MONEY MARKET.

STOCK EXCHANGE. FRIDAY AFTERNonE.

The only circumstance of importance connected with the Money-market dining the week has been a notification from the Government of a loan of 1,500,000 for Canada ; the biddings for the first portion of which-300,000L- were received at the Treasury this afternoon. The result will not be made public till tomorrow morning : it is however known that one tender has been made of 106i, and another of 1071; the latter will probably be the success.. ful offer, as, in order to secure 3/1 per cent interest for the money invested, the contract price should not exceed 107. We are indebted to the Times for the following accurate calculation, by which it will be seen, that, assuming 31 per cent as the rate of interest at which the capital invested is to be employed, the Debentures are worth 107 per cent.

Present value arm annuity of 41. for twenty years £56 16 8 Ditto Ditto 1001. to be received twenty years hence 50 5 2 Valise 1001. New Debenture £107 1 2

The fluctuation of Console and Reduced Three per Cents have been unim- portant. Reduced Three-and-a-half per Cents have been in demand, and have advanced to 101i. The premium upon Exchequer Bills, which had been steady at 51s. to 53s., fell yesterday to 50s., and is now 508. to 52s. There have been some considerable transactions in the Foreign Market, es- pecially in Spanish Stock, of which extensive purchases have occurred during the week, occasioned by the suppression of the revolt at Barcelona, and the knowledge that the sum required for the payment of the Dividend becoming due upon the Three per Cent Stock on the 31st instant was in the hands of the agents. These securities consequently improved from 23 to 24k; at which price the market closed on Wednesday afternoon. The advertisement notify- ing the actual payment of the Dividend appeared in the morning papers of yesterday, and a further improvement took place immediately ; the price during the day having been quoted at 247. The market gave way slightly to- day, having fallen to 241 ;" but rallied again to 248 i, and closes at 24k. The Active Five per Cent Stock has not been so much in demand; having only improved about 1 per cent, closing today at 19. Mexican Bonds have been in demand, and close this afternoon at the highest quotation. viz. 31i I. A pur- chase of 20,00/. Deferred Stock by an influential broker, has caused an im- provement of k per cent in that security ; which has been at 9k. The improve- meat in the Active Stock is chiefly owing to the difficulty of procuring Bonds for delivery; the speculators for the fall having created a scarcity of Stock. Columbian Bonds have experienced a slight improvement : there have, how- ever, been bat few transactions in them. Portuguese Stock is more in demand, without the occurrence of any extensive business : the New Five per Cents 1841 are the Stock principally sought after, though some transactions have occurred in the Five per Cents and Three per Cent Regency Bonds. From the large amount of the former Stock that has been converted, it is becoming scarce. There is not any material variation in the other descriptions of Foreign Stocks; which have remained nearly stationary, in consequence of the steadi- ness of the English Funds. In a portion of our last impression we gave the monthly return of the lia- bilities and assets of the Bank of England, thereby completing the series for the year. We give herewith the whole of the averages of the circulation and bullion, as a means for deducing the average amount of both, and of ascertain- ing the fluctuations they have experienced.

Average of the four

weeks ending Circulation. Bullion.

January 4th 18 12 £16,632.000 £4,779.000

February 1st 16.630,000 5,24.000 March 1st 16,769,000 5.687.000 March 29th 16,952,000 6,125,000 April 23d 17.235.000 6.590,000 May 21st 17.536.000 7.032.000 June 18th . . 17.795.000 7,320.000 July 16th 18.279.000 7,818,000 August 13th 18,952.000 8.496.000 September 10th 19.714,000 9,177,000 October 8th 20.004.000 9,633.000 November 5th 19.903,000 9,789,000 December 3d 19,562,000 9,984,000 235 963,000 97,667,000 Average of the year 18,151,000 7,512,486 Amottut by which the highest return exceeds the average 1,853,000 2,471,150 Amount by which- the lowest re- turn has fallen short of the average 1.521,000 2,733,846

