MONEYI MARKET.
STOCK ETIELLE0754PRIDAT APTERNOOK.
The Stock Market has been in an elastic state during the whole week; the certainty of the successful passage of the Corn Bill through the Lords having given a tone to it. Up to this morning prices had advanced, and were about 4- per cent above the closing quotations of last week. The news of commencement of war between the United States and Mexico then caused an immediate depres- sion, and the quotations of the English Funds were at one period per cent below those of the morning. A reaction occurred in the course of the day, to nearly the whole extent of the decline; Consols for Money, which had fallen from 964 to 96*, closing at 94 k; for Account, the price, which from 97a had de- clined to 96k, was last quoted at 96i 97. The settlement of the Consol Account, which occurred yesterday, was not characterized by any feature deserving re.. mark. Money has been and is unusually scarce, and in great demand upon loans on the security of Stock and Exchequer Bills; and interest at the rate of 5 per cent per annum was given for such accommodation this afternoon, while upon Foreign Stock the rate varied from 6 to 10 per cent. The premium of Exchequer Bills still continues depressed; being kept down by the scarcity of money., and the anticipation of large sales of this security on the approaching determination of the Legislature in respect of a large number of Railway projects; as, whether any given bill be passed or rejected, the like effect will in either case be.preduced,-a viz. a withdrawal of the amount deposited in the Court of Chancery, and conse- anent sale of Stock or Exchequer Bills. Under these circumstances, the fluctua- tion has been between 15s. and 20s.; the last quotation of today being 19s.; Advertised Bills are 12s.to 17s. premium. The interest in the Foreign Market has been chiefly concentrated upon Mexican Bonds. Some considerable discussion has occurred between the agents of the Mexican Government, the Committee of Bondholders, and the parties who were chiefly interested in procuring the rejection of the recent scheme for amalgamating the Active and Deferred Debts. The result has been, that in order to carry out the redemption of the mortgage upon the tobacco revenue, it baa been resolved to sub- mit to the Bondholders a proposition by which the holders of Active Bonds shall be called upon to submit to a reduction of 10 per cent upon the capital of the debt, namely from 100 to 90; while the holders of Deferred Stock shall be called upon to submit to a reduction of 40 per cent, namely, from 100 to 60; the 60 per cent to become Active Stock immediately, instead of in October 1847; while the holders of Active Bonds are to receive 2/. 10s. in money in liquidation of all over-due di- vidends. The proposition has been very favourably received; but it remains to be seen whether it will be palatable to the general body of the Bondholders.
The American news today has produced a very unfavourable effect upon Mexican Stock; of which the Active has fallen from 314 to 294, and the Deferred from 17* to 154. The other Foreign Bonds are all lower; but today's transactions have been unimportant.
The Shares both Foreign and English continue depressed, and the Scrip of the new lines without any symptoms of vitality. The determination of the specula- tors at all risks to carry on many of the new schemes, seems unabated; most of the meetings called to determine upon the abandonment or prosecution of some of them having resulted in a resolution to go on. Should this feeling predominate, and any large number of new bills be passed this year, the difficulties of the au- tumn and consequent money pressure will, even without the oceurrence of political disaster, be extreme; but if any political misadventure arise, they may become in- surmountable.
SATURDAY, TWELVE O'CLOCK • .
The English Funds are * per cent below the closing quotations of last night; and a general disposition to sell Stock is apparent. The transactions, though more important than usual on Saturday, have not been extensive; but the ap- pearance of the market is certainly heavy. The intelligence from Portugal has produced a decline in Portuguese Bonds. Immediately upon the opening of the market these securities, which were yesterday at 56 to 57, were offered at 54; and they are now nominally quoted at 53 to 55. We cannot, however, hear of the occurrence of any bargains at these low quotations. The other Foreign Funds may be considered as heavy at yesterday's prices, with but few transactions. The Railway Shares are without material change; the general tendency being downwards. We can at present only notice the occurrence of the following bargains—Eastern Counties, 234; Leicester and Bedford, * premium; London and Birmingham, 227; North Staffordshire, 34 premium.
SATURDAY, TWO O'CLOCK,
The English Funds close rather more firmly than in the morning; the closing prices at an advance of h. In the Foreign Market, Portuguese Bonds have been done as low as 524, and afterwards at 54; the closing price is nominally 53 to 55. Mexican Bonds are also quoted lower, having been done at 29*: the De- ferred is the same. Spanish and the other Stocks are heavy at current quota- tions, but without any business of importance. No change or transactions of moment have occurred in the Railway Shares; which may be generally quoted lower; but with a few exceptions. Aberdeen. 44; Birmingham and Gloucester, 125; Ditto, New, 31*; Caledonian, 1144; Eastern Counties, 24; Ditto, York Extension, 14 4; Great Western, Quarter-shares, 16; Lancaster and Carlisle, 57; London and Birmingham, 227 8; Ditto, Quarters, 284, London and Blackwell, 74; London and South-western, 794; Scottish Central, 16; Scottish Midland, 61 7; Boulogne and Amiens. 114; Dutch-Rhenishi 74; Great Northern of France, Constituted, 134; Namur and Liege, 34; Orleans and Vierzon, 14; Orleans and Bordeaux, 10 91; Paris and Lyons, Constituted, 51 6 54; Samhr° and Meuse, 54 44.
3 yr Cent Consols 061 4 Columbian ex Venezuela • • 16 17 61 i Ditto for Account Danish 3 per Cents 87 8 Dutch 24 per Cents 3 per Cent Reduced 95} 1 501 601 31 per Cents 9
"915111 12164
10k 3-16 Long Annuities Ditto 4 per Cents Mexican 5 per Cents Rank Stock 206 a Ditto Deferred Exchequer Bills prom • 10 18 Portuguese New 5 p. Cts. 1841 52 54 India S•ock 64 6 Ditto 4 per Cents 1545 52 54 Brazilian 5 per Cents 8202 Russian 5 per Cents 108 ilb Belgian 41 per Cents 96 97 Spanish (Active) 6 per Cents 241 Chili= 6 per Cents 95 97 Ditto 3 per Cents 1642 361 74
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