MONEY MARKET.
Stoox EXCHANGE, FRIDAY AFTERNOON.
A heavy decline has occurred this week in Government Securities, and the market has been occasionally over supplied with Money Stock ; but the chief operators have been the speculators for a fall; who evinced greater boldness on Wednesday, when it was announced that the Bank of England had en- hanced their rate for advances on Securities from 4 to 41 per cent. • As it is usually a half .per cent below the rate for discount, it was considered as a prelude to an increase in the latter ; and yesterday the rate of discount was raised to 5 per cent. No anxiety has been manifested among the leading bankers and capitalists for commercial accommodation, and until Wednesday the applications to the Bank for loans were moderate. It was at first ex- pected that the alteration in the discount would remove all fears of a renewal of the drain of gold, and provide against any further measure that may be adopted by the Bank of France ; but letters from Paris express a contrary belief; and notwithstanding the present state of the exchanges : would ren- der it unprofitable to send gold to Paris, it is alleged, with much surprise, that the Bank of France, to support confidence, is still making extensive purchases of gold at a loss, which will absorb a great portion of the recent arrivals : but its speedy return to this country is looked for. The remit- tances to Hamburg for purchases of silver have been discontinued, and be- yond the sums sent to Paris the only probable demand will be connected with the payments on the Turkish Loan and requirements of the Forces. The Bank rate for advances on Securities continues at 41 per cent ; but the dis- count-houses have advanced their terms of allowance for money at call to 4 per cent, and 4.1 for deposits. The decline in the Funds this week has been about 2 per cent. Yesterday, Consols were done as low as 884; but after the Bank meeting they rallied 1, upon the closing of some transactions for the fall. Today they have re- ceded ; closing at 884 1, and 88f 1 for Account. Exchequer Bills have fallen 3s. The depression in French Stocks has been about 1 per cent.
The Corn-market has receded 2s. this week. The bullion and specie arrivals have comprised 102,0001. from New York, 62901. from Lisbon, &c., and 6850/. from Australia.
Foreign Stocks have been heavy: Venezuela has declined 2; and Russian, Chilian, and Peruvian, 1. The principal transactions have been in Turkish ; the Six per Cents have experienced a considerable fall, amounting at one period to nearly 10 per cent. This was owing to alleged differences between the Porte and the Viceroy of Egypt ; and among other random reports, it is said that the Pasha shows less inclination to fulfil his engagements with the Sultan ; which may affect the regular receipt of the Egyptian tribute. The Stock has been down to 811, and the Guaranteed Four per Cent Scrip has been 21 discount : both are now higher. The fall in. the Scrip amounted to only 2 per cent, and arose from sympathy with the Six per Cents, although anything adverse to the political affairs of Turkey would made no difference to a stock guaranteed by England and France. The dividend on the Six per Cents has been advertised for payment. Railways have been very flat; partly caused by the arrangement of the Account on Tuesday. There were no symptoms of recovery until yesterday, when several of the leading lines, which compared with last week had pre- viously stood at a depression of 11. to 1/. 15s. advanced 10a. ; and today they are slightly better—London and North-Western is now 911 21: Great Western is very heavy at 541 5. French Shares are 158. to I/. lower.
SATURDAY, TErELVE O'CLOCK.
The English Funds are at about the same quotations they presented at the close yesterday ; Consols are 88f for Money, and 881 4 for Account. Ex- chequer Bills 3 die. 1 pm. The bullion return by the Bank of England shows a decrease of 429,848/. In Foreign Stocks there is no change of importance ; Turkish Stock is 85 1, and Four per Cent Scrip 14 1 die. In Railways there is no alteration ; the present bargains are Edinburgh and Glasgow, 50; Great Western, 544; .London and South-Western, 82; Lan- cashire and Yorkshire, 751; Midland, 651; North-Eastern—Berwick, 68k; Ditto York, 454; South-Eastern, 574.
SATURDAY, ONE O'CLOCK.
