THE MONEY MARKET.
STOCK EXCHANGE, FRIDAY EVENING.—A very considerable change has oc- curred here in the value of all public securities, English as well as foreign, since our last report; and were we to judge from appearances only, we should be inclined to say that a still more important change Is impending. Appearances, however, in this place, are generally so fallacious, that not only do we not venture an opinion ourselves, but would also caution our readers against acting on any hasty coneht- sions from the present aspect of our atmosphere, which after all may, and we trust will, prove only temporarily and briefly overcast.
The closing price of the Consul Market last week was 31i for the Account. On Monday, the news from Brussels had tin immediate effect, and the Market gave way, first to 901 and after some fluctuations, ultimately to 904. On Tuesday, the news was deemed more favourable, and Consols rose to 90.4- ; and on Wednesday, even to 00; but before the close of that day's Market, receded to 904 ; and re- mained thereabouts until the close of Thursday. To-day the morning's news was decidedly of more encouraging character ; for in addition to other cir- cumstances, we learned that the French Funds had advanced to nearly 74. Yet Consols remained sullenly at 90.1; a fact which spoke so conclusively to the more experienced, that they immediately began to shorten sail, and prepare for the coming storm. Nothiug material occurred, however, until twelve o'clock, when the price fell to 90. There was then a short calm, but by half-past twelve, the storm began in earnest, and the price rapidly fell to 894. In the afternoon, it ap- peared as if there would be some cessation at that point; but the price again gave way ; and, after various fluctuations, closed at 80 to 4, the lowest of the day, and indeed of the year.
The circumstance which most struck us in the day's transactions, was that nobody could account for the fail. There appeared to be no cause or mo- tive for the sales to-day, which had not existed yesterday. Everybody had a story or theory of some sort ; but no two agreed. Of reports there were plenty; but it is not worth while to mention them more particularly. The most plausible is a suspicion that the Great Man is selling his Stock ; and if that be true, there is cause enough for a much greater fail. In short, the want of cause assigned is what we least of all like ; for it was precisely in that way that the panic of 1825 was ushered in. At that time, and upon every fall, it was asked, " What is the cause t"—while the answer was, "There are no news—there is no cause—but every body is selling."
All the Heavy Stocks have fallen with Consols—the New 34 per Cents to 94; and even Exchequer Bills have given way 5r., although mousy is abundant enough. India Bonds are at 74 prem., having lately been so high as 90; but for this fall the cause is a separate one, the Company having announced an intended reduction of the interest to 2I per cent. The notice of this was sent to the Stock Exchange yesterday, and under other circumstances would have produced a rise of Consols. In the Foreign Market therehas been a double pressure—first, from Holland, where the'events in Belgium had occasioned great pecuniary difficulty and alarm, and led to the export of Bonds of every description for sale in the Fgtglish Market; • and secondly, from the fall of Consols. Russian, lately at Ill, fell this afternoon to 100; and Danish, not very long ago worth 75, to 684. Brazilian is down to 69; Co- lombian to 21; Peruvian to 18 or 19; and Portuguese to 69. In short, everything has suffered but Spanish, which has advanced nearly one per cent—showing most remarkable confidence in the holders.
In the Share Market, nothing happened to be offered for sale of any moment; otherwise we may suppose that Market would have followed the others.
SATURDAY, IIALF-PAST TWELVE.—The Consul Market opened at 89, and re- mained tolerably quiet until about half-past eleven or twelve, when the sales of Stock were renewed, and prices have fallen to 834 to which is the present. The gloom is excessive, and wants only the cloudy sky of December to make it perfectly like 1525.
The Foreign Market is quiet enough, but prices are all lower, and indeed the quo- tations DOW put are nomina , for no considerable business could be done at them either way.
Bank Stock .... 2l6.4 217 3 per Cent. Red. — 3 per Cent. Cons. 894 884 33 per Cent. New 95.1 Consols for Acct. 894 884 Long Annuities. 19i
Ex. Bills, 10001. 79 73 India Bonds .... 73 74 70 Brazilian .... 69 Buenos Ayres... Chilian Colombian .....
Danish.... .. Greek.. ...... 3bxican ....... Peruvian ....... Portuguese ..... Russian... ..... 204 67 30a 36 13 684 99 21 63 31 37 20 69 100 Spanish.. ..... 25i 251 Ditto, New
SHARES.
Bolanas — — Brazilian — — Columbian ... •. — — Anglo:Mexican — — United Mexican —
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