The Sun.
London, England, 1867-07-13 00:00:00

ON, SATURDAY EVENING, JULY 13 1867.

continued. Some of our new styles are absurd, and
should be avoided, especially the new costumes all
made up of Gladiateur's colours or Fervacques,
stripes. Wooden watches are heavy, saffron dye
for the hair, instead of Titien glow, is to be ab-
horred. The two heavy plaits down our backs, in-
stead of light streamers, are somewhat barbarous,
and the new round hats worn on the tips of ladies'
noses are more like masks than anything else.
Gloves, instead of three buttons, are now provided
with thirty, and the greatest extravagance is a pea-
green jacket with crimson sleeves.

The wise middle course in this season is black.
The Empress's Court mourning is relieved by a
tinge of red. White and black are the coolest mus-
lins, and at present the most appropriate.

COI.II.IERCIAL.
NEW YORK, Juno 29, 1867.
The intelligence from San Francisco shows that money
is abundant, and the rates have there fallen to 12 to 15 per

cent. per annum. The steamer on Saturday brought in
$1,145,000 in specie and bullion to New York. The na-
tional produce of the precious metals is valued at about
$100,000,000 per annum, of which 75 millions are estimated
to bo extracted from the quartz mines. The largest
quantity of gold is taken from Californian soil, and the
most silver from that of Nevada. The former foots up
$50,000,000, the latter $16,000,000. The richest silver
mine yet discovered in the world is in Virginia city,
Nevada, which within eight years has returned $66,000,000.
The amount of specie exported from New York from the
year ending July lis little over $40,000,000. Saturday's
steamers took out $466,800 in specie, and the Persia,
on Wednesday, $152,000, making a total since January
lof $23,222,826. There is more speculation in gold, and
that market is growing lively, for it is anticipated that the
President and the Congress about to assemble will not
pull together, and buyers look for a rise. An advance has
been already established of from 1 to 2 per cent., the rate
closing on Thursday at 1381. On July Ist the Treasury
will disburse nearly $18,000,000, and, as the export is
steadily declining, if there be no trouble at Washington
those operating for a rise can scarcely fail to lose. Money
is plentiful, and the supply will be farther increased by
the July dividends, to be paid by the railroad and other
companies. The rates ruling here are from sto 6 per cent.
on the best security, and 7toB on the second class. The
supply is very large, but some think the Legislative Act
L of last winter, which will be in operation next week,
abolishing legal rates of interest, will have an effect on
the market. I need scarcely say that these people are
wrong, as the market never has been influenced, and never
will be influenced, by any such insane laws. The simple
rules of supply and demand will continue to regulate
it, as they have hitherto done. Business also has
been more brisk in stocks and shares. The Michigan
Southern, influenced by a report of a change in its direc-
tion, and a consolidation of the lino from Buffalo to Chi-
cago, of which it will form the western link, advanced
from 71* to 751. Erie also rose rapidly with many eager
buyers. The Buffalo and State line railroad of New York
has been consolidated with the Erio and North-west, and
the road will be known hereafter as the Erie and Buffalo.
Another consolidation is in contemplation to complete the
Pennsylvania Central, and to give them a through inde-
pendent line from Philadelphia to Cincinnati. For this
purpose it is necessary to incorporate the little Miami,
Columbus, and Xenia railway. The Panama Railroad,
dividend for the quarter payable July 5, is 6 per cent. It
was thought that the receipts of Thwenue and Customs
have increased so as to enable the Financial Secretary for
the month just closing to show a satisfactory return. At
New York the Customs receipts daily range from $350,000
to $400,000. Government Securities are strong, with more
business doing at a slight increase of price. Foreign ex-
change is rising, and is now quoted from 110 to 1101 for
gold. Gold 1381, United States Five-Twenties (1862)
104 to 110 i, (1864) 107 k, (1865) 107 i, (1865, New Issue)
1101, United States Ten-Forties 100 k, United States 7 3-10
Loan 1061, Missouri Sixes 98f, Tennessee Sixes 67, Vir-
ginia Sixes 74, Georgia Sixes 841, New York Central Rail-
road 104, Erie 631, Erie preferred 75, Hudson River 1091,
Reading 1081, Michigan Central 108 f, Michigan Southern
and Northern Indiana 761, Illinois Central 121/, Cleveland
and Pittsburg 801, Cleveland and Toledo 1201, Chicago
and North-western 39f, Chicago and North-western Pre-
ferred 631, Pittsburg, Fort Wayne, and Chicago 1021,
Chicago and Rock Island 93k, Ohio and Mississippi Cer-
tificates 251, Western Union Telegraph Company 44, Cum-
berland Coal Company Preferred 301, Canton Company 461,
Quicksilver Mining Company 30, Mariposa Mining Com-
pany 7 to 8.

(From Messrs. Bowles, Drevet, and Co.'s Circular.)

