TUE MONEY MARKET.
STOCK ENCHANCE' FRIDAY EYE NING.—Consols closed on Saturday at 83a and Exchequer Bills at Ss. to Ps. prem. : the demand for either was flat. To-day there was a slight depression; Consols closed 83t. ; iu Exchequer Bills there is no difference. The charge against Messrs. MAnsoninAxits, CAmm, and C. of Throg- mutton Street, to which we alluded in our report last week, and moro fully in a paragraph - in our second edition, has occasional, in the ahs:mee of subjects of more interest, a great deal of discussion among the healers of the Stock Exchange. For the benefit • of the readers of our first edition, we may state, that the charge against these gentlemen was-1st, that they had Sold stock (110,000/. of Brazilian, and stone smaller quantities of other American stock) to Mr. Roznscumn fur a smaller price than might have been obtained in the house ; 2d, that they had charged &old .! brokerage; 8d, that they had procured the insertion of the sale in WETCENIIA LT.'S authorized List, which ought to contain no sales but those made in the house. The sub- ject has been amply discussed in the newspapers, each writer arguing for or against Messrs'. MARJORIBANKS, as his feelings or his opinion of the justice of their case inclined him. We ourselves have had a long letter from " A Mem- ber of the Stock' Exchange," in which some of our remarks are commented on. We have no inclination to enter into a controversy on the merits of the question, with our correspondent or any one else. It lay in our way, and we found it. The mode of doing business on the Stock Exchange is peculiar. In other commerce, one go-between is considered sufficient, but in buying or selling stock: there are three go-betweetts,—first, a broker to sell ; secondly, a broker to buy; and thirdly, a jobber to connect the two brokers. The brokers get per cent. each, and the jobber gets the " turn of the market," which is more ; so that, sell Or buy who will in the house, the article transferred suffers a diminution of iths in passing from principal to .principal. When brokers sell out of the house, the
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dealer's part s saved to the buyer or the seller, as the case may be. If the broker communicate with both principals, he may forego, in favour of that one who first employed him, one of the eighths to which he is 'entitled. Some brokers, it is said, always do ; some never. Whether in • the house or out of the house the broker get a high price or a low one, is a question which the Stock Exchange Committee have nothing to do with. If
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the broker's employer be satisfied, no one else has a right M complain. The charge against Messrs. MARJORIBANES is thus narrowed to one particular the insertion of the sale in question in Wettenhall's List. They say, we believe truly, that this is an everyday practice. The Stock Exchange Committee, which has sat on the subject, say with equal truth, that the practice is irregular, and they declare their intention to visit its repetition with a penalty. We admit, that a list of prices in one market should not he confounded with those of another. Still we maintain, that a list of all real bargains, of considerable amount, would be far more valuable than a list into which real bargains and fictitious equally enter, and in which large and small are strung together, without an attempt at discrimination. With respect to the guarantee that such lists afford the public, we much doubt its importance. The only real guarantee is to du business with a respectable house. A rogue can be a rogue as easily in the house as out of it—and there are plenty of them. We make these observations from no wish either to defend or to impugn the con- duct of Messrs. Ma 1LJ ORIBA N/iS. By themselves they must stand or fall.
CLOSING PitICES OF STOCKS ON FRIDAY.
Bank Stock . — — Brazilian 45 i Spanish 131 1
3 per Cent. Red. — -- Chilian 16 17 Ditto New 121 13
3 per Cent. Consols 831 Columbian 111- 12 Console for Aect. 831 1 Danish 67 I
31 per Cent New 901 1 Greek 27 28 Thilanos 130 140
Long Annuities — — Mexican 31 i Brazilian 36 33 Ex. Bills,10001. 9s. 10s. pm. Peruvian — — Columbian — — India Bonds 3s. to 2s. die. Portuguese 48/- 49-1 Anglo Mexican.. 9 11
India Stock Russian 97 f United Mexican. 4* I- SATURDAY Noox.—Consols for Account, 831.
!MARES.
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