MONEY MARKET.

STOOK EVRIANGE, FaIDAY ATTERNOON.

A decided change has occurred in the state of the money-market, in conse- quence of the notice issued yesterday by the Bank of England, reducing the rate of discount from 3i to 3 per cent. This determination (which was not anti- cipated by the great majority of the London capitalists, although such an im- pression appears to have prevailed at Liverpool and Manchester) had the imme- diate effect of rendering money plentiful; and discounts and investments have been eagerly sought for, although before the notice was issued there was no desire to invest money for long periods except at high rates. The resolution itself ap- pears to have been forced upon the Directors by the very high state of the ex- change, and the continual flow of the precious metals into this country: since 1841 it has been almost ceaseless, and appears still to be on the increase. It is also nearly certain, that from the deficiency of the harvest upon the Continent any extensive importation of grain, or indeed any importation at all from thence, will be nearly impossible. All our supplies of corn and meal can only, therefore, come from the United States; and as payments for importations under this head are never made thither directly in specie, there is no probability of any drain of gold occurring during the autumn. The only argument against the present measure is that it will afford facilities to railway speculation: but, from the de- pressed state of the market, and with the experience of last year still fresh in remembrance, it is hardly to be expected that any great revival can occur. The rise in the prices of English Securities since the determination of the Bank Directors was known has been about 4 per cent. Consols for Money were yes- terday marked 954, and today 96*; while for Account, the quotation has ad- vanced from 96 to 96*. A slight reaction occurred just before the close of business today wheb Consols for Account were quoted at 96* 4. The premium of Exchequer Bills has advanced about 68., and is now las. to 208. In the Foreign Market, a general upward ird movement has occurred in almost every variety of Stocks; although the improved prices realized at first have not continued throughout the day. Some very large transactions have occurred in Mexican Bonds, consequent upon the discussion in the House of Commons on Monday evening ; and the price had up to yesterday risen from 221 to 241: a fur- ther impulse has been given to the Stock today, the closing quotations being about 244—within * per cent of the highest. Some improvement has occurred in Spanish and Portuguese Bonds, though the business transacted has not been im- portant. The expected Lisbon mail is known to have arrived; but her letters and papers were not delivered before the close of business.

In the Railway Share Market, the general feeling both of dealers and specula- tors appears to be in favour of higher prices; and an advance has occurred since yesterday in almost all the current varieties. The movement is, however, a very sober one, compared with what under similar circumstances has occurred former times. The French Shares are rather firmer; but no general revival of business in them can be noticed.

SATURDAY, TWELVE o'otoax.

The English Funds are rather firmer this morning; the current quotation show- ing an advance of 4 per cent upon those of yesterday. In the Foreign Market some large transactions have occurred in Mexican Bonds, at an advance of nearly 2 per cent upon yesterday's prices ; the intelligence brought by the Hi- bernia having given a decided impulse to this stock: the closing price of yes- terday was 24* 4; 254 was freely given at the opening of the market this morning, and the price speedily. reached 264, and is now 254 26*. The in- telligence from Lisbon has also improved Portuguese Stock about 1 per cent; business has occurred at 421 and 43, and the nominal quotation is now 42 to 44. No change or business in the other Foreign Stocks. The complexion of the Railway Share Market is good; but as yet we can only notice the following bargains: East Lancashire, 13; Great North of England, 229; London and North-western, Quarter Shares, 154; Scottish Central, New, 94; Shropshire Union, i discount; Vale of Neath, 14; West Riding Union, 3. SATURDAY, Two o'exeCs.

The English Funds have fallen back again and were last at the closing prices of yesterday. In the Foreign Market the impulse communicated to Mexican Stock has continued during the whole period of business, and the closing price of the Bonds is 261 a; thus marking an advance of full 2 per cent upon the closing prices of yesterday. Portuguese Bonds have also been in demand; and after being done at 44, the Four per Cents leave off at 42 to 44. No transactions have oc- curred in the Three per Cents. Spanish Stock is rather heavier. The other Foreign Funds are unchanged. The general appearance of the Share Market is good, although no material advance has occurred today in prices; which in some instances may be quoted lower: Aberdeen, 94; Ambergate, Notts, and Boston, 2 14; Bristol and Exeter, 85; Ditto, New, 104; Caledonian, 164* 16; Eastern Counties, 234 21; Ditto, New, 74; York Extension, 24 1; Great Western, Half- shares, 83; Hull and Selby, 103; Ditto, Half-shares, 50; Lancaster and Carlisle, 64; London and Birmingham, 208; Ditto, Thirds, 24; Ditto, Quarters, 15416; London and Brighton, 631 434; London and Croydon, 234; Midland, 139 40; Ditto, New, 371 4; Midland, Birmingham, and Derby, 1154; North Kent and Dover Direct, 14; Scottish Central, 194 204; Scottish Midland, 9411 South- eastern and Dover,434; Ditto, New, No. 2, 174; Etitto, New, No. 4, 31 a ; Dutch- Rhenish, 61 6; East Indian, 34 *; Namur and Liege, 21; Orleans and Vierzon, 15; Orleans and Bordeaux, 84; Paris and Lyons, Constituted, 6 5a.

3 per Cent Consols Ditto for Account 3 per Cent Reduced

at per Cents

Long Annuities

96} 961 f 36-} 1 98f

IC4 7-16 Colombian ex Venezuela... 15 16 Danish .3 per Cents 88 90 Dutch 2} per Cents- 50i 1 Ditto 4 per Cents 41 Mexican 5 per Cents...1846 :I I Bank Stock

208 210 New Grenada — Exchequer Bills prem. 17 20 Portuguese New 5 p. Cts.1841 42 44 India Stock

Ditto 4 per Cents 1845 • • • • 44 46 Brazilian 5 per Cents

57 9 Rusalan 5 per Cents 112 114 Belgian 4} per Cents

97 9 Spanish (Active) 5 per Cents 254. 6 Chilian 6 per Cents

99 101

Ditto 3 per Cents 1842 7