It will be seen from the above table, that the extreme fluctuation in the cir- culation has been about 20 per cent ; it having increased nearly to that extent between the 4th January and 8th October ; since which period it has varied but slightly. The bullion will be seen to exhibit a continued increase, and to have been augmented in the course of the year by the enormous amount of 5,205,0001. The Committee of the Stock Exchange have published the whole of the correspondence that has taken place between themselves, the Committee of Spanish American Bondholders, and Messrs. LIZARD! and Co., upon the sub- ject of the excessive issue of Mexican Stock. The matter has been so fully discussed, that the publication in question does not offer any novelty that could interest our readers. It appears the Messrs. LIZARDI and Co., instead of issuing 4,623,968/. Active Stock, and a like amount of Deferred, have pre- ferred and declare their determination of eventually circulating 5,400,0004 of each variety ; being a total excess of 1,552,063/. of both descriptions, or about 766,000/. Active Stock, and a like amount of Deferred.

SATURDAY. TWELVE O CLOCFM

The English Three per Cent Stacks are if percent lower this morning, with- out any apparent cause, unless it is to be found in the creation of new Stock, Spanish Active and Three Cent Stock have been at 1 per cent below their closing prices of yesterday, but have rallied again, and re6established the previous quotations. So little has been doing in the Railway Shares, that the only quotation of business actually done is that of &bargain m Birmingham Quarter Shares, 491. The contract for the Canadian Loan has not been adjusted; none of the bid- dings coming up to the minimum price fixed by the Government. That price was 108; and as the highest offer was 1071, the parties who made that offer will have the right of taking the whole at the Government rate if so inclined, and it is understood that they either have done so or will do so.

&TUMMY. Fours o'CI.0eN.

The English Funds close at the morning's prices. The Canadian Loan has been taken by Mr. MAITHERT, the gentleman whose offer of 1071 gave hint the right of pre6mption, at the Government rate, viz. 108 ; at which price he has been declared the contractor. Some surprise was expressed at the high terms insisted on by the Government. The offer of the Bank of England is stated to have been 102, that of the London and Westminster Bank 104, while that of Messrs. ROTHSCHILD was 106/, and, as we have already stated, that of the successful competitor 1071. he Stock has, however, been sold at 1 pre- mium; and therefore the contractor was fully justified in his spirited offer. In the Foreign Market, Brazilian Bonds are firmer, and have been quoted at 70. Spanish Stock has improved 1 ; the Three per Cents closing at 241 /, and the Five per Cents at 19 a : the others are without variation. The transactions in Shares have been confined to the following: Banks— London and Westminster, 22 A: Railway Shares—Bristol and Exeter, 471 1; Brighton, 36; Birmingham, 100; Paris and Rouen, 251; South-Eastern and Dover, Scrip, 221.

occasioned by the Canadian Loan, and the probability of the Government

same as yesterday ; so are Exchequer Bills.

coming into the market again as a borrower for a portion of the whole of the

remaining 1,200,000/. The Reduced Three-and-a-half per Cents are the

There is not the slightest change of importance in the Foreign Funds : 3 per Cent Consols Ditto for Account

shut 931 I

Colombian 6 per Cents Danish 3 per Cents ......

214 1

82 3 3 per Cent Reduced 961 4 Dutch 24 per Cents

521 I

31 per Cent Ditto 101 * Mexican 5 per Cents Consd . 314 4 New 34 per Cents . abut Portuguese Regency 5 per Cts 384 9 Bank Stock 172 3 Ditto New 5 per Cents 1841. 324 3 Exchequer Bills 24d. ....prem 50 2 Ditto 3 per Cent s 23 4 Ditto 2d press 50 2 Russian 5 per Cents 112 113 India Stock shut Spanish (Actit e) 5 per Cents. 19 i 'huffier) 5 per Cents 694 70 Ditto 3 per Cents 1842 244 4 Belgian 5 per Ceuta 102 3