MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The alarm noticed in our last report as having existed in the Money-market appears to have entirely subsided : the defeat of the Ministry upon the Canadian Corn Bill appears never to have been very probable, and it is now considered certain that the bill will be passed: some of the far-sighted see grounds of apprehension in the state of Ireland; but the public generally only appear to have considered that a fall had occurred in the prices of the Funds, and thence a favourable moment for investment had arrived. The market opened on Monday at the closing quotation of Saturday ; when a broker who had sold 25,000/. for the July Account on Saturday afternoon made his appearance, and as it was supposed that he was still a seller, there was a momen- tary indication of heaviness ; but as he purchased to the full extent of his previous sale, prices began immediately to improve, and in the course of the day advanced 1 per cent. The improved quotations were well supported up to this morning, when a further advance of / per cent has occurred ; Consols for Money having today been done at 96, marking an improvement of 4 per cent from our last prices, and of 11 per cent from the lowest price of last week. The settlement of the Account occurred yesterday, and was not remarkable for any thing but an increase in the " con- tinuation " or premium paid by the speculator to carry over Stock till the July Account : this at one period of the day was 1 per cent, being equal to an in- terest of rather more than 21 per cent per annum upon the amount of money employed. The Heavy Stocks have advanced from 1 to 4 per cent. Indian and Bank Stock have both been steady. Exchequer Bills have experienced a considerable depression. Those bearing an interest at 11d. have been depressed to 50a, and the advertised bills to 40s.; both have rallied today, and are quoted at 53s. to 55s. and 43s. to 45s. It would appear that capitalists are getting rid of these securities, no doubt in anticipation of a decline in the premiums to be occasioned by the increased value of money.

The books of the various Stocks, the Dividends upon which become due in July, will all close in a few days, at the periods indicated below- m OPEN. PEN.

Three per Cent Consols .. Thursday 1st Juue Tuesday 18th July. NewThree-anda.half per Cent Friday 2d June Tuesday 18th July.

Three per Cent, 1726 Thursday 8th June Tuesday 11th July.

New Five per Cents...... Friday 9th June Wednesday 12th July. Annuities, 1860 ...... Tuesday 6th June Wednesday 19th July. India Stock Tuesday 6th June Wednesday 19th July.

South Sea Stock, Wednesday 7th Jane Wednesday 12th July.

New Annuities. Three per Cents, 1751 Thursday 8th June Thursday 13th July.

The resumption of the scheme for the reduction of the Dutch Three per Cent Stock has given an impulse to the Two-and-a-half per Cent Stock ; which has risen about 1/ per cent, and after being at 57, closes today at 561 57: the Five per Cents are without any material variation. The transactions in the other Foreign Bonds, with the exception of those of Spain, have been unim- portant. A communication has been addressed to Mr. ROBINSON, Chairman of the Committee of North and South American Bondholders, emanating from many persons interested in Columbian Stock, begging for information as to the proceedings of the Committee in forwarding the conversion of the New Grenadian and Equatorial portion of the Columbian Debt; and the subscribers have been informed that the Committee will meet on Monday to consider their communication. The Spanish Three per Cent Stock had recovered to to 31g, in consequence of a declaration of the late Ministry that they would respect the contracts of their predecessors; which was taken to mean that th would appropriate the money already provided for the payment of the July Dividends upon the Three per Cents to that purpose. The news of their fall, however, produced a decline to 30; since which the market rallied nearly 1 per cent, to fall again today to 30, upon the receipt of intelligence of some disturbances having occurred at Madrid. The observations of AacoxLLEs, condemning the preference shown by the Finance Minister to the Three per Cents, had the effect of altering the relative difference between these secu- rities and the Five per Cents Active: the current difference had been 10 per cent, but had since diminished to 9; the Active having risen, and the Three per Cents remained stationary. The difference has increased again, but is to- day very little more than 9 per cent ; the closing price of the Active Five per Cents being 20/ 21, and that of the Three per Cents 30 h

The transactions in the Railway Shares have not been extensive: there ap- pears to be a disposition to decline in most of these securities. The quota- tions of Birmingham, Great Western, and South-western, are tolerably well supported; and South-eastern are marked at a slight advance ; Brighton, and the majority of the minor lines, are on the decline.

