MONEY MARKET.

STOCK BECHANCE, FRIDAY AFTERNOON.

The Government Securities have shown symptoms of decline; Consols for ...Money having been at 100. This has been partly the result of the pressure of stock upon the Market in consequence of a temporary preponderance of sellers; but it is also in some degree owing to the heaviness of the-French.Funds, which have been kept down by the fear of change contingent on the division upon the address. That however, is now at an end: the intelligence of the division, which occurred at seven o'clock yesterday evening, was made public in a second edition of the Times about half-past three this zifternocoi. OW closing (incitation of Con • sale for Account is 1005 3. From the late hour at Which the division occurred, its effect upon the French Funds would not be known till the following day. The Three-and a-quarter per Cent Stocks have maintained their quotations, and are today at 1045; while the highest quotation of Reduced Three per Cents is 1004,—leaving a difference of 33 between the two stocks. The value of the dift ference of the annuity is 2 per cent; which being deducted, leaves a clear 11 as the market estimate of the value of the guarantee against reduction till after 1884. During the last few weeks this guarantee has risen in public estimation (as tested by the comparativeprices of the Three-and-a quarter i per Cent and Reduced Three per Cent Stocks) about 1 per cent; a pretty plain ndication that the often-repeated rumours of an immediate reduction in the Three per Cent Stocks are producing an effect upon the public mind. Bank Stock continues to improve, and is today quoted at 214 for Money. Exchequer Bills had, on the contrary, been depressed to 57, but have risen again to 62. The decline of these securities in the present abundance of money would be remarkable, but that the high rates of interest paid by the Share speculators continue to attract all the floating and unemployed capital into that market; and the holders of Exchequir Bills are of course in many instances glad to exchange a security realizing onlY 23per cent per annum for others which even at a considerable risk produce 7, 8, and 10 per cent; any small loss occasioned by the sale of Exchequer Bills at tilt lower premium being soon compensated by the advanced rate of interest upon thb new transaction.

Messrs. Gowan and Marx, of Copthall Court, have become the contractors of a loan for the Republic of St. Domingo, the Spanish part of Hayti. It is a Three per Cent Stock, and the price is stated to be 65; but it has not yet made its appearance in the market as an article of traffic. ere have been some extensive transactions in the Foreign Market, principally in the Peninsular Securities. Spanish Three per Cent Stock has risen very ma-

terially; the intended provision of the dividend for two years having given t activity to speculation in it. The rise from Saturday to Tuesday was 2per cent; a decline of about 13 per cent has since occurred, and the closing price of this afternoon is within about 1 per cent of the highest quotation. The Active Bonds were quite neglected; but a purchase of about 250,000 by an influential broker on Wednesday gave firmness to the market, and the stock is consequently more in demand. Portuguese Stock evinced a tendency to decline, in consequence of the aggregation of sellers, by which a considerable quantity of stock was thrown upon the market. Since the arrival of the last Lisbon mail a demand has again arisen; prices are firmer, and nearly as in our last report. There has not been any variation or business of importance in the Mexican or South American Bonds. A sale of Russian Stock was effected yesterday at 1195. The operations of the Share Market have been both extensive and important. The appearance of the Gazette is watched with intense anxiety, and much specu- lation has occurred in anticipation of its decision. Several schemes were disposed of on Tuesday; and it is rumoured that the publication of this evening will be de- cisive of the Eastern lines. Eastern Union Shares, Eastern Union Extension, and Harwich Shares, have consequently risen. During this afternoon there were many inquiries for the two; former and buyers could readily have been found at ad- vanced prices, but that there were few or no sellers. Chnrnet Valley have alio risen; as have Caledonian, and many others connected with already-established lines. Among those lines in course of completion, we may notice the steady ad- vance in the Lancaster and Carlisle; the shares, upon which 151. is paid, being at 241. South-eastern and Dover are quoted as high as 49. Birmingham are about 31. higher: but the speculation and improvement seems to have been almost en- tirely in newer varieties. The principal feature among the French Shares is a demand for Rouen and Havre, occasioned by purchases on French account.

SATURDAY, TWELVE O'CLOCK.

The English Government Funds are unchanged. Bank Stock is again at an improvement, being quoted 2145 for money. In the Foreign Market prices are generally the same, with but few transactions; all the interest being centered in Railway Shares, to which the Report of the Board has given in many instances a greatly-increased value. It will be seen by the Report itself that the anticipa- pations respecting it current last evening, and noticed in our remarks, were not

this morning: Birmingham and Gloucester, 111 9 10; Do., New, 263; Bristol and Gloucester, 445 4; Caledonian, 6; Eastern Counties, 173 17 18: Great Western, 173 4; Ditto, New, 995 100; Birmingham, 234; Blackwell, '75; Brighton, 52j 52; Midland, 128 130; Derby and Birmingham, 943; North British, 115 1121 Ncirth- em and Eastern, 62; Norwich and Brandon, 11; South-eastern and Dover, 4853; Trent Valley, 11; Yarmouth and Norwich, 24; York and Scarborough, 45 6; York and Selby, 72 15; Ditto, Extension, 134; Lynn and Ely, 54 7 6; South Devon, 15; Dublin and Belfast, 64; London and York, 5; Eastern Union, 15 133 15; Croydon, 163; Churnett Valley, 55; Stakes and Richmond, II; Cambridge and Lincoln, 33; Direct Norwich, 53 3; Rugby, 24 5; New Smith- ampton, 123; Newcastle 115 15; Paris and Orleans, 443; Paris and Rouen, 425 4.

SATURDAY, Two o'czoctic. Some sales of Stock have occurred for Money, and the English Funds close a per cent below the morning's quotations. No material change has occurred in the Foreign Funds. As usual, all the interest of the speculators has centered in -Railway Shares - in which there has been much business. The following bargaini have °conked since the morning : Bristol and Gloucester, 433 ; Dublin and' Cashel, 14; Eastern Counties, 183 • Edinburgh and Glasgow, 653 64 ; Harwiclit14 ; Great Western, Quarter-shares, 273 ; South-eastern and Dover, 485 93 ; New Ditto, gji 2; South Devon, 15 ; London and York, 45 5 ; Eastern Union, 144 153 ; Shrews- bury and Dudley, .45 ; Cambridge and Lincoln, 35 4 ; Midland, 40 Shares, %3 83 ; Cashel Extension, 54 ; Ditto, Additional, 8 ; Dover, New Shares No. 2, 205 ; Orleans and Bourdeaux, 73 • Boulogne and Amiens, 45 ; Great Northern of France, 54 ; London and Westminster Bank, 274.

3 per Cent Consols

994 100 Columbian ex Venezuela .. •

141 1

Ditto for Account

1001 Danish 3 per Cents

3 per Cent Reduced,

1004 Dutch 21 per Cents 632 34 per Cents

1044 Ditto 5 per Cents 995 Long Annuities 12 1-16 8-16 Ditto 4 per Cents 981 Bank Stock

2131 141 Mexican 5 per Cents 341 Exchequer Bilis prem. 61 63 Ditto Deferred 151 India Stock

286 8 Portuguese Kew 5 p. Chi. 1841 60 61 Brazilian 5 per Cents

90 91 Russian 5 per Cents. . .... 119 29 Belgian 41 her Cents

1014 24

Spanish (Active) 5 pet...Cents

281 Chillan 6 per Cents

100 2 Ditto 3 per Cents 1842 401

at an advance of from 2/. to 3l. The folowing are the bargains that have occe

entirely without foundation. Many of the lines yesterday sought after are toda