The Sun.
London, England, 1869-09-06 00:00:00

the market closed dull and unsettled at the lowest prices
of the day.

:Peen the Philadelphia Public Ledger, Alsg.; 18.)

. _
If there is any ono class of projects which always finds
favour in Now Jersey, it is consolidation. The
refitcads of tho State get absorbed in a gigantic corpora-
tion, and combinations are made in every department of
husiness and politics. The plan to unite Jersey City
Hudson City, Hoboken, and a dozen other places into one
great municipality is just now receiving attention. At
first it was treated with some ridicule, but now as it is
considered, the advantages, in a Jersey point of view, be-
come more obvious, and there is every reason to believe
hat when the people come to vote next March, on ac-
cepting the Act of the last Legislature, the scheme will
be carried by a largo majority. The entire district
has a population of about 150,000, so that if the Act goes
into effect, Jersey City will become a city of the first
class in the country, and it will have a commercial
importance vastly overshadowed by that of New York,
to be sure, but very much larger than the other out-
lying city of Brooklyn. It is thought that the change
will greatly enhance tho trade of the consolidated city.
The Susquehanna Railroad war, as far as its appeal to
brute force is concerned, has ceased, but the contest for
the possession and control of the road is still going on, the
lawyers on either side being busily engaged in preparing
for further legal proceedings. The argument before
Judge Peckham has been postponed until the close of tho
present month, and it is thought that the shower of
orders from Albany has ceased. The course that will be
taken by the other side is, of ceurse, unknown, al-
though it is anticipated that Judge Barnard's mill
will speedily grind out something. Many of the
writs of attachment issued by him have failed of
effect, owing to the inability of the sheriff to find
the parties named in his bailiwick. We find cora=
piled the prices of wheat from 1825 to August,
1869, as follows :—ln 1825 the highest price paid for
North River wheat was in May $l. 06 per bushel. In
December, 1827, it reached 1 25 per bushel. In December,
1831, it sold for 1 35. In January, 1838, it sold for 2,
and in December for 2 10. It did not reach this price
again until 1855, when it sold in January for 2 60. In
May for 2 20_ In 1857, the year of the financial crash,
it sold for 195 in July. In April, 1864, it sold for
2 00. In July for 2 73. In December for 3 30. In
May, 1867, for 3 50: and in August, 1869, wheat sells in
Chicago from 1 42 for No. 1 spring to No. 2 white winter
at 1 37. These prices show the fact, gratifying to all,
that we are getting back to the prices for flour which pre-
vailed before the rebellion.

NEW YORK,

Wednesday, Aug. 18, p.m.

The following were the ly
Stocks:—

ids for Now York City Bank

Merchants' Exchange 117
Ocean
Merchants'
Mechanics' l4O
America
Phenix* lO9
Manhattan
Seventh Ward
State of New York
Commerce
American Exchange ll5
Bank of the Republic l2Ol
And the following for Rai
N. Y. Central 6s, 1883... 91
N. Y. Central 6s, 1887... 91
N. Y. Central 6s, R Est.. 89
N. Y. Central 6s, Sub'n.. 89
N. Y:Central 7s, 1876... 961
N. Y. Con. 7s, con. 76.... • 97-
Erie Ist Mort, Ex
Erie 7s, 2d Mort, 1879 96
Erie 7s, 3d Mort, 1883 9O
Erie 7s, 4th Mort, 1880 B2
Erie 78, sth Mort, 1888 77
Long Dock Bonds
Buff. N.Y. St E. lstM, '77 B9
Hurl. R. 7s, Ist M, '69— 99

Irving
Nassau lO6
Commonwealth ll2
Importers and Traders' 1381
Metropolitan
Central National
Fourth National .. 105
Ninth National
Oriental Bank l5O
Hanover
Corn Exchange l3O
Chatham 165
[road Bonds :
Tol. & Wab. 2d M Ex.
,831
Tol. & Wab. Equip 761.
Gt. Western 2d M '93 BO
Mil. & Pr. du Ch. Ist M —
Gal. & Chic. Ext 97
Gal. & Chic. 2d M 95
Chi. & R. I. Ist M 100
Chi. R. I. & Pacific 7's 95
Cleve. & Tol. S. Fund 99
N. J. Central Ist M 99
N. J. Central 2d M 100
Pitts. Ft.W., & Ch. lst M 102
Pitts. Ft. W., & Ch. 2d M. 97
Pitts. Ft. W., & Ch. 3d M. 95
Cleve. & Pitts., 4th M 731
Chic. & Alton, S. F. Inc.
Chic. & Alton, S.F. lstM. 99
Mil. & St. Paul Ist M 101
Mil. & St. Paul 2d ff._ 861
Marietta & Cin. Ist M 9O
Morris & Essex Ist M 9Bi
Morris & Essex 2d M... 92
Joilet & Chic. Ist M...
Chi. & Gt. East'n Ist M B3
N. Y. &N. 11. 6s .. ... 36i
Dubuque &S.City,lst M 9l/
Peninsula Ist M 9O
Ohio & Miss. Ist M 92
Ohio & Miss. Con B2]
Tol. P. W. Ist M. E. D B3
Atlantic & G. W. 2d M —

ud. R. 7s, 2d M; 'B5-1021

Harlem Ist M, '6B '72 101
Mich. C. Ist M, 69'72 l3O
Mich. new Ist M Bx,'B`2
Mich. So., 7p. c. 2d M 93
N. Ind. Goshen Line '6B
Mich.S.&N.l.S.F'd7p.c. 97
111. Cen. 7 p. c, '7O 120
Alton & H Ist M 9l
Alton &T.H. 2d pfd 81i
Alton & T. H. 2d M. Inc. 76
Han.& St.J.LandWrntslo7i
Han. & St. J. Con
Chi. B. & Q., Ist M 108
Chi. & N.-West, S. Y 921
Chi. & N. W. Con Cony 95
Chi. & N. W. Int B 9O
& N. W. Ist M 9O
QUOTATIONS
Amer. silver... 961 to 97
Mex. d011ar5...1041 „ 103
Eng. silver 475 , 480
Five francs 96 „ 97
FOREIGN

FOR SPECIE.

