MONEY MARKET.
STOCK EXCHANGE, FRIDAY Arrrinumow.
The advices from the United States received on Monday were considered unfavourable; for though it was thought the Boundary question would doubt- less be amicably adjusted, the financial condition of the Union is very critical. It was currently reported on the first arrival of the letters that the State of Pennsylvania would not he able to meet the dividends which become due upon its public debt in April next : but this apprehension is unfounded, as, though the State is embarrassed, the Executive has succeeded in borrowing 600,010 dollars of the Banks to meet the claims for dividends and appropriations that will speedily become due. American Securities are, of course, very heavy, and the great majority of the State Stocks are unsaleable. The United States Bank Shares have experienced a further decline, and arc as low as 15/. The following notice was yesterday issued from the Bank of England-
" The Governor and Company of the Bunk of England do hereby give notice, that they are ready to recei,,e applioaticae: nu loans, upon the deposit of bills of exchange not Latin; more than six months to run, Exchequer Bills, and Rant India Bonds; such
loans to be repaid on or before the f April next, with interest at the rate of 5 per cent. per annum, and to be for stuns .1'1,01 less than 2.0001. each."
This notice differs from those of the same character issued in September and December last, in stating that loans will he made upon India Bonds and Ex- chequer Bills ; whereas on the two previous occasions the advances were limited to bills of exchange. The alteration of the rate of discount to 5 per cent. has enabled the directors to make this variation in the present notice ; as, while the discount was above 5 per cent., they could not without an in- fringement of the Usury-laws lend upon any other security than commercial bills, the partial repeal of those laws being specially limited in its operation to loans open bills of exchange. There has been little doing in the Stock Exchange till yesterday, when the settlement of the Consol Account took place. Money was very much in de- mand; and RH high as 12 per cent. was given for loans upon English Stock for a few days-10 per cent. being given in one instance upon a loan of money upon Exchequer Bills for one day. The pressure upon the Exchequer market has been relieved to-day by the Bank loans ; and these Securities, which were yesterday at Is. discount, arc to-day 3s. to 5s. premium. The pressure upon the Stock-market, however, continues; and every description of stuck is I per cent. lower than it was in the end of last week.
In the Foreign Market there lies been some considerable business in Dutch Two-and-a-half per Cents., at an advance of :4 per cent.; occasioned by the rapid progress of the arrangement for the apportionment of the Belgian portion of the Dutch Debt : and though the market received a check on Wednesday, by the sale of 300,000 guilders at 531„ by an influential broker, it lees since re- vived, and is now at the highest price of the week. Spanish Active Stock was very steady up to this morning, and the fluctua- tion had been between 28 and 2.tq-; but as soot as the improvement of t per cent. in Paris on Wednesday, and the report of M. Litmus having been closeted with the King at the Tuileries, became known, an impulse was given to the market, and the price is now 4 per cent, above the closing quotation of last night.
We yu ,terday received intelligence from Lisbon to the 10th. The budget for the year EtI40-11 had been had before the Chamber. The deficit upon the year suit nits to within a trifle of the sum required to pay the dividends and provide the sinking-fund upon the Foreign Debt. It is proposed by the Fi- nance 31inister to hind the arrests 01 interest now due upon the Foreign Debt, in a Six per Cent. Stock, at 3 ; and that in future one half of the ac- cruing divitkiak si,all he paid in money, and the remainder converted into it Six pee Cunt. Steel:, it n the same terms as now proposed for the dividends at present oierdue. It is proposed to raise the sum necessary to meet the in- tended ca ments upon the .Foreign Debt hy new taxes. The arrival of this intelligence produced a favourable effect upon Portuguese Securities; fiir, though tin! prospect thus held out to the llousiludder is not very favourable, it
is anticipated by E-cane of the more holders, that the home and foreign
creditor, will it be put upon t hu SNOW lboting, and that a portion of the amount now paid fur the dividei.d, 01' the Domestic Debt will be made tivailuble for the payment of the dividends upon the Foreign Debt. The Bond, tire nearly 2 per cent. above our la..t prices. Russian Stuck still continues in demand, and has teen quoted at 11(4.
SAWRITA y, r (.1;1mm.
The, pressure for money is considerably lossmed to-day, and the difference between th.:: price of Consols for Aloncy and that for Account has decrened per cent, Lung Annuities are lower; soil, front 11 1-16, have been done at 13 15-16. Exchequer Bills are, however, firmer, the premium hying from Is.
to :is. Ili the Foreign :Mario t, has been almost entirely confined to Spanish Stiwk, which has experh Lc, l r, r. iderahle 1111(111:111011: the price of the Active Lou,ds rose per rcpt. on Thu r-II:ty in REIN, and nun mat ket opened this morning :it 204, feil to 29, uud after being at 24-, is ROW 291'111. It is still COnfithindy ii•strai tl on the one hand that M. TmEns will become Minister, and that CA BUJ:HA is anxious to make terms; while on the other it is as con- fidently asserted that Lours PIM. [PPE will never admit M. Timms as :Mi- nister, and that CABRERA only wails the return of line weather to resume active operations : one thing only is 3 per [',•ot. Cons, . 91,1 On; 1 ]lravili:n 5 per Cents 7171)%8:311
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