The Sun.
London, England, 1867-02-25 00:00:00

COMMERCIAL.

Money continues easy in Now York, though the rate in
the West is becoming stringent. Call loans here can be
obtained on Government collaterals at 6 per cent. down to
5 per cent., but 7is asked on other security. The best
business paper is discounted at 7to 8 per cent. Although
gold has fluctuated a little, yet it has been on the rise.
The closing price was 137 i. Last Saturday $418,000 were
exported to Europe. Tho main feature is the growing
strength of the Five-Twenties, and both the issues, 1862
and 1865, are very strong.
The Treasury department reports the following statistics
for last week :—Fractional currency printed $156,108, de-
stroyed $320,100, disbursed $473,193; national currency
issued $119,240, making $298,719,504 in circulation ; dis-
bursed for the war department $2,160,023, for the navy
$333,229, for the interior $179,291. The disbursements
for these departments in January were, respectively,
$8,579,012, $3,781,027, and $1,251,699. The revenue re-
ceipts last week were $5,828,587, making the total since
July 1, $186,958,599. Tho present receipts fall largely
below the estimates.

The exports from Now York (exclusive of specie) for
the week and year were $2,881,102 against $5,917,007, and
$1(3,789,651 against $23,322,613.
The year 186 G has been a disastrous year to fire insur-
ance companies. If losses continue as heavy a further in-
crease in the rates will be necessary, if the companies
are to sustain themselves. At Chicago the rates
have been doubled within the last few months. Many
New York companies are endeavouring to reduce their
capital—some are winding up—and all aro under a black
cloud. Dry goods are looking better, and tho future is
more hopeful. Business has increased, and the spring
trade promise Well. Stocks closed active. American
gold touched 1 71. l l vicktt At_l37l, United ktates Five-

Twenties (1862) 1081 (1864) 1061 (1865) 1074 to 1071,
(1865, new issue) 1951, United States Ten-Forties 100;
United States 7 3-10 loan 1054 to 1051 Missouri Sixes 94
to 95, Virginia Sixes 59, New York Central Railroad
1021, Erie 591 Erie Preferred 734 to 75, Hudson River
1291, Reading 103 i, Michigan Central 1084, Michigan
Southern and Northern Indiana 75, Illinois Central 1144,
Cleveland and Pittsburg 844, Cleveland and Toledo 120,
Chicago and North Western 38, Chicago and North Wes-
tern preferred 684, Pittsburg, Fort Wayne, and Chicago
981, Chicago and Alton 1144, Alton and Terre Haute 32,
Chicago and Rock Island 99, Adams Express Company 66,
American 65, United States G 7, Wells, Fargo, and Co.'s
694, Merchants' Union 13, Western Union Telegraph
Company 414, Pacific Mail Steamship Company
1584 to 160, Atlantic Mail Steamship Company 103,
Cumberland Coal Company preferred 36 to 38, Canton
Company 444, Quicksilver Mining Company 394, Mariposa
Mining Company preferred 224, Boston Water Power Com-
pany 27.

The return of the public debt, which I give below,
showing a material reduction in the receipts of tho Govern-
ment, bears testimony to the stagnation of business. This
is the first return since we fairly got rid of the actual war
expenditure, which shows an increase instead of a de-
crease in the nett indebtedness. Though the sum is not
large, amounting to $24,574, yet it is a bad sign. The
Stock Market continues very feverish, and even more than
ever uncertain. Every rumour, however absurd, excites it.
The attempts to produce an advance are abortive, for the
market is intrinsically weak and declining. The greatest
fluctuations have occurred in Erie Railway Shares, which
have ranged from 52 to 65 on the reports that the earnings
for January will show a falling off of some $'225,000.
The receipts of the New Jersey Railroad in 1866 wore
$1,770,862, and the running expenses $981,817, leaving a
profit of $789,014. The receipts of sixteen western rail-
roads were $74,077,621 last year, against $76,339,135 in
1865, a decrease of $2,270,514.—1n January the Chicago
and North Western Railroad earned $690,831, an increase
of $105,242.
The statement of the public debt on the Ist of February
is as follows :