MONEY MARKET. sToc. EXCHANGE, FRIDAY AFTERWOON.
The success of the military and naval operations in Syria, combined with the
improvement in the French Funds, caused an upward movement in our mar- ket ; and though there have been several reactions, the result of the week's operations has been to establish a quotation at the close of to-day's business -4 per cent. above our last. Consols have twice been at 88i for Account, and at 88a for Money ; but on both occasions the market has receded, once to 88, and again to 88. The fluctuations have been principally governed by those of the French Funds in Paris; and by means of expresses, the closing quotations of one day in Paris have always been known in London on the afternoon of the following. The decline of yesterday was produced by the intelligence of a fall of 1 per cent. in the French Funds on Wednesday, said to be caused by the apprehension of a serious entente at tile opening of the Chambers yesterday. lhe market was heavy this morning at the commencement, and a large sale of Consols by the Bank .broker depressed the price of that Stock both for Money nod Account to 88. Early this afternoon, a copy of the Speech de- livered by the King of the French upon the opening of the Chambers was
i received, and as it s considered to be decidedly pacific, the market has im- provod, and the price of Consols both for Money and Account has reached 88a, closing at 884 a. India Stock has been quoted at 240; while Bank Stock is declining, and after being at 160 and 159, is to-day quoted at 159, being per cent, lower than the lowest previous quotation. Exchequer Bills are more in demand, and large bills—viz. those of 1,000/ each—have been at Is. premium, while smaller bills are quoted at 4s. premium. India Bonds are 15s. to 12s. discount. Money is rot much in request at the Stock Exchange ; the jobbers holding 'very little English Stock of any description, the extensive purchases for Money absorbing all the Stock that is brought to market. In the Commer-
cial world, however, the pressure is very great ; and from the operation of the recent limitation as to the length of bills eligible for discount at the Bank of England, it is extremely difficult to obtain money upon long-duted bills. One of this class, bearing the acceptance of one of our first bankers, was yesterday discounted at 10 per cent.: the rate fur two-months bills may, however, be stated at about 6 per cent. The arrangement to ehich we last week alluded, by which the Bank of England have estiddished is credit in IlambeN, with a view to sustain the rates of exchange, by supplying the demand for 'hills, has operated very lameticially, and our last advices trom thence mark an improve- ment of J. per cent. in the exchange in that city ; and as the price of gold had at the same time fallen 4 per cent., the real improvement in the exchange is 1 per cent.: our exchanges here are consequently improving. The Bank Directors IDIAC again thrown out, when presented ffir discount, all bills either drawn or indorsed by any merchants who are connected with the exportation of bullion to the Continent ; and in consequence, some first-rate bills were yesterday rjused bv them. In the Foreign Market, we have chiefly to note a considerable improvement in Dutch Stock-: the Two-and-a-half per Cents. have been done as Ingll as 51, and after receding to 50j, have ayain improved to day with the improvement in Consols, closing at 5Ih a. Russian Bonds are also at better prices, and are quoted at 112. Brazilian, and the other South American Securities, remain unchanged. The Chilian Dividend has been advertised, as we mentioned last week; but not a word has been said about the arrears. At this the Bond- holders complain, end justly. Spanish Active Stock has been depressed to 21A, by the threatening aspect of political 'Airs in Spain; but the firmness of this Stock in the Paris market has prevented any thriller decline here. An impulse has been given to it to-day, by a report that M. MexruzanAr, has joined the new Administration, as Minister of Finance; and after being done at 21a, the stock (-loses at 214 g. Portuguese Bonds have improved about 1 per cent. ; but very little business has Leen doing it, them, and we can do no more than DOIii7C the improvement.
Among the reports of the day, is one that a Turkish loan of 3,000,0001. has been contracted for by a house in the City ; but as the firm in question has not given any notice to the monied interest upon the subject, we believe that the report is withoht foundation.
The Itailtvoy Shares, with the exception of those of the Brighton line, are improving : the bitter are depressed, In consequeece of the Directors having made a further call of 10/., which will become due on the 17th December. SATI'DDAY, TWhINF: The opening price of Comols was 8.81, and there were fbr a short thou buyers at that puke ; hut the market hae sire girt ii tray to 88A both ffir Money and Account, sind has again unproved to the ol'uning price, and the present quota- tion is "for -Money and 88:; ha. As-count. Exchequer Bills are without variation, and are quoted at Is, discount to Is. premium. In the Foreign i‘ha het, the prices are gcsicrtills the saine as yesterday. Spanish Active Stuck has improved 4 per cent., aial from 214 a, the opening price, is now 2IA
t • IfelOan Suer Cents.
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