Paris, July 12,1867.
Unbroken quiet and a gonoral disinclination for now
enterprises or speculation is reported to us from all
markots, American as well as European. Our own forms
no exception, and transactions during the past week have
been very limited. .
In Americans the quotation has varied from 821 to 82k.
but with little business. Tho issue of 1865 is steady at
80,3,- 41 ; in that of 1864 we hear of no transactions.
The route closes at 68.90.
Tho Italian closes at 50.40.
Exchange on London, 25.181.
United States Securities close in demand.
1862'5, 88.
1865'5, 831.

(From E. F. Satterthwaite and Co.'s Weekly Circular, July 10.)
The Persia brings us our usual advises from Now York
bearing date 25th ult. There had been an active demand
for all classes of the public funds, and prices were well
sustained. An easier money market bad also stimulated
speculation in railroad stocks, and a larger business was
recorded than for some time past, but withopt any great
alteration in quotations, except that Michigan Central had
declined $6, while Michigan Southern had advanced $4.
In railroad bonds we note an improvement both in the
demand for and price of Atlantic and Great Western First
Mortgage Bonds ; Border State stocks generally were more
inquired for.

DIVIDENDS.
It should bo borne in mind that all dividends on Amer!

can Railroads aro declared at so much per cont. on tho
capital, and not, as on Esglish Railroads, at so much per
c nt. per annum.
Illinois Central
lton:e, 'Watertown, and Ogdons-
burgh
Norwich and Worcester
Michigan Central
Metropolitan (of Boston)
Panama
Chomung 2 do. d 0.... do. do. 1
liartford and New Haven 3 do. d 0.... do. do. 1
Pitts., Fort Wayne, & Chicago 21 (10. d 0.... do. do. 16
Connecticut River .................. 4 do. d 0.... do. do. 1
Fitchburg
Boston and Lowell
Providence and Worcester .... 4 do. d 0.... do. July 1
" '
d 0... cssll tk}
Westn. of Massachusetts 5
and 30 do do. 1
Chicago, lowa, and Nebraska 5 do. d0....d0. do. 1
Portland and Kennebec
At the close of last week the London Market for Ameri-
can Securities was dull and inactive, but during the past
three days the buying on Continental account has been
resumed, and United States Government Bonds close firm,
the 5-20's of 1862 being last quoted 73 to 73k. Tho Bonds
of 1865 have been in considerable request, and the differ-
ence in price between them and the previous issue has
sensibly diminished, the closing price being 74 to 74, or
three quarters per cent. better than this day week.
The announcement of the customary dividend on Illi-
nois Central appears to give confidence in the undertak-
' ing, which we believe to be in a sound and prosperous con-
( dition ; the shares have improved to 80 to a. Erie shares
have been largely taken on American account, and are last
j quoted 44i to b.

(From Messrs. L. P. Morton and Co.'s Circular.)
NEW YORK, Juno 29,

_
- -
Atlantic and Great Western Consolidated Bonds have
been dull, and close flat at 24 to 25 ; the transactions have
been on a more limited scale than usual, and the decrease
in the traffic receipts for the two first weeks in July has
induced somo selling.

Since our last advices monetary affairs have shown a
steady reaction toward ease. While the movement at the
Treasury has returned but little of the large amount of
currency recently taken into its vaults, the largo sale of
bonds to the interior have caused an increase of legal ten-
ders at this centre, and call loans have declined to 4 to 6
per cent. _ _ _

Tho gold premium is again sensitive and fluctuating,
and has advanced 1i at 2c., notwithstanding a decline in
the exports of specie, and the prospect of the payment of
about nineteen millions of coin interest, by the Treasury,
on July Ist. The anticipation of the reassembling of Con-
gress in July creates a somewhat unsettled feeling in busi-
ness circles. It is apprehended that the session may be
prolonged, and that questions may be raised which will
tend to renew the lethargy in the trade of the country,
caused by the discussion of exciting political issues
' during the last session. At the same time there is a lack
of confidence in the permanence of pacific relations be-
tween Franco and Prussia, which has a certain tendency
to maintain the premium.
Apart, however, from these political considerations, the
tendency of affairs has favoured a steady improvement in
the tone of business. The crop prospects, in all sections,
afford substantial ground for the expectation of an active
business, and of a decline in prices which will go far to-
ward remedying the difficulties under which our industries
are at present placed. The weather, though in some sec-
tions unusually cool and wet, has been upon the whole
highly favourable to the maturing of vigorous crops and to
an ultimate ample yield of the cereals.
The general trade of the country continuos dull, and,
as a consequence, United States securities aro in very
active demand for the employment of idle funds, and
continue high and firm The causes which have induced
the extraordinarily high prices of bonds appear to have
been much the same as have contributed to the advance of

Consols. The generally unsatisfactory results of busi-
ness,:and the disposition among prudent capitalists to
keep aloof from trading investments until affairs are
=sod 5 specially
upon. sounder);)gi,s, lzyo laatui:4ly