MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

On Monday, the Directors of the Bank of England, without the formality of a notice, reduced their rate of discount to 7 per rent. It was expected yesterday that a further reduction to 6 per cent would have taken place, but this anticipa- tion was not realized. From the statement of the Chancellor of the Exchequer in the debate on Tuesday, that the establishment had 5,000,0001. of notes in re- serve and upwards of 10,000,0001. of bullion, it would appear that a very large increase under both these heads has taken place within the last few days. The anticipated deficiency in the revenue, which will render necessary some assist- ance from the Bank in order to the payment of the January dividends, must im- pose caution upon the Directors, and they will probably wait a still further in- crease of their reserves before they venture upon another reduction of their rate of discount. In the mean time, money is of easy attainment on first- rate bills at from 6 to 6* per cent; and the general aspect of com- mercial affairs improving. the only failure of importance during the week has been that of the West Indian Bank; the drafts of that establishment brought by the last mail having been refused acceptance by the Union Bank. No actual stoppage of the West Indian Bank has occurred, but it is deemed inevitable. In the Stock Exchange the prices of Stock of all descrip- tions have experienced a considerable advance; principally occasioned by the ne- cessity imposed upon the speculators for the fall of providing Stock for delivery on the settlement of the Consol Account, which took place yesterday. A consi- derable demand, for Consols especially, then occurred; when the price for Money advanced to 86, being an improvement of 14 per cent since our last report. This quotation, however, was not long maintained, and prices declined gradually both today and yesterday; the closing price for Money being 844 k, and for the January Account 854 4. Several failures have occurred in the Stuck Exchange; but the liabilities are not large, and the dividends in every case will be respectable. Ex- chequer Bills have fluctuated between a small discount and trifling premium, with a steady market.

In the Foreign Market, an improvement is observable in the better class of Dividend-paying Stocks; many of which have advanced to quotations nearly as high as th y realized in the beginning of October. Mexican Bonds are without any material change, in the total absence of intelligence from Mexico. The Pe- ninsular securities are slightly firmer; both Portuguese Bonds and Spanish Three per Cent Stock having advanced about 1 per cent. The general feature of the Foreign Rinds is inactivity; and there is no revival of business or speculation in them.

The Share Market is firmer, and the transactions, though not important, are more numerous than usual. In the great lines an improvement of from 1/. to 21. is observable; while the lesser varieties are all in demand at improved prices. The French lines indicate a trifling degree of improvement; but the market has not been in so active a state as it was last week.

The accounts of the Bank of England, for the week ending November 20, exhibit when compared with those of the preceding week the following results—

BANKING DEPARTMENT.

Rest Public Deposits Other Deposits Seven-day and other Bills Government Securities, Including Dead-weight- Other Securities Notes unbtaued

Actual eiradation

Issv DEPARTMENT.

Notes issued Bullion Total Bunton In both Departments 10,016,957 9,258,520 Actual Circulation 19,297.750 20,050,665

It will be seen that the amounts of the reserves of notes and bullion do not agree "nth than stated by the Chancellor of the Exchequer on Tuesday; this da- Increase.

14,22812,037344 Decrease.

£445,689

2 ,691 50,000

769,341 1,430,385

742,915 677,470

758,437

Thu week. Last week. crepanq is to be accounted for by the circumstance of a lame increase having occurred under both heads on Monday and Tuesday, and the Parliamentary state- ment referring to the accounts as made up to the latest period.

SATURDAY, TWELVE o'Otocx.

The English Stock Market opened at the closing prices of yesterday, Consols for Money being done at 84k, and for Account at 851. It has since gone back about k per cent; the present quotations being 844 4 for Money, and 85k for the Account. There is no change or business of importance in the Foreign Funds. The Railway Shares are not so much in demand as yesterday. The following are the only transactions as yet recorded: Eastern Counties, 16a ; Great Southern and Western of Ireland, 23; North-western, 1551 154; South-western, 55k 55,• Manchester, Buxton, and Matlock, 1; blidland, 1084; Ditto and Birmingham and Derby, 83; North British, 26* 7; North Staffordshire, 7 4; Oxford, Wor- cester, and Wolverhampton, 19k; York and East and West Riding Junction, 28,1„ SATURDAY, Two o'CLocz.

In the course of the morning, the English Stock Market recovered itself, and the price of Consols for Account reached 854. A sale of 100,0001. at 85} caused another downward movement, to 854. Several speculative purchases afterwards occurred, and they again forced the quotation up to 854: at the close there were buyers of Consols for Account at that price. Bank Stock has been quoted at 188a, and is last marked at 187. India Stock has been done at 232. Ex- chequer Bills have been steady at from 2s. discount to par. In the Foreign Mar- ket there has been no change, and the following are the only bargains recorded: Porte 76; Spanish Active 174; Three per Cents, 29 28.4; Dutch, Two-and-a- half per Cents, 544; Ditto, Four per Cents, 834. The business in the Share Market, though general, has not been important. There does not appear to be so good a demand, and with few exceptions the transactions recorded indicate a decline in prices. The following are the principal bargains since the morning. Aberdeen, 22k 3; Bristol and Exeter, 63; Caledonian, 354 4 *; Eastern Coun- ties, 164 4; Edinburgh and Glasgow, 47 6; Great Western, 100k 101; Ditto, Quarter-shares, 17 16* 17 4; Ditto, New, 74 4; Lancaster and Carlia'e, 52; London and Blackwall, 54 5; London, Brighton, and South Coast, 424 k 3 21; London and North-western, 153 4; London and South-western, 544 54; Midland, 1084 109 8; Northern and Eastern, 484; North Staffordshire, 74; Oxford, Wor- cester, and Wolverhampton. 20; South-eastern and Dover, 29k; York and North Midland, 754 4 5 6; Ditto, East and West Riding Extension, 284 28; Boulogne and Amiens, 15*; Luxembourg, 4; Northern of France, 121; Sambre and Meese, 6*.

3 per Cent Consols

Ditto for Account 3 per Cent Reduced 31 per Cents Long Annuities Bank Stock Exchequer BUB India Stock Brazilian 5 per Cents Brazi Belgian 4/ per Cents Buenos Ayres 6 per Cent..., ChIllan 6 per Cents 851 1 Danish 3 per Cents Dutch 21 per Cents 83 1 Ditto 4 per Cents• 841 85 Mexican 5 per Cents 1846. • • 01 i New Grenada 1881 7 Portuguese N.4 perCents1842 2 die. par. Peruvian 232 Rusalan 5 per Cents 78 80 Spanish (Active) 5 per Cents 89 91 Ditto 3 per Cents 1842 — Venezuela 87 90

82 4 541 83 4 151 161 181 191 211 22/

106 8

17 281 9 34 6