Leaving a clear saving of £30,625 0 0 Three per
Cent. Consols between the acceptance of the tenders made this day week and those ultimately adopted. Thus, :10,625/. Three per Cent. Consols at 91,:, the present price for money, are equal to a capital of 28,021/. 17s. 6d, ; which is of course a saving to the country to that amount. The annual dividend upon the amount of Stock above referred to is 918/. 15s. ; and the saving may be reckoned as a capital of 28,021/. 17s. Cal., or an annuity of 9181. 15s. There appears to have been comidcrable doubts in the mind of the Chan- cellor of the Exchequer as to the success of his measure ; for otherwise he would not have made an ulterior is vision in the Act of Parliament requisite on this occasion, against whatever deficiency there might have hem in the sub- scription. That provision is contained in the following resolution, whirls. forms one of those upon which the bill is founded- " ItcsoIN 'That every person ur petsuus is 110111:111 aarr 1110 254 A11.411,1 crxt de- liver hi Exchequer Nils Cu 110 Valli:Oka ill S111113 Or Mil Ii•. s that) 1,11001...., tint exceoling in the while a slim whirl, togellier wilb the ExvIleglier saLscrilwil, in manner bell.re pros hied, shall leA exceed 4,011;1,,uci. dat,t in 7.tIcreli and 311110 ellidged on Aids and Supp!ies, ■••0111,1 for every 110/. su delivered, to such an alucind eapilat :shwa in oat:end:east Annuities heariog interest at the rate tlt. 3 per ‘,1•11i11111 per 11111111111, as every loot. ut it:.' said Ex- chequer lulls %multi have v11111:1,4 if the hill111. had 1/171,11 applied in lit•• pidelia:e of Consolidated Annuities, esinnatinii. the sinie at the quarterly average peke thereof, fur the qUarters eliding the 501 .1:Hillary, 5111 April, 5 11.1111y, and 10th ()etcher, as the case may iinnlisliately preceding the delivery in of such E:seliipier Bills; such average price to lie ascertained, ziccurilin6 to the laity returtis thereof made op pursuant to law at the Batik or England."
It will be seen flat, in the language of this resolution, Exchequer Bills might, if the subscription hail fallen short, have been funded at the average price of Consols for the preceding; three mouths ; but as the whole amount has been subscribed, this provision will bccoule inoperative.
The Consul Market has been in a feverish state; and on Tuesday, Wednes- day, and Thursday, was advancing, because it was believed that the Act autho- rizing the flouting would not be passed in time to allow flue delivery of the Stock upon or previous to the settling-day fur the Consul .Account--the 29th instant. Hence, ax the majority of the Consols subscribed tar have been sold in the market fur delivery on that day, the fear of a scarcity of Stock caused a. rise in the price ; but as tt is generally understood to-day, that the subscribers will be able to deliver the Stock upon the Account-day, the market has fallen back the whole amount of the late improvement. The price of Consols for Account on Monday was 9l1.1 .4; but fell on that day as low as 911, and rose on Wednesday to 916 ; again to give way to 91as, to-day's price. Exchequer Bills have been subject to large fluctuations, and have frequently risen to 22s. prem., and fallen to 16s. upon the same day. Some large sales have been made by the Bank Broker, as is supposed on the behalf of the Government; and the operations of the funding have been materially assisted by the supply thus
crested. Money has been extremely scarce ; many parties, who had purchased Exchequer Bills in order to provide for the future instalments upon their sub- : scriptions to the funding, having been compelled to burrow money upon them • at the rate of 6, 7, and 8 per cent.; and as the Exchequer Bills only bear an • interest of about 2;1 per cent, the profit upon the operation has been lessened to the extent of the difference between the interest received upon the Excite- .quer Bills and that paid upon the money borrowed upon them. Bank Stock has been as low 183i, but has improved to-day, and is at 1841. India Stock has been as low as 2461, and is quoted to-day at 246&4tnd 247.
In the Foreign Market, Dutch Stock has given way upon a report of the issue of 5,000,000 guilders in New Five per Cent. Stock ; and this circumstance, in addition to the recent resolution of the Directors of the Bank of Amsterdam to refuse any advances upon the security of stuck' of any description, has caused a fall of 4 per cent, m price. Spanish Stock has risen more than 1 per cent. ; having been at one time as high as 24 for the middle of September ; but it speedily fell back about per cent., and has for the last two or three days ran,red between 2011 and 204. The present appearance of the market is certainly fitvourable, and its indica- tions are those of improvement. The rise in Spanish Securities producedan improvement in Portuguese Bonds, which had rallied about 4 per cent. front their extreme point of depression. The market, however, has given way to-day, and they arc quoted nearly as low as ever. The high rate of interest for money operates to keep down all the merely speculative or Non-dividend Stocks.
SATURDAY. TWELVE O'CLOCK.
The prices of almost every description of Stock, both Foreign and English, are the same as yesterday. Money is in demand, and Exchequer Bills conse- quently heavy. The opening price of these Securities was 17s. to 19s. prem., . but they have since been dune at 16s., and are n ,Nsr !Gs. to 18s. prem.
. 3 per Cent. Consols ,Ditto for Account 3 per Cent. Reduced.. New 3* per Cent. Anna Bank Stock India Stock Ditto Bonds Exchequer Bills .. Belgian 5 per Cents. 91k 11 91* 1 92* 98* 1 — 16 18 pm. 103 Brazilian 5 per Cents Danish 3 per Ceuta • Data 2* per Cents
Purtugues,, Itegyncy 5 per Cts Ditto `t3 per Cents
Russian (1822)5 per Cent Spanish (1835) 5 per Cent Deferred Stock Passive Ditto
771 81 75 6 5.31 4* 281 29
181 191 114 14e 20* * 4} * 9
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