents have been done at 38 for the middle of May. The dechne of Spann& Stock has produced a corresponding movement in these Securities, and the nominal quotations are today about 1 per cent lower. The other -Foreign Funds are generally firmer. The Railway Shares are also firmer ; there being a disposition to purchase any of the least known and less current varieties.
SATURDAY. TWELVE O'CLOCK.
The few transactions that have occurred this morning have been at higher prices than yesterday, and the quotations generally are at an advance of A per cent. Exchequer Bills are the same.
The only variation in the Foreign Market is in the price of Mexican and Columbian Stocks; the former are rather firmer than yesterday, viz. 36 to *, and for the latter there has been a good demand since the commencement of business; the price has consequently risen, and is now 27 to i. The nature cif the Columbian intelligence brought by the 'West Indian mail has not transpired, but from the operations of the market, it is considered favourable.
The transactions in the Railway Shares have been confined to the following : Birmingham, 179b ; ditto, (Thirds,) 60; South-western, 61; North Midland, 69i. A. better feeling appears to prevail among the Shareholders of the West Indian Mail Steam Packet Company, and the Shares which were offered on Thursday at 38/. discount, are today in demand at 25/. discount, but there are ,no sellers. The cause of the depreciation on Thursday was an erroneous re- port that the Government had commenced proceedings against the Company for penalties to the amount of 55,00W. incurred by the delay of the mails. We are assured that the Government have no intention to enforce any penalties.
3 rr Cent. Consols Ditto for Account 3 per Cent Reduced 31 per Cent Ditto New 31 per Cents 914 1 911 i 901 i 991 1 loOs I Columbian 6 per Cents Danish 3 per Cents Dutch 21 per Cents Mexican 5 per Cents Consd Portuguese Regency 5 perets
27 i
80 81 521 1 36 1 371 1 Bank Stock 165 6 Ditto New 5 per Cents 1841. 31 1 Exchequer Bills 37 39 pm. Ditto 3 Cents per 211 21 India Stock 244 5 Russian 5 per Cents 112 113 Brazilian 5 per Cents 67 8 Spanish (Active) 5 per Cents 241 + Belgian 5 per Cents 103 4 Ditto 3 per Cents 1842 241 1
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