The Sun.
London, England, 1867-12-25 00:00:00

NETT' YORK MARKETS.

(From the Correspondent of the Anglo-American Times.)
1 regret to report that failures rapidly follow each other
—adding to the insecurity, and the general depression.
The wholesale grocery house of Bentley, Burton, and Co.,
14 and 16, Beaver-street, has stopped ; also the China
House, Westray, Gibbs, and Hardcastle, the liabilities of
the former being more than a quarter of a million dollars.
Among the eleven that suspended on Wednesday were
several of minor importance ; David Talmage and Co.,
rico dealers, being of the number. Philadelphia still con-
tinues to suffer, John H. Williams and Co., dry-goods,
being added to its list. At Boston the failed housss are
not of importance, and consist chiefly of dry-goods. The
feeling of hope which till lately prevailed is dying out,
and people fear that they will have to pass through a panic
before they can realise the favourable change anticipated.
On call, money is sufficiently plentiful, at 7 per cent., but
discounts cannot be so readily obtained, and rule at 7- to
10 fot the best names ; and it is only that class that finds
any market. There are heavy demands at the West for
the pork trade, and the result I anticipated on the canals
has come to pass, and an immense amount of produce of
all sorts is frozen up at various points. The President's
Message and Mr. M'Culloch's report were anticipated, and
have, therefore, produced little effect in Wall-street. The
point most discussed in the Secretary's Report is his pro-
position for the consolidation of the National Debt by the
issue of 6 per cent. Bonds open to the Government to
repay at 20 years, 1 per cent. being retained for the pay-
ment of taxes, which virtually reduces it to a 5 per cent.
Loan. It is believed that the temptation is not sufficient
to induce holders of the Bonds now issued to make
such a change. Tho more favourable anticipations
Mr. M'Culloch once entertained do not figure so
prominently in his present report. Up to July 30,
1869, his estimated surplus to be applied to the pay-
ment of the debt is but $32,800,000. Even this is re-
garded as doubtful in the presence of reduced taxes, some
articles being relieved entirely. The 7-30's are still being
converted, and the exchanges now amount to $66,500,000
since Oct. 15. The January coupon is cut off the bonds
now being delivered. It is felt here that finance is the
great question of the day, and one of so serious a nature
that Congressmen will be compelled to give to it undivided
attention, and cease their reconstruction wrangles and ex-
periments. Gold has been declining, and closed yesterday
at 137 i, being a rise from what it was in the early part of
the week, when it touched 136 i. The speculators who
purchased so largely in anticipation of the Congress im-
peaching Mr. Johnson have been on the wrong tack, as the
tendency is clearly downwards. The market is further
depressed in anticipation of large payments due January 1.
The heavy shipments of treasure front San Francisco to
China and Japan affect our receipts and exports, and the
steamers to Europe carry little bullion from New York.
The railroads and miscellaneous markets remain
sluggish, although some of the lines, more especially
those of the west, have been makir g good profits.
Consolidation is now the work most actively carried
out. The four rival Express Companies it is de-
finitely announced will amalgamate, though this is
dlnied. Yet it is admitted by all that a plan has boon
agreed on for a tariff of rates which will pay the pro-
prietors at the public expense. Next week the election
will take place of a President and Board of Directors of the
Now York Central, which will be controlled by Commo-
dore Vanderbilt, and his nominees will be elected. The
Erie has declared a dividend to be paid on the Ist January
of 7 per cent. on its Preferred Stock, and it is expected that
all its shares will realise that amount under a more honest
management. The squabble between the Pacific Steam-
ship board and the shareholders has been made up. An
opposition has come into the field in the North American
Steamship Company. Their first vessel, the Nevada, has
arrived at Panama, and the Nebraska left New York on
the 25th ult., which will land passengers to proceed by
the Nevada to San Francisco. The company announce
that their line will soon be complete on the Pacific as well
as on the Atlantic side, when they will run every 20 days,
and their rates will always be lower than those of any
other line. The stock has been rising, reaching 121, not
much more than the lowest point lately touched by
the old established and powerful company. The Express
Companies may find an opposition in the railways. The
line from Boston to Nashua, New Hampshire, announce that
it will carry and deliver parcels from Jan. 1, and the example
will be followed if successful. The latest quotations are
as follows :—Adams 82f to 821, American 801 to 81, United
States 821 to 83, Wells, Fargo, and Co. 541 to 55, Mer-
chants Union ($33 paid) 401 to 41. American silver is 5
to 6 cents below gold, and Mexican dollars 1021 to 103 in
gold. Petroleum stocks are active, but mining continue
dull. Foreign exchange is stronger, and more business
doing. Government Securities are weaker on the fall of
5-20's in the London market. They closed at about
lower, at 1071 to 1071. As you inform me you can get
fuller quotations from the Wall-Street Journal, I will
henceforth omit them.

