MONEY MARKET.

STOCK EECNANGE, FRTDAY AFTERNOON.

The gross fluctuation of the English Three per Cent Stock during the week has been per cent, and the actual improvement from to a per cent. The Three-and-a-half per Cent Stocks have not risen in a similar degree; for though they were at one period from to per cent above our last prices, they have given way again. In proportion as the Three per Cent Stocks improve, the chance of the reduction of the Three-and-a-half per Cent Stock increases ; and it is said that the Chancellor of the Exchequer has expressed himself confident that such reduction will be effected in the course of the next year. It is quite evi- dent, therefore, that the rise of Three-and-a-half per Cent Stock cannot keep pace with that of the Three per Cents. The rise in the Public Securities is mainly to be attributed to the favourable character of the intelligence brought by the overland mail from India. The purchases of Stock by the Bank-broker have been continued, and another formidable,operator of the same kind has within the last day or two made his appearance in the market in the person of the Broker for the Scotch Banks : the united operations of these two gentle- men, in addition to the general purchases of the public, have completely cleared off all the floating Stock ; Consols for Money and Account having beenduring the week as high as 92. Occasional depressions have occurred, the result of speculative sales made upon rumours of the defeat of the French Ministry, of the failure of Lord Asnauavon in his American nego-

tiation, and outbreaks in the manufacturing-districts. The buoyancy of the market has, however, till today always been sufficient to counter- act the depression thus occasioned; but the operators for the fall have pre- vailed today, and the closing price is fully 5 per cent below the highest price of the day. Some idea may be formed of the great plenty of money, from the fact that the rate of discount for first-rate commercial bills is only 2 per cent per annum. Capitalists are eager to employ their money upon such terms; while we are informed that a large sum was actually lent yesterday till the end of September, upon the deposit of Exchequer Bills, at a rate of interest but very little exceeding 1 per cent per annum. The premium upon Exchequer Bills has, however, within the last few days experienced a slight reduction ; that of 25d. bills having fallen to 51s., while those at 2d have been depressed to 49s. The Report of the Committee appointed to inquire into the claims of the holders of the Exchequer Bills issued in consequence of the fraud of Mr. RA, PALLO was laid upon the table of the House of Commons last night A copy has been forwarded to the Committee of the Stock Exchange, with a request that its contents should not be made public at present. It is, however, under- stood that the holders are divided into four classes; the first class consisting of the holders who are furthest removed from the fraudulent issuers, the second those who are not so distant, the third of others still nearer, and the fourth of those parties who appear to have received them directly from Mr. RAPALLO. The Report of the Committee does not contain any recommendation as to the settlement of the claims of the holders, which is left to the decision of the Go- vernment; and from what fell from the Chancellor of the Exchequer last night, it would appear that the course to be adopted is not yet determined on. The business in the Foreign Funds has not been extensive. A slight de- mand for Spanish Active Stock for Holland has continued, but has not in- creasel : the price of the Bonds was at one period 215, but has fallen today to 205. The Three per Cent Bonds have, however, given way nearly 1 per cent, and after being today at 195, close rather more firmly. The foreign purchases have been entirely confined to the Active Stock ; and as the conversion of the Overdue Coupons and consequent creation of Three per Cent Stock still con- tinues, the quantity thus thrown upon the market will account for the greater proportional depression of this latter Stock as compared with the Active Bonds. There has been but little business in any other Foreign Bonds, and our report will be complete when we notice a slight demand for Portuguese Converted Stock ; but this, like that of the Active Spanish, is almost entirely confined to small Bonds for the Dutch market.

The Railway Shares are generally the same, in the total absence of almost every description of business. The report of the Brighton Railway has been circulated among the shareholders, in anticipation of the half-yearly meeting held this day ; and as it is considered favourable, an improvement of nearly 1/. per Share has occurred in them.

SATURDAY, TWELYE O'CLOCK.

The English Funds are all about per cent above the closing prices of yesterday. Nothing of importance has occurred. The Foreign Funds are without material variation, with scarcely any business. The following trans- actions have occurred in Shares : Railways—Edinburgh and Glasgow, 475 s

Great Western, 90; South-western, 625; South-eastern, ; Ditto, New, 7/ : Banks—London Joint Stock, 13. SATURDAY, Foci o' CLOCK.

The triumph of the French Ministry in the election of M. SLUZET became known early in the afternoon, and the Funds rose i per cent. Consols for Account have been done at 91/, and close at 91i /. In the Foreign Market, Spanish Active and Three per Cents have both fallen materially, and were at one period i per cent below the opening quotations ; the Active Stock having been at 20, and the Three per Cents at 19,1 ; both are now rather higher, the former being 20/ I, and the latter 19/ fr. We have to notice the following Railway transactions during the afternoon—Great Western, 89/ ; Brighton, 34A ; Birmingham, 182; Paris and Rouen, 181. 3 per Cent. Consols 911 i Columbian 6 per Cents..... 201 11 Ditto for Account 911 i, Danish 3 per Cents ...... .. 82 3 3 per Cent Reduced 921 Dutch 21 per Cents 51 t 8

34 per Cent Ditto 1011 Mexican o per Cents Cousd . :51 1

New 31 per Cents 100 i Portuguese Regency5perCts. ::31 I Bauk Stock 1701 Ditto New 5 per Cents 1841 . 271 8 Exchequer Bills, 21a1. .. prem 51 53 Date 3 per Cents 1911,20 Ditto 24 do. 49 51 Russian 5 per Cents 114 115 India Stock 250 Spanish (Active) 5 per Cents 201 4 Brazilian 5 per Cents 64 5 Ditto 3 per Cents 1812 191 f

Belgian 5 per Cents 102 3

The Gazette of last night contains the monthly statement of the average circulation of the Bank of England, Private, and Joint Stock Banks in Eng- land and Wales, for the four weeks ending 23d July 1842. As compared with the last statement, the circulation of the Bank of England has in-

creased £2,365,000 Private and Joint Stock Banks 249,650 2,614,650

From this deduct—

Decrease on the Scotch circulation 180,108 on the Irish 88,197 268,305 Making the nett increase 2,346,345 The bullion in the Bank of England has inereasd 1,037,000/4 and ac- cording to this return, amounts now to 8,883,0001.; which is greater than at any period since February 1839; more than treble the average of last four months of that year, and about double the average for the whole of the year 1840 and that of the first four months of 1841. The most remarkable feature in these returns is the steady augmentation of the average amount of the bullion ; which began to increase in the November of last year, and since that period has risen from an amount of 4,218,000/. to the present one of 8,883,0001.

The Assessed Taxes Bill received the Royal asent last night ; and con- sequently the Income-tax will be deducted from all dividends paid upon Foreign Stocks from this day. Considerable inconvenience has been occasioned to the merchants and bankers by the sudden passing of this measure : it had been ex- pected in the City that the bill would not pass in its present state, in conse- quence of the representations of many respectable merchants ; and it was yesterday stated that both the Chancellor of the Exchequer and Sir ROBERT PEEL had promised to delay the bill. This explanation is suggested—that when- ever a commission is issued for giving the Royal assent to bills, it is imperative to present for that purpose all bills that have gone through the whole of their Parliamentary stages.