MONEY MARKET.
STOCK E XCHANOR, FRIDAY A STYR NOON.
A sudden and unexpected change has taken place in the Money Market. Instead of the abundance of available capital which has been such a remarkable feature for several months, a complete scarcity of money has existed for the last few days. The rate of interest paid for loans upon English Stock has been as high as 5 per cent. ; while the pressure in the Foreign Markets has been such as to force the speculators to give a much higher rate. This altera- tion is chiefly to he attributed to the uncertainty in which the existence of the present Government is involved. The capitalists generally, although Tories in their hearts, are not so blind to their own interests as to be ignorant of the fact, that the formation of a Tory Cabinet will renew the mistrust with which the attempt was accompanied on the last occasion ; and the near approach of the shutting of the Bank hooks, makes them unwilling to lock up their capital by lending it on Stock till the middle of January, at comparatively low rates of interest, when a very great demand for money may be created, which will give it a value far beyond the present one. The price of Consols, however, has not given way ; 91 having been the lowest price for Money. The settlement of the November Account took place on Wednesday, and was only characterized by the more than ordinary difficulty of raising money upon Stock. In the Foreign Market, the Spanish and Portuguese Securities have been in an unusually tranquil state ; the principal business of the week having been in Dutch Stock, of which several very large purchases have been effected. The impulse thus given to the Market is stated to have arisen from the currency which it is expected these Bonds will obtain in the Paris market. Ever since the first introduction of Dutch Securities on our Exchange, the persons in- terested in them have endeavoured to obtain the same advantage for them on the Paris Bourse; and it is only at the present moment that there has existed any chance for them ; and it is, however, understood that some of the leading French capitalists have combined to effect this object, and the rise of nearly I per cent, which has taken place in these Securities, has been in anticipation of the demand which the opening of a new market would create.
We are still without intelligence of the result of the negotiations for the new Spanish Loan. The last accounts from Madrid are to the 9th instant; at which period, the time fur receiving the biddings had not been postponed. It ia, therefore, confidently anticipated that the result will become known on Monday. Notwithstanding the pressure for money, the prices of Stocks generally have been maintained in an unexpected manner, although the Markets are heavy at the prices quoted.
SATURDAY, FOUR o'cuacs.
Consols close A per cent, higher than the morning's price, viz. 9li i. Spanish Stock has also improved, and the closing price is 56i 4. It is cur- rently rumoured that the advices from Madrid have brought intelligence of the conclusion of the contract for the Loan ; but we believe that this report is pre- mature, and that it has arisen from the circumstance that as only one bidding would be offered to the Goveinment, there could be little doubt that it would be
accepted.
3 per Cent. Consols Ditto for Account New 3} per Cent. Annoities Bauk Stock India Stock Exchequer Bills.
Belgian 5 per Cent. Brazilian 5 per Cents. ex. dm. Danish 3 per Cents. ex. div
91i 91 i I 99} — 263} 34 36 95} t 78s t —
Dutch 2} per Cents
French 3 per Cents Greek Omnitim.i eer Cents
Mexican 6 per Cents Portuguese 6 per Cents.
Do.ltegencyStock,5perCent. Prussian ( ISIS) 5 per Cent • • Russian ( 1822) Spec Cent
Spanish (1821)5 per Cent 53i 41i 861 1 100} 55/ I SATURDAY. TWKEVR O'CEOCK. We have very little to report this morning.: with the exception of Spanish Stock, the prices are generally the same as those of yesterday. e are still without any information as to the negotiation of the Loan in Madrid ; but as our advices to-day came down to '22nd, and the result.was to he determined on the following day, there can be little doubt that this subject will be set at rest by the next arrivals.
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