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

MONEY AND BUSINESS.

(From the New York Tribune.)
WEDNESDAY, Aug. 18.
Gold opened at 132 f, sold at 133, 134 133/, closing at
133/ to 133 f. The clearings at the Gold Exchange Bank
were $85,221,000, and the balance $2,413,599 31. The
Government was unable to purchase the $2,000,000 bonds
authorized by the Secretary cf the Treasury to-day in
cunsequence of the light offerings, which amounts to
only $1,136,200. The Assistant Treasurer took all that
was offered, and will receive proposals for the balance
($863,800):to-morrow. The market was dull until the pro-
posals were opened, when there was a sharp rally of to
14 per cent. in prices, with an active demand for all
classes. The stock of floating bonds on the market is
very light, and investment holders appear unwilling to
sell at present prices. Considerable sales have been
made for speculative account., based upon the decline
in gold. As it was anticipated that this decline would
bring out large offerings of bonds from investment
holders, this has had the effect of creating a large short
interest that must be supplied in a great degree from in-
vestment holders, as the Government will take nearly
all the bonds now in the street during the present month.
At the close the market was bouyant, and at an advance
of to 11 per cent from the lowest prices of the day. State
bonds were dull and steady. New Tennessee 6 per Cents
sold at $5ll 52 ; Virginia New 6 per Cents, $6O ; North
Carolina New 6 per Cents, $5O; North Carolina Special
Tax 6 per Cents, $55 551; Georgia 7 per Cents, s9li 92 ;
Missouri 6 per Cents, sB6i 87 ; Louisiana 6 per Cents,
$72 ; California 7 per Cents, $126 127 ; New-York State
Bounty Loan, $lO9l. Railway bonds continue in demand
for investment. Bank shares were steady ; Fourth Na-
tional sold at $lO5 ; Bank of Republic, $121; American
Exchange, $ll5 ; Tenth National, $lO7. Miscellaneous
shares were dull ; Wilkesbarre Coal sold at $65 ; Delaware
and Hudson, $127 ; Pacific Mail was excited, selling at
$B5/, 81f, 83i, closing at $B3. The directors of the
company have declared the usual quarterly dividend of
3 per cent, payabl) September 1. The transfer books will
be closed on the 20th instant, and reopen September 2.
The railway share market was dull, with the exception
of Toledo and Wabash, which changed hands in large
amounts at prices ranging from 771 to 79, finally closing
at. 73 to 781. The Vanderbilt stocks wore dull and weak. '
the delay in perfecting the consolidation scheme has
checked operations, and the transactions were unusually
small. Michigan Southern was steady at 100, to 106. The
North-Western and St. Paul shares were dull at a frac-
tional decline. Fort Wayne sold at 1514.; Chicago and
Alton, 157 ; Chicago, Burlington, and Quincy, 195 ; Dela-
ware, Lackawanna, and Western, 1111,-; New Jersey Cen-
tral, 106 ; Morris and Essex, 88 to 871 ; New York and
New Haven, 1.45; Dubuque and Sioux City, 111. The
street continues to be deserted by the heavy operators
\vim usually manipulate the market, and there is an en-
tire absence of any largo movement in the stock or Go-
vernment bond market at present. At the second call
prices were steady, but without activity. Aftter the
Board there was more activity, and prices advanced from
1- to por cent. on the general list. The rally was
only temporary, however, and at the close of business