MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The large increase that has recently taken place in the reserve of notes and the stock of bullion in the Bank has enabled the Directors to make a reduction in their current rate of discount, which is now 6 per cent. This step was resolved upon at the usual weekly meeting, held yesterday; and though its immediate effect was to cause an improvement of # per cent in the prices of the Govern- ment Securities, the quotations then reached had been attained on the previous day, when the general conviction that the reduction would be effected forced the prices of Consols for Money to 861 and for Account to 861. The closing quotations both of Wednesday and Thursday were nearly the same. Today's transactions have not been important; but a preponderance of sellers was appa- rent, and the market has given way under it; Consols for Money, which had been 85k, closing at 851 #; while for the Account the price had been as high as 861, and the last quotation is 861 /, thus establishing an improvement of about 1 per cent since our last report. Money is less in demand, and the current rate of in- terest for loans upon the security of English Stock about 5 per cent. Exchequer Bills have for the whole week been above par; the highest quotation being that of today, which is 68. premium. The books of the January-dividend Stocks will close and reopen as under—

Shut. Open.

Three per Cent Consols....)

New Five per Cents.... • . Friday, 10th Dec. Tuesday, 18th Jan.

Three per Cents, 1726 Annuities, Jan 1800 Ditto 1880 India Stock. Thursday, 2d Dec.

South Sea Stock 777777

New Annuities, Three per Friday, 10th Dec.

Cents, 1751

The Foreign Market has been in a state of greater activity than usual; most of the better class of Dividend-paying Stocks being in advance of our last quota- tions. The general business has not been important. Yesterday and today the transactions in Mexican Stock have been numerous, and at improved quotations— as high as 181, an advance of about 2 per cent since last week. This improve- ment has occurred without the arrival of any favourable intelligence from Mexico, and is chiefly owing to a revival of speculation occasioned by the com- parative cheapness of money. Spanish and Portuguese Bonds are also at ad- vanced prices; the improvement in both varieties being about 1 per cent.

The Share Market has not been materially affected. The hopes of the specu- lators have been slightly elevated by the prospect of relief to this particular in- terest through the new Railway Act, and a general though unimportant advance in prices has taken place: but today the tendency is decidedly downwards.

The accounts of the Bank of England, for the week ending November 20, exhibit when compared with those of the preceding week the following results— BANKING DEPARTMENT. Increase. Decrease.

Rest £6,244

Public Deposits 509,770

Other Deposits 372,074

Seven-day and other Bills 9.755

Government Securities, including Dead-weight.. 312,887

Other Securities

£259,307 Notes unissued 758,995

Actual Circulation

,327,175

1881/X DEPARTMENT.

Notes issued 430,320

Bullion 515,986

This week. Last week.

Total Bullion in both Departments 10,532,943 10,016,9n Actual Circulation 18,969,575 19,297,750

SATURDAY. TWO O'CLOCK.

Some influential Money-sales occurred during the morning, and under their in- fluence prices have given way 1 per cent; Consols for Money being 851 1 and for Account 8611. Exchequer Bills have ranged from 8s. to Os. premium. In the Foreign Market, some considerable business took place in Mexican Stock; which, afterbeing at 181 for Money, closes lower; being last done at 17/, the nominal quo- tation being 171 18. The other transactions are Portuguese 1842, at 22/ 23 and 221; Spanish Three per Cents, 29; Dutch Two-and-a-half per Cents, 55; Ditto, Four per Cents, 841. The Railway Share Market is rather firmer; the following bargains indicating in many instances an advance upon previous quotations. Birmingham and Oxford Junction, 181; Bristol and Exeter, 66; Caledonian, 361 1; Chester and Holyhead, 211 2; Eastern Counties, 161 1; East Lancashire, 211; Ditto, Half-shares, 60; Ditto, Quarter-shares, 17/ 17; Ditto, New, 81 8; Ditto, Half-shares, 481; London, Brighton, and South Coast, 44; London and North-western, 1551 6/ London and South-western, 55; Midland, 1111; North Staffordshire, 7/ 1; South-eastern and Dover, 311; York and Newcastle, 33141; York and North Midland, 761; Ditto, East and West Biding Extension, 29;

01.

Friday, 14th Jan. Thursday 13th Jan.

Friday, 14th Jan.

SATURDAY, TWELVE O'CLOCK.

At the commencement of business Consols for Account were offered at 86/, and for Money were at 851. The market is now firmer; Consols for Money being 851 1, and for Account 86/ 1. Exchequer Bills are quoted at 6s. premium. The only change in the Foreign Market is in Mexican Stock, which, notwith • standing the negative character of the news from Mexico, is still in demand, and is nominally 18 1. The transactions in Railway Shares have been confined to the following: North British, Half-shares, 13; North Staffordshire, 71; Oxford, Wor- cester, and Wolverhampton, 20. Boulogne and Amiens, 151 1; Northern of-France, 121; Orleans 51; Sambre and Meuse, 7 8 711.

and Bordeaux, 3 per Cent Consols

658 4

Danish 3 per Cents 62 4 Ditto for Account

85i 2

Dutch 21 per Cents 54, 58 3 per Cent Reduced 848 4 Ditto 4 per Cents 848 35 per Cents 858 Mexican 5 per Cents 1896 174 18 Long Annuities 84 9-16 New Granada 18 19 Bank Stock 187 189 Portuguese N.4 perCents 1842 22 23 Exchequer Bills 3 6 prem. Portuguese Old 1824 ex div.. 74 6 India Stock

Russian 5 per Cents 106 8 Brazilian 5 per Cents 78 80 Spanish (Active) 5 per Cents 174 188 Belgian 44 per Cents 89 91 Ditto 3 per Cents 1842 288 Buenos Ayres

Venezuela

18 19

Chillan 6 per Cents 89 91