MONEY MARKET.

STOCK EECFIANDE, FRIDAY AFTERNOON.

The Government Securities have experienced a rise of nearly per cent since our last report, the result of considerable purchases of every description of Stock. Contrary to all expectation, the Three-and-a-half per Cent Stocks have kept pace with the Consols and Reduced Three per Cents; the improve- ment in price being nearly the same in both. Consols for Money, which were yesterday 95* I, rose this morning immediately after the commencement of business, to 95S- in consequence of a purchase of 100,000 for Money by the broker to the Scotch banks. The settlement of the Consol Account occurred today, and an impulse was given to the market by the closing of the Accounts of several speculators who have been operating for the fall: among them was one to the extent of 500,000/. These large purchases carried the price of Con- sols for Money to 95*, and to 96 for the April Account. Reduced Three per Cents were quoted at 961, and New Three-and-a-Half per Cents at 1011, while Reduced Three-and-a-half per Cents have reached 1031. Prices gave way slightly before the close, and Consols were last quoted for Money at 951 1, and for Account at 951 /. Bank and India Stock have been both stationary; the former, which was quoted in our last at 177, being today

marked 1761 and 177*; and the latter, which was 268, being today 268 and 267/. It appears to be considered certain that the Three-and-a-half per Cent Stocks will be reduced in the course of the present year : the operation would be practicable even at the present price of Stock.

It is now believed that the Income-tax will produce 6,500,0001.; whence it is calculated, that the surplus revenue for the year ending the 5th April next will be about 2,000,000/. ; thus rendering about 500,000/. available for the pur- poses ofthe Sinking-fund in the quarter ending the 5th July, and the application of this sum to the reduction of Debt (will, in the absence of any political cause of depression) cause such an improvement in the prices of the Public Funds as to render the reduction of the Three-and-a-half per cent Stocks, upon very much more favourable terms than at present, a matter of easy accomplish- ment. It is reported that the Ministry have determined to defer the re- duction until the Three per cent Stock has reached 98. At that price, they would be enabled to convert every 100/. Three-and-a-half per Cent into 102/. 10s. Three per Cent ; the value of which would be, at 98, 100/. 9s., and the annual interest 3L Is. 6d. A saving of 8s. 6d. per cent would consequently be made in interest paid upon the whole amount of the Three-aud-a-half per Cent Stocks; which, in round numbers, would be 935,000/. annually. The Foreign Funds have generally experienced a considerable advance. Dutch Two-and-a-half per Cents have been 1A per cent above our last prices, having risen from 541 to 5g : the reported reduction of the Five per Cents has operated to produce this miprovement : from the same cause, the Five per Cents have fallen in nearly the same proportion, viz. from 1031 to 102a. The Two-and-a-half per Cents have given way slightly today, viz, to 55/ 1. Colombian Bonds have advanced 1 per cent, without the arrival of any intelli- gence or the occurrence of any transactions of importance. Mexican have been steady till this morning, when the msrket gave way slightly, in consequence of the nonarrival of any remittances for the Dividends by the West Indian packet : none could, however, have been expected, as the packet did not touch either at Vera Cruz or Tampico. The next Mexican mail becomes due on the 5th March ; and its arrival will be expected with some anxiety, as the payment of the April Dividend will depend upon the amount of remittance then received. Portuguese Converted Stock has fluctuated between 391 and 401, the intel- ligence noticed in our last, of the total suppression of the disturbance at Oporto, having been confirmed by the last arrival. The transactions in Spanish Stock have been very considerable. The rise in these Bonds both in Paris and Hol- land has given a great impetus to speculation : some large purchases have occurred on Dutch account, which, in conjunction with the operations of our own speculators, bave caused an improvement of 21 per cent in the Three per Cents, and 11 in the Five per Cents Active : the former were today done at 28, and the latter at 21*; both have, however, since given way, and close as follows--Three per Cents, 27i 1; Five per Cents Active, 2014. There has been a very general description of Share business transacted, most of the Railway Shares being in demand at improved quotations. Bank Shares appear to be sought after, especially those of the Australian establishments. The Old Shares of Australasian Bank have improved 2L, being done at 531. The Cobre, Santiago, and better class of Mining Shares are on the rise. The undermentioned are the periods fixed for closing the books of the following Stocks, the Dividends upon which will become due on 5th April next —

Shut. Open.

