MONEY MARKET.

STOCK EXCHANGE. FRIDAY AFTERNOON.

The prices of the Public Securities have experienced a decline : the Govern- ment-broker purchased during the usual business-days of the week only about

half the amount that be has recently been accustomed to do ; and as it has been officially stated that the purchases for some time to come will be upon are same limited scale, the market has given way 5 per cent, in consequence of the support which it has so long experienced from these purchases being thus diminished. Bank Stock has been greatly depressed; having fallen rather more than 4 per cent since this day week, and between 6 and 7 per cent since the plan for the renewal a the (.barter was made pul.lic. There does not seem to be any reason for this decline; for the COI pormion have adopted the proposed plan, which is generally considered by the public as conferring many advantages upon the Bank pioprietary. We can therefore only suppose that the recent improvement in this particular stork was occasioned by the expectation that value great and extraordinaly advantages would be conferred upon the proprietors at the renewal of the Charter, and that as this expectation has not been realized in its full extent, some of the disappointed have been induced to sell. Exchequer Bills hare fallen very materially ; the extreme quotations showing a decline in the premium of I3s. per cent, viz. from 79s. to 66s.; though there has been today an advance of 48. from the lowest price, some purchases having been made as high as 70s. The decline in these securities is referable to the prevalence of a report that it is the intention of Govenament to issue Exchequer Bills hearing interest at the reduced rate of lid. per diem. A large portion of the bills now in circulation will he called in on the 15th June, and it is stated that the new bills to be issued in exchange for them will bear an interest of lid. per diem only, instead of 15d. scat present. We can hardly In hese that the Govern- ment contemplate any further reduction in the very low rate of interest now paid upon these securities. At the present rate, 15d. per diem, the interest paid is 2/. 5s. 75d. per cent per annum ; at the !educed scale of lid. it would only he 1/. 18s. Oid. per cent. It has been usual to call in all bills of twelve months' date, and to give one month's notice. 1 he notice calling in the bills dated 15th June should therefore have been already issued ; but it has not Jet made its appearance. There is no alteration in the rate of commercial discount, and money is still abundant. The transactions of the Foreign Market have not been very extensive, but prices have generally shown a tendency to decline. Dutch Two-and-a-half per Cents and Five per Cents are lower than last week. Spanish Stock also has ex- perienced a downward fluctuation ; the Three per Cents having been today 15 per cent, and the Five per Cents Active 1 per cent below the highest recent quotation. The decline of the Three per Cents is easily accounted for by the depression these securities have undergone in Madrid, where the price has fallen more than 10 per cent. A fall of 4 per cent in the Three per Cents, and of 5 per cent in the Active Stock, was produced today in coesequence of an ex- tensive sale made by parties who are said to have received advice from Madrid of a further decline of 1 per cent below the lowest quotation yet received from Spain. Portuguese Bonds are almost the only exception to the general rule ; the quotations of these securities being well maintained. Some fluctuations have occurred in Mexican and the South American Securities; but neither they nor the business transacted have been extensive. The Railway Shares have generally been in demand; but in some instances they are rather flatter today ; the quotations at which business has actually occurred being from 1/. to V. lower in many cases than the previous range. The Paris and Orleans and Paris and Rouen lines still continue in favour, and are improving ; though no very large advance can be anticipated at the present high quotations of 381. 10s. for an original share of 20/., or nearly 90 per cent premium. Another new French line has made its appearance today— that from Lyons to Avignon, and is at from to ft premium. Recent advices received from Sydney still speak of the existence of pressure and commercial difficulty; and one circumstance is noted as marking the glut of sheep and stock in the market, viz, that the contract for the supply of fresh meat to the soldiers and convicts was taken at 11-16ths of a penny a pound. The barque Napoleon, from Swan River, arrived yesterday in St. Katherine's Docks. This ship is owned and freighted entirely by the colonists; being full of wool, oil, and whalebone, the produce of the colony. She left Fremantle ou the 15th January, and arrived at Falmouth on the 10th instant. This is the second year that the colonists have sent home a vessel belonging to the colony entirely freighted with its productions.

SATURDAY, TWELVE O'CLCCR.

The English Funds are 5 per cent lower this morning, without the occur- rence of any thing material; Consols both for Money and Account being 995 4. The Foreign Funds are unchanged. The transactions in Shares have been of a very general character, and there seems to be rather a better demand for some of the more important varieties than yesterday ; as will be seen by the following record of business actually oc- curring Bristol and Exeter, 82 1; Ditto and Gloucester, 484; Caledonian, 4i; Dublin and Cashel, 44; Edinburgh and Glasgow, 664; Great North of England, 975; Great Western, 119 185 194; Ditto, Half- Shares, 765; Black- well, 7* 7; Brighton, 455; Greenwich, 64 64 65; Manchester and Leeds, 156; North British, 25 ; North Midland, 904; Norwich and Brandon, 94 i; South-eastern and Dover, New, 125 ; York and North Midland, 119; Paris and Orleans, 384; Strasbourg and Basle, 105.

