MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

On Monday, the conditions of the New Loan and Funding of Exchequer Bills were announced in the presence of the Governor and Deputy-Governor of the Bank, Baron Rothschild, and numerous capitalists : the Loan to be 5,000,000/. ; the Funding 3,000,000/. For every 1001. in money,. the con- tractors were to receive Three per Cent Consolidated Annuities, interest to from 5th January ; the biddings to be made in such Annuities. The instalments to be—February 26th, 201. per cent de t, (since altered by the Chancellor of the Exchequer to 10/. per cent, and 101. per cent on March 3d) ; MarcleI3th, 251. ; March 29th, 251., .A.pril I0th, 151. ; and April 24th1 151: per cent. After the deposit, an amount of Stock is to becreated for subscribers ateach payment, and for the deposit when the last instalment will be due. The usual Scrip receipts will be issued. The biddings to be made at the Treasury on Friday (this day) at ton o'clock. In the Funding of Exchequer Bills the deposit to be 20/. per cent on 26th February, (since altered to 101. per cent, and 101. per cent on March 3d) ; tyre instalments to be 201. per cent on the 13th March, 301. on 29th March, 20/. on 10th April, and 10/. per cent on the 24th April. The contractors for the Loam to have the option

contracting contracg for the Exchequer Bill Funding, on terms that should be agreed upon for the Loan. To contractors desirous of paying money instead.

of Exchequer Bills, 1001. 58. would be taken for 1001. Exchequer Bills. No discount will be allowed for prepayment of instalments.

On Tuesday, Meeers. Rothschild gave intimation that they were ready to receive joint applications for the Loan and Funding until Thursday at two o'clock ; the applications to be accompanied with a deposit of 201. per . cent, [reduced since the Treasury notice to 101. per cent.] The demand for money up to the time of closing the lists was excessive, owing to the number of applicants, which have been considerably above the amount required. The small amount of the loan and funding created much surprise on Monday, and produced a beneficial effect on the Funds. Consols, which had been previously weak at 901, advanced I per cent. It was afterwards considered that the instalments were heavy, would be followed

up with rapidity, and that a fresh loan would be required Midsummer :

the Funds consequently declined t per cent. Preparations for the deposit have since caused some considerable sales of Stock, m one instance it is stated, '

to the amount of 600,000/. and the Funds have been very unsteady. Yes- terday, after the closing of the subscription-list, there was an improvement of 4 per cent, and Consols were quoted 91 1. This morning at ten o'clock the second interview took place between the Premier and Chancellor of the Exchequer and the capitalists invited to con- tract for the new Loan. Messrs. Rothschilds'Aermit were-for every 1001. Money to receive 1121. 58. Three per Cent Consolidated Annuities, equal in Consols to 894 for every 1001. This was objected to, being below the mini- mum fixed by the Government, which was 1111. 28. 2d. Consolidated Three ppeer Cent Annuities for every 1001. in Money, being equal to Consols at 90. This Messrs. Rothsehilds have accepted ; and they also accepted for the Ex- chequer Bills at the same price. The Stock Exchange opened an hour earlier this morning in consequence of the biddings for the Loan. Consols, after a few fluctuations, leave off lower ; being901 91 for Money, and 914 for Account. The Consol Scrip has ranged from 4 to 11 premium_ Exchequer Scrip 14 to 01. The French Funds have declined about 4 per cent. The Continental exchanges continue favourable, but there is little abatement in the demand for money. The Corn-market is rather firmer. The specie brought by the West India steamer last Saturday amounted to 569,0001. The New York packet on Tuesday brought 60,0001., and it is expected that further remittances will fellow. The shipments of specie to India continue heavy ; the Alma took out 487,0831. Foreign Securities have been firm ; but very little activity has been ex- hibited, and the leading descriptions generally have not altered. Turkish Silt per Cents are 1 better. Peruvian Four-and-a-half and Three per Cents after the 26th instant are to be delivered " stamped."

:

ft.ilwap have been well supported, and there has been an improvement in the following-Great Western, Si. Ss.. South-Eastern, I/. 108. Great Northern, 11. London and North-Western, and Midland, 156. ; Lancashire and Yorkshire, and London and South-Western, 10a. French Shares have improved. from I/. Si. to 21.

Serum/sr, Twxtvz

The English Funds are rather better this morning, Consols for Money be- ing.91 4, and for Account Glt f. Exchequer Bills 4 discount to par. Consol Scrip has been done at I premium; Exchequer Ditto premium. The bul- lion return by the. Bank of England exhibits a decrease of 81,2251. In Foreign Stocks there are no symptoms of business, and the prices are no- minal. Railways are steady ; the bargainsat t have been-Caledonian, 574 ; London and North-Western, 1011 ; North Staffordshire, 101; South- Baste:m-851. SATURDAY, ORR °Trees.