A very elaborate report upon the past and present condition of the Black- wall Railway (the result of the labours of a Special Committee of investiga- tion) has just been published and circulated among the proprietors, with a view to the Special General Meeting to be held at the London Tavern, Bisbopsgate Street, on the 8th June next. It appears that the total cost of the Railway amounts to 1,080,8181. 9s. ld.; and, after estimating all its liabilities and assets, it also appears that a balance exists in favour of the proprietors to the amount of 11,028/. 12s. 2d. The increase in the traffic for the nine-and-a-half weeks since the reduction of the fares, as compared with the same period of last year, has been to the extent of 15,700 in the number of passengers; the amount of tolls received has decreased about 950/. The report gives a triumphant answer to the supposed dangers of railway-travelling : during the two years and three quarters that the Blackwell Railway has been open, 5,496,549 passengers have been conveyed upon it without the occurrence of a single accident. The tone of the document is generally of a sombre character ; but it indicates a source of future prosperity to the Company, in the conclusion of arrangements by which an extensive system of steam-boat conveyance shall be organised in conroction with the railway ; recommending the application of the surplus capital to that purpose, or the formation of a Steam-Boat Company, to be composed of shareholders in the Railway.

SATURDAY, TWELVE O'CLOCK.

The dismissal of Mr. O'Connell from the Irish Magistracy, being taken as an indication of future repressive measures on the part of the Government against the Repeal agitation, has caused a decline in the prices of the public securities; which are now at / per cent below the closing prices of yesterday. Consols for Money opened at 95i 6, and have since been at 951, while for Ac- count they have fallen from 96/ to 95/. Exchequer Bills are the same. The only transactions of importance in the Foreign Market have occurred in Spanish Stock, which has declined 1 per cent; the Three per Cents having fallen to 29fi and the Active to 201, without the occurrence of any business of im- portance. The unsettled state of the Government in the Peninsula is operating to the prejudice of its securities; and it is anticipated that the next arrival from Madrid will bring accounts of the dissolution of the Cortes, and perhaps of the establishment of a Dictatorship. The only transactions recorded as

having occurred in Railway Shares, are in those of the Brighton line, which are quoted at 33 and 32/.

SATURDAY, FOUR O'CLOCK.

The English Funds recovered slightly in the course of the afternoon ; but have again given way, and close at the morning's quotations. Spanish Stock has improved, and the market closes with a firmer appearance; the Three per Cents being at 297E 1, and the Active, 20i g. The other Foreign Funds are the same.

We have to notice the following transactions in Shares in addition to our morning's report. London and Westminster Bank, 22/ ; Eastern Counties, Debentures, 10i ; Great Western, 901; Ditto, New, 66 51; Birmingham, Thirds, .66/ ; Ditto, New Ditto, 36 ; Manchester and Birmingham, 221 ; South. eastern and Dover, 231 g; Ditto Scrip, 211 g; Birmingham and Derby, 41.

3 per Cent Consols 95 4 Chilian Deferred 31 3 Ditto for Account 96 Colombian 6 per Cents,1824. 24 4

3 per Cent Reduced 944 Danish 3 per Cents 85 6

p

1014 1 Dutch 24 per Cents

34 per Cent Ditto. 561 i New 34 per Cents 1024 1 Ditto 5 per Cents 1 Bank Stock for Account 180 81 Mexican 5 per Cents Coned . 21900 1

Exchequer Bills prom 53 5 : 144

Portuguese New 5 p. Cut. 1841 401 I/ India Stock 265 6 Russian 5 per Cents

1134

Brazilian 5 per Cents 73 5 Spanish (Active) 5 per Cents. 201 4

Belgian 5 per Cents 102 3 Ditto 3 per Cents 1842 291 1

Chilian 6 per Cents . . 92 94

The usual monthly statement of the quarterly average of the weekly liabi- lities of the Bank of England for the thirteen weeks ending 20th instant, ex- hibits as compared with the last return, a diminution of 386,0001. in the amount of the circulation, and of 480,0001. in that of the deposits, while there is an in- crease of 109,000/. in the securities, and of 101,0001. in that of the bullion. If compared with the return of 25th February, from which period the present average commences, there is an increase of 114,0001. in the amount of the cir- culation, of 1,0001. only in the securities, and of 346,0001. in that of the bullion. If the comparison be carried back to the corresponding period of last year, we find an increase of 2,317,0004 in the amount of the circulation, and of 4,259,0001. in that of the bullion : the present amount of the circulation being 19,853,000/. against 17,536,0001. in May 1842; while the bullion, which now reaches 11,291,0001., was, at the corresponding period of last year, 7,032,0001.