MONEY MARKET.
Our anticipations of a pressure for money at the shutting the books of the various Stocks previous to the Dividends, were fully realized, and there has been a very great demand for money : which was, however, in some degree mitigated by the publication of the following resolution of the Bank -Di- rectors— • ' Bask of England, 3d Jane 1841.—At a Court of Directors held this day. Resolved, That until further notice, the Bask of England will discount bills of exchange, and notes not baviug more than ninety-five days to run."
It has till now been the practice of the Bank Directors only to discount bills having sixty days to run ; the extension of the time afforded by the resolution of yesterday will thus render a much larger number of bills eligible for dis- count at the Bank, and is consequently an important accommodation. The immediate effect of the publication of the resolution was to mitigate the pres- sure which had previously existed; and though money has continued scarce today, the prices both of Stock end-Exchequer Bills have improved, and more than recovered the shock which they experienced in the early part of the week, when the unfavourable nature of the intelligence received from China, operating in conjunction with the scarcity of money, depressed prices about j per cent. Consols for Money have been as low as 89k, while for Account the price was depressed to 90a : bat this heaviness did not long continue, and the market has been gradually though slowly improving; and at the shutting of the books of Consols, the price for Money was 89& 90, while that for Account was 90/. This morning the market has been firmer ; and though the books are shut, Console for Money have been done at 89/, and afterwards at 90/; while for Account the price has improved to 891 ex divi- dend, equivalent to a quotation of 90 with dividend : thus marking an ad- vance of* per cent. upon the highest price of last week. New Three-and-a- half per Cents., which were heavy at the shutting, have today been at 98{ ; the money transactions that have occurred in this stock and Consols having been special transfers, allowed by the Bank Directors upon special application stating some extraordinary reasons for the permission required. The premium upon Exchequer Bills was firm till yesterday, when it gave way from 13s. to 7s., but improved again upon the promulgation of the Bank-notice, and is to- day 8s. to 10s.
The business of the Foreign Market has been very unimportant, and the fluctuations of the current varieties have not exceeded jc to I< per cent. At the commencement of the week, most of the markets were very heavy ; but today the appearance has been more lively, in consequence of the improvement of the English Funds. The South American and Mexican, however, continue much depressed, and the signs of improvement have been almost entirely con- fined to Spanish and Portuguese ; though the business transacted even in these has been unimportant. The Committee of the Stock Exchange met on Mon- day to consider the propriety of admitting to quotation in the Official List the newly-converted Portuguese Stock ; but as it appeared that little more than 2,000,0001. Stock had been converted, or only about one-fifth of the whole amount of the Portuguese Debt, the Committee did not consider that the Bondholders generally were satisfied with the terms of the proposed conversion, and therefore refused to admit the new stock to quotation. A sale occurred today at the Auction Mart, at which some shares of the London Institution were sold at Si., while almost at the same moment the same description of share was sold in the Stock Exchange at 15/. Other mis- cellaneous descriptions of shares were sold at prices varying from 11. to 31. under the current rates at which the same shares were sold within a day or two in the Stock Exchange. The sales in question were made by order of the
assignees of a bankrupt, and no members of the Stock Exchange were present at the sale, or doubtless better prices would have been realized.
SATURDAY. TWELVE O'CLOCK.
The division of last night has produced a trifling decline in the prices of the Public Securities, and the quotations of this morning are about k per cent. lower ; Consols for Account having been done at 894 and 89, and the price now being 89 to 4. Exchequer Bills are also lower, viz. 7s. to 9s. In the Fo- reign Markets, prices are the same as yesterday, with scarcely any business. There is, however, a alight improvement in Brighton Shares, which are today 31 to 3i dig.
SATURDAY, FOUR O'CLOCK.
There has been as little business doing during the afternoon as there was in the morning, and with few exceptions prices are generally the same. Bank Stock is quoted at 170, and Exchequer Bills is. to 9s. premium. We cannot quote any variation in the prices of the Foreign Funds. Spanish Stock is heavy at the nominal prices, and generally the appearances are more down ward than upward. - 3 per Cent. Consuls shut Columbian 6 per Cents 211 2 Ditto for Account 891 Danish 3 per Cents 770 8
3 per Coot. Reduced 821 9 Dutch 21 per Cents 521 1
31 per Cent. Ditto„ s 974 j Mexican 5 per Cents. CO1194. 28* New 3t per Cents shut Portuguese Regeney 5 per Cts. 331 4
Bank Stock — Ditto New 5 per Cents. 1841.. 288 91
Exchequer Bills ... 7 9 pm. Ditto 3 per Cents 201 1
India Stock shut Russian 5 per Cents ..... ... 1121 131 Brazilian 5 per Cents.. 67 8 Spanish (Active) 231 1 Belgian 5 per Cents 100 1
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