Bank Stock Thursday 2d March ...Thurifay 13th April. Three per Cent Reduced Wednesday 1st „ ...Wednesday 19th „ Three and a half per Cent ditto, Thursday Thursday 2d „ ...Thursday 20th „ Ditto 1819 Friday 3d „ ...Tuesday 18th

Long Annuities Wednesday 1st „ ...Monday 17th „

Annuities for Terms of Years Saturdy 4th „ ...Tuesday 18th „

Old Annuities Wednesday 1st „ ...Wednesday 12th ,.India Stock Thursday 24 ...Thursday 13th „

SATURDAY, TWELVE O'CLOCK.

The prices of the English Funds are the same as yesterday ; but little busi- ness has occurred this morning, the attention of the jobbers and brokers beina directed to the payment and receipt of the differences arising out of the Consol Account. The premium of Exchequer Bills has improved ls. and is 66s. to 688. In the Foreign Market, the transactions in Spanish Stock have been general, but not extensive. The price of the Three per Cents has alternated between sellers and buyers at 271, and that of the Five per Cents between sellers and buyers at 201, and they are now respectively 271 a and 201 : the other cur- rent varieties arc without material variation.

The business of the Share Market has been of a very general character, and some Railway Shares are at sit improvement. We have to notice the following transactions : Mines—Real del Monte, Unregistered, 4 ; Ditto. Loan Notes, 100. Railways—Bristol and Exeter, 57; Eastern Counties, 21 h; Great Western, 951; Ditto, New, 691; Ditto, Fifths, ra 1; Brighton, 351; Bir- mingham, 211 ; Ditto, Quarter Shares, 52/ ; Ditto, New, 361 7 ; South- western, 65; Midland Counties, 63. Banks—Australasian, New Shares, 291.

SATURDAY, FOUR O'CLOCK.

The English Funds close at the morning's quotations, and we cannot notice any remarkable transaction or fluctuation in the Foreign Market. The busi- ness of the Share Market has been as extensive as usual, and we have to notice bargains in the following varieties : Mines—Del Monte, Registered, 31; Rhymney Iron, 6 7. Railways—Birmingham and Gloucester, 44 5 ; Chelten- ham and Great Western, 301 ; Great Western, 951 95; ditto, New, 701; ditto, Fifths, 17i i; Brighton, 36 5,1 ; Blackwell, 5 ; Birmingham Quarter Shares, 531; Ditto, New, 37; South-western, 65}; Croydon, 101; Midland Counties, 631 ; Northern and Eastern Scrip, 101; Rotten and Havre, 2*; York and North Midland, 931, 94. Banks—London and Westminster, 23* 3; Union of Australia, 31i 6. It will be seen from these quotations, that there is an improvement in Birmingham New Shares, Great Western, and South

25 27

244

51 161 1021 1 301 1* 391 40 1151 161 201 ft 271 I

Western.

3 per cent consols Ditto fur Account 3 per Cent Reduced 34 per Cent Ditto New 31 per Cents Bank Stock Exchequer Bills prem India Stock Brazilian 5 per Cents Belgian 5 per Cents Chilian 6 per Cents Ms 1 931 I 96! 1034 I 102* I 177

66 8 267 8 761 74 1031 44 79 8

Chili= Deferred CentsColombian 6 per Cents, 1824 Danish 3 per Cents Dutch 24 per Cents

Ditto 5 per Cents

Mexican 5 per Cents Consil

Portuguese New 5 p. Cts.1841

Russian S per Cents Spanish (Active) 5 per Cents Ditto 3 per Cents 1842

58