MONEY MARKET.

STOCR EXCHANGE. FRIDAY APTERNOON.

The general demand for every description of English Stock, occasioned by the continued purchases for Money, has caused an improvement of nearly 4 per cent in the price of most of the current varieties; and the quotations of today are from I to lj per cent above those of Monday. The only remarkable circum- stance has been the increase in the value of Reduced Three per Cent Stock as compared with Consols. From the more speculative nature of the latter Fund, its market value is generally greater in proportion than Reduced Three per Cents. The difference between these two descriptions of Stuck ought always to be per cent, one of them having invariably that amount more of current dividend due upon it than the other thus: from January to April, and from July to October, when the dividends upon Console have just been paid, there is au excess of three months' dividend due upon Reduced Three per Cents as compared with Consols ; while from April to July, and October to January, when the dividends upon Reduced have been paid, there is a similar excess of dividends due upon Consols as compared with Reduced ; so that for one-half the year the price of Reduced Three per Cents should be per cent above that of Consols, and for the other half per cent below. However, from the fact of all the speculative operations. being confined to Consols, this Stock generally bears a higher value than Reduced, the difference in price being generally only or g per cent, instead of 1; in other words, Consols are commonly or * per cent dearer than Reduced. So great, however, was the demand for the latter Stock yesterday, that this proportion was reversed, and at one period of the day Con- sols were per cent cheaper than Reduced : the jobbers and dealers finding it almost impossible to deliver all the Stock they had sold, were thus compelled to exchange the one Stock for the other at a disadvantage. The premium upon Exchequer Bills continues the same, viz. from 56s. to 57s. Money is still very abundant, and likely to continue so : the amount of bullion in the Bank has been considerably increased during the week ; and there seems every pro- bability of a continued augmentation, which must force the Directors to adopt some course for the increase of their circulation.

The first general meeting of the Shareholders of the Bank of Ceylon took place yesterday ; when the statement of the affairs of the bank were such as to allow of a dividend of 6 per cent being made out of the profits of the year just ended. The shareholders generally were much gratified at the ecouomy dis- played in the management; the whole expenses since the formation of the bank, including those consequent on the obtaining the charter, not having ex- ceeded 2,0001. This favourable result is mainly attributable to the fact of the Directors having, during all the preliminary business of the Company and until it was in full operation, declined to receive any remuneration ; an example which might be followed with advantage by many institutions of a similar character. The business of the Foreign Market has been more animated than usual. There

has been a considerable demand for the new Portuguese Converted Stock, occa- sioned by large purchases by the agents of Dutch mercantile houses. Under the operation of the demand thus created, the price of the Stock has risen from 2 to 3 per cent : both the other varieties of Portuguese Bonds have improved, though not in the same degree; the Five per Cents Regency having advanced about 2 per cent, and Three per Cents from 1 to per cent. The sudden acqui- escence of the great mass of the Bondholders in the arrangement proposed by the Government in the decree of November 1840, after a protracted opposition of nearly two years, is a remarkable circumstance ; as that opposition has not been softened by the slightest modification or alteration of any one item of the proposed arrangement, and all the advantage the dissentients appear to have reaped has been the postponement of the improvement in the value of the Bonds during the whole period of the dispute. Spanish Active Stock is in rather better demand, and may be quoted at an advance of from h to * per cent. There have not been any extensive operations, but the appearance of the market is on the whole firmer than it has been for some time. The improve- ment of the English Funds has led to an advance in the prices of the Northern European Bonds, but the transactions in them have been unimportant. Colom- bian is rather firmer ; Mexican without material variation. The intelligence of some misunderstanding between the Republics of Chili and Buenos Ayres has depressed the Stock of the former, which has fallen about 7 per cent, viz. to 82 ex div. The last packet from Rio Janeiro brought a convention arranging the liquidation of the debt due to Portugal by the Brazilian Government. This cir- cumstance is important to the holders of that description of Portuguese Bonds known as Five per Cents 1836, or Goldsmid's Loan ; which were issued to the ex- tent of 900,0001. upon the special security of that debt, and which will of course be liqui iated when the amount now apportioned by Brazil is received. It is understood that the Brazilian Government propose to exchange the present Bonds of Goldsmid's Loan for Braziiian Bonds, which arc to be reckoned at the value of 85 per cent : to this the holders of Goldsmid's Loan object; stating, very truly, that the present price of Brazilian Bonds being only 64, the Go- vernment cannot expect to issue more at 85. A meeting of the principal Bondholders was held on Tuesday, at which it was determined to represent to the Brazilian Minister the injustice of the proposed arrangement ; and there the matter must at present rest. In the mean time, a demand has sprung up for the Bonds of Goldsmid's Loan ; which were a few days ago done at 50, being an improvement of nearly 5 per cent upon recent .prices. There have not been any transactions of importance m the Railway Shares; which are, with few exceptions, nearly at our last quotations.

SATURDAY. TWELVE o'Cremc.

The English Funds are firm at yesterday's prices, with little doing. Exche- quer Bills are 56s. to 58s. premium All the Foreign Funds without any variation or business of importance.

The only transactions worthy of notice in the Railway Shares, have been in those of the Brighton line; which, from 364 have been done at 36, and are now quoted at 35i 36. The Loan Notes are marked 104. We have also had a bar- gain in Northern and Eastern, at 35f.

SATURDAY. FOUR &CLOCK..

There is scat cely any change in either the English or Foreign Funds. Por- t ignese Bands are not quite so firm, a sale of 10,0001. having flattened the market, it closes, however, nominally at the morning's prices. A transaction in Chilian Stock has occurred at 82. The following business has taken place in Shares since the morning: Mines—Real Del Monte (unregistered), 21; Santiago de Cubs, 35: Banks—London and Westminster, 2211: miscellaneous— Australian Agricultural, 27#; General Steam, 25i 25: Railways—Birming- baaa and Gloucester, 401; Eastern Counties, Si i 81, ditto New, 10* 11 10: Great Western, New, 60i ; Brighton, 35i ; Loan Notes, lOk ; South-western, 68; Northern and Eastern, 35.1; North Midland, 191 1; Paris and Rouen, 22; York and North Midland, New, 37.

3 per Cent. Consols 931 4

Columbian 6 pe. Ceate . 201 1/ Ditto for Account

931 4

Danish 3 per Coats

82 3 3 per Cent Reduced ...ex div. 231 Dutch 21 per Lents 521 1

34 per Cent Ditto ex div. 1021 1 New 34 per Cents 1011 4 Mexican 6 per Cents Gonad.. Portuguese Regency 5 perCts.

321 1

39 4

Bank Stock ex div. 165 G

Ditto New 5 per Cents 1841.

33 4

Exchequer Bills, 21d. .. prem. 56

Ditto 3 per Cents 231 1

Ditto, 2d

do. 56 Russian 5 per Cents 112 13

India Stock

251 Spanish (Active) 5 per Cents

Brazilian 5 per Cents

631 41 ex Coupons 161 1

Belgian 5 per Cents

1024 31 Ditto 3 per Cents 1842 211 1