The English Funds have improved 4 since the morning ; the payment by Messrs. Rothschild on Monday next of the surplus deposits on the new Loan is considered likely to render money for the present more plentiful, and is the principal cause of the improvement. Consols for Money are now 914 1 and for Account 911 4 ; Exchequer Bills 3 discount to par. Consol Scrip iafirm at 11.4 premium; Exchequer Scrip has been done at 1/ pre- mium. In Foreign Stocks, Turkish Six per Cents are 4 better ; Equador New Consolidated, 13f ; Grenada New Active, 20'; Ditto Def'erred, 64; Yenestela, 28; Ditto Deferred, 12. The Railway market is higher--Caledonian, 574; Eastern Counties, 94 ;

Dist Lancashire, 711 ; Edinb , Perth, and Dundee, 25; Great Northern, 954; Great Western, 594, hire and Yorkshire, 82f ; London,

Brighton, and South Coast, 974 ; London and North-Western, 1011.; London and Sou-Western, 924 ; Midland, 704; North-Eastern-Berwick, 76} ; South-Eastern, 651. Preference Shares-Great Northern 5 per Cent, 118 ; Eastern of France, 384; East Indian, 21f ; Great Western of Canada, 254; Northern of France, 394 ; Pavia and Lyons, 50: Mines-Brazilian Impe- rial, St. John del Rey, 264; Cobre Copper, 67. Joint Stock Banks-Aus-

tralasia, 931 ; City, 69 London and County, 36 ; Oriental Bank Corporation, 394; Union of Australia, 714. Miscellaneons-Canada, 130; Canada Go- vernment 6 per Cent January and July, 1081 ; General Screw Steam Ship- ping Company, 17 ; Royal Mail Steam, 794; South Australian Land, 355.

3 per Cent Consols 91 1 Dutch 24 per Cents 64 6

Ditto for Account per

3 per Cent Reduced 91 Ditto .4 per Cents 95 7 91 Mexican 3 per Cents Peruvian 4} per Cents 204 New 3 Cents 92

79 81

Long Annuities 3i Ditto 3 per Cents 55 7 Bank Stock 213 15 Portuguese 4 per Cents 47 9

Exchequer Bills 5 dis. par Russian 5 per Cents 104 6

India Stock 222 4 Ditto 44 per Cents 92 4 Austrian 5 per Cents 87 90 Spanish 3 per Cents 42 3 Brazilian 5 per Cents 101 3 Ditto Deferred 234 4 Belgian 4j per Cents 95 7 Sardinian 5 per Cents 88 90 Chilean 6 per Cents 102 4 Swedish 4 per Cents 87 90

Danish 5 per Cents 102 4 Turkish 6 per Cents 94i 5

Danish 3 per Cents 112 5 Ditto 4 per Cents Guaranteed 100

RAILWAY- ARRANGEMENTS.

The half-yearly meeting of the North-Western Railway Company was held yesterday. The Marquis of Chandos announced that the Directors had accepted an offer of mediation in the matter at issue with the Great Northern Company, made by the Chairman of the North-Eastern, the North British, the Caledonian, and the Lancaster and Carlisle Companies. That proposi- tion had been made on Thursday to the Great Northern Directors, and it had been accepted. Dividend declared at the rate of 54 per cent per annum.

The revenue of the North-Eastern Company for the last half-year exhi- bits an increase of 34,2621. ; there is a decrease in the working expenses of 21,031t. The balances on the separate revenue accounts will allow of a di- vidend of 44 per cent per annum on Berwick Stock, and 34 per cent on the York Stock. The balance on the Leeds revenue account is 56,7271., out of which a dividend is recommended at 6 per cent per annum on Preference Quarters and Extensions 1848. 5 per cent on the first issue, and 31 per cent on the second issue of Preference Fifth Shares.

The half-yearly report of the Directors of the Great Northern Com- pany has been issued. The balance of earnings beyond expenses is 320,7731., being 14,0031. more than the balance at the close of 1854. There is an available balance of 145,3651., which will admit of a divi- dend of 3 per cent for the half-year on the Original Stock. If it had not been for the payment of 31,214/. to the London and North-Western and Midland Companies under "the Gladstone award," and 29,8671. to other companies under the " octnple agreement," the dividend on the Original Stock for the year 1855 would have been at the rate of about 51. 88. per cent. The long-pending differences with the South Yorkshire Railway and River Dun Company have been finally closed. The Directors of the South-Eastern Company will recommend a dividend at the rate of 41. 8g. 4d. per cent per annum.

