MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The operations of the week have not been more extensive than ordinary ; and although the settlement of the Consul account occurred yesterday, this occur- rence did not (as is usually the case) give rise to any fluctuation or transactions of importance. There was, however, a demand for money ; and the continua- tion, or premium paid by the speculators for carrying over Stock to the October account, was from to 3 per cent. Under these circumstances, the prices of all the current varieties of Stock were depressed in the course of yesterday : when the tlowest prices were reached, the decline was to the extent of* per cent. as compared with the closing prices of last week : there has been an improvement in prices today, and the quotations are h in advance of those of yesterday ; the market gave way for a moment, but recovered again immediately, and closes at the highest price. The premium on Exchequer Bills has advanced, in the ex- pectation that one of the first measures of the new Government will be an ex- tensive funding; and the premium upon these Securities, which had fallen to 12s., has since been as high as 17z, and closes at from 15s. to 17s. The Foreign Ex- changes have risen both on Tuesday afternoon and today ; and the improvement in the rates on Paris, Hamburg, and Holland, may be fairly quoted at per cent. The purpose of the large drafts on Paris for American account, to which we alluded in our last, has not transpired; but the impulse given to the exchanges by the operation has been fully supported, as will be seen by our notice of their improvement.

Some proceedings at the Mansionbouse on Wednesday, relative to the London Glass Company, afford us an opportunity of repeating our often-reite- rated caution -as to the danger incurred by heedlessly engaging in Joint Stock Companies. It is lamentable to see the readiness with which the public adopt any statement finishing with the promise of au ample dividend : thus in the present case, the prospectus stated that so great loss was incurred by the breakage of glass sent to London from the Tyne, that great profit would arise under that head alone by conducting the manufactory in London ; while it is well known that the reason of the inferiority of the London as compared with the Tyne glass, arises from the inability of the London manufactures suffi- ciently to prolong a certain part of the process, the annealing, on account of the extreme dearness of fuel in London as compared with Newcastle, and that the percentage of breakage is quite inconsiderable. In the Foreign Market, the business has been as limited as in the English Funds. There hag, however, been a trifling demand for theNon-Dividend Stocks; Columbian, Mexican, and Spanish Active, being quoted at slightly improved prices. Columbian have today been done at 204, Mexican at 264, and Spanish at 204. Chilian Bonds are also in request ; and after being at 71, are today at about 69 to 70. The Northern European Stocks are without material variation, as are the Portuguese Securities ; and we do not believe that a single bargain. has neenrred in any description. of Portuguese Stock since our last. The Great Western Railway Shares have been depressed as low as 12 pre- mium, it having become known that at the meeting held yesterday at Bristol a proposal for raising an additional 500,0001. would be brought forward. The price has, however, since improved, and is today 14 to 15. A dividend of per cent. has been declared upon the Shares for the half-year just ended. The other current varieties of Shares are nearly as in our last : there is evidently a much greater disposition to purchase these securities than has for some time existed.

We omitted in our first edition of last week to give our usual notice of the liabilities and assets of the Bank of England ; and though it appeared in our last edition, we now repeat it. This account appeared in due course, in the Gazette of the 20th instant. As compared with the last statement, there is an increase in the Circulation to the extent of 407,0001., in the Deposits to the amount of 210,0001., in the Securities to the amount of 737,000/., while the amount of Bullion has diminished by 64,0001. Nothing can be more strikingly illustrative of the injurious effects of the Corn-laws upon our commercial and monetary system, than the fact, that during. the last three years, when our • harvests have been below the average, the drain of bullion has commenced as soon as it has become evident that an importation of foreign corn would be re- quired to supply the deficiency of our own production. Thus, in 1839, the amount of bullion in the Bank in the month of July was 3,785,000/4 and it conti- nued to diminish till November, when it fell to 2,545,000!. In 1840, the highest return was in August, when the amount reached 4,560,000/.; and in the De- cember of that year it had fallen to 3,511,000/. The hiobest average of the present year was that of last month, viz. 5,170,000/. The drain has already begun, and it is impossible to say when it will end.

SATURDAY. TWI.LVE O'CLOCK.

Prices are firmer this morning, Consols for Money being quoted at 894 ; while there are buyers for Account at 894. All the other current varieties are at an advance of 4 upon the closing prices of yesterday. Bank Stock is 169, and India Stock 247; while the premium upon Exchequer Bills is Is. ,lower., being 14s. to 16s. In the Foreign Market, prices are the same as yesterday, without any transactions of importance. There is, however, some activity in the Railway Shares: Brighton being 44 discount ; Blackwell, 10 discount ; ditto New Shares 34 3 premium ; Great Western, 14A to 154 premium • and South Western 524 to 53i per Share. The others fully support yesterday's prices; and there seems a continuance of the demand for this description of security, to which we have before adverted.

3 per Cent. Consuls 891 4 Columbian 6 per Cents

203 1

Ditto for Account 90 } Danish 3 per Cents 79 i 3 per Ceut. Reduced 93 } Dutch 2} per Cents 511 2 3# per Cent. Ditto

993 i

Mexican 5 per Cents. Cons& 26 }

New as per Cents

981 Portm,ntese Regency 5 per Ms. 291 SOf Bank Stock 169 Ditto New 5 per Cents. 1841..

251 6

Exchequer Bills ..... ....... 15 t7pm. /Ditto 3 per Ceuta 171 18} India Stock 247 Russian 5 per Cents..... ... 115 16 Brazilian 5 per Cents 67 8 Spanish (Active)

203 1

Belgian 5 per Cents 102 3

SATURDAY, FOUR o'Cnotze.

The concurrence of several influential purchases has given great firmness to the market ; and in the course of the afternoon Consols for Account were at 90A, when a further impulse was given by the purchase of 40,000/. by a broker usually employed by the Scotch Banks. There were for a short time buyers at 90A ; but the closing price is 90 to A. The Money has been quite as firm as that for Account, and after being at 894, closes at 89i i ; thus marking an improvement of A per cent. upon the day's transactions, and; per cent. upon the closing prices of last night. The other English Funds have improved in the same proportion, and Exchequer Bills have advanced 3, closing at 15s. to 17s. premium. In the Foreign Market, Russian Five per Cent. Bonds have been done at 1154. The Columbian have improved to 204, and Mexican to 264. Chilian are, however, lower, being marked at 69. Spanish Active has also ad- vanced, closing at 204 a. The Railway Shares continue in demand ; Brighton being 44 44 discount ; Blackwell, 94 94 discount ; ditto New Three-and-a- Halfs, 4 premium ; the others at our last prices. A panic has occurred in the Tea-market, and Company's Congou has fallen 6d. a pound; a late arrival today confirming the intelligence recently received from China rid New York : the trade is consequently open, and shipments of teas are making for our own and other markets.