MONEY MARKET.

STOCK EXCHANGE. FRIDAY ATVERNOON.

The English Funds have improved again during the week, and the quotations of Consols and Reduced were at one period yesterday 14 per cent above those of last Saturday. The prices have given way about 1 per cent in the course of the day, bat stall the closing prices of Three per Cent Stock are 1 per cent higher than our last. The Three-and-a-half per Cents have not improved in a similar degree ; the prices of yesterday having only noted an advance of from 4 to per cent, while those of today are nearly as they were on last Saturday. The probability that these two Stocks will soon be paid off, must of course militate against any great advance ha price when the quotations (as now) rule above par ; as in the event of their reduction, all that the present purchaser gives above par will be lost to him. Both Bank and India Stock have advanced, the former to 1671, and the latter, after being at 2474, is now 2464. Some persons affect to see in the recent improvement in the prices of the Public Funds a revival of the speculations of the year 1825; and predict that now, as then, the result of the re- duction of the Bank rate of discount will be a panic. Nothing, we think, can at present be dreaded on that score. The reduction of the rate of discount was forced upon the Bank Directors by the plenty of money, and it was expected to. occur long before the reduction was made. As yet there has been no specula- tion in the Funds, for the purchases have all been for Money ; and so completely has all the floating dock been absorbed, that the price of Consols for Money is within A of that for the Account the 25th May, while the demand for Re- duced Three per Cents and the Three-and-a-half per Cent Stocks has been so great that on several occasions the jobbers were glad to lend money upon them. at 1 and 2 per cent, in order, by so doing, to obtain stock for immediate de- livery. In addition to which, the rise has been almost entirely confined to- English Stock ; as will be seen by a comparison of today's prices with those of 12th April. It will also be found that the Foreign Funds have attracted but little notice.

Errousii Fusin.

Three per Cent Consols 901 91 Three-and-a-half per Cent Reduced 99 100

Three-and-a half per Cents (New) 1004 101*

Reduced Three per Ceuta 90 911 92

Price 011 12th April. Price on 29th April.

FOREIGN FUNDS.

Dutch Two and-a hilt per Cents 54 63 Russian Five per Cents 1124 113 Brazilian 67 671 Belgian 1031 lo-li Spanish Active 25 244 Mexican Fire per Cents 41 35 Columbian 27 264

Now those who remember the year 1825 will recollect that every description of Foreign Stock and Shares rose with unexampled rapidity; that the pur- chases were almost all speculative, and but little for real investment ; whereas now the English Funds have risen by the mere force of purchases for Money, and the Foreign Funds have made scarcely any improvement. This difference is- remarkable and consolatory. The transactions in the Foreign Market have not been extensive. The Mexican and South American Stocks have continued at nearly the quotations of last week. Portuguese Bonds have improved in all about 1 per cent. Spanish Active has been comparatively neglected, and the fluctuations in it have been quite unimportant. The Spanish Three per Cents have not reco- vered the depression of last week, and are now at about the same quotation as the Five per Cents. The Dividend-paying European Stocks have been rather more in demand, in consequence of the improvement of Consols, but no trans- action of importance has occurred in them. The only circumstance worthy remark as applicable to the Railway Shares, has been the determination of the South-eastern Railway Company to increase its capital 700,0004 by the sale of 28,003 new shares of 50/. each, at 25/. per share' or 25 discount. The Shares have consequently declined about 2L, and after being at 31/. are now 29/. SATURDAY, TWELVE O'CLOCK. There have been some extensive sales by the Chancery and Bank Brokers, and the English Funds have been quoted 4 per cent lower than the closing prices of yesterday. The Three-and-a-half per Cent Stocks have declined ; and there appears to be a disposition among the holders to exchange them for Three per Cent Stock, in anticipation of their reduction, many operations of that kind having taken place in the last few days. Prices generally have, however, rallied again, and are now the same as those of yesterday. Exche- quer Bills are 37s. to 39s. premium. The business of the Foreign Market has been quite unimportant, and we cannot notice any variation in the prices. There appears to be a disposi- tion to purchase South-eastern Railway Shares, and the price has improved, the Old Shares being 304 4, and the New 24 4 premium. Croydon Shares are offered at a slight reduction, in consequence of the increase of the tolls ; as are Greenwich. The other transactions have been as follows : Cheltenham and Great Western, 184; Eastern Counties, (New,) 5/. Iii. 8d.; Edinburgh and Glasgow, 544 4: South-western, 634; Croydon, 14 134; Midland Counties, 784 8; York and North Midland, (New,) 324. SATURDAY, FOUR O'CLOCK. The market has been very heavy from the causes noticed in the morning ; and during the afternoon, Consols both for Money and Account have been done at 924; but previous to the close of business an improvement took place, and the closing prices may be quoted as 924 4 for Money, and 924 4 for Account The Foreign Funds are without material alteration, with the ex- ception of Spanish, of whichthe Five per Cents close at 241 4, and the Three- and-a-half at 244 4. There have been several transactions in Railway Shares during the afternoon, and we have to notice the following in addition to those given n the morning: Great Western, 944; Ditto, (Fifths,) 104; Brighton, i 37; Birmingham, 182; Greenwich, 54; South-eastern (New,) 3 premium. London Joint Stock Bank Shares are also quoted at 12‘. Spec Ceut. Consols 984 f Columbian 6 per Cents 261 7

Ditto for Account 924 1 Danish 3 per Cents 801 814

521 ai

31 per 3 per Cent Reduced 914 4 Dutch 21 per Cents

Cent Ditto Mexican 5 per Cents Consd 341 5 New 31 per Cents 991040411 Portuguese Regency 5 perCts. 281 9 Bank Stock 167 8 Ditto New 5 per Cents 1841. 321 f

Exchequer Bills 37 39 pm. Ditto 3 per Cents 221 *

246 7 Russian 5 per Cents : Cents n Spanish (Active) 5 per 24 1 India Stock . 1114

Brazilian 5 per Cents 67 8 Belgian 5 per Cents .. ...... 1034 44 Ditto 3 per Cents 1812 241 t The monthly statement was published last night, of the average weekly

liabilities of the Bank of England for the quarter, namely, from 1st February to 232 April. As compared with the last statement, there is an increase of 293,000/. in the amount of the Circulation, and of 465,000/. in that of the Bullion; while the Deposits have been diminished 374,000L, and the Securities 688,000/. The amount of Bullion is now 6,590,0001.; being greater than it has ever been since April 1839. The circulation is also larger than any return since November. The inutility of this return is, however, made strikingly apparent upon its comparison with that of the general monthly averages of the circulation published by the Commissioners of Stamps and Taxes, of which the last return, on 2d April, gives the average circulation of the Bank of Eng- land for the four weeks then determined as 16,674,000/., while the return of yesterday states it as 17,235,0001.; and the Bullion, which in the return of 2d April is stated at 7,000,0004 la now given as 6,590,000/.