MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON,
The pressure has increased severely during the last week, and appears still to go on augmenting. The numerous and important commercial failures are nar- rated in a preceding page. The Bank of England have been compelled to retrace their steps: yesterday the Directors rescinded their determination of last week to extend the term of discount from thirty to sixty days at sit per cent; and to- day they declined to renew a large amount of loans upon Stock and Exchequer Bills, which had arrived at maturity, and for the repayment of which the bor- rowers had, in the expectation of renewal, made no provision. In consequence of this refusal, a large amount of Stock was thrown upon the market; and under the effect of the forced sales, Consols fell 1 per cent during the day, the price for money declining from 851 to 84j, and for Account from 851 to 841. This fall took place upon a previous decline of similar extent; so that the lowest quotation of today was 2 per cent below the price of Saturday last. An upward reaction occurred after the sales for money ceased; and, after touching 85 for Account, the closing quotations are for Money 846 6, and for Account 841 The rate of discount at the Bank is nominally the same, but we understand that no accommodation is obtainable at a lower rate than 6 per cent; while in the Stock Exchange, the current rate of interest for loans upon the security of Stock and Exchequer Bills, which had fluctuated from 5 to 6 per cent, may today_be quoted at 7 per cent and upwards: Bank Stock is done at 196; being a fall of between 4 and 5 per cent. To show the extreme pressure for money, we notice the fact that an eminent broker, having 6,0001. India Stock to sell, the nominal price of which was 230, was unable to obtain any higher offer than 220: the Stock consequently remains on the market. In the Foreign Market, the business transacted has been unimportant, and nil material depression in prices can be noticed. The intelligence from America produced a favourable effect upon the price of the Mexican Stock: but the tea- dency to rise has been checked by the failure yesterday of a broker who was large speculative holder, and by whose insolvency *considerable amount of Steak,
was thrown upon the market. A slight improvement occurred today, and the Stock is firm at the current quotations.
The decline in Railway Shares has been considerable; and the closing quota- tions of today are in almost every instance the very lowest recorded since 1844. The most remarkable decline has been in the Midland, which have fallen about 71., viz. from 1151 to 108,. North-western are about 51. lower; Great Western, about N.; Lancashire and Yorkshire, about Si.;and the others in proportion. The maturity of calls presses severely upon the holders. Caledonian have fallen about 41., in consequence of a call of 101. due today; Oxford, Worcester, and Wol- verhampton, about 81., a call upon them becoming due on the 12th instant. The French Shares are all lower: the slight indication of improvement noticed last week has not continued.
SATURDAY, TWELVE O'CLOCK.
The weekly accounts published by the Bank of England possess unusual in- terest at this moment. The last, for the week ending on the 25th September, show the following items of increase—public deposits, 708,6731.; other deposits, 298,9691.; seven-day and other bills, 3,0631.; other securities, 1,266,7461.; rest, 22,1341.; actual circulation, 146,1201. A decrease is observable in the following— notes issued, 14,530/.; notes in store in banking department, 160,5501.; bullion, 97,7871.: the gross amount of bullion in store is 8,782,7031. against 8,880,4901. last week. The actual circulation is now 18,078,5851.; last week it was 17,932,4651. The English Funds are depressed. Consols for the Account opened at 844 f, have sines been done at 841, and are now 84t 1. For Money the price is 841 1. India Stock is marked 228. India Bonds have been done as low as 20s. discount. Exchequer Bills are also at a discount; large bills being quoted at 5 to 3 dis.; and small at 2 dis. to 2 premium. There has been no change in prices or business of consequence in the Foreign Market. The few transactions as yet recorded in Railway Shares are indicative of decline; we have to notice the following: Cale- donian, 501. paid, 35; Eastern Countieu, 161; East Lancashire, 15; Edinburgh and Glasgow, 51; South-western, 56; North British, 244; South-eastern and Dover, 30; York and Newcastle, Preference, 91; York and North Midland, 71/ 69.
SATURDAY, TWO O'CLOCK.
The English Funds after considerable fluctuation close at the morning's quo- tations. In the course of the day some large sales of Exchequer Bills were made by the Bank broker; those Bills, it is reported, being securities upon which the Bank had made advances that the borrowers were unable to repay. The price declined under this pressure to 10s. discount, which is the last quotation. Daring the alarm thus occasioned, the price of Consols for Money fell to 84, and for Account to 841. When the Bank sales ceased, there was an upward move- ment in Stock; and at three o'clock, to which hoar business was prolonged, the closing quotations may be cited as 841 1 for Money, and 844 for Account. India Stock is marked at 228, 223, and last at 227, and Bank Stock at 195 and 196. We have no transaction in India Bonds since the sale at 20s. discount in the morn- ing. In the Foreign Market, business has occurred in the following Stocks, in all of which the quotations mark a decline: Brazilian, 1829, 74 77 ex div.; Grenada, 17; Portuguese, Four per Cents, 23; Spanish Passive, 41; Ditto, Three per Cents, 28; Dutch, Two-and-a-half per Cents, 534 21; Ditto, Four per Cents, 82 3. The downward movement in Railway Shares still continues, and it will be seen by the following record of transactions since the morning that prices are in almost every instance lower. North-western have fallen 41. upon the day's business. Caledonian, 36 541; Chester and Holyhead, 154; Eastern Counties, 16 154 4: London and Blackwell, 5 A; London, Brighton, and South Coast, 41; London and North-western, 155 151; London and South-western, 56; Midland, 105 1 7; Newcastle and Berwick, 281; North British, 241 5; North Staffordshire, 71 1 1; Oxford, Worcester, and Wolverhampton, 11 101; South-eastern and Dover, 30 29; Boulogne and Amiens, 134 1 18; Central of France, (Orleans and Vierzon,) 141; Northern of France, 931 4; Rouen and Havre, 20; Sambre and Meuse, 6 1; Tours and Nantes 2; West Flanders, 2f per Cent consols .. 842 Danish 5 per Cents 80 2
841 # Dutch 24 per Cents 524 34 3 per Cent Reduced shut Ditto 4 per Cents 82 3 3} per Cents ... . . .. . Mita . Mexican 5 per Cents.. •1846 181 19 Long Annuities Ether , New Grenada 17 18 Bank Stock , 195 196 Portuguese New 5 p. Cts. 1842 23 5 Exchequer Bills 10 dis. par. Peruvian 30 4 228 3 7 Russian 5 per Cents - India Stock 104 6
Brazilian 5 per Cents 77 9 ex div. Spanish {Active) 5 per Cents 181 194
Belgian 44 per Cents 88 90 Ditto 3 per Cents 1842 28
Buenos Ayres 6 per Cent ... 33 5 Ymmuela 34 7 Staten 6 per Cents 85 7
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