MONEY MARKET.
STOCK EXCHANGE. FEWAT AFTE RNOON.
The Englirh Stock Market evinces an upward tendency ; and the unim- portant business occurring in the holyday-week has been at prices a trifle higher than our last quotations. Some uneasiness was felt by the speculative portion of our capitalists at the approaching meeting of the French Chambers, and oc- casioned a momentary feebleness in the market: but this feeling has been com- pletely dissipated by the arrival of the Speech of the King of the French; which, although only delivered at two o'clock yesterday, appeared in second editions of the morning papers today. The pacific tenour of this address has given a slight impulse to prices here; and Consols for Account have been done at l001, the closing quotation being lood d. The Three-and-a-quarter per Cent. Stock has kept pace with the others, and is today at about the same- ' proportional price compared with Reduced Three per Cents as last week. The premium of Exchequer Bills, after beng at 66s., has fallen today to 63s. Bank Stock is in the ascendant, and has reached 210 for money. The business dr4 the Foreign Market has been of more than usual variety. Dutch Stock has been particularly in request ; especially the Two-and-a-half per Cents, which have reached the extraordinary price of 65: at which rate- the Stock will barely pay 3i per cent upon the capital invested, reference be- ing had to the loss upon the receipt of the Coupon occasioned by the exchange and the deduction made for the expenses of administration. This price of Two-and-a-half per Cents is the more remarkable as the Four per Cents are- between 2 and 3 per cent under par. The Peninsular Securities have enjoyed great vogue ; Portuguese Converted Stock having risen 2 per cent since last week, and Spanish Active in about the same proportion. The secret of the extraordinary advance in the former Stock is now apparent. It is stated that the Government have determined to give the Bondholders the option of con- verting the present Stock into a Four per Cent Stock. These Bonds now pay 2i per Cent per annum, will pay 3 per cent in July next, and thenceforward per cent more will be added to the annual dividend every fourth year until it reaches 6 per cent ; at which rate it is to continue until the whole sum paid in dividends shall be equal to what the holders would have been entitled to re- ceive if the dividend of 5 per cent bad been regularly paid from the period of the conversion, 1841 ; the dividend is then to be reduced to 5 per cent, and con- tinue at that rate in perpetuity. The new proposal is, to commence paying 4 per cent in July next, and to continue that rate in perpetuity ; the present holders to have the choice of accepting the new terms or continuing upon the present footing. Spanish Stock has risen in consequence of some very in- fluential and extensive purchases, made, it is said, in anticipation of a decree by the Spanish Government providing for the conversion into Three per Cent. Stock of the over-due Coupons of the Active Bonds, and the payment of a di- vidend upon the capital of the Bonds themselves, commencing in May next, at the rate of 1 per cent per annum, and increasing in a certain progres- sion at fixed periods. It is impossible to canvass either of these plans in the uncertain state of our information as to their details; but, judging from the effects produced upon the prices of the two Stocks, each of them bids fair to be, popular. The speculation occasioned by these circumstances has almost ab- sorbed the attention of capitalists ; and the transactions in the other Stocks- have not been important. The prices of the several varieties of South Ameri- can and Mexican Bonds have been well supported, and the tendency is up- wards. The business of the Railway Share Market has been of the usual character, most of the leading lines continuing in demand : but there is not any circum- stance requiring particular notice, and it would be impossible in our space to give the numerous proposed combinations by which the existing companies are- seeking to obviate or counteract opposition. We must therefore content out- selves with merely saying that Railway Stock is looking up. SATURDAY, TWELVE o'cioca.- The business transacted in the English Funds has been quite trifling, and prices are unchanged. In the Foreign Market, the Peninsular Securities are lower ; Portuguese- Converted Bonds having been done at 60i. A predominance of sellers has also depressed Spanish Bonds, the Active Stock having declined to 27i, and the Three per Cents to 38. No political cause can be cited for this depressionr which is, we think, solely occasioned by the approach of settling day, which compels some of the speculators to close their accounts. The transactions in Railway Shares have been few and unimportant, being at present confined to the following: Birmingham and Gloucester, 98 9; Great Southern and Western, 101; Holland Selby, 69i; Birmingham, 226k; Brighton, 511; Manchester and Leeds, 122; bek and North Midland and Selby, (Scrip,) 6; London and York, 5 41.
SATURDAY. Two O'CLOCK.
There is no change or business of importance in the English Funds. In the Foreign Market, Spanish Stock is depressed, and both varieties were at one period at a decline of 1 per cent upon yesterday's prices. A trifling rally has since occurred. Active Stock, after being at 27/, closes at 271. 1 ; while the Three per Cents, after touching 371, close at 38/ 1. Portuguese Bonds are also lower, and, after being several times done at 601, close at 60 to 61. The Railway business Las been more general than in the morning ; and, with the exception of the Shares of the Bristol and Exeter, which have fallen considerably, prices are generally well maintained. The particular Shares in . question suffer through the threatened line from the South Western Railway to Yeovil ; which, by rendering it unnecessary to make Bristol the highway to Exeter, will of course materially lessen the profits of the present line. The following bargains have occurred in addition to our morning's list. Birming- ham and Gloucester, 974 9; Bristol and Exeter, 68 6*; Ditto and Gloucester, 42 9 2; Caledonian, 4i ; Chester and Holyhead, 5i ; Great Western, 149 ; Ditto, Half-shares, 90; Hull and Selby, 68/ ; Birmingham, 226 71 ; Brighton, 52; South-western, 751 ; Croydon, In ; Manchester and Leeds, 122 3 11 1 ; Manchester and Birmingham, 53; Midland, 1141 ; South-eastern and Dover, 401; Yarmouth and Norwich, 271; Paris and Orleans, 44,1 ; Paris and Rouen, 414 1; Orleans and Bourdeaux, 8 7/ ; Paris and Strasburg, 2/ ; Or- leans and Vierzon, 12.
3 per Cent Consols
Ditto for Account
3 per Cent Reduced
31 per Cents Long Annuities Bank Stock Exchequer Bills prem.
India Stock for Account Brazilian 5 per Cents Belgian 41 per Cents..ex div
Chili= 6 per Cents.
shut Columbian ex Venezuela.., 144 1 1001 1 Danish 3 per Cents 89 90 1001 1 Dutch 24 per Cents 64* 5 103t 1 Ditto 5 per Cents 99 * I
12 1-16 Ditto 4 per Cents 97! di
210 11 Mexicali 5 per Ceuts ... 364 4 62 4 Ditto Deferred 164 4
2861 Portuguese New 5 p.Cts.1841 60 61 89 9 Russian Spec Centa...ex d 119 20 101 2 Spanish (Active) 5 per Cents 274 1
100 2 Ditto 3 per Cents 1942 a/ I
Previous page
