The Sun.
London, England, 1867-09-07 00:00:00

attendance, and Professor J. S. Newberry, of New York,
was elected to preside. The papers read on the first day
wore numerous and on a wide range of subjects. Professor
Simon Newcomb, of the Naval Observatory at Washing-
ton, read a paper on the distance of the sun, which he
placed at about 92,340,000 miles, and Professor E. W.
Horsford, of Harvard College, gave an elaborate explana-
tion of the difference between fresh and stale bread, and
showed the unsatisfactory character of previous the-
ories on the subject. He demonstrated by a prac-
tical experiment that the cause for bread being so
stale is the absorption of the moisture by the
gluten, and that when moisture is applied to stale
bread it is also driven from the gluten, and the bread again
becomes pleasant and palatable. On Thursday about 100
members were registered. Remarks were made by E. B.
Elliott, of Washington, on the relative value of gold and
silver coin for a series of years, and Professors Caswell,
Hilgard, Whittlesey, and Newberry followed on the same
subject. Professor James Hall, the New York state
geologist, presented a paper on the geological relations of
the mastodon, the fossil elephant of North America, which
was discussed by many others. The association has
elected Mr. Davison, of MUM College, Montreal, chair-
man.

A company at Waterbury, Connecticut, is manu-
facturing one and two cent coins for the Peruvian Go-
vern ment.

By the Peninsular and Oriental Company's
steamship Euxine five vessels are reported as having ar-
rived at Algesiras from Callao laden with guano. Among
them the American ship Eastern Star, Curtis, 133 days;
the America ship Sabina, Mitchell, 126 days ; the American
ship Florence Treat, J. Short, 120 days ; and the American
ship Baden, J. Stelfer, 95 days.

COMMERCIAL.

NEW YORK, SATURDAY, August 24.

Gold has been firm, and business has been done at an
advance of nearly 1 per cont. On Thursday the market
closed at 1401. The shipments of specie for Europe have
been the lowest known for some time. Last Saturday the
amount was $185,000. The imports for California have
also been on a reduced scale. The receipts for cestoms,
on the other hand, have been large, averaging nearly
$500,000 per day. That amount is likewise the average
sales of gold each day by the Government, which tends
to check speculation, and prevent an undue influence being
exercised by the ring. There is a slight advance in
foreign exchange ; bills on London at sixty days being
negotiated at 1094 for gold. The aggregate of the ex-
ports of gold and silver for this year since the Ist of
January is less by nearly twenty millions of dollars
than for the corresponding period last year, which may in
a great measure be accounted for by the increased export
of 5-20 Bonds. The demand for these securities is on the
increase, and their price continues high. If they increase
in favour in Europe they will take the place of specie for
export. The first series of 7-30 notes, July 15, 1864, have
all been funded or converted into 5-20's, except about
$20,000,000, which must come in before the 15th Septem-
ber. The internal revenue for last week amounted to
$3,264,910, and for the fiscal year to date $36,028,625.
There is a stronger demand for money, consequent on'the
movement of the crops. The supply at Chicago is not
sufficient for the need of borrowers, and there is a prospect
there of stringency. Here call loans can be nego-
tiated on Government security at 3 to 4 per cent.,
and the best business paper at 6 to 7 per cent. A
great effort has been made to influence the market by pro-
mulgating rumours of awful dishonesty in the Treasury
Department at Washington. It is worthy of notice that,
although well concocted, and containing the most circum-
stantial statements, these reports have been wholly inef-
fectual to secure their object. They produced no excite-
ment and no perceptible change. The stock market,
although active, is scarcely so strong, and the fluctuations
have been considerable. The rise has no doubt been in-
fluenced, more especially in railways, by the low price of
money and the prospect of increased earnings on the
movement of the crops. A rise in the rates of discount
would have an unfavourable effect, and as the tendency is
to higher rates, it is doubtful whether the bulls may not
be wrong in holding for a rise. Erie stock has slightly
declined, and is below 70. Permanent investors dislike
these rapid changes, and the stock is unfavourably
affected in their eyes by these unaccountable fluctuations.
Although the harvest is ended, and the crop secured,
grain has not fallen as anticipated. The present high
rates cannot long be maintained, but the farmers, millers,
and speculators keep up the price as long as they can, in
which they are assisted by the easy rates of money. Tho
cotton crop slowly comes to market; some of Alabama
growth, classed as "good middling," was sold last Mon-
day at 33c. a pound. I give the following as among the
latest quotations:—

Gold 1404 United States Five-Twenties (1862) 1131,
(1864) 109, (1865) 109, (1865, New Issue) 1101, United
States Ten-Forties 991 1021, United States 7-30 Loan
1071, Missouri Sixes 1021, Tennessee Sixes 66, Virginia
Sixes 50, New York Central Railroad 1041, Erie 684,
Erie Preferred 78, Hudson River 1231, Reading 103 f,
Michigan Central 1091, Michigan Southern and Northern
Indiana 801, Illinois Central 1181, Cleveland and Pittsburgh
92, Cleveland and Toledo 123, Chicago and North-Western
45, Chicago and North-Western Preferred 681, Pittsburg,
Fort Wayne, and Chicago 1031, Chicago, Rock Island, and
Pacific 1021, Ohio and Mississippi Certificates26l, Western
Union Telegraph Company 42+, Pacific Mail steamship
Company 1401, Cumberland Coal Company Preferred 35,
Canton Company 46, Quicksilver Mining Company 274,
Mariposa Mining Company 101, Mariposa Mining Com-
pany Preferred 181.