MONEY MARKET.

STOCK EXCHANGE. FRIDAY AFTERNOON.

The Stock-market evinced great firmness at the beginning of the week, and on Wednesday the price of Consols for Money was as high as 891, while for Account the (potation reached 901, and there were for a short time buyers at that price. '1 be report of an augmentation of the Army by 10,000 men, which has prevailed for last day or two, and which it has been expected would on each succeeding evening have been made the subject of a Royal message, has since caused a depression, and Consols for Money have been today done at 89/, while for Account the price has not fallen below 89/. This decline in the value of Stock for Money as compared with that for the Account is evidence of the pressure of Stock upon the market, and the increased value of money. There have not been any large speculative operations during the week, and the busi- ness has been chiefly confined to Money transactions. The public were till the last few days purchasers, and stock was consequently scarce ; but during yesterday and today the sales have predominated. The premium upon Ex- chequer Bills has continued the same, viz. 293. to 31s. India Stock has been done at 241 and 2411 for the Account ; and Bank Stock was yesterday quoted at 170.

The only circumstance of importance connected with the meeting of the Bank Proprietary (with the exception of the resolution adopted as to the In- come-tax, which we notice below) was a confession by the Governor that no provision was made to replace the capital expended in the purchase of the Dead-weight Annuity, and that consequently upon the extinction of that source of revenue in 1867, the proprietors will lose an annual profit of nearly 600,000/. In the Foreign Market the advertisement of the dividend upon the Bra- zilian Bonds due on 1st April has caused a rise of 3 per cent in the value of the Stock, and the price has improved from 67 to 70. It will be remembered that this security received a great shock in October last, from a delay in ad- vertising the dividend, when the price fell from 70 to 49; and although the dividend was punctually paid, the Bonds have only now recovered the depression. The fluctuation in this stock in the last six months has been more than 40 per cent, as it has fallen from 70 to 49, and recovered again to the point from which the fall commenced. Mexican Bonds have also experienced a great fluctuation, and after rising to 424, have fallen to 401. There is no particular reason for this decline, except that many speculators have realized their large profits. The fluctuations of this stock during the last six months have been considerable, for after having fallen from 30 to 221, it has been as high as 424. Columbian improved with Mexican to 271, but has since fallen, and after being at 251, closes today at about 26. Peruvian Bonds have been 181, and are today 171 4 ; and Buenos Ayres, which were at 23, are today at 22. It will thus be seen that the Mexican and all the South American Securities, although higher than at the close of the last week, are from 1 to 3 per cent, lower than they have been during the last few.days. The Northern European Stocks have been more in demand. Dutch Two- and-a-half per Cents have at 521, but have declined with the English Funds, and are today 52 to 4. Belgian Five per Cents have been at 1031; and Danish at an advance ; but they are all heavier today. Portuguese Bonds have improved, and the Regency Five per Cents were in demand at 35 and 31; but as on Wednesday morning most of the brokers were sellers, the price has since fallen to 341, and may be quoted today at 341 5. The Converted Five per Cents have been at 291, and are today at 281; while the Three per Cents, which were at 201, have been 204. Spanish Active Stock had im- proved to 251, but immediately fell to 244, and after being this morning at 251, closes at 24/ 25. The agency for the conversion of the overdue Coupons has been confided to Messrs. REID, Invn(c, and Co. whose arrangement, for the issue of the New Stock will be completed by the 11th April- A meeting of the Bondholders is convened by their committee for Wednesday next, to adopt resolutions expressive of their acquiescence in the proposed arrange- ments.

The transactions in the Railway Shares have been of ordinary magnitude. There was an improvement in many of them when the English Funds rose, but during the last day or two the quotations have given away. There has not, however, been any thing in the business transacted to call for particular remark.

SATURDAY, TWELVE O'CLOCK.

The English Funds are firmer this morning, and prices generally may be quoted 4 higher than yesterday afternoon : we have no transactions of importance to notice. The New Three-and-a-half per Cents had advanced with the rest, but as one or two sellers have made their appearance, the price has fallen back to yesterday's quotation.

In the Foreign Market the prices may generally be quoted as yesterday, at which most of the current varieties are inquired for ; but we cannot notice any bargains of importance. The following transactions have occurred in the Railway Shares : Chelten- ham and Great Western, 18; Eastern Counties, 104; Croydon, 131; York and North Midland, 944; Ditto New, 32.

SATURDAY, FOUR 0.CLOCH.

The English Funds are heavier at the close. Consols for Money have been done at 891, and the last price is 891 4; while for Account the price has not been lower than 891, at which there were sellers at the close. The Foreign Funds are generally the same. Mexican are rather lower ; and after being at 41, close at 411 4. Colombian and the other South American are rather lower. Peruvian have been done at 18; but we have no quotation of either Buenos Ayres or Chili Bonds today. Spanish Active have been lower, and from sellers at 241 close at 241 25. The following transactions have occurred in Railway Shares in addition to our morning's record: Eastern Counties, 10; Great North of England, 88; Great Western, 911; Ditto, New Shares, 631; Blackwall, 114; South-western, 591 4.

3 per Cent. Consols

894 4 Columbian 6 per Cents 264 I

Ditto for Account

Mt I

Danish Spec Cents

814 24

Spec Cent Reduced

shut Duch 24 per Cents

524 4

34 per Cent Ditto shut Mexican 5 per Cents Consd . 414 4 New 34 per Cents 994 1 Portuguese Regency 5 perCts. 34* 4 Bask Stock 169 170 Ditto New 5 per Cents 1841.

281 24

Exchequer Bills 29 31pm. Ditto 3 per Cents 20* 4 India Stock

240 1

Russian 5 per Cents 113 114 Brazilian 5 per Ceuta 70 2 Spuuish (Active) 244 5 Belgian 5 per Cents 103 4

The Bank Proprietors at their meeting yesterday, adopted almost unanimously a m emorial to the Government praying for an equitable adjustment of the Income- tax to be collected from the holders of Terminable Annuities. This subject is of great importance to the Bank Proprietary, when it is considered that besides the annuity termed the Dead-weight of 585,470/., purchased of the Govern- ment in 1823 for between 13,000,000/. and 14,000,000/., this corporation is so large a holder of other terminable annuities that if the income be demanded upon the gross amount of their annual receipts from such investments, they will have to pay 20,000/. more than under an apportionment of the tax could be demanded of them. If the proposed income-tax be charged upon the an- nual receipt of 4,156,861/. to the holders of Terminable Annuities, it will amount at 2/. 183. 4d. per cent to 121,241/. 15s.; whereas if the present holders were possessed of the same capital in any other description of the Public Funds, the amount chargeable against them for the same tax would only be 58,202/.