MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The extreme easiness of the Money Market and the enormous amount of bullion accumulating uninterruptedly at the Bank hits not yet succeeded in producing even an average amount of business in the Stock Exchange. There are scarcely any bargains of importance but what are made among the dealers themselves ; the public seems to avoid entering into any transactions of a speculative character, and the Consul Market, usually active during a time of ease in monetary affairs, remains almost entirely neglected ; the whole fluctuation of the week does not exceed h per cent, the final quota- tionsthis afternoon being the same as at the opening on Monday; prices how- ever have exhibited a remarkable firmness, and although occasionally stocks have been momentarily depressed, a recovery to the original quotation has invariably occurred at the close of the market. The announcement made yesterday that the Bank of France had reduced the rate of interest from 31 to 3per cent only had a temporary effect upon securities here, the measure having been for some time anticipated. This has been another dull day, only a few of the regular dealers being present ; the India Loan Scrip second issue is somewhat in greater demand and the price is now ssi 981. Consols for money, 971971, and for Account, 97#97k.
The Foreign Market has been very inactive, and Stocks, though at nomi- nally the same prices are in effect weaker. The purchases for the Sinking Fund in Peruvian have principally occupied the attention of the jobbers ; that, however, is now completed, and, as might have been expected, the quotation has receded 1/ per cent. The New Turkish Scrip has remained
steads, at dis, to par ; the first settlement took place on Tuesday, and passed over very satisfactorily. The unappropriated balance on the Mexican i Dividend Fund n the Bank of England is at last to be divided, at amounts to about 1 per cent on the stock ; the division takes place after the 1st proximo. Mexican leaves off 21/ 22; Peruvian Four-and-a-half per Cents, 901 911; Peruvian Three per Cents, 71 to 72; Belgian, 98 100; Equador, 14; 15; Turkish Six per Cents, 96 961; Ditto Four per Cents, 104 1041. Spanish Stocks have been in good demand—the Three per Cents are as high as 461 46j; the Deferred, 291, 301 ; the Passive, 111 12; and the Committees Certificates, 51 ; Venezuela Active, 39i 40k; Victor Emmanuel, 921 931; Brazil Four-and-a-half per Cent, 96,1 961. Transactions in the English Railway Share Market have been very limited, and prices all round have undergone little or no change, the chief bargains, however, have been of an adverse character, and although today there have been slightly improved markets, upon the whole the tone 113 flatter than at the end of last week ; traffics are reported better, which had the effect of producing a little more firmness yesterday and today ; but there is really a very slight amount of business doing in either English or French shares, the latter are just about the same as last week, the reduction in the Bank rate, contrary to expectation, did not cause any improvement. Lon- don and North-Western, and Manchester, Sheffield, and Lincoln have both drooped per cent ; Midland, 961 97; Great Western, 501 51; Lancashire and Yorkshire, 941 95; North British, 56 561; Berwick, 93 93k; Oxford, Worcester, and Wolverhampton, 131 141' Brighton, 109 111; Caledonian, 421 42k; Atlantic Telegraph, stationary at 300 330; Red Sea, ditto, 1 1 prem. ; Indian and Australian, ditto, # # prem. Nothing of importance passing in the Miscellaneous markets.
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