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

COMMERCIAL.

NEW YORK, SATURDAY, August 24.
Gold has been firm, and business has been done at an
advance of nearly 1 per cent. On Thursday the market
closed at 140 k. The shipments of specie for Europe have
been the lowest known for some time. Last Saturday the
amount was $185,000. Tho imparts for California have
also been on a reduced scale. The receipts for customs,
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 st 1091 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. Tho 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 rumour~ 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. The
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 1401, United States Five-Twenties (1862) 1131,
(1864) 109, (1865) 109, (1865, New Issue) 1103, United
States Ten-Forties 99/ 1021, United- States 7-30 Loan
10.71, Missouri Sixes 1021, Tennessee Sixes 66, Virginia
Sixes 50, New York Central Railroad 1041, Erie 681.
Erie Preferred 78, Hudson River 1231, Reading 1031,
Michigan Central 1091, Michigan Southern and Northern
Indiana 801, Illinois Central 118 i, 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 1921, Ohio and Mississippi Certificates26l, Western
Union Telegraph Company 4211, Pacific Mail Steamship
Company 140 j, Cumberland Coal Company Preferred 35,
Canton Company 46, Quicksilver Mining Company 274,
Mariposa Mining Company 10f, Mariposa Mining Com-
pany Preferred 181.