MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The steadiness of the French Funds, and the reported return of M. Foula and some of his late colleagues to the French Ministry, have produced an improvement in our own market; Consols having risen during the week about per cent, and closing this afternoon at the highest price-97f I both for Money and Account. Money continues abundant, and the rate of dis- count from 11 to 2 per cent. Among the reports which this plenty has given rise to, we may notice one that the Directors of the Bank of England will shortly reduce their rate;of discount to 2 per cent ; and another, that a reduc- tion in the interest of Exchequer Bills is contemplated. We trust that the lat- ter report is unfounded. The reduction could only be to the extent of a far- thing per diem, or about 7s. 6d. per annum. The saving made would consequent- ly be very small; and in the event of any sudden change in the value of money, these securities would fall to a heavy discount, as in 1847. All available capital would then be invested in them to the exclusion of every other mode of em- ployment ; while mercantile bills would be offered in vain (as at the period re- ferred to) for discount at 10 and even a higher rate per cent, as long as money could be invested in Exchequer Bills at 7 or 8 per cent. Much of the pressure of 1847 would have been avoided had the rate of interest upon Exchequer Bills been higher.

In the Foreign Market, the business transacted has been of a general na- ture, without causing any large variation in prices. Grenada Deferred Stock maintains its prise ; in the absence of any sales on Dutch account, Spanish Active has improved. Inquiry has occurred today for the Bonds of the old Greek Loans of 1824 and 1825 ; and the price, which had for some time been about 4, has risen to 6f. We cannot find any cause for this improvement. The arrival of Mr. Falconnet, (who has for some time been acting in Mexico as the agent for the English holders of Mexican Stock,) by the West Indian packet the Trent, together with a remittance of 42,000 dol-

llirs on account of the Mexican dividends, has given an impulse to the Stock of the Republic. In addition to the sum remitted as above, it is stated that Mr. Falcon net is the bearer of securities to the extent of 800,000 dollars in bills given by Mexican merchants for the customs-dues. He is also provided with an assignment of 280,000 dollars upon that portion of the American in- demnity payable in May (and not already pledged to the Bondholders) as a resource in the event of the non-payment of any of the bills comprised in the amount of 800,000 dollars. Ample securities are thus iu hand for the payment of the dividend due in January last, and its immediate payment will de nd upon the discount of the bills in question. It is understood that an application for this purpose has been made to Messrs. Baring and Co.; whose reply will not be received till Monday next. In the mean time, the Stock, which had reached 33, has receded to 32, and is this afternoon 32f 5. It appears that the recent and almost total cessation of remittances on be- half of the Mexican Bondholders has not arisen from failure in the custom- house receipts, but from the circumstance of the merchants being allowed a credit of from three to five months to pay the import-duties. No remittances could of course be made until the maturity of the bills so received. It is to be regretted that the cause of the stoppage of remittances was not known at the time, as, if the Stockholders had been aware of the real facts, the large recen depreciation of 10 per cent—from 33 to 23—would probably not have oc- curred.

The -Nilway Share Market is very much firmer, and we have to notice an improvement of from 1/, to 2/. in the prices of most of the principal shares. The traffic-returns for the week ending on Saturday last were generally very favourable; the only exceptions being those of theNorth-western, Brighton,

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and South-eastern, in which a diminution occurred. The French Shares are all higher, though today the market is not quite to firm as yesterday. The transactions in this market are limited in consequence of the scarcity of shares.

SATURDAY TWELVE O'CLOCE.

The French Five per Cents rose about per cent yesterday in Paris, the closing price being 103.90. The English Stock Market opened briskly this morning, the first mice of Consols being 975 ; the quotation for Account has since reached 975, and the price is now 975 5for Money and 975 1 for Ac- count. All the Foreign Funds are nominally firmer, though as yet the busi- ness transacted in them has been unimportant. Grenada Deferred Stock continues in demand, the price being 7i 1; but we cannot hear of any trans- actions in the Greek Loans of 1824 and 1825. The Share Market is firm, as indicated by the following record of actual bargains--Eastern Countiee, 7/ ; Lancashire and Yorkshire, 655 5 ; North-western, 1191; Midland, 575 8; South-eastern, 201 ; Great Northern Five per Cent Scrip, 141.

SATURDAY Two o'CLomt.

The arrival of the overland mail with intelligence of the termination of our dispute with the Government of Ave gave a further impulse to the prise of Console, for which there were for a short time buyers at 971 for Ac- count. The market has, however, since given way, and closes at 975 both for Money and Account. The premium on Exchequer Bills has fallen about as. in consequence of the rumoured reductionof the interest of these securities. In the Foreign Market, Grenada Deferred Stock still continues in demand. The purchase of 80001. Peruvian Six per Cent Stock, and of a like amount of Deferred Three per Cent Bonds, on account of the Sinking-fund, has given an impulse to these securities. The following-are the principal bargains- Equador, 45; Grenada Deferred, 75 75 85 1; Mexican, 32132 324 ; Peru- vian, 961 96 97 ; Ditto Deferred, 481 48 ; Portuguese Four per Ceuta, 35 ; Sardinian, 89 89f ; Spanish Active, 245 24; Ditto Three per Cents, 415 ; Ditto Deferred Three per Cents 1854:185 5 ; Dutch Two-and-a-half per Cents, 595 ; Ditto Four per Cents, 911. The Share Market is not so firm. The following are the principal trans- actions—Aberdeen, 115 5 ; Bristol and Exeter, 86 ; Eastern Counties, 7; 1; East Lancashire, 15% 1 ex div. ; Great Northern, 185 5 ; Great South- ern and Western, (Ireland,) 3515 • Great Western, 86 5/ 65 Lancaster and Carlisle, 74; Lancashire and Yorkshire, 66 5% 5; London, Brighton, and South Coast, 941 ; London and North-western, 1195 1-84 195; London and South-western, 8f1 f ; Midland, 575 85 75 5 ; Norfolk, 245; South- eastern, 20/ 5 ; Yorlc, Newcastle, and Berwick, 175 5 ; York and North Midland, 215; Central of France, (Orleans and Vierson,) 205; Northern of France, 191 5; Paris and Rouen, 255 ex div.

Danish 3 per Cents 76 8 Dutch 21 per Cents 591

Ditto 4 per Cents 914 5 Mexican 5 per Cents 1846 32 4

Peruvian 6 per Cents 971 Portuguese 4 perCents 1842 32 3 Portuguese 5 per Cents 1,824 91 3 Russian 5 per Cents 113 15

Ditto 41per Cents 101 4

Spanish (Active) 5 per Cents 24 Ditto 3 per Cents 1842 41 i

Sardinian Bonds 89 5

India Stock

257 59 Brazilian 5 per Centi . „ .... 94 6

Belgian 41 per Cents

90 2 Chilian 6 per Cents

101 103 Danish 5 per Cents

103 5 3 per Cent Consols 97 Bank Stock Exchequer Bills 58 61 pm' oc 216 7 Dit.o for Account 97

3 per Cent Reduced

34 per Cents 99 Long Annuities 7 -16