Eng. soya 486 to 488
20 francs 386 „ 388
Thalers

EXCHANGE.
itiisty Days.
. 109/-110
. 1139-1-109 f
.5.18-5.13/ 5.13/-5.1

Threo Days.
1101-110}

London Bankers
London, Prime Commercial
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers
Frankfort, 031 .
Berlin and Cologne
Antwerp
Amsterdam, Bankers
Swiss

781-79
—35 i
40-1--40 f
5.181-5.131
, 401 —4of
,5.181-5.131
RAILROAD AND MISCELLANEOUS STOCKS.
Fort Wayne
Pacific Mail B4
Atlantic Mail
Quicksilver
W. U. Telegraph
Mariposa Preferred
Ohio and Mississippi 32
Boston Water Power l5
Cumberland
Bankers and Brokers
M & St. Paul
M & St. Paul Preferred 90

N. Y. Central 2OBl
Erie
Hudson .. lB3
Reading
Mich. Central ... 131

Illinois Central
Cleveland & Pittsbrg lO7l
North-West
North-West Preferred 971
Canton 59
Rock Island
Cleveland and Toledo

Messrs. Drexel and Co., the Philadelphia bankers, report
as follows on Aug. 18 : Pennsylvania Railroad shares, 57
571 ; Sixes, Ist Mortgage, 98 98i ; Sixes, 2d Mortgage;
971

(Franz Henry Clews and Co.'s Monthly Circular.)

NEW Yonx, Aug. l(

The gold premium exhibits a decided weakness. The ,
decline from 137, at the date of our last advicos, to 133-3-
to-day, and the continued weakness of the market, even at
the reduced figure, are due, to a large extent, to the dis-
appointment of expectations based upcn the course of our
foreign trade. For some months past there has been evi-
dent a large excess in the imports of the country over its
exports ; and Government statistics just issued show this
course of our foreign trade to have resulted in a balance
against us of $97,000,000 in gold, for the fiscal year end-
ing June 30, 1869 ; adding to which, say $65,000,000, for
interest due on our securities held abroad, we should have
a total indebtedness uncovered .by exports of produce or
specie of over $160,000,000 in gold. The fact of our
foreign exchanges having taken such an irregular and
apparently threatening course naturally induced the ex-
pectation of an unusually heavy export of specie during
the summer months; but, so far from this anticipation
being realized, the whole shipment of specie from this
port, from the Ist of January to the 14th of August,
has amounted to only $24,200,000, against $63,200,000
for the corresponding period of 1868. This very
unexpected result has demonstrated that the exports of
bonds and other securities, within the past twelve months,
have far exceeded the estimates or oven what was sup-
posed possible. The low rates of interest in Europe, and
the high rates obtainable here, have induced an extensive
borrowing by New York capitalists abroad ; and these
loans have, for the time being, set off our accruing in-
debtedness. The disappointment of these calculations of
a heavy shipment of specie has left the market free to re-
spond to influences which have a legitimate tendency to
depress the premium ; while, under the circumstances,
the supply cf gold on the market has naturally increased,
the amount of gold deposited in the Treasury against
certificates being, on August 1, $30,700,000, against
$22,400,000 at the same date of last year. The improving
condition of the national finances has very naturally en-
couraged the expectation of a more or less permanent re-
duction in the premium. The revenues have largely in-
creased, not from the imposition of heavier taxes, but
from a more faithful collection, and from the improved
condition of trade, while the materials have been mate-
rially curtailed ; the result being a very large surplus in
the Treasury, which the Government has no alternative
but to employ in the purchase of so much of the
public debt; and the consequent improvement in the pub-
lic credit finds a corresponding expression in the reduction
of the gold premium. At present the crop prospects are
in favour of our being able to export a much greater value
of produee,than last year. The grain harvests of Europe,
according to the latest accounts, are deficient ; while ours
is likely to leave us an unusually liberal surplus. The
stock of cotton throughout the world is very low ; and
yet the Southern crop now gives reasonable promise, the
picking season proving favourable, of a yield of 2 to 3
millions of bales. And while our exports, for the next
year, promise thus well, our current imports aro upon about
the same scale as a year ago. The inference, from present
indications therefore is that our foreign trade movement,
for the next few months, is likely to be regulated upon a
more conservative basis than during the past fiscal year.
The Stock llarlitt is at this moment unsettled, owing in
part to the competition of the trunk roads for freights at
nominal charges. There is beyond this, however, a some-
what general disposition to discount the probabilities of a
close, not to say stringent, money market during the next
few weeks. There appears to be little doubt that the
roads generally will have liberal earnings from moving the
abundant crops of the country; but misgivings aro felt
as to whether the condition of the loan market may
favour a corresponding speculation for higher prices in
stocks. Very large amounts of stocks are being car-
ried by a few prominent speculators, and in some
cases at prices which do not command confidence. The
consolidation schemes lytve had their full effect in
inflating values, and the holders of such stocks now wait
an opportunity for unloading upon the market ; the con-
sciousness of which makes operators cautious about par-
ticipating deeply in any movement for a rise in prices.
These circumstances combined produce a predominant