The Sun.
London, England, 1867-08-31 00:00:00

was 140 i. The bulls are confident of a rise, as they con-
sider they may be able to extract some capital from the
Cabinet differences before they are arranged. The
Government sells about $500,000 a day. The export of
specie has greatly fallen off, the steamers on Saturday last
taking $360,847, and on Wednesday under $200,000.
Exchange on London continues at 1091 to 110 in gold for
60 days. There has been more activity in the Money
Market during the past week. This is to be expected to
satisfy the demand for the harvest, and it is surprising,
considering former experience, that the movement should
be so slight. Indeed, people do not now look for any
stringency, and there is more prospect. of a difficulty in
investing money than of obtaining to those who
have good securities. The best commercial paper is
readily discounted at 6 per cent., and call loans on
Governments are done at 4. People hold back for invest-

ment, in hopes of higher rates. Even Government Secu-
rities would at the present figure yield a better return.
This miscelleanous Stock Market is heavy, for want of
business; scarcely anything doing. Prices, however,
have rather tended upwards, and generally a rise is looked
for. As might confidently have been predicted the railway
earnings show a largo rise to the beginning of August ;
the passenger traffic, while all are on the road, must neces-
sarily increase the receipts, and no doubt the month will
give gratifying returns. There is, however, a decrease in
the receipts of the Erie, though the stock sells at 71 to 72
and is in demand. Express Stocks are well sustained.
Business and trade is healthy, though still inactive, with
hopes of improvement. The dry goods market is better,
though no large purchases are made or can be expected at
his season. The quality of the wheat harvest is univer-
sally good and the quantity large, and the receipts at
Chicago and other large entrepots considerable. Cotton
is coming in, and the price declining at New Orleans.
Altogether the long inactivity has had the effect of placing
trade on a sounder basis; and if Mr. M'Culloch would re-
sume his relemption of four millions of the currency
monthly, as authorised by Congress, we might fairly ex-
pect soon to get back to a more healthy state. As the
Secretary of the Treasury seems, from the opinions he has
expressed, to hold this opinion, I cannot understand why
ho does not now act on it. The Treasury has extended,
by a special order from the Secretary last Tuesday, the
period for the exchange of the 7-30's and 5-20's for a
month. After that time interest on the 7-30's will cease,
and on the exchange being effected the holders will have
to pay interest on the 5 20's at the rate of 6 per cent. The
rate of exchange proceeds at about a million a day. The
following are the latest quotations :
Gold 140 i, United States Five-Twenties (1862) 102/,
(1864) 110, (1865) 1101 (1865, New Issue) 108 f, United
States Ten-Forties 1021, United States 7-30 Loan 1071
Missouri Sixes 103, Tennessee Sixes 66, Now York
Central Railroad 105 k, Erie 701, Erie Preferred 79, Hud-
son River 124, Reading 1041 Michigan Central 1101, Mi-
chigan Southern and Northern Indiana 811 Illinois Central
119;, Cleveland and Pittsburgh 931, Cleveland and Toledo
124, Chicago and North-Western 461 Chicago and North-
Western Preferred 70k, Pittsburg, Fort Wayne, and Chi-
cago 106, Chicago, Rock Island, and Pacific 1021, Ohio and
Mississippi Certificates 271, Adams Express Company 74,
American 73}, United States 76, Wells, Fargo, and Co.'s
67k, Merchants' Union 181, Western Union Telegraph Com-
pny 45/, Pacific Mail Steamship Company 1461, Cumber-
aland Coal Company Preferred 35k, Canton Company 491,
Quicksilver Mining Company 32, Mariposa Mining Com-
pany 10/.

(Front Messrs. Bowles, Drevet, and Co.'s Circular.)
Paris, August 30, 1867.

The market continues dull and stagnant, and in spite of
the groat abundance of money transactions in all securities
are very limited, with almost daily decline in quotations.
To the existing fear of political complications is added
in the case of American Bonds the news of advance in
gold reported from New York, from which point our dates
are to the 27th inst. :
Gold ....................................
141
U.S. Bonds (1862) ..................1131
In United States 5-20 (1862) prices have receded from
83 7-16ths, reported in our last, to 83, the closing rate on
the 29th.

The Rente closes at ............... G 9 28
The Italian closes at ............ 48 80
Exchange on London ............. 25 20i

(From E. F. Satterthwaite and Co.'s Weekly Circular Aug.2B.)
Tho advices from New York by the China, to the 13th
inst., report a steady market on the Stock Exchange for
all kinds of securities. Government bonds were in steady
demand, and full rates were maintained. The Secretary
of the Treasury had issued a notice that the time for con-
version of 7.30 notes (falling due on the 15th of August)
into 5-20 Bonds would be extended to the 15th of Sep-
tember, after which date they would be paid off in cur-
rency. Railroad stocks were scarcely so well supported,
but the alterations in quotations were trifling. Railroad
bonds and State stocks were well taken, at former rates.
Gold daring the w3ek had remained very steady, the
extreme fluctuations being loss than 1 per cent.
The same dulness which has characterised business on
the Stock Exchange generally since our last has been felt
in the market for American securities; the tendency of
5.20 Bonds (1862) has been rather downwards, while the
Bonds of 1865 have been somewhat firmer. At the close
Illinois shares aro more offered, at a decline of half per
cent. In Atlantic and Great Western Debentures and
Consolidated Mortgage Bonds transactions have boon
light, but the market for both closes slightly firmer.