MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERNOON.

The market 'has been in a feverish state, and much fluctuation has occurred. Prices rallied slightly in the early part of the week; to fall again yesterday, in anticipation of an increase in the Bank rate of discount; but as the Directors separated without making any change, the market became firmer, and continued so until this afternoon. A sale then made by a speculator connected with pigeon- expresses, produced a complete revulsion, and the closing quotations are the lowest recently recorded. All sorts of rumours are current. The money-market of Paris is stated to be suffering as severely as our own under the Share crisis; and the names of more than one banking firm of eminence in the French metropolis are mentioned as having been compelled to suspend payment. The fall in almost every description of English securities since the morning has been from 4 to per cent. Reduced Three per Cents have declined from 93a to 93; Consols for money, from 94 to 944, and for the Account from 955 to 945; the Three-and-a-quarter per Cents from 955 to 954. Bank Stock is last quoted at 203; and India Stock, Which had fallen to 260, has since reached 262. The increased demand for money in the commercial world is operating to depress the prices of Consols. The difference in the price for money and for the January account is such that, by carrying over Stock till January, that is selling for immediate delivery, and buy. ing beek for January, money may be borrowed upon Consols at the rate of about 25 per cent per annum. All capitalists who are in possession of this description of Stock can consequently obtain loans at a cheaper rate than by paying between ll and 4 per cent for discounting bills. At the last Censel settling-day, a large quantity of Stock was thus thrown upon the market, and its weight adds to the gloom occasioned by the Share panic, and the aspect of political affairs. The Foreign Funds have shared in the depression of the English, though the transactions have been on a very limited scale. Mexican Bonds have fallen to 274. Spanish Three per Cents and Active are both from 4 to 1 per cent lower.

Dutch Two-and-a-half per Cents have fallen about 1 per cent; and the Four per Cents in nearly the same proportion.

No amendment has occurred in the Share-market; where the new Scrip may be considered as unsaleable. The better class of Registered Shares have not fallen so much as might have been expected considering tue decline of Shares Kenerally. Great North of England are to day at the same quotations as last week. Birming- ham, Great Western, and Midland, are from 4/. to 51. per share lower; and the quo- tations of South-western the same. The comparative firmness of these larger shares would indicate that the various markets have received support by the in- vestment of capital. Many of the older class of shares, which during the last few months have been sold so as to pay about 35 per cent upon the capital invest- ed, may now be bought to yield from 44 to 5 per cent; and some investments have been made in the minor class of Binninghtun Shares realizing nearly 6 per cent upon the money laid out. The speculators have thus been compelled, from sheer necessity, to sell shares at enormous loss; and the prudent capitalist is reaping the harvest that has been sown in the recklessness and folly of the gambler.

The adjudication of the Paris and Strasburg and Tours and Nantes Railways occurred in Paris on Tuesday, and the result was known in London early on Wed- nesday morning. The Paris and Strasburg line was conceded without any com-

La Pinsonniere, M`Kenzie, and O'Niell, at a reduction of rather less than a year in the term proposed by the Minister. The result of these two operations 11HS been to consolidate all the Shares of the various London companies competing for the two lines.

So completely has the spirit of speculation died away, that scarcely any activity was communicated to the Share-market by the receipt of the above intelligence. Tours and Nantes (Constituted) Shares were bought at 4 premium; but we cannot learn of any transactions in Paris and Strasburg. The torpor of the market on this occasion is a startling contrast to the state of it upon the occur- rence of the adjudication of the Great Northern line in September last; when, as soon as the concession was known, some very large transactions occurred in the Constituted Shares of that company. they reached a premium of between 14/. and 15/. per share, from which they have gradually fallen, and been as low as Si. premium.

The Foreign Share-market evinces no disposition to improvement; the business transacted in it has dwindled almost to insignificance. Nearly all the accounts arising out of recent speculations may be considered as settled; and as there is now no temptation to new business, there is little ground for future alarm.

SATURDAY, TWELVE O'CLOCK.

The intelligence from America has given another complexion to the market; which opened this morning as briskly as it closed heavily. The first price of Consols for Account was 954, being 4 per cent above the closing price of yester- day: this quotation has not, however, been maintained, and the present price is 94-34. The other English Funds have experienced similar fluetnations. In the Foreign Market, Mexican Stock has been in den and at 30; an advance of more than 25 per cent since yesterday ; the intelligence of the commencement of negotiation with regard to the Texan territory having given this upward impulse. Nothing has occurred in the other Foreign Stocks. Shares are generally firmer, in conse- quence of the altered appearance of the English Fonda. We CAC as yet only notice the occurrence of the following bargains—North Staffordshire, 24; Oxford and Worcester, 144; Constituted North of France, 104 5 114.

SATURDAY, TWO O'CLOCK.

The English Funds close, after some fluctuation, within A per cent of the highest prices of the day; Consols for Account being 955, and the others in proportion. In the Foreign Market, the price of Mexican Bonds has been main- tained; and, after being marked at 40, they are last quoted at 294. The Deferred Bonds are marked at 155 and 16. Spanish Stock is heavy; the slight tendency to improvement which was noticeable during the day having passed away. The better class of Railway Shares are tolerably steady; Birmingham have improved slightly upon yesterday's prices, and the others are either the same or but little depressed. There is also a better feeling in some of the markets for the new Scrip, and offers to purchase have been heard. The Foreign Shares are still generally heavy; though one or two cases of improvement have occurred.

3 per Cent Consols .... . 944

Columbian ex Venezuela... 154 16 Ditto for Account

954

Danish 3 per Cents 3 per Cent Reduced

93

Dutch 21 per Cents 584 8 34 per Cents

954

Ditto 4 per Cents 91 4 Long Annuities

10 ,1

Mexican 5 per Cents Bank Stock

203

21591 39

Ditto Deferred 16 Exchequer Bills prem. 24

2

Portuguese New 5 p. Cts.1841 56 8 India Stock Brazilian 5 per Cents

261 81 3

Ditto 4 per Cents 1845 561119113

Russian 5 per Cents Belgian 44 per Cents

957

Spanish (Active) 5 per Cents 274 Chili= 6 per Cents

96 8

Ditto 3 Cents 1842 364 7

petition; all the companies, with the exception of one declared ineligible, hay' united. The Tours and Nantes lines was adjudged to the united companies