MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The business of the week has not been of a very important character, and the fluctuation of the English Funds has not exceeded 4 per cent; for al- though the market has been depressed to that extent, it has since recovered, and the quotations of today are the same as those of Monday. The probability of the resumption (at the commencement of the next year) of the purchases on account of the Sinking-fund has become a matter of speculation. According to the provisions of the 10th George IV. cap. 27, by which the proceedings of the Commissioners for the Reduction of the National Debt are now regulated, the Lords of the Treasury are, within thirty days of the termination of each quarter of the financial year, to present an account of the income and expendi- ture of the United Kingdom for the year then ended ; and one-fourth of the sur- plus income (if any) isto be invested by the Commissioners for the Reduction of the National Debt for the purposes of the Sinking fund, during the three months next ensuing. For some time this act has been totally inoperative, the expenditure of the country having exceeded its income. Neither are its provisions strictly complied with, as the return required is not furnished by the Lords of the Treasury within the thirty days specified, or at least is not pub- balled for general information till three months after the termination of the year to which it applies. Thus the notice published on the 10th October states the excess of the expenditure over the income for the year ending 5th July 1843 as 651,4971., while it is now known, that had the return been made up to the 10th October, instead of a deficiency, as above stated, it would have shown a surplus of income over expenditure of about 900,0001. The next return, therefore, to be published on 5th January 1844, will show a surplus revenue to the extent just stated ; and consequently it is expected that a sum of 225,0001. will become applicable to purposes of the Sinking-fund during the three months ending 5th April 1854. Should these anticipations be realized, it is quite evident that an impulse will be given to the value of the Public Securities, and a great improvement may be expected. There have been some rather extensive transactions in the Foreign Funds; and generally there seems to exist a disposition for speculative investment in the South American and other less worthy descriptions of Bonds. Peruvian have improved between 2 and 3 per cent ; Chilian Deferred, about 5 per cent ; and the Venezuelan, and other descriptions of Stock into which Colombian have become converted, have assumed a firmer appearance, though we cannot notice any improvement in the price of the latter. Dutch Bonds, both Two- and-a-half and Five per Cents, have been and continue in demand. The prin- cipal object of speculation has been Spanish Stock ; to which the apparent sta- bility of the Government now established at Madrid has given increased value. The operations of the speculators have been principally confined to the Three per Cents; which have been today about 1 per cent above our last quotations ; while the Active Five per Cent Stock has not advanced more than jf per cent. Among the other causes for improvement, we may notice a report that a large portion of the dividend which will become due in January next upon the Three per Cents is already in hand; and another that the agency is about to be trans- ferred to the house of ROTHSCHILD; but this latter rumour does not obtain any credit.

There is a general disposition to purchase almost every description of Shares. Several of the neglected Mining Shares are now quoted, after a long interval of oblivion. Among the Railways, prices continue to advance ; in some in- stances in a remarkable degree, as in that of the Northern and Eastern ; the Shares of which have risen in a few weeks from 15L discount to 4/. premium, in consequence of the junction of this company with that of the Eastern Coun- ties, which was definitively agreed on at a general meeting of the proprietors this week. The great improvement in the trade of the country is also extend- ing itself to these undertakings ; and the tolls of all the principal lines show a comparative advance.

SATURDAY, Two o'cLoes.

The English Funds close at an advance of * per cent upon our morning's prices, and are quoted at 954 for Account ; the simultaneous occurrence of two or three purchases having caused an improvement. The only business in the Foreign Market of importance has been in Spanish Stock; of which the Three per Cents, after being at 294, have improved to 30*; and the Five per Cents, which had fallen to 20/, have risen to 214.

We have to notice the following transactions in Railway Shares in addition to those given in the morning : Eastern Counties, 94 ; Ditto, Scrip, 1 ; Birmingham, New, 23; Paris and Rotten, 274 ; South-eastern and Dover, Scrip, 28.

SATURDAY, TWELVE O'CLOCK.

There is scarcely any thing doing in the English Funds, and prices are the same as yesterday.

The only change occurring in the Foreign Market is in Spanish Stock, which is lower in consequence of the decline at Madrid. The Three per Cents, which opened at 30*, are now offered at 30; the Five per Cents are but lower, being 204 4.

We can only notice the following bargains as having occurred in Railway Shares: Great Western, 90; Ditto, Half Shares, 65 ; Croydon, 13*; Northern and Eastern, 49 84; Ditto, Scrip, 184; Ditto, Quarter Shares, 141; York and North Midland, 112 111. 3 per Cent Consols Ditto for Account

95t * 95/ I Chilian Deferred Colombian 6 per Cents,1894 45 47 3 per Ceut Reduced

941 5 ex Venezuela lit I 31 per Cent Ditto.

102 Danish 3 per Cents 55 56 New 34 per Cents

1024 Dutch 24 per Cents 531 Beek Stock fur Account

179 80 Ditto 5 per Cents 99 Exchequer Bills prem. 62 8 Mexican 5 per Cents Coned .

30441

India Stock

269 704 Portuguese New 5 p. Cts.1841 434 Brazilian 5 per Cents

72 74 Russian 5 per Cents 1154 Belgian 5 per Cents

103 6 Spanish (Active) 5 per Cents. 21/ Chilian 6 per Cents

100 1 Ditto 3 per Cents 1842 304