(From the Wall-Street Journal, Friday evening, Dec. 6.)
Sixes, 1867, 141 1411 ; Sixes, 1868, coupon, 138 1381;
Sixes, 1881, coupon, 1121 1121 ; Five-Twenties, 1862,
coupon, 1071 1071; Five-Twenties, 1864, coupon, 1041
1041; Five-Twenties, 1865, coupon, 1051 1051 ; Five-
Twenties, 1865, coupon, new, 1071 1071; Five-Twenties,
1867, coupon, 1071 108 ; Ten-Forties, coupon, 1011 1011;
Seven-Thirties, 2d series, 1011 1011; Seven-Thirties, 3d
series, 1041 1041.
The following are the railway and miscellaneous stocks :
—New York Central 1141, Erie 711, Hudson 1251, Read-
ing 951, Michigan Southern and N.I. 801, Illinois Central
1341, Cleveland and Pittsburgh 821, North-West 641,
North-West Preferred 661, Canton 444, Rock Island 951,
Cleveland and Toledo 1021, Fort Wayae 971, Pacific Mail
122, Atlantic Mail 113, Quicksilver 161, W. U. Telegraph
321, Mariposa Preferred 13, Ohio and Mississippi Certifi-
cates 231, Boston Water Power 17.

The following for the ow York City Bank Stocks :
Merchants, 186 ; America, 138 ; City, 200 ; Now York,
132 ; Manhattan, 135 ; Mechanics, 120 ; Union, 114 ;
Phenix, 104; Tradesmen's, 133; National, 103; Merchants
Exchange, 110 ; Seventh Ward, 110 ; State of New York,
105 ; Commerce, 116 ; Ocean, 103 ; American Exchange,
1121 ; Bank of the Republic, 111; Bank of North America,
109 ; Mercantile, 118 ; Mechanics' Association, 110 ;
Broadway, 235; Hanover, 109; Irving, 106; Metropolitan,
130 ; Peoples, 135 ; Market, 110 ; Nassau, 103 ; Shoe and
Leather, 112 ; Corn Exchange, 122 ; Continental, 102 ;
St. Nicholas, 102 ; Commonwealth, 104 ; Importers and
Traders, 116; Central National, 1031; Fourth National
1161 ; Ninth National, 104 ; Park, 148 ; and Oriental
Bank, 135.

Subjoined is the total amount of gold certificates issued
and redeemed by the Sub-Treasury, together with the
outstanding balance on the 20th May and at subsequent in-
tervals :

Issued. .Rodoeinoil. Outstanding.
203 5333,900 $206,600 $127,300
10Js 5,321,000 3,753,400 1,562,600
500 s 1,161,500 511,110,) 625,5'10
I,ooos 26,1165,000 21,859,000 4,206,000
5,0006 159,675,000 140,130,000 19,515,000
10,0008 5,000,000 5,000,000

Slay 18
May 27
June 1 200,092,100 174,475,000 25,617,100
June 22
June 29
July 6
July 20
July 27
Aug 3 213,104,220 185,466,000 28,638,220
Aug. 10
Aug 17
Sept. 7.... 216,174,580 191,284,000 24,910,580
Sept. 14
Oct. 30 225,519,920 198,816,000 26,703,920
Nov. 9 229,999,280 200,123,000 99,176,280
Nov. 23
Nov. 30