MONEY MARKET.

STOCK EXCHANGE, FRIDAY AFTERS:OM

The English Stock Market has been firm nearly the whole week at our last quotations. The fluctuation of Consols for Money have been from 961 sellers to 961, and for Account from 96} sellers to ssi buyers; the closing quotations this afternoon, 96 for Money and 96i buyers for Account. Bank Stock, which for these few weeks has been slowly improving, had at one period advanced since Saturday fully 3 per cent—the price yesterday reached 216. The quotations are not quite so firm today ; having fallen to 214}, and closing at 214 to 216. We are informed that this improvement has been occasioned by the purchases of country capitalists, with whom this stock appears to have become a favourite investment. The discount business of the Bank of England has been more extensive during the last three weeks than for any corresponding period since 1847. The value of money will probably rather increase than diminish during the autumn : we are therefore inclined to refer the increased value of Bank Stock to the general prevalence of an expectation of an increase in the profits of that establishment to be derived from the augmented value of capital. This afternoon the Bank Directors have given the usual notice of their willingness to make advances at the rate of 2 per cent upon approved securities, until the opening of the books of Re- duced Three per Cents and Three-and-a-quarter per Cents in October next.

The transactions in the Foreign Market have, with the exception of those and Mexican without variation. Portuguese Beads am also steady at our previous quotations. The meeting of the Spanish Bondholders was held on Wednesday, at the London Tavern. Mr. James Capel, in the chair, detailed to the meeting the proceedings of the delegates at Madrid, and the communications of the London Committee with Lords Palmerston and Howden. After some dis- cussion, resolutions pledging the Bondholders to the adoption of the follow- ing plan for the conversion of the Spanish Debt were adopted by a large ma- jority, only eleven dissentients appearing.

That for every 1001. Active Stock, and the ten years' arrears of dividend which will be due on the 1st November next, being 501. sterling, 1501. Active Stock shall be given, the said Stock to commence bearing interest at the rate of 1 per cent per annum from the 1st January 1851. Such interest to be paid half-yearly on the 1st January and 1st July in each year in London. The interest upon the said Stock to increase f. per cent in every second year, until it becomes a Three per Cent Stock ; andthat forevery 1001. Passive Stock there be given 331.6s. 8d. of the like description of One per Cent Stock, to increase in like manner to 31. per cent."

There seems to be little doubt but that the Spanish Government are pre- pared to agree to terms nearly similar to those now proposed, with some re- servation as to the Passive Debt ; and, assuming that the arrangements here laid down are carried out, the amount of the Spanish Debt comprehended by them will be as follows— Active Debt, including the portion arising from the Deferred

Stock £40,000,000 . Ditto from the proposed conversion of Passive Stock at the rate of one-third of the nominal capital 3,400,000 Arrears of Interest upon the Active Debt 18,000,000 •

SATURDAY TWELVE O'CLOCK.

The English Funds are steady at the closing quotations of yesterday, with- out the occurrence of any business of importance. In the Foreign Market, the only variation is in Spanish Active Stock, which is not quite so firm, being quoted at 191 f. The inclination for Railway purchases seems still to contmue, and prices are generally in advance of the closing quotations of yesterday; as will be seen by the following record of business transacted—Caledonian, 71 ; East Lincolnshire, 28 281 -Great Northern, 91 1; Great Western, 601 / ; Lancashire and Yorkshire ilifths, 21 1; Black- wall, 94; North-western, 110# 110; South-western, 65}; North British, Ai- Ditto Preference, 5; North Staffordshire, 6j; York, Newcastle, and Berwick, 15 141; Ditto Great North of England Purchase, 4k. SATURDAY Two O'CLOCK.

' The English Funds have given way i per cent, without any important transaction. In the Foreign Market, Spanish Active is rather lower, closing at 1911: but the business has been insignificant. The following are the principal bargains recorded—Brazilian, 92/ ; Buenos Ayres, 591; Chilian, 104; Mexican, 291; Peruvian 81 ; Russian Four-and-a-half per Cents, 96a t ; sra:sh Active, 1911 1'31.;_ Ditto Passive, 4 1 1 1; Ditto -Three per Gents, 37 ; Dutch Two-and-a-half, 671; Ditto Four per Cents, 89 # 1 1.

S Mining —St. John del Rey, 151. Bank—Landon Joint Stock, 181.

The Railway Share Market is firmer, and a disposition for investment is stall observable. We understand that the recent improvement in this depart- ment is 'chiefly owing to large purchases made by country capitalists, specu- lating on a large increase of traffic from the Exhibition of 1851. The follow- ing are the principal helium recorded—Aberdeen, 9# 10; Bristol and Exe- ter, 62 ; Caledonian, 7# ;Chester Chester and Holyhead, 81; Ditto Preference, 8 at; Eastern Counties, hew Preference 6 per Cents, 11 1; Great North 1 10; Great Southern and Western, (Ireland,) 291; Great Western, 60 ; Ditto New, 171., 81 ; Lancashire and Yorkshire, 421 43; Ditto New Guaranteed 6 per Cents, 121 ; London and Blackwell, 41 1 ; London, Brighton, and South Coast, 791 1; London and North-western, 110# 1 109# ex div. ; Ditto New Quarter-shares, 18 17#; London and South-western, 661 61 641; Midland, 3311 11; Ditto 501. Shares, 10; North British, 611 - Scottish Central, 12; Scottish Midland, 61 ; South-eastern and Dover, 16 16; York, Newcastle, and Berwick, 15 14# 15; York and North Midland, 614 i i ex div. ; Boulogne and Amiens, 71; East Indian, 9f.

3 per Cent Consols 96 Danish 3 per Cents 76 9

Ditto for Account 964 f Dutch 21 per Cents ...... . ,. 57 3 per Cent Reduced 96 1 97 Ditto 4 per Cents 89 f 4

1 31 per Cents. 98f 9 Mexican 5 per Cents 1846 291 1 Long Annuities 8 3-16 5-16 Peruvian 6 per Cents 81 2 Rank Stock . .... 214 216 Portuguese 4 per Cents 1842. 33 4 Exchequer Bills 64 67 pm. Portuguese 5 per Cents 1824, 76 9 India Stock 266 Russian 5 per Cents 111 113 Brazilian 5 per Cents 91 8 Spanish (Active) 5 per Cents. 194. 1

Be an an 41 per Cents .. 90 2 Ditto 3 per Cents 1842 371 t

Chilian 6 per Cents 102 4 Venezuela 34 6 Danish 5 per Cents 102 4 £61,400,000

During the recent discussions at Madrid, the Directive Junta stated the amount available for the payment of the Spanish Debt at 2,000,0001. annually ; and as 950,000/. of that amount is absorbed in payment of the interest upon the local Three per Cents, only 1,050,0001. remain applicable to the interest of the Foreign Debt. Under the proposed arrangement, the amount required will till 1853 remain at 614,0001.: there is consequently a reasonable expecta- tion of its acceptance by the Spanish Government, and of the fulfilment of the conditions of payment. The Share Market is rather firmer : a disposition for speculation is more apparent since yesterday and today, and prices are generally higher, with a tendency to advance.