The English Funds have been 1 higher since the morning, but the rise has not been maintained ; Consols leave off at 881 1 for Money, and 881 for Account. Exchequer Bills 3.dis. 1 prem. Exchequer Bonds 9849. In Foreign Stocks, Sardinian-is 1 lower ; Turkish have improved—the Six per Cents have been done at 86 547 64; Ditto Four per Cent Scrip 11 41 die. Equador 5, Spanish Passive 41. Railways are slightly better, but the transactions have been comparatively few—Caledonian, 591 ; Edinburgh and Glasgow, 50; Great Northern, 861; Great Western, 551; .Lancashire and Yorkshire, 751; London and Blackwell, 64; London and North- Western 92; London and South-Western, 81k; Mid- land, 65k; North-Eastern—B4wick, 69; Ditto York, 46; South Devon, 12k; South-Eastern, 51k; Vale of Neath, 191. Preference Shares—Cale- donian 41 per Cent, 98; Eastern Counties Extension 5 per Cent No. 1, prem. ; Great Northern 5 per Cent Redeemable at 10 per Cent Prem., 108k; Ditto 41 per Cent Redeemable at 10 per Cent Prem., 100k; North British, 98; Antwerp and Rotterdam, 84; Grand Trunk of Canada, A Issue, 9k; Great Western of Canada, 241; Ditto New, 71 • Great Luxem- bourg Constituted Shares, Obligations, 3. Joint Stock Bank—Union of Australia, 70. Miscellaneous—Canada, 150; Canada Government 6 per Cent January and July, 1114; Crystal Palace, 2k; South Australian Land, 36.
3 per Cent Consols
Danish 3 per Cents 83 6 DILA) for Account 88! I Dutch 21 per Cents GI 6 $ per Cent Reduced shut Ditto 4 per Cents 93 7 New 3 per Cents shut Mexican 3 per Cents 211 f Long Annuities shut Peruvian 41 per Cents 75 7 Bank Stock shut Ditto 3 per Cents 57 9 Exchequer Bills 3 dis. 1 pm Portuguese 4 per Cents 4$ 5 India Stock 228 9 Russian 5 per Cents 97 9 Austrian 5 per Cents 80 2 Ditto 41 per Cents 85 8 Brazilian 5 per Cents 101 3 Spanish 3 per Cents 374 81 Belgian 41 per Cents 94 6
Ditto Deferred
191 1 Chilian 6 per Cents 102 4 Sardinian 5 per Cents 83 5 Danish 5 per Cents 101 3 Swedish 4 per Cents 87 90
RAILWAY ARRANGEMENTS.
The Directors of the North Staffordshire Railway have published the re- cent correspondence with the London and North-Western Company regard- ing the bill for amalgamating the two companies, and also respecting a de- mand of 43,9787. due for London and North-Western traffic sent over the North Staffordshire line within the past half-year, according to the provi- sions of the agreement between the two concerns. The principal question in dispute is, whether the bill for the proposed amalgamation had been re- jected by Parliament three times on its merits ; the North Staffordshire Company contending that it has been only rejected twice and suspended once in three sessions of Parliament, and have proposed the matter should be re- ferred to the arbitrators, Messrs. Hope, Scott, and Stephenson M.P. The London and North-Western Board have declined this offer, and state that the engagement between the companies ceased on the 15th of May Jest, on the rejection of the third and last application ; but express a desire to main- tain friendly relations with each other. The only question they are de- sirous to refer to the arbitrators, is the claim of the North Staffordshire for 43,9871, The matters in dispute are in the hands of legal advisers.
The half-yearly meeting of the Caledonian Company was held in Glasgow on Tuesday. Mr. 'William Johnston, in the chair, congratulated the meeting on being able to recommend a dividend at the rate of 3 per cent per annum ; and that while the traffic of many other lines Bad fallen off within the last half-year through the reduction of goods and minerals to be conveyed, the receipts of this line had increased by 10,794/. Allusion was made to the dif- ferences still existing between the Caledonian and Edinburgh and Glasgow Companies, and it was hoped that a few months of competition with their rivals would satisfy them of its injudiciousness. A meetiag of deputations from each Board had taken place, at which it was agreed to exchange pro- posals for a settlement, but without success. Resolutions were passed, that a deputation of three Directors be appointed to meet with the Edinburgh and Glasgow Directors; and that 375,000/. of new stock be created, and that when half was paid up 124,0001. should be borrowed.
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