MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The business of the English Funds has been quite unimportant, and the fluctuations scarcely deserve notice ; the variation during the whole week not having exceeded per cent. The exchanges have again declined, and the opinion that a considerable importation of foreign corn will occur during the autumn is becoming more prevalent. Money is very abundant; the rate of commercial discount for first-class bills varying from lir to 2 per cent. The premium of Exchequer Bills experienced a slight improvement : but has given way again, and is today the same as last week. The transactions of the Foreign Market have been of rather more interest than those of the English Funds. Mexican Bonds have receded 1 per cent from the highest recent quotation ; some of the speculative purchasers at the low prices having taken advantage of the improvement to realize. Colum- bian have remained steady at about 25. Peruvian Bonds are without any material variation. The recent rise in Brazilian Stock has not been supported ; the price having fallen from 75 to 72. This decline is partly attributed to a proposition having been made in the Chamber of De- puties at Rio Janeiro to suspend the payment of the dividends upon all the foreign debts (which does not, however, appear to have met with any en- couragement); but it is chiefly owing to the circumstance, that by the recent conversion of the Portuguese Bonds known in the market as Goldsmid's Portuguese ' into Brazilian Stock, a new issue of 732,000/. Brazilian Bonds has occurred ; the loan of 900,0004 which Goldsmid's Bonds represented, having been specially secured upon a debt of that amount due from the Brazils to Portugal. By a recent arrangement, the Brazilian Government has agreed to cancel the Portuguese Bonds by the issue of 732,0001. new Brazilian Bonds, while the Portuguese Government liquidate the balance by the issue of Terminable Annuities expiring in twelve years: and as the holders of the Bonds have accepted the terms proposed, the conversion of the Securities is now in progress. No bargain has yet occurred in the new Biazilian Bonds ; and some of the holders, not being able to sell them, have made speculative sales of other Brazilian Bonds, and thus depressed the market. The Portuguese An- nuities have been sold at six-and-a-half years' purchase. A demand has arisen for Portuguese Five-per-Cents; and, after being for some time stationary, the price has improved 1 per cent. The present purchases have been chiefly made by brokers who act for houses connected with Holland. Spanish Stock has been at an advance of 3 per cent upon our last prices ; the holders of the Bonds being generally possessed with a belief that a matrimonial alliance will be concluded between the young Queen and the Due D'Anate.LE, and that the contending factions will be kept down by the presence of a French army of occupation. The proceedings of ESCARTERO, however, have rather weakened their confidence in the immediate settlement, and the price has declined the whole extent of' the late rise. The business transacted has not been of any great importance, though two or three large bargains have occurred. The speculators for the rise con- sider that they have a great ally in the French Government, which being Interested in representing Spain as tranquil, will not allow any unfavourable intelligence that may be received by the telegraph to transpire, but will give currency to the good news only, leaving the bad to become public by the ordi- nary and comparatively tedious course of post.
There is no material change in any of the Share Markets; there appears to be a demand generally for this description of investment, but the buyers do not item inclined to submit to any material advance in prices. SAITIRDAY, TWET.VE O'CLOCK. .The English Funds are at yesterday's prices. The buainess of the Foreign Market has hitherto been confined to Mexican Bonds, to which the arrival of 129,000 dollars on account of the dividends by the Royal mail-steamer Teviot, has given a further upward impulse. The opening price was 33; but, as soon as the intelligence became known, the rush of purchasers forced the quotation up to 343. The market has since receded slightly, and the Bonds are now offered at 343. The other Foreign Stocks are without variation. The following are the only transactions as yet recorded in Railway Shares— Great Western, New, 673; Ditto, Fifths, 163 17; South-eastern and Dover,
263 3.
SATURDAY. Two O'CLOCK.
The English Funds close at a slight advance, and though Consols have not yet been quoted at 94, there are buyers at 933, both for Money and Account. The amount of dollars remitted for the Mexican dividend appears to be 170,000 and not 129,000, as was at first reported ; the improvement of the Bonds has consequently continued, and after being quoted at 35, the closing price is 343 35. Spanish Bonds have experienced a trifling improvement, the Three per Cents being 263 3, and the Five per Cents 193 3. The other Foreign Bonds are without variation. We have to notice the following transactions in Shares, in addition to the few given in the morning. Delmonte Mining, unregistered, 53. Railways— Birmingham and Derby, 453; Ditto, Eighth Shares, 23 3; Eastern Counties, Scrip, 103; Ditto Debentures, 101; Great Western, New, 673; Brighton,
333 3 ; Birmingham, 2173 217; Greenwich, 33; South-western, 653 3; Midland Counties, Quarter Shares, 173; Northern and Eastern, 343; North Midland, 723; South-eastern and Dover, 26; Ditto Scrip, 263 3. 3 per Cent. Consols 94 4 Chilian Deferred 37 9 Ditto for Account 931 4 Columbian 6 pe. Ceats 1824 Z41 51 3 per Cent Reduced 944 1 Danish 3 per Ceats 115 6 4 per Cent Ditto 1024 Dutch 4 per Cents 63 I New 31 per Cents 1011 4 Ditto Spec Cents 100 Bank Stock Mexican 5 per Cents Z.41 Exchequer Bills prem. 53 7 Portuguese New op Cts.1841 40 India Stock Russian 5 per Cents 115 116 Brazilian Spec Cents 71 73 Spanish (Active) 5 per Cents 26* Belgian 5 per Cents 1031 41 Ditto 3 per Cents 1842 191 + Chilian 6 per Cents 97 99 • The monthly average of the circulation of the United Kingdom for the four weeks ending 22d ultimo, exhibits, as compared with the last, an increase of 1,057,794/. in the gross circulation. The increase is entirely confined to the circulation of the Bank of England, tshich exhibits an increase of 1,398,000/.; the decrease, in the Scotch, Irish, Joint Stock, and Private Bank circulation in England, being 340,2061.; thus leaving a net increase of the sum already stated upon the gross circulation. The bullion in the Bank of England has during the same period decreased 1,000/. only ; the present amount in store being 11,872,000/. against 11,873,000/., on the 24th June. The return is remarkable as being the first indication of a decrease in the amount of bullion in the Bank for nearly two years.
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