The half-yearly meeting of the London and Blackwell Company was held on Tuesday. There has been a falling-off in the traffic of every station during the past year. Since the close of the year the traffic has increased much beyond the corresponding period of 1855 or preceding year. A divi- dend of Si. 6d. per share was declared.

The East Lancashire Company held their meeting on Wednesday, at Bury The The report showed that the receipts for the half-year had increased . over the same period of 1854 ; the mileage had increased from 811 to 93 by addition of the Clifton and Manchester and Southport Railways. There is a balance of 41,9691. available for dividend, which the Directors pro posed should be at the rate of 34 per cant per annum.

The half-yearly meeting of the Midland Company was held at Derby on Wednesday. Reference was made to differences now existing between the London and North-Western, the Midland, and Manchester, Sheffield, and Lincolnshire, on the one hand, and the Great Northern on the other. A dividend was declared at the rate of 34 per cent. A resolution was acceded to by the Directors, that notice should be given for the future of proposed outlays of capital, that the shareholders might sanction or reject them.

Last week it was announced that Glyn and Co., the London agents of the Tipperary Joint-Stock Bank, had refused to honour the drafts of that bank ; next day it was stated that means had been found to meet the drafts. It was explained in Dublin that there had been a " mistake " in London,. and the Bank of Ireland in Dublin continued to pay the drafts of the Tipperary Bank up to Friday afternoon-on Saturday they were not honoured. The Freeman's Journal of Saturday stated that great exertions were making to meet the " run " upon the bank which ensued from the occurrence in Lon- don. There are ninety-nine proprietors of the bank, sixty-eight of whom are in England. The late Mr. Sadleir was the original projector of the bank, and the principal director.

On Thursday, a petition was presented to the Irish Court of Chancery for the winding-up of the bank, and an order was granted thereon ; the Master of the Rolls will hear the petition and any opposition next week. It is said that payment has ceased at some of the branches of the bank : numbers of persons seem to have placed money in the bank on deposit, which they could not recall wider ten days' notice-at the end of that period will be the great pressure.

The following notice was issued on Thursday by the Royal Swedish Railway Company, of which the late Mr. Sadleir was chairman-" The Directors of this Company having discovered that certain shares and bonds or obligations of this company have been improperly issued, it is requested that all holders of shares and bonds of the Company will forthwith bring in the same to the office ffir examination and verification ; and the Director, in the mean time caution all persons against purchasing or in any way deal- ing in the shares and obligations of the Company." It is currently reported that false shares have been issued by thousands ;

anaccording to the _Daily News, the late Mr. Sadleir is credited with the frauds. The Board of Directors of the London and County Bank was augmented on Tuesday by the election of Mr. W. Nicol,. Mr. A. A. Iloghton, and Mr. J. Laming.

The Directors have announced that no loss will accrue to their bank through Mr. &elides death, as his transactions with it had ceased for some months.

At a meeting of the General Screw Steam Company, on Wednesday, it was resolved to make a return of 31. per share out of capital, and to declare a dividend equal to about 6 per cent per annum. The affairs of the com- pany are in a satisfactory state : a deposit has been paid by the French COM- pany which has bought the principal ships of the company, but the transac- tion is not completed.

The dividend of the English, Scottish, and Australian Chartered Bank, will be at the rate of 4 per cent per annum.

The Submarine Telegraph Company have declared a dividend at the rate of 7 per cent per annum.

The dividends and bonus of the North of Europe Steam Company for the past year have amounted to 10 per cent.

The revenue of the Southampton Dock Company has constantly increased since 1850, enabling the Directors to distribute increased dividends : the last, up to December, made the dividend for 1855 4 per cent.

The Rrospectus of a "London Armoury Company" has been issued. The capital is to be 60,000/., in 201. shares. The object is to carry on the manu- facture of fire-arms under the patent of Mr. Adams, which has been adopted both by the Government and the East India Company.

An "Acadian Iron Company" has been projected to work the iron-mines of Nova Scotia. The quality of the iron and steel made at these mines- which have been worked for some time-is favourably known. The capital is 200,0001.

The Eastern Steam Navigation Company expect that their great ship will be launched in August next ; though Mr. 'Russell's failure will cause both delay and increase of cost to the company. The ship will in the first in- stance make trial-trips to an American port.

The reports from the manufacturing districts are satisfactory : a good deal of business has been done.

Messrs. Leno and Co., a Greek firm in London engaged in the Danube corn-trade, have been compelled to suspend payments, in consequence of cargoes being detained in the Danube. Uncovered liabilities, 20,0001. ; it is believed that ultimately all claims will be paid.

The Colonial Bank has incurred a loss of 20201. by forgeries at Trinidad : inaccurate reports placed the loss at a much higher figure.