SATURDAY. TWO O'CLOCK.

The English Funds close at an advance of ft per cent upon the morning's prices ; the business transacted has, however, been unimportant. Exchequer Ellis have also improved, and are quoted at 72 premium. Bank Stock is at a trifling advance, being quoted at 192 for Money, and 1925 for Account. The following transactions have occurred in Shares in addition to those given in the morning ; and it will be seen by a comparison of the quotations, that these Securities are generally in demand. Santiago de Cuba, (Mining,) 21: Railways—Dublin and, Cashel, 44; Great Western, 1205; Ditto, Half-shares, M; Ditto, Fifth-shares, 224; Barwich, (Braithwaitea,) 24; Ditto, (Locke's,) Lancaster and Carlisle, 74 i; Birmingham, 225 4 3; Ditto, Third-shares, an; Ditto, Quarter-shares, 2646 54; Greenwich, 65 4 7; Ditto, Preference, 184; South-ices tern, 875 8; Ditto, Eighth-sharee, ; North Midland, 894 90. 3 per Cent Consols

994 4 Colombian es Venezuela,., 144 i

Dino for Account

994 4

Danish 3 per Ceuta

88 9

3 per Cent Reduced

961 4 Dutch 24 per Cents 60 If

34 per Cent Ditto

1011 4

Ditto 5 per Cents

1004

New 34 per Cent.

1024 4

Mexican 5 per Ceuta

364

Bank Stock

192 3 Ditto Deferred

161 4

Exchequer Bills prem. 70 2 Portuguese New 5 p.Cts.1841.

461 74

India Stock

286 3

Russian 5 per Ceuta

117 19

Brazilian 5 per Cents ...... ... 801 14

Spanish (Active) 5 per Cents 24 4

Belgian 5 per Ceuta 103 4 Ditto 3 per Cents 1842

844 6

Chilian 6 per Cents 102 4 Venezuela Active

394 40/ The public have for some time been a eadily investing money and convertino Stock into Terminable and Life Annuli es; and as these operations, by substi- tuting a large temporary charge for a small perpetual one, are operating very materially to reduce the amount of the National Debt, we give from a Parliamentary document, as briefly as possible, the course and result of such proceedings during the year 1843.

The amount of the Unredeemed Capital of the National Debt on Great Britain and Ireland, on

5th January 1843, was, in round numbers 4 773,068,340

And on the 5th January 1844 772,169,092

Showing a reduction of 899,248

Which was almost entirely the result of the can- celment of Stock by the purchase of Life and Terminable Annuities during that period. The amount of Stock cancelled in exchange for Life Annuities was £817,640 In exchange for Annuities for Terms of Years 69,489 £887,129 12,119 The decrease in the Annual Charge during the same period was 92,826 Of which accrued from the balance of Life and Terminable Annuities expired 65.970 Dividends upon Stock cancelled 26,856

The amount of Terminable Annuities expired was 86,153

Of like Annuities granted in exchange for 69,4891.

Capital Stock 5,486 Slaking the total amount of Terminable Annui- ties extinguished 81,667 The amount of Life Annuities granted in ex- change for 817,640/. Capital Stock was 82,741 Of like Annuities expired 67,044 Excess of Life Annuities granted 15,697 Leaving the balance of Annuities expired 65,970

The annual charge incurred by the conversion of the above 887,129/. Stock into Annuities was—

Terminable Annuities 6,466 Life ditto 67,044 From which must be deducted the Dividends upon 72,530 the Stock cancelled, amounting to 27,459 Leaving 45,071 As the net annual increased charge occasioned by the conversion of the above amount of Stock into Terminable and Life Annuities.

A large amount of the annual charge of the Debt is made up of Terminable Annuities; for while the whole annual charge is 28,516,883 That upon the Unredeemed Capital is 24,439,328 For Life and Terminable Annuities 3,917,415 Management 160,140 Of the above 3,917,415/.

There are of Long Annuities which expire in 1860 1,293,891 Other analogous Annuities which expire about the same time 1,142,651 The annuity granted to the Bank of England and technically called the Dead-weight, which ex- pires in 1867 585,740 Life Annuites 842,055 Tontine and others, Irish and English 63,078 Leaving to be accounted for from other sources....