THE MONEY MARKET.

STOCK EXCHANGE, FRIDAY EVENING.—There have been considerable fluctuations in the value of Stock since our last report ; Consols, which on Saturday last were worth 861, having been sold to-day for money at 85i. There was, however, a slight reaction towards the close, when the price advanced to 85i for money, and 86 for the ace ount.

The settlement of the October account took place on Wednesday, and was accomplished with considerable difficulty. It proved to be what is termed a Bull account, and there were so many parties who had bought more stock than they were able to pay for, that the demand for money in loan on Stock was greater than at any period during the last twelve months : and even 5-16ths per cent, was paid for carrying over purchases until the November account ; which is double, or even treble what had been the rate for a long period. The true explanation of this state of affairs is, that the quantity of Stock brought to market lately for sale has prepon- derated considerably over the quantity purchased by the public. Towards the close of last week great efforts were made to advance prices, but the pressure of money Stock could not be resisted; and notwithstanding the additional supply of money afforded by the payment of the dividends this week, and the absence of news, prices have declined, and the market is still heavy.

The question now to be considered is, whether an unfavourable opi- nion of the Funds is becoming general with the public ; and to a certain extent this is not unlikely ; but we have as yet had no exact criteria, as the two large sales of Stock this week were effected on grounds which seemed to have nothing to do with this question, and the money they produced will, in all probability, find its way back to the market through other channels. Another week, however, will probably enable us to form a better judgment on this head.

The decline of Consols since the beginning of last month amounts to nearly 3 per cent., while that on the heavy Stocks is only from 1 to per cent. The value of the floating securities also has been but little affected by the fall in Consols ; and their price is usually considered, and is, in fact, a true index for discovering the abundance or scarcity of money. Exchequer Bills bearing an interest of only 2d. per cent. per day are still at a premium of 76 per cent., and yet we had to-day the anomaly of 4 and 5 per cent. interest paid for the loan of money on Con- sols for short periods.

The reaction which occurred this afternoon in Consols was attributed to the state of the Corn-market to-day, in which wheat has fallen about from 48. to 6s. since Monday last; but the probability is, that all the corn likely to be had from abroad is already purchased, and a large part already on its way to this country. If this be the case, the apprehended effect of corn importations on the Exchanges is not likely to be diminished by a trifling fall in the price of corn here at home.

On the other hand, gold is dearer to-day, and in considerable demand ; and the price of bullion has advanced. to 3/. lie. 1014. per ounce, the standard price, and the point at which sovereigns will begin to be used for every purpose of manufacture or export.

In the Foreign market there have not been many transactions. Russian Stock is about 1 per cent, lower since last week, but its price is still the wonder of every body ; and truly with reason, when it is considered as the debt of a poor country, embarrassed in its finances, and engaged in a dis- tant, enormously expensive, and unsuccessful war.

All the South American securities, as they are somewhat facetiously termed, are lower. Colombian and Peruvian Bonds worse than ever ; but why Peruvian 6 per cents. should be of less value than Greek 5 per ccnts, it is not easy to say.

Portuguese remains at 56, but no word of the dividend.

B ITISII FUNDS.

Bank Stock, 2076 to 2081 3 per Cent. Reduced, 85 to 3 per Cent. Consols, 851 to

Ditto, for Acct. 27th Nov. 85i to 86 3t per Cent. Reduced, 931 to t

4 per Cents. 1822, 1014 to t 4 per Cents. 1826, 10212 to I Long Annuities, 19 to 19 1-16 India Stock, 2364 to 237t India Bonds, 83 to 85 Exchequer Bills, 75 to 76 premium

poastox FUNDS. Brazilian 5 per Cents. 62 to 62t Buenos Ayres 6 per Cents. 47 to 48 Colombian, 1824, 18. to 19 Danish 3 per Conte. 614 to 61 Mexican 6 per Cents. 33 Ditto 5 per Cents. 28 to t Peruvian 6 per Cents. 17 to 18 Portuguese 5 per Cents . 56

Russian,92 to Spanish, .114 to

Chilton, 27 to 29

French 5 per Cents. 1054 to t Ditto 3 per Cents. 731 to I Greek 5 per Cents. IS to

S 11Aal.:S. •

Anglo-Mexican, 25 to 27 Bolanos, 499 to 500

Brazil, 77 to 79 Colombian, 18 to 19 Real del Monte, 240 to 260

United lifexieen4 la to lei

SATURDAY MORNING, HALF-PAST TER.—This is a holiday at the Bank, but the Stock Exchange is open as usual. Consols for account 86 to but very little business doing.

HALF-PAST ONE.—There has been very little business in either market all the morning. Consols have been 86*, buyers for the account; at pre- sent the price is 85; to 86.

Fount o'Clock.—Consols, 85; buyers.