MONEY MARKET.

STOcK EXCHANGE, FRIDAY AFTERNOON.

The English Funds have fluctuated considerably during the week ; having fallen to nearly 1 per cent, and afterwards risen to the extent of the whole pre- vious decline. The upward reaction was not, however, supported, and the closing quotation of Consols this afternoon indicates a decline of h per cent upon the prices given in our last report; Consols for Money being 93h, and for Account, 93h h. The fall in the early part of the week and yesterday was occasioned by the preponderance of sales of small capitalists, which were too extensive to be counteracted by the large investments of bankers and others, who are driven by the low rate of interest to seek an employment for money by its investment in Government Securities. The reaction may be attributed to the receipt of intelli- gence from Amsterdam, that the Directors of the Bank of that city had reduced their rate of discount from 3 to 2h per cent. It was generally believed that the Di- rectors of the Bank of England would pursue a similar course ; but they have not done so. The usual notice for caning in the Exchequer Bills arriving at matu- rity in March has appeared. The new bills will bear an interest of ltd. per day, being ld. less than those at present in circulation. Notice was given on Monday, that Messrs. C. J. Hambro were ready to receive applications for subscriptions to a Danish Five per Cent loan, which the house in question had contracted for at the price of 86 per cent. The loan is in all only for 400,000L; of which half was taken by the Bank of Copenhagen. The Scrip was immediately done cur- rently at l and 2 premium, and has today reached 5 premium. The intelligence brought by the last West Indian mail had a favourable effect upon the price of Mexican Bonds, which have risen nearly 2 per cent, having today been as high as 2*. It would appear that the cession of the gold district in California to the United States is not absolute; it is supposed that a further sum of money will be paid to the Mexicans to induce a waiver of all claims to the territory ; and the Bondholders believe that the sum BO paid will eventually find its way into their pockets in the shape of dividends. The Dutch and Northern European Securi- ties are steady at nearly the quotations of last week. A large sale of Two-and-a- half per Cent Stock occurred on Tuesday; but the amount was readily taken by the dealers in the market, and the operation has not caused any decline in prices. Spanish Stock is rather lower. The South American Bonds are in rather better demand.

In the Share Market, the more important varieties are from 11. to 81. lower;

and the general aspect of the English Shares is not so firm as it was last week. Speculation seems for the present to be diverted to the French Shares; all of which are at higher prices. In connexion with the large purchases of this class of security recently made here may be noticed the decline of the rate of exchange upon Paris; bills at three days' sight having both today and on Tuesday been ne- gotiated as low as 25 15. These draughts are taken by the agents of French houses, to serve as remittances for the various kinds of Railway Shares sent here for sale in consequence of the rise in prices during the last fortnight. As yet, these importations (which have been large)seem to have been without effect upon our market; the prices of today being higher than any recently recorded.

SATURDAY, TWELVE O'CLOCK. The English Stock Market opened heavily, Consols both for Money and Account having been done at 93. More firmness is now apparent, and, without the occur- rence of any business of importance, the price has improved to 93 5 for Money and 935 4 for Account. There is no change of importance in the Foreign Stocks, most of which are at yesterday's quotations. A good demand is observable for French Railway Shares, which with scarcely any exception are at higher prices than yesterday. The transactions in English Shares are unimportant; the following are the principal bargains occurring: Cale- donian, 24; Great Western Fifths, 20; Brighton, Preference, 6; South-wet- em, 46; North Staffordshire, 125; Boulogne and Amiens, 10; Central of France, Orleans and Vierzon, 121; Northern of France, 101 4; Orleans and Bordeaux, 4; Paris and Strasburg, 34; Rouen and Havre, 134; Tours and Nantes, 25.

3 per Cent Consols

931 Danish 3 per Cents 65 8 Ditto for Account 931 1 Dutch 21 per Cents 50 1

3 per Cent Reduced

94 5

Ditto 4 per Cents

80 1 31 per Cents 941 Mexican 5 per Cents 1846... 261 1 Long Annuities 9 New Grenada 161 171 Bank Stock - Portuguese N.4 per Cents 1842 25 26 Exchequer Bills 36 45 pm. Portuguese Old 1824 76 78 India Stock

Russian 5 per Cents 108 110 Brazilian 5 per Cents 82 4 Spanish (Active) 5 per Cents 171 1 Belgian 41 per Cents 81 3 Ditto 3 per Cents 1842 291 1 Buenos Ayres

25 7

Venezuela 22 24 Chinon 6 per Cents 94 7

The accounts of the Bahk of England for the week ending the 17th February exhibit, when comp tred with those of the preceding week, the following results— BANNING DEPARTMENT. Decrease.

Increase.

Rest Public Deposits £1,625 751,488

Other Demits

£698,445 Seven-day and other Bills 6,338

Government Securities, including Dead-weight

Other Securities 132,452

Notes unissued 199,080

Actual Circulation

50,565

165125 DEPARTMENT.

Notes issued 148,515

Bullion 142,893

This week. Last week.

Total Bullion in both Departments 15,392,358 15,249,468 Actual Circulation 18,287,755 18,333,320

Notes issued

BANK OF ENGLAND. An Account, pursuant to the Act 7th and 8th Victoria, cap. 32, for the week ending on Saturday, the 17th day of February 1849 ISSUE DEPARTMENT.

£28,593,795 Government Debt .....

Other Securities Gold Coln and Bullion Silver Bullion . £11.615,1( 0 2,984.90 14,093,723 502,072 - S28,595,795 £28,503,795

BANKING DEPARTMENT.

Proprietors' Capital £14,553,000 Government Securities, (in- Rest 3,380,487 eluding Dead IV eightdimultyl£14,022 2o7 Publle Deposits. 3,303,3t7 Other Securities 9,916;261 Other Deposits 10,491,660 Notes 10.308,010 Seven Day and other Bills .... 1,114,470 Gold and Silver Coin 796,563 £35,044,134 £35,013,134 • Includb3g Exchequer, Savings Banks, Commissioners of National Debt &Dividend Accts.