MONEY MARKET.
STOCK EXCHANGE, FRIDAY AFTERNOON.
The intelligence received on Monday from the United States produced an im mediate and favourable effect upon the English Funds; the prices of most of them having improved about 4 per cent; and, though the advanced quotations have not been entirely supported, the closing prices of this afternoon are to the full h per cent above those of Saturday last. Otherwise, the market has been quiescent, and the business transacted has been of an unimportant character. The premium of Exchequer Bills has been without change, and the prices both of Bank and India Stock are well supported. Mexican Stock has been the chief object of interest in the Foreign Market. By the last packet, intelligence was received that the Government had removed the agency of its affairs from the hands of Messrs. Lizardi and Co., and confided it to Messrs. John Schneider and Co.; and the announcement of this circumstance, coupled with the fact that extensive arrangements were in progress by the Go- vernment in Mexico to reestablish its credit with the bondholders here, and to pro- vide for the payment of the accruing and over-due Dividends, produced an imme- diate effect upon the Active Stock; which rose lh per cent. The Deferred Stock has been more sensibly affected, having advanced between 3 and 4 per cent; but, through a reaction in the gossip, the Stock, which had risen 3i per cent, has to- day fallen nearly 2 per cent. Messrs. Schneider have expressed their determina- tion to give full publicity to all their transactions with the Mexican Government relating to the agency in respect of the Bonds. The business of the other Foreign Funds has been unimportant. The Railway Share Market has been in a very agitated state. The decisions of the Parliamentary Committees of the week have been of more than ordinary im- portance. That with regard to the Rugby, Worcester, and Tring line has afiected not only the shares of the railway in question, but those of the Midland, and Lon- don and Birmingham, detrimentally, and favourably those of the Great Western. The decision is reported to have depended upon the casting-vote of the Chair- man; and perhaps in no previous instance has the opinion of one individual been of so much importance; as its promulgation has affected the several varieties of pro- perty above referred to, for good or evil, to the extent of about 2,000,0001. Among other schemes which have been successful in the Parliamentary lottery, we may notice the Caledonian, and the Cornwall: the former have improved, but the suc- cess in question produced only a momentary effect upon the latter. The effect of the decision of the Committee in the Rugby case has been to depress the shares about 31. A great demand occurred for both Brighton and South-eastern and Dover Shares on Monday and Tuesday, and a rise of nearly. 41. occurred in each of them; and although some reaction has taken place, prices are considerably those of last week.
A special meeting of the Brighton Railway Proprietary was held yesterday, to 'cm:udder the case of certain holders of loan-notes. When the loan-notes were issued, the holders of them had, besides the right of receiving .5 per cent for their capital and reimbursement on the 15th February last, the option of converting them on that day into shares, to be in every respect equal to the old Brighton Railway Shares, at the rate of 401. per share. The holders of loan-notes to the extent of 32,0001., representing 800 shares, omitted from inadvertence or other- wise to give notice within the time specified, and thus forfeited their right to con- vert their loan-notes into shares. The Directors summoned a special meeting of the Proprietors, to consider whether the holders of the loan-notes in question should receive those shares as a favour: and, after some consideration, the meet- ing determined that the negligent proprietors of the lean-notes were only entitled to receive back the capital, and could not have shares. By this decision, the holders in question are forced to submit to a loss of 24,0001.; as, if the decision had been the other way, they would have been entitled to receive 800 shares at 4-0/. which are now worth 701. per share.
There has not been any important change in the French Railway Shares; and the business transacted in them, though extensive on the first few days of the week, has since been unimportant.
SATURDAY, TWELVE O'CLOCK. 7
There is no change, nor has any business of importance occurred, in the English or Foreign funds.
The Railway transactions have as yet been few. Rugby, Worcester, and Tring have declined to 1 premium; while Croydon have advanced to 204; the deter- mination of the Committee in favour of the. Atmospheric line to Portsmouth having given an impulse to these shares. The following is a list of bargains ac- tually occurring: Cambridge and Lincoln, 84 8; Dundalk and Enniskillen, 54; Eastern Counties, 20h; Eastern Union, Extension, 3; Blackwell, 10; Croydon, 204 20; London and York, 34 4; Midland, 180; Ditto, New, 26; Newcastle and Berwick, 17h; Newark and Shleffield, 44 ; Rugby, 1 premium; South Wales, She No transactions have as yet occurred in the French and other Foreign Shares; but, as the prices were rather heavy in Paris on Thursday, out market may be considered as fiat, at the closing prices of yesterday.
SATURDAY, Two O'CLOCK.
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