MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTBRNOON.

The Money Market has been in an unsettled state during nearly the whole week. The approach of the settling-day, in conjunction with the reported uncer- tainty of the stability of the French Ministry, caused the depression of last week ; and although the former cause was removed by time, the latter has been in ope- ration, and has caused some fluctuations, tending to keep down prices, which wouliotherwise have been forced up by the great plenty of money. Judging from the state of the French Funds, which were steady during the early part of the week, and on Thursday experienced a slight improvement, we should imagine that no real fears are entertained in Paris for the existence of the pre- sent French Ministry, as otherwise the Funds must have been affected, specu- lation in the Bourse being in Paris a necessary part of official existence. It would also appear that the alarm on that head is subsiding here; as among the operations today, we notice some extensive purchases by the same parties who sold at the end of last week, and who are known to be con- nected with French speculations. The general result of the week's busi- ness may be stated as having produced an improvement of about 1 per cent on the prices of the English Funds; which close at that advance upon the prices of last Saturday, and have again reached the highest quotation of last week. The operations may be briefly characterized ; almost all the large sales having been speculative, while some very. extensive money purchases have occurred, as, in addition to the continued investments of the Government- broker, 100,000 Console were purchased for money on account of the Court of Bankruptcy. Money still continues extremely plentiful; and we are informed that, in the course of yesterday, discounts were obtained upon first-rate com- mercial paper at 1 per cent per annum. The premium upon Exchequer Bills has advanced 5s.; and these securities have been current for the last two days at from 63s. to 65s.

The accounts received from the manufacturing-districts are of a very un- favourable character : the stimulus imparted by the conclusion of the Chinese war has completely subsided, the price of goods has again fallen, and at the mane time the demand for labour declines, while both manufacturers and operatives are as badly off as ever. The business of the Foreign Market has not been extensive. With the de- cline of the English Funds the Northern European Stocks gave way, but not to any considerable extent ; neither can we notice any large speculation or other transactions in them. Prices have, however, recovered again with the im- provement in Consols ; but no transactions of moment have occurred. Bra- zilian Bonds are steady, fluctuating within 1 per cent of our last prices. Co- lumbian also are steady; as are the rest of the South American Bonds. Mex- ican are without material variation. There has been a fair demand for Con- verted Portuguese Five per Cent Bonds ; but no material variation has occurred in the price, which has been steady between 351 and 361. Spanish Bonds, after improving, have been again depressed, from the existence of reports of a misunderstanding between the French and Spanish Governments ; but have rallied, and are now 1 per cent above the closing prices of last week. The Three per Cents have been as low as 231, bit have risen in consequence of some large purchases yesterday afternoon, and are now 231. The Five per Cents Active have been as low as 181, but are now 181.

The Railway Shares are generally in demand, but without any material -variation in prices ; which, however, are higher—as always occurs whenever the English Fends advance.

SATURDAY, TWELVE O'CLOCK.

The English Funds are better today, and have advanced 1 per cent upon the dosing prices of yesterday ; Consols for Money having been done at 941, at which price the Government-broker has just been purchasing. Exchequer Bills are the same.

In the Foreign Market prices are without material variation, there being but little business doing. The following transactions have occurred in Railway Shares : Birmingham and Gloucester, Thirds, 14; ditto and Gloucester, New, 12i; Great Western' 911 ; ditto, New, 661 ; ditto, Fifths, 171 ; Brighton, 37 61; ditto, Loan Notes, 10i; Birmingham, 210; ditto, New, 361; South-western, 631.

SATURDAY, FOUR O'CLOCK.

The arrival of intelligence from Paris, by which it appears that the Ministry has succeeded in so framing the address as to secure a majority in the Chamber, has given an impulse to the English Funds ; and the buoyant character of the market has been further increased by the purchase of upwards of 100,0001. Consols by the broker of the Scotch Banks at 94; and 95, which may be quoted as the closing quotations. The Three-and-a-half per Cent Stocks have not experienced any improvement. Bank Stock has been at 1721, and India Stock at 262 for Money and 2621h for Account. There is no material variation or business of importance in the Foreign Funds, which close at the morning's quotation. The following business has occurred in Railway Shares, in addition to those reported in the morning; by which it will be seen, that Great Western and Birmingham have advanced, the former 1/. and the latter 15s. per Share : Great Western, 92 lh ; ditto, New, 651 6h 651; Birmingham, 211; ditto, New, 361; Croydon, 91; North Midland, 641. Union Bank of Australia have also been done at 321 h ; Canada Company Shares at 32h; Mexican and South American Company at 41 1.

3 per Cent Consols 941 5 Colombian 6 per Cents 23 4 Ditto for Account

94 I 6

Danish 3 per Cents 85 6 3 per Cent Reduced

951 f

Dutch 21 per Cents 52 1 3t per Cent Ditto 1011 2 Mexican 5 per Cents Consd . 32 4 New 31 per Cents . 101 4 Portuguese Regency 5 per Cta

-

Bank Stock 172 4 Ditto New 5 per Cents 1891. 36 4 Exchequer Bills 21d. ....prem 63 5 Ditto 3 per Cent a

Ditto 2d prem 63 5 Russian 5 per Cents 114 115 India Stock 262 4 Spanish (Active) 5 per Cents. 181 1 Brazilian 5 per Cents 73 4 Ditto 3 per Cents 1842

231 i

Belgian 5 per Cents 102 3

The return of the circulation of the United Kingdom for the four weeks ending 7th instant, exhibits, as compared with that of 10th December last, a decline in the gross circulation of 1,213,8301. under the following heads— Bann OF ENGLAND £558,000 Private Banks (England) 143,060

Joint Stock, ditto 161,591

SCOTLAND—Chartered, Private, and Joint Stock

Banks IRELAND—Bank of Ireland 25,575

Private and Joint Stock Banks 5,214

30,789 £1,213,830

The amount of bullion in the Bank has increased 543,0001., the present return giving an average of 11,054,0001. against an amount of 10,511,0001. on 10th December. As compared with the return of January 8th 1842, there is an increase of 446,1601. in the gross circulation, the amount at the period being 33,603,0031., while that of the present return is 34,049,163/. The amount of bullion in the Bank of England has nearly doubled, the average of the present return being 11,054,0001. against 5,620,000/. last year.

£862,651 320,390