MONEY MARKET.
STOCK EXCHANGE, FRIDAY A Mk RMD.A.
The operations of the Government-broker have during the week been con- fined to the investment of the large sum of money recently paid to the Com- missioners for the reduction of the National Debt on account of the purchase of Terminable Annuities. By the Act of Parliament which empowers the Commissioners to grant various descriptions of Terminable Annuities, a limi- tation is made with respect to those which are to expire previously to or in the year 1860 ; and while Annuities for long terms may be granted in any quantity, those of the former description can only be granted to the amount of 2,000,0001. in one year, or at the rate of 500,0001. a quarter. These particular Annuities are special favourites with the public, and have become, in common with all Ter- minable Annuities, greater objects for investment since the announcement of the reduction of the Three-and-a-half per Cents. There arc some influen- tial parties in the Stock Exchange who apply themselves particularly to the annuity branch of business; and they, finding the demand for this investment continually on the increase, have, by the payment of nearly 400,000/. to the Government, become the purchasers of all the annuities ot a certain descrip- tion that can be created till the 12th April next. The 400,0001. thus paid, must, according to the provisions of the Act, be laid out in Stock ; and hence the Government-hroker has been for some time, and must be for days to come, a buyer of Consols. According to the present rates at which Annuities are granted, 100/. Three per Cent Stock will purchase an annuity of 8/. for 15j years. The Government, therefore, concentrate their liability-, and, in- stead of paying 31. in perpetuity, extinguish all claim upon them for the payment of 8/. for 154 years. Some very large purchases have occurred: the Government-broker, as already stated, has been a daily buyer ; the broker for the Scotch banks has also purchased largely. The price of the Government Securities has consequently risen. Consols, both for Money and Account, were yesterday as high as 99, and New Three-and-a-half per Cents at 1021. The market has given way today ; and alter being at 981 for Consols and 1021 for New Three-and-a-half per Cents, closes this afternoon respectively at 98/ and 1021 a. Bank Stock has been today at 200!y; marking an im- provement of 5 per cent since the closing of the books on the 1st March. Notwithstanding the declaration of the Governor at the meeting yesterday, it is generally believed, from the rise in the Stock above noticed, that it is the intention of the Government to renew the Bank Charter upon nearly the present terms. India Stock is also advancing, and bets have been laid that the price will reach 300 in the course of the present year. Some notices of dissent have been received from holders of New Three-and-a half per Cents: the exact amount is not known, but they are believed to be few : indeed, the best course for the dissentients to pursue would be to sell their Stuck, for they would now receive nearly as much as, if they wait till paid off, they will receive in October.
The transactions of the Foreign Market have not been of any great im- portance. Dutch and Belgian Bonds are steady, in the uncertainty in which the measures of reduction now proposed in each country are involved. Spanish Stock has also continued without material fluctuation. Portuguese Bonds may be quoted about 1 per cent lower ; the last arrival from Lisbon bringing intel- ligence of some minor financial difficulties experienced by the Government. The recent revolt is considered as unimportant, except that its suppression will be the cause of some expense. Columbian ex-Venezuela, Peruvian, Buenos Ayres, and the other South American, as well as the Mexican, are unchanged.
The Railway Shares are generally at advanced quotations, without the oc- currence of any particular transactions requiring remarks.
S XTURDAY, TWF LTA O'CLOCK.
There is scarcely any thing doing this morning, and the prices of both the English and Foreign Funds are the same as yesterday. This being the last day for expressing dissent by the holders of Three-and-a-half per Cents, some curiosity is excited to know what number of holders have already dissented. Nothing is positively known upon the subject, but the general opinion appears to be that the total amount of Stock held by the dissentients will not exceed 500,0001.
SATURDAY, Two O'CLOCK.
The English Funds close at the morning's quotations. Bank Stock has been done at 199/2 and 200, and India Stock has improved to 294. It is said that the amount of dissented Three-and-a-half per Cent Stock of all descrip- tions is at present under 150,000/. ; but as the holders have till twelve o'clock tonight to declare their sentiments, this amount may yet be increased. The only change in the Foreign Market has been in Spanish Stock, of which the Three per Cents have risen to 36, and the Active to 231. The business in Railway Shares has been extensive, and we have to notice the following bargains : Chester and Holyhead, 7; Eastern Counties, 111; Birmingham and Derby, 61 3 2; Ditto, Thirds, 201; Ditto, Eighths, 44; Edinburgh and Glasgow, 64t ; Gravesend, Chatham, and Rochester, 2; Great, Western Half-Shares, 7oi A; Lancaster and Carlisle, 78 4; Great North of England, 1001; Harrowgate and Knaresborough, 41; Midland Counties, Quarter-Shares, 22i: Newcastle and Darlington Junction, 38; North Mid- land Third-Shares, 29i ; Paris and Orleans, 351; Ditto, and Rouen, 36* 1; Rouen and Havre, 154; York and North Midland, New, 55*; Ditto, Scar- borough Branch, 20i ft.
3 per Cent Consuls 981 8
shut 4 Colombian ex Venezuela ... 11044012i Ditto for Account Danish 3 pet Cents 86 7 - 3 per Cent Reduced Dutch 29 per Cents 7* 1
3} per Cent Ditto shut Ditto 5 per Cents New 34 per Cents 102; 1 Mexican a per Cents 351- 64 Batik Stock
619310200 Ditto Deferred 151 prem. 68 7
Exchequer Bills Portuguese New 5 p Cts.1841 461 74 India Stock 294 Russian 5 per Cents 115 17 Brazilian 5 per Cents ...... ... 81 3 Spanish (Aeti,e) 5 per Cents 254 It Belgian 5 per Cents Ditto 3 per Cents 1342 351 6
Cbilian 6 per Cents 110034 55
Venezuela Active 394 40}
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