The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1840-11-03 00:00:00

JOURNAL OF THE MONEY MARKET,

THURSDAY EVENING.—The improvement in prices at
Faris, and the prospect of a peace administration there, na-
turally re-acts upon this market. But it may be observed
that, as in the fall, so in the reaction, the funds here are by
no means so susceptible one way or the other as those of
Paris. For the 1 per cent. fall or rise in Paris, the corre-
sponding movement here is scarcely above one fourth. This
results naturally from the fact that the crisis touches France
more nearly than this country. Consols to-day cautiously
reached 871 buyers for money, and 871 to 1 for account.
Bank Stock 160 to 1. India Stock 242 to 4. Exchequer
Bills 4s to 2s discount.
FRIDAY EVENING.—ConsoIs for money advanced to 871
to I, and for account to 88 to 1. Bank Stock 160 to 2. Ex-
chequer Bills 3s. to ls. discount. The half monthly settle
ment of the account was opened to-dar in the Foreign Mar-
ket. There was no feature of importance about it. The
favourable intelligence referred to yesterday had a corres-
ponding effect on the securities of those Spanish American
states to which it related. Chile Bonds rose to 50 buyers.
Colombian, after reaching 24 settled down at 23+ to 1.
Mexican 27 to 4. Brazilian were 73 to 5. Dutch two-and-
a-half per cents 50 to 4, the five per cents 95+ to 4. Belgian
37 to 9. Spanish active with the coupons 211 to 4. Portu-
guese five per cents 321 toil, the three per cents 481 to 1.
SATURDAY EVENING.—By the accounts from Liverpool
it appears that the restriction of discounts by the branch of
the Bank of England in that place, acting on the orders from
home, has become extremely rigid ; so much so, that one
of the richest private bankers was refused discount for bills
having only a few days to run. The joint-stock banks in
Manchester have raised their rate at 6 per cent., and are cur-
tailing accommodation as much as possible. The private
bankers are more free in their loans, but demand a still higher
rate, 7 per cent. having been given on the best bills, having
three and four months to run, of the merchants and manufac-
turers, and endorsed by the joint-stock banks. This has
proved, however, a great relief, and the terms have been
readily submitted to, so essential is a supply at this time for
the autumnal trade. Among parties of a lower class of credit
the pressure has, of course, being very severe, and as high as
10 or 12 per cent. has been given on bills that would be
termed good at any other time, but not bearing a banker's
endorsement.
A great number of short bills have been sent up by the
joint-stock banks to the London bill-brokers for discount.
Long bills they refuse to discount on account of the late
Bank notice. Some bills were refused by a broker at a dis-
count of 6 per cent. and + per cent. commission.
In the English funds a good deal of business was transacted
to-day, and among the bargains closed in consols were seve-
ral purchases, ranging from £25,000 to £60,000 for invest-
ment. Business like this could not fail to support the
market, which ultimately closed very firm at about yesterday's
prices—namely, consols for money 871 to and for the
account 88 to 8. Bank stock closed 160 to 162 j India stock
243 to 245 ; and Exchequer bills 3s. to Is. discount.
The foreign stocks have been in a comparatively passive
state, and prices have not materially varied. Russian is firm
at 110 to 111 ; Spanish, 211 to 1 ' • Portuguese 5 per cents,
321 to 33; Dutch 21 per cents, 50 to 4; Colombian, 23+ to
; and Mexican, 27 to 3 ; Chaim' is quoted at the advanced
price of 521.
Shares of all descriptions remain much the same. Great
Western are 13 to 15 premium ; Birmingham, 66 to 68 pre-
mium ; North Midland, 24 to 22 discount : righton, 134 to
134 discount; and Blackwall, 54 to 4 discount.