MONEY MARKET.

STOCK ETCHANGS, FRIDAY AFTERNOON.

The English Stock Market has been more than usually agitated. The de- cline of the French Funds in Paris on Monday, and the warlike tenour of the intelligence from Germany received on Tuesday morning, produced a decline of per cent in the price of Consols on that clay, although on Monday the market had been very firm. During Wednesday and yesterday prices gra- dually improved, and the quotations of Monday afternoon were restored.. Another decline occurred this morning, followed by a trifling reaction, in the afternoon, when the closing price of Consols was 968. I both for Money and Account ; being about the average price of the last seven days. The predo- minance of sales is still remarkable, and but for the cheapness of money, Stock would be pressed upon the market. An improvement in the rate of exchange upon Hamburg occurred this afternoon to the extent of about I. per cent ; the rates upon Paris and Holland were without material change.

In the Foreign Market, some fluctuations have occurred, but the businesa has not been extensive. Some bargains have occurred in the Russian Four- and-a-half per Cent Loan, which after fluctuating about l per cent closes from 1 to 1 per cent lower than last week. The Russian Five per Cents have been but little dealt in; and are nominally quoted from 1 to 2 per cent lower. The same remark will apply to the Dutch and other European Stocks; all of which, in the absence of any important business, are at a decline of from 1 to 2 per Cent. Nothing of importance has been received from Mexico : in the absence of any external excitement the market has flagged, and is about per cent lower than last week. The South American Securities are also heavier ; and generally there appears to be an indisposition to speculation. or investment in Foreign Stocks. Scarcely any transactions have occurred in Portuguese Bonds ; they are nominally the same as last week. Advices from Madrid on Monday brought notice of the plans submitted to the Government by the Committee appointed to consider and determine upon the best plan for the conversion of the Spanish Debt. These plans are three in number, and all agree in the proposed conversion of the entire capital of the Active debt into a Stock bearing 1 per cent interest ; such interest to in- crease periodically until the rate of 3 per cent be reached, at which it is to continue until redeemed. There is a difference in the periods of increase and the term at which the rate of 3 per cent interest is to be reached. By the first plan it is proposed to do this in seventeen years, by the second in nine- teen, and by the third in thirty-three years. One of the proposals is for the conversion of the nominal amount of the Coupons into Stock of the same description as that proposed for the conversion of the Active debt, and, to consider the remaining half as Passive debt, eligible for con- version into Active at the rate of three capitals for one at periods of two, six, ten years respectively. The other two proposals only embrace the conversion of one half of the Coupons into the new Stock without offering any compensation for the loss of the remaining half. It is proposed to create a sinking-fund, the amount of which is not stated, for the absorption of the Passive Stock and other home debts not bearing interest. Spanish Active Stock fell about per cent when these propositions became known; but the market has since recovered.

The fluctuations of the Share Market have been principally governed by those of the English Funds. At the-commencement of the week prices were generally firm, but gave way when the English Funds declined. A decided and general improvement occurred yesterday afternoon, when the Camel Market became firm. Today, however, when the English Funds are again heavy, the upward tendency of the Railway Market appears to have been checked. The transactions in the French Shares have been limited, and the tendency of the market downwards. A demand has, however, arisen, at im- proved prices, for the shares of the Central of France Railway, (Orleans and Vierson,) in consequence of the continued success of the company and the weekly increase of its traffic-returns.

SATITRDAY TWELVX O'CLOCK.

. The French Funds closed yesterday in Paris at a decline of 35 centimes upon the prices of the previous day. From Vienna we learn that thepre- mama upon bullion is 50 per cent, and the exchange upon London 15. These indications are unfavourable, but we are without any change in the price of Consols; which opened at 961 1, the closing price of yesterday, and have -continued firm at that quotation. The Foreign Funds are all nominally at -yesterday's quotations. The Railway Market is farm, the following being the principal transactions—Bristol and Exeter, 701; East Anglian, 31; Great Northern, 15; Great Western, 721 ; Lancashire and Yorkshire, 491 ; Black- wall, 7k; North British, 71 ; Oxford, Worcester, and Wolverhampton, 18; South-eastern, 201 f ; South Wales, 22f.

SATURDAY Two o'Ctocx.

The English Stock Market closes rather more firmly ; Consols improved -early in the morning to 96 f 1, and have continued till the close of business at that price. The Foreign Bonds are without material change : the fol- lowing being the principal transactions recorded—Mexican, 32; Peruvian, 78 f 9 78f ; Portuguese Four per Cents, 33; Russian Four-and-a-half per Cents, 94 f f ; Spanish Active, 18; Ditto Three per Cents, 39; Dutch Two- and-a-half, 55f 4f ; Ditto Four per Cents, 851.

The Railway Share Market is not quite so firm. The business transacted _has been of a very general character, as will be seen by the following list of bargains occurring—Ambergate, Notts, and Boston, 21; Bristol and Exeter, 70f 70; Caledonian, 10 ; Chester and Holyhead, 161 16 f ; Ditto Pre- lerence, 121 ; Eastern Counties, 61 / 1; Ditto New Preference 6 per Cent, 11; Ditto Northern and Eastern, 56; East Lancashire, 9f ; Edinburgh and Glasgow, 25; Great Northern, 15 141; Great Southern and Western, (Ire- land,) 37f 8; Great Western, 721 1 1f ; Hull and Selby, 99; Lancashire and Yorkshire, 491 ; Ditto Fifths, 21 f ; London and Blackwall, 7k 7; Lcindori' and North-western, 1191 19; Ditto New Quarter-shares, 191 Ditto 10/. Shares, M. and B. C., 31 ; Midland, • 421 1; North British, 71 1 71 ; North Staffordshire, 81 1; Oxford, Worcester, and Wolverhampton, 18 174 18/ ; Reading, Guildford, and Reigate, 18/ 18; Scottish Central, 12; Aiuth-eastern- and Dover, 201 1; York, Newcastle, and Berwick, 16/.171 1 ; Ditto G. N. E. Purchase or Preference, 51; York and North Midland, ; .Ditto—preference, 81 1 ; Boulogne and Amiens, 7f ; Central of France, .(Orleans and Vierzon,) 14f ; Northern of France, 14 13/ ; Orleans and Bordeaux, 21 ; Tours and Nantes, 31; London Joint Stock Bank, 181; London and Westminster, 271.

3 per Cent Consols 961;

Danish 3 per Cents 73 5 Ditto for At count

sei I

Dutch 21 per Cents 54 51 3 per Cent Reduced ...... 1 Ditto 4 per Cents 84451

si per Cents

971 Mexican 5 per Cents 1846 ... 31 2 Long Annuities 71 13-16 Peruvian 6 per Cents 78 79 Bank Stock

Portuguese 4 per Cents 1842. 33 4 Exchequer Bills 66 69 pm Portuguese 5 per Cents 1824. 83 5 India Stock

Russian 5 per Cents 106 108 Brazilian 5 per Cents 87 9 Spanish (Active) 5 per Cents. 171 181 Belgian 41 per Cents 87 8 Ditto 3 per Cents 1842 391 Qulian 6 per Cents 102 4 Venezuela 30 2 'Danish 5 per Cents 98 100