MONEY MARKET.
STOCK EXCUANOZ. FRIDAY ATTERVOON.
The English Funds have continued to improve ; and the quotations of today, though not the highest of the week, are 5 per cent above our last. A decline of h per cent occurred yesterday, in consequence of some extensive sales; but the price recovered almost immediately, upon a purchase by the Government Broker on account of the Savings Banks. The books of the various Stocks the Dividends upon which become due today, will be open for private transfer tomorrow; and the Bank base given notice that the Stock-offices will be kept open till the usual hour, instead of closing, according to custom, at one o'clock on Saturday. The Stock Exchange will also be kept open till four o'clock, instead of dosing at two. The Dividends will be paid to the public on the 9th instant.
The advance in the English Funds has been during the last few weeks very extraordinary ; and there seems every reason to expect that in the absence of' any political commotion in Europe, and while the rate of discount continues as low as at present, the value of the Public Securities will rather increase than diminish. The rate of discount upon first-rate bills may be quoted from 14 to 2 per cent ; and in the course of next week, upon tee issue of the Dividends, money will be more abundant, and the present rate, low as it is, must expe- rience a further decrease. lf, therefore, the rate of interest is to continue for any length of time between 15 and 2 per cent, it is quite clear that 98 or even 100 and upwards, must be considered a comparatively low price for Stock hearing interest at the rate of 3 per cent. The Three-and-a-half per Cent Stocks have continued unchanged in price; their reduction in the course of the current year being considered certain. The only indication to the con- trary is the omission of the Government to give the requisite notice in the Gazette with respect to one variety of the Stocks liable to reduction—we mean the Three-and-a-half per Cents 1818, which amounts to 10,500,0001., and which cannot be paid off without six months' previous notice in the London Gazette. Unless such notice be given in a week or two, it will be almost im- possible to complete the reduction or liquidation of this Stock during the coming session of Parliament. There is no necessity for any similar notice in order to the pay ing-off of the other descriptions of Three-and-a-half per Cent Stock, amounting together to about 211,000,000/. Bank Stock has risen more than 1 per cent, in consequence of the large purchase made last week ; and is today 186 and 186h. In the Foreign Market, some very extensive business has occurred in Spanish Stock; which rose materially at the commencement of the week, but expe- rienced a sudden decline of 1 per cent upon the receipt of intelligence of the suspension of the sittings of the Cortes, and has since fallen still lower : after much fluctuation, the result of the week's business bas been to establish a closing quotation both of the Three per Cents and Five per Cents Active within a h per cent of our last prices. An improvement has occurred in Mex- ican Bonds, without having its origin in any other than businessof the ordinary character. The other European Dividend-paying Stocks are all at an advance, in consequence of the improvement of the English Funds. We cannot notice any transactions of importance in them. Portuguese Bonds are without mate- rial variation.
The business in Railway Shares has been of the usual varied and extensive character. At the commencement of the week, shares generally were in de- mand, and prices improved : during the last day or two, some extensive realiza- tions have occurred, and the prices of some of the more speculative lines have gone back. The speculation in the French lines has received a cheek; and, after advancing considerably upon last week's prices, the quotations of today are generally below them. This result is attributable to the sales of some ex- tensive speculators, who are closing their operations. With the New Year an alteration has been made in the mode of calculating the exchange upon Bel- gium. Till now, though the accounts of the country are kept in francs and cents, the exchange operations have always been conducted and the accounts thereof kept in guilders and stivers, as in Holland : but for the future, bills, will be drawn in francs and cents, as in France ; the rates upon Belgium ruling gene- rally 10 cents higher than those of similar dates upon Paris, the present ex- change of 25 francs 90 cents upon Antwerp being equal to an exchange at the old rate of 12 guilders and 44 stivers.
SATURDAY, TWELVE O'CLOCK.
Although this is the first private Transfer-day, the transactions have been quite unimportant. Consols for Money have been at 961, and are now 975 : the price for Account is the same.
In the Foreign Market an impulse has been given to Spanish Stock ; both varieties of which were at one time 4 per cent above the closing qnotation of yesterday : the price has, however, since receded i per cent. Mexican Boucle are in request, and quoted at 33. The other Foreign Stocks are without varia- tion.
The transactions in the Railway Shares have been confined to the following : Birmingham and Derby, 57 ; Bristol and Exeter, 105; Great Western, 965; Ditto, Half Shares, 695 ; Grand Junction, Quarter Shares, 585; Brighton, 435; Blackwell, 51; Birmingham, 238 7; North Midland, Half Shares, 445 5 444; Ditto, Third Shares, 295; Paris and Orleans, 334 4; South-eastern and Dover, 355; Ditto Scrip, 364; Scarborough, 175; Norwich and Brandon, 45.
SATURDAY. FOUR O'CLOCK.
There is no change of importance in the prices of the English Funds. From the little business occurring, the Stock Exchange might just as well have been closed at two o'clock as kept open for two hours longer. Bank Stock has im- proved to 187. A transaction in Canada Guaranteed Bonds has taken place at 1104 ex. div. The Foreign Bonds arc without material variation. The following further transactions have taken place in Shares: Del Rey Mining Company, 125; Edinburgh and Glasgow Railway, 575; Ditto, New, 144 4; Ditto, Registered, 144 4; Midland Counties, 884 9 85; Paris and Orleans, 335 h ; South-eastern and Dover, 365; Anglo-Mexican Mint, 13. 3 per Cent Consols 97 4 Chilton Deterred 44.46
Ditto for Account 97 it Colombian 6 per Cents,1824. 3 per Ceut Reduced 971 i ex Venezuela 111 I 31 per Cent Ditto. 1021 4 Danish 3 per Cents 85 7 New 34 per Cents 1014 1 Dutch 24 per Cents 344 1
Batik Stock 187 Ditto 5 per Cents ...... .... 991 1001 Exchequer Bills prem. 67 9 Mexican 5 per Cents gonad. 321 3 India Stock 272 Portuguese New 5 p. Cts.1341 431 4 Brazilian 5 per Cents 74 6 Russian 6 per Cents 115 116
Belgian 5 per Ceuta 103 4 Spanish (Active) 5 per Cents. 22 4; Chalon 6 per Cents 99 101 Ditto 3 per Cents 1.842 301 1
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