MONEY MARKET.
STOCK EXCHANGE, FRIDAY Arrsaacsal: There has been to. considerable pressure for money during the week, and a consequent depression of the prices of the Government Securities; all the Eng- lish Nunds bovine at one time been at quotations per cent. below those -of last Saturday. To-day, the demand for money has been considerably dimi- nished, awl a reaction of l per cent. has occurred. Consols for Account, which have been as low as 911,, arc to-day at 914 ; Reduced Three per Cents., which were at 911, are to-day 91; ; while Reduced Three-and-a-half per Cents, have advanced from 90 g, the lowest quotation of the week, to 100. There have been several small sales of Bank Stock, and it has fallen from 176, the quota- tion of last week, to 17-1:1: there is a slight reaction to-day, and the price is again quoted at 175. We are not aware of any particular cause fur this de- cline; as, whatever may be the proceedings of the Parliamentary Committee now sitting upoulthe affairs of the Bank, they are rot generally known; and we are rather unlined to refer the present depress:on to a growing belief among the shareholders, that the liens:it ies Dt the Corporation will compel tl:e I)i- !vetors to a further diminution of the an Exchequer Bills has been as low as 22:4., being a decline of ns. from the highest price of lost week ; but it has since improved, and is tenthly again quoted at 28s. to 253. It was annonnced to .day that the London agents of the Com- mercial Bank of Eugland had refused payment of the draughts of that establish- meet, and that it load suspended payment. This Bank, the chief office of which is at Manchester, and which it is undersdt7ffiodelltintlisese,i.gtthitiedetnhiberfialicutdi:.;fsiitt; connexion with it, bas been for some days in stoppage has therclinv created no surprise. It is an establishment of recent origin, with n large nonlinal capital, Int: lit: m which only 5/. per share has been paid up ; and its operations have been chiefly confined to the district at' which Manchester is the centre, where the pressure arising from its stoppage will be very severely felt. 'While more the subject orJoint Stock Batks, we may refer to the success of the establishments or this description connected with Australia. A meeting of the shareholders of the Union Bank of Australia was held yesterday ; when a dividend or !Ss. per share was declared fur the half-year just olden ; and it was resolved to augment the capital of the Company by one half. The divi- dend now advertised, in addidon to one of Hs. pet' share paid in the early part of the year, is lifter the rate of 9 per cent, per annum upon the capital em- ployed. In the Foreign Market, the transactions have been chiefly confined to Spanish South American Securities. Some surprise has been expressed that the agent of the Venezuelan Government has not yet published officially the communication recently rent iced from that Republic, conveying its acquiescence in the terms proposed by the Committee of Bondholders for the liquidation of the eremitic dividends of the Columbian Bonds. The terms offered and said to be agreed to are as follows—That the Republic shall pay a dividend of 2 per cent. upon its portion of the Columbian Debt, ffir a period of five years, and that the divi- dend shall thereafter lie augmented by per cent. in every succeeding year, until it amount to 6 per cent., which it will do in twenty-tone years. It is also proposed to convert all arrears of dividend into a Deferred Stuck, to commence bearing an interest of 1 per cent after ten years, increasing at the rate of per cent. in each succeeding year until such interest shall amount to 5 per cent. per annum ; so that in seventeen years from the date of the first payment of inte- rest, or in twenty-seven years from the period of the conversion, the whole Stock will bear interest. A depression has occurred in the price of the Bonds, and it has declined to 27.
Spanish Active Stock has also been depressed, and in the course of yesterday
was per cent, lower than the closing quotation of last week. The effect of the favourable intelligence from the army has been counteracted by sinister reports from aladrid; and as speculation is thus deadened, there have been no buyers to take air the quantity of stock thrown upon the market. The Railway Shares have given way, and the prices during the week have been heavy, from the pressure for money : there has been it reaction to-day, and though the quotations of last week line nut been reestablished, the improve- ment from the lowest quotations has been considerable.
SATURDAY, TWXINE
The usual monthly statement of the average Assets and Liabilities of the Bank of England has made its appearance: as compared with the last account, it exhibits a diminution in the mount of the Deposits of 124,0001, and in that of the Securities of 154,0001., while the Circulation has increased 104,000/. and the Bullion -1S,000/. It was expected that the last arrival from New York would have loonight a remittance for the dividends of the Morris Canal and Banking Company, which become due on the 1st July next ; but such remit- s:m(0 has net arrived; end a meeting of the shareholders has been summoned. for Monday nest to receive a communication from the Secretary on the sub- ject. The prices of the English Funds are the same as yesterday. In the Fo- reignfilarket, Spanish Active Stock has been depressed as low as 254; but some influential purchases have since caused a reaction, and the price is nv2o44t;t:'. The other Foreign Funds are the same. Railway Shares rather firmer ticaa yesterday. a per Cent. (7..iisals BA 5 Ditto Sir Aceount shot Belgian 5 per Cants.. 911 1 I Colombian 6 per Cents 271
3 or Celli. liedorett 91» Dani,11 3 per Cents
S; per Cent. Ditto 991 1 pewit 21 per Cents New: / per Cents. shot Portuguese Regency per Cm. 735i34)11-8I10
Paul: Stock 17-1} 5 I Ditio 3 per Cents
1.xelm,pier Bills ....... 4 pm. ffossiso 5 per Coos tore., shoe': nit I splash (Active) Brazilian 5 per Cents 761 71 121651116
Previous page
