MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
DURING the week the markets generally have been flat through political distrust and a heavy demand for money previously to the 4th; but on Thursday the Bank reduced the rate, and this has caused a favourable reaction. The depression in the mauufacturing districts is expected to be mitigated by this movement, but political anxieties are as great as ever.
The joint-Stock Bank and discount houses, which even under the 8 per cent. minimum gave only 5 and 54 per cent, for deposits, have to- day reduced their rates to 4 and 44 per cent., the allegation being that these prices are perfectly justified by the supplies offered to them, and the prospective condition of the market. This resolution has created an impression that the supplies are really greater than they are, and that a large portion of the dividend money to be paid next week will be placed on the Stock Exchange. The inquiry for money at the reduced minimum has been rather active. In Lombard-street a large business has been done to-day, at 54 to 6 per cent.
The market for Foreign Securities has been exceedingly dull and inanimate throughout the entire week, and though most descriptions of stock are nominally at the same quotations, the tendency is un- questionably flatter, and in some few cases a slight decline has taken place. Turkish Stocks have fallen 1 per cent., and Sardinian 4 per cent. Spanish are dull, with a decline of 4 per cent. in Passive. Certificates are * lower. There has been a general sympathy with Consols, at times looking very flat and at others equally as good; but no inquiry taking place on the part of the public, renders the present state of things exceedingly unsatisfactory, and the dealers are uni- versally complaining of the great absence of business. There is a plentiful supply of money at about 6 per cent. Consols have fluctuated during the week about 4 per cent., having been 911, closing this even- in 911 to 4, and for the May Account, 92 to 92*. ' way Shares have also undergone considerable fluctuations, but close this afternoon firmer: Caledonian, 95, 951; South Eastern, 8' 831; Sheffield, 451, 454; Great Northern. 110f, 1104; Berwick, 101 102; London and North Western, 954, 954; Great Western, n 7/1; Lancashire and Yorkshire, 111+, 111+ ; Midland, 12 125* ;
Illinois, 25, 244 ; Lombardy, 14, 14 dis.; East India Railway,
984, 994 ; East Bengal, 11, dis. • Ocean Marine, 34, 3+ pm. ; Uni- versal do., 4, 1 m. ; Mexica 214, 244; Brazil Five per Cents, 100; Do. Four-and-a- 854, 8 ; Buenos Ayres, 88 9 Dutch Two- and-a-Half per Cents, 634, f ; Granada, 154, 16; 1)o. deferred, 54, 6 ; Mexican, 244, 241 ; Peru, 9, 914 ; Portuguese, 46, 464 ; Russian, 101,102 174, Sardiman, ; panish, 49, 494; Do. deferred, 414, 413- • Passive, 171, 171 ; Certificate, 54, ; Turkish Six per Cents, 74, 7 Do. Four per Cents, 994, 1004 ; Venezuela Three per Cents, 19, Victor Emmanuel, 944 954.
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