The Sun.
London, England, 1867-04-08 00:00:00

COMMERCIAL.

The wide margin between the rate at which money can
be obtained on good security, and that on securities not
long ago considered fair, shows the discredit into which a
large class of shares has fallen. Speculators for the rise
borrow almost at any rate, in preference to sacrificing their
securities at the prices that now rule. Gold has been
steady, with a slight downward tendency. The dealings
in gold have been conducted wtth the utmost cau-
tion, as people distrust the future of the market.
There are those who predict a much heavier fall than has
yet occurred, and there is nothing in political affairs to in-
dicate a rise, while the accumulation of bullion in both the
Banks of England and France shows that there is little
chance of a foreign demand. It is known that over a hun-
dred millions of dollars are in the Treasury at New York,
while the receipts from the Customs is large and increas-
ing. Government Securities continuo in favour. They
declined a little, influenced by the fall in gold, but rallied,
and closed strong. The demand in Paris has a good effect.
I see by the circular of Bowles, Brevet, and Co. that they
alone remain unaffected by political rumours and under in-
fluences affecting the Paris Bourse. The Stock Market is
excited, and has fallen again into the hands of speculators,
who have by combination run up some descriptions, more
especially Erie Railway Stock. There are unfavourable
rumours of the Pacific Mail Steam Company, and it is
t published,hai was
anticipated.
and will
stated
show the
things condition
in
a moforietsfatauirrsabwle liiligh't

NEW YORK, March 23, 1867.

Money continues easy, and gold closed at 1341. The
imports continue to be in excess of the exports. The
total shipment was last Saturday $237,744, and on
Wednesday $4,536. The conversion of 7-30's into
5-20's is continued at about a million of dollars
a day. The adjournment of Congress is likely
to affect favourably Government Securities, for people live
in dread of some erratic financial bill. Now it is an ex-
pansion of the currency, then comes a contraction, and
the insecurity of what may be done enables speculators
to play upon the public. Railway shares aro rising. New
York Central is stronger; the Cleveland and Pittsburg
gives a half-yearly 4 per cent., and 5 is the dividend for
the Chicago and Rock Island for the same period; while
the Pittsburg, Fort Wayne, and Chicago distribute 21 for
the quarter. On the whole, though the market for Stocks
and Shares, trade prospects do not partake of the revival,
and continues dull oven with the opening spring. A large
dealer in cotton and print goods has failed.
American gold 1341, United States 5-20's (1862) 1091,
(1864) 107 L (1865) 1071, (1865 new issue) 1071, United
States 10-40's 971. United States 7 8-10 Loan 106,
Missouri Sixes 96, Virginia Sixes 57, New York Cen-
tral Railroad 1051, Erie 581, Erie (preferred) 74, Hudson
River 1381, Reading 1011, Michigan Central 1081, Mi-
chigan Southern and Northern Indiana 75, Illinois Cen-
tral 1151, Cleveland and Pittsburg 791, Cleveland and
Toledo 1191, Chicago and North Western preferred 641,
Pittsburg, Fort Wayne, and Chicago, 961, Chicago and
Rock Island 961, Ohio and Mississippi Certificates 261,
Western Union Telegraph Company 411, Pacific Mail
Steamship Company 1231, Atlantic Mail Steamship Com-
pany 831, Cumberland Coal Company Preferred 35, Can-
ton Company 461, Quicksilver Mining Company 37, Mari-
posa, Milling Company 81, Mariposa Mining company Pre-
ferred 221, Boston Water Power Company 251.

(Front E. F. Satterthwaite and Co.'s Weekly Circular,
April 3.)

By our advices from Now York, per the Cuba, to the
20th ult., we learn that there had been a good demand for
Government sectulties at slightly furor quciations the