MONEY MARKET.
STOCK EXCHANGE, FRIDAY ASTERNOON.
The fluctuations during the week have been more important than usual: un- certainty as to the Government's mode of providing for the Irish expenditure kept the market in a feverish state, and the speculators on the rack. Consols de- clined on Monday and Tuesday, in consequence of some influential sales: the tendency till today has since been upwards, the quotation of this morning being b per cent above our last and b per cant above the lowest price since. A de- cided change has taken place this afternoon; a decline of b per cent having oc- curred in a very short time, occasioned by an extensive sale made for the Account by a broker who is supposed to act for influential and well-informed capitalists. The closing quotations are the lowest of the day: the market may con- sequently be considered heavy. The usual notice for calling in the Ex- chequer Bills which arrive at maturity in March has been issued; and some surprise was expressed that bills of the new issue are to bear the same rate as those now in circulation—it was expected that the interest would have been in- creased. Upon. the first promulgation of the notice, Exchequer Bills fell from about 5s. premium to (in the case of one bargain) Is. discount. As, however, the Government broker offered to purchase for the Sinking-fund at par the tendency to decline has been checked, and the price has since remained at from Is. to 4t. premium.
The transactions in Foreign Bonds have been very unimportant. With the upward movement of the English Funds they showed a tendency to advance; but the prices this afternoon (except of Spanish Stock, which are rather firmer,) may be quoted lower. The Portuguese Bonds have not supported the quotations reached on the first intelligence of the repeal of the new decline tax: the transac- tions have been trifling, but the quotations today mark a decline of between 1 and 2 per cent. A much better tone prevails in the Railway Share Market. The public ap- pear to have availed themselves of the recent decline in prices to purchase for investment, and consequently there are few Shares pressing upon the market. Most of the more important varieties are at an advance of from 11. to 31.; while the prices of the lesser sorts are all either well supported or have improved. After a long inaction, some movement has occurred in the French Shares, and a general advance of from 5.s. to 10s. per Share has taken place. With the decline of the English Funds a alight reaction may be remarked, but the tone of the market is better than it had been for some time.
SATURDAY. TWELVE o'Ctoci.
The English Stock Market is lower this morning, in the absence of any trans- actions of moment; the quotations being fully h worse than at the close of business yesterday. It is currently reported that the Ministerial plan includes a loan of five millions and a funding of Exchequer Bills to a like extent; hence the present flatness. No change or business of importance has occurred in the Foreign Funds. The Railway Shares are not quite so firm as yesterday; we can as yet only notice the occurrence of the following bargains, which are indicative of a slight decline when compared with the last quoted prices: Birmingham and Gloucester, 123; Birmingham and Oxford Junction, 146; Bristol and Exeter, New, 12*; Eastern Counties, 21} b ; • Direct Northern, Registered, 3*; Great Southern and Western of Ireland, 26; Great Western, 123; London and North- western, 184 5; Ditto, New Quarter-shares, 14b; South-western, Consolidated Tenths, 531; Manchester and Southampton, lb; Midland, 122; Northern and Eastern, 59; Preston and Wyre, 34; Ditto, Half-shares, A, 104; Ditto, ditto, B, lb; Royston and Hitchen, 2b; West Riding Union, lb; Windsor, Staines, and South- western, a.
SATURDAY, Two O'CLOCK.
The English Funds close lower. One broker has sold nearly 400,000 Consols for Account since the morning, and under the effect of this operation the price fell to 90k; but it rallied slightly before the close of business, and was last quoted at 90b b. Expectation has been on tiptoe for the communication of the Ministerial intentions as to the loan or funding, which is usually made to the Stock Exchange through the Chief Cashier of the Bank of England. It is currently reported that the formal notice had been received from the Treasury, at the Bank; but as the day has passed without any announcement of the kind, there can be no doubt that the report is erroneous. It is expected that the funding and loan will take place in Consols at the rate of about 1111. stock for 1001. money or Exchequer Bills. The two last occasions on which an operation of this nature was effected were on the 20th August 1889, and the 25th September 1841. On the former occasion, 4,000,000 of Exchequer Bills was funded, of which 500,0001. was sub- scribed by the Bank of England at the Government minimum of 109/. 5s. 241. Con- sole for every 1001. Exchequer Bills. It was found, however, impossible to com- plete the transaction on those terms, and after considerable delay, the balance, 8,500,0001., was taken by the public at 110. The fending of September 1841 was to the extent of 5,000,0001., at the rate of 1121. 2s. Three percent Consols for every 1001. Exchequer Bills. The total addition to the National Debt from the two operations above alluded to was as follows—
Three per Cent Consols.
1839, 20th August £4,396,291 13 1841, 25th September 5,605,000 0 £10,001,191 .13
or in round numbers ten millions. There is no change of importance in the prices of the Foreign Funds or Railway Shares. The prices of the latter have been upon the whole well supported, and the bargains occurring have been more extensive than are usually noticed upon a Saturday. The transactions in the French Shares have been quite unimportant. We have to notice a bargain in the Shares of the Mocaubas and Cocaes Brazilian Mining Company, upon which 261., in- cluding the recent call of 11. per Share have been paid, and which have been today sold at 41. The following are the principal bargains since the morning. Ambergate, Notts, and Boston, 24 4; Birmingham and Gloucester, 128; Bristol and Exeter, 77; Ditto, New, 124; Caledonian, 264; Eastern Counties, 24 .4 1; Ditto, York Extension, 44 4; Edinburgh and Glasgow, 75 6; Great Southern and Western, (Ireland,) 26 54; Great Western, 123; Ditto, Half-shares, 72; :Ditto, Quarter-shares, 194 4; Hull and Selby, 102 8; London and North- western, 184 5 6 44 54; Ditto, Quarters, 22; London and Brighton, 554; Lon- don and South-western, 66 74; Midland, 1224; Ditto, New, 334; South- eastern and Dover, 374; Ditto, New, No. 4, 44; York and North Midland, 86i 6 7; Boulogne and Amiens, 144; Dutch-Rhenish, 44; East Indian, 4; Luxem- bourg, 24; -Namur and Liege, 21; Orleans and Bordeaux, n 4.
3 per Cent Consols 905 5 Danish 3 per Cents 88 90 Ditto for Account 905 5 Dutch 24 per Cents
585 5
3 per Cent Reduced 914 4 Ditto 4 per Cents.
934 5
34 per Cents 924 4 Mexican 5 per Cents 1846. • • 22 4 Long Annuities 9 9-16 11-16 New Grenada 19 20 Bank Stock 2034 44 Portuguese New 5p. Cts. 1841 34 9 Exchequer Bills prem. 1 5 Peruvian • 38 40 India Stock 250 2 Russian 5 per Cents III 113 Brazilian 5 per Cents 87 89 Spanish (Active) 5 per Cents 25 4 Belgian 44 per Cents 93 5 Ditto 3 per Cents 1842 3511 1 Buenos Ayres 6 per Cent.... 40 2 Venezuela 38 40 Chlllan 6 per Cents 93 5
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