MONEY MARKET.
STOCK MCMANUS, THURSDAY AFTERNOON.
As tomorrow, theist of November, will be kept a close holyday both at the Bank and the Stock Exchange, our usual Friday's report of the week's busi- ness must be given this afternoon. The English Funds have not experienced much fluctuation, nor does the market show any symptom of improvement. Consols for Money have fluc- tuated from buyers to sellers at 991, and for Account from buyers to sellers at TOO. It is the subject of remark, that notwithstanding the plenty of money, the Government Securities continue without any sign of improvement. We are inclined to refer the dulness of the market to the total absence of any spe- culative purchases : any large quantity of Stock brought to market remains a weight upon it until absorbed by the bond fide purchasers for investment ; the present high price of Stock having removed almost all disposition to specu- late for the rise. The continued heaviness of the French Funds, now about 18 per ceat below our own, operates to keep down prices here ; and as a large French loan is about to be brought out, and one for Belgium is already con- tracted, it would appear That our great capitalists are reserving their funds for employment in these foreign enterprises, instead of investing them in oar Stocks.
The Belgian Loan of Messrs. ROTEISCHILDS was apportioned today, and laut been quoted as high as 1 per cent prem., closing at abottt 4 prem. The depo- sits are as follows-
12 per cent on the 4th November 1844. 12 .... 24 December 1844.
1st January 1845. 12 3d February 1845. lit 1st March 1845.
591 per cent at the fixed exchange of 25 franca per pound sterling. Bank Stock had been as low as 202, but has improved to 204.
We noticed last week that the Dutch Government had abruptly terminated the period fixed for allowing the holders of their Five per Cent Stock to ex- change their Bonds for Four per Cents at the rate of 100 Four per Cents, and 33 per cent in money, for every 100 Five per Cents, and given notice that on the 2d November the Minister proposes to reduce 25,000,000 guilders, at the rate of 100 Four per Cents for every 100 Five per Cents, with 3 per cent in cash ; the numbers of the Bonds to be so converted to he determined by lot- tery. The result of the conversion will therefore be as follows-
Amouut of Stocks for which the holders have assented to the proposed terms of 100 Four per Cents and 31 per cent in cash for every 100 Five per Cents Guilders 36,400,000 Amount proposed to be draws for reduction on 21 November at the above rate 85,000,000 Remaining still to be paid off 78,000,000
The business of the Foreign Market has not been of a very extensive kind. Portuguese Bonds still continue in demand, and have been as high as 533; influential buyers for cash having purchased to a large extent : the impulse thug given to prices continues, and the market closes firmly. The reported arrange- ment by which the Prince of the Asturias is to marry the young Queen of Spain has produced a favourable effect upon Spanish Bonds : which have risen, and are today firmer than they have been for some time. Several parties who are generally well informed upon Spanish affairs are operating for the fall in this Stock, in expectation of a revolutionary movement in the Peninsula. With the 1st of next month the whole of the existing Belgian Five per Cent debt will become Four-and-a-half per Cent Stock ; and (as we have before stated) a notice will be issued from the Belgian Embassy, 9 Weymouth Street, Portland Place, stating when the Bonds are to be exhibited there for the purpose of being stamped. The holders, when the time arrives, will be ex- pected tu exhibit the Bonds themselves at the Embassy, in order to being checked against a list of their number and amounts to be then delivered : the list itself is to be left at the Embassy, but the holders will retain the marked Five per Cent Bonds until the new Four-and-a-half per Cent Bonds are ready, when they will have to give up the Five per Cent Bonds and re- ceive an equal amount of Four-and-a-half per Cent Stock in exchange. The dividend upon the Five per Cent Stock will be paid in due course on the 1st instant.
There is not any material feature in the Railway Shares : but the heavier descriptions are rather more in demand, and several of the new undertakings have fallen still-born from the hands of their projectors. The most remarkable feature in this department is the extraordinary rise in South-eastern and Dover Shares, which within a year have risen nearly 20/. per share—namely, from 24/. to about 43/. The dividend paid for the year has been only 12s. a share; but as the Lancashire speculators have taken them up, the above remarkable im- provement has occurred : it is said that nearly 14,000 Shares have been pawned at one of the Joint Stock Banks in Lancashire.
SATURDAY. TWELVE O'CLOCK.
The English Funds were firm at the opening of the market : a sale of 20,000/. Three-and-a-quarter per Cents at 102 has, however, caused a trifling depres- sion, and Consols for Money and Account are now at Thursday's quotations. In the Foreign Market the only business is in Spanish Stock ; both varieties of which have advanced.
The business in Railway Shares has been confined to the following—it will be seen that the heavy and old lines are improving: Birmingham and Gloa- ceater, 105; Bristol and Exeter, 75; Caledonian, 43; Edinburgh and Glasgow, 60; Great Western, 1403: Ditto, Half-shares, 8536 ; Birmingham, 215 216 ; Greenwich, 9; 3; South-western, 76 53; Manchester and Birmingham, 49; Midland, 108 7; Newcastle and Darlington Junction, 411; Norwich and Brandon, 111 11; South-eastern and Dover, 423; Ditto, New, 153; Trent Valley, 8k; York, North Midland, and Selby, (Scrip,) 57 6 ;London and York, 33; Cburnet Valley, 33 ; Kendal and Windermere, 6k; Paris and Orleans, 393 3 ; Paris and Rouen, 381 3, ex div. ; Central of France, (Masterman's,) 43; Boulogne and Amiens, 43. SATURDAY. TWO O'CLOCH.
The predominance of sellers of every description of Stock and of Exchequer Bills has caused a decline in all our quotations : Consols for Money have been at 994, and Reduced Three per Cents at 98/ ; Three-and-a-quarter per Cents have also been at 1014 ; but the closing prices are all a shade above the lowest quotations of the day. Exchequer Bills have declined to 65, and dos* at 65 7 premium. In the Foreign Market, Belgian Scrip is heavy at i to i premium : the other Foreign Bonds are without material change. The usual variety of Share busi- ness has occurred, as will be seen by the following list of bargains in addition to those given in the morning : Chester and Holyhead, 63 3 ; Eastern Counties, 131 3; Great Western, 1393 403 ; Ditto, Half-shares, 863; Hull and Selby, 67 ; Birmingham, 2141; Ditto, Quarter-shares, 243; Brighton, 473 64; Man- chester and Leeds, 113 12; Ditto, Half-shares, 47 ; South-eastern and Dover, New, 15; York and North Midland, 113 111 ; Ditto, Half-shares, 56 53; Ditto and Scarborough, 77 53; Paris. and Rouen, 381 ex. div.; Central of France, (Masterman's,) 43; Ditto, Constituted 93; Boulogue and Amiens, 43: Cocaes, (Mining,) 5. 3 per Cent Consuls 991 4 Colombian ex Venezuela ... 131 144 I
Ditto for Accouut 991 100 Danish 3 per Cents 88 9 3 per Cent Reduced 99k Dutch 24 per Cents 624 4 31 per Cents . 101t 2 Ditto 5 per Cents 981 9 Long Annuities 11 15-16 12 Ditto 4 per Cents 961 Bank Stock 202 4 Mexican 5 per Cents Coned. 344 5 Exchequer Bills prem. 65 67 Ditto Deferred 154 4 India Stock 286 8 Portuguese New 5 p. Cts.1841 528 34 Brazilian 5 per Cents 85 7 Russian 5 per Cents 118 19 Belgian 44 per Cents 101 3 Spanish (Active) Spec Cents. 234 4 Chilian 6 per Cents 103 5 Ditto 3 iser Cents 1842 351 i
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