The Sun.
London, England, 1867-02-19 00:00:00

THE SUN, LONDON, TUESDAY EVENING, FEBRUARY 19 1867

his master, who threatened to chastise him
for disobedience of orders. " Massa," said Caesar,
" you told me to take care of your property"—
placing his hand on his breast. "Dis is wort fifteen
hundred dollars." He escaped punishment.
A Washington correspondent tells this charac-
teristic story concerning the late Count Gurowski :
" The Count was once in a heated argument with
an ex-rebel, Judge L—, when he suddenly said,
Judge L—, I admire you!" Why,' returned
the Judge, 6I cannot see how you can admire me
after calling me such hard names!' Indeed,'
roared the Count, 6I admire everyting zat is per-
feck, and you are one perfeck scoundrel !' "
There have been 1,600 divorces granted in Mas-
sachusetts in the last six years.

COMMERCIAL.

New York, Fob. 2.

We have looked for the effect of the threatened impeach-
ment on the European markets with some anxiety not un-
mixed with curiosity. The result has been gratifying, as
our securities appear to be steadily if slowly rising. Yet
to judge by your newspaper articles, both of the London
and Paris press, you attach more importance to the MO TO
of the extreme Radicals than we do on this side.

The panic is at an end, though the market continues
excited and feverish. Every rise is followed by an imme-
diate fall, in consequence of the anxiety evinced by holders
to get out of their shares on the first opportunity. Tho
New York Central has declared its usual dividend of 3 per
cent. for the half year, payable on the 20th February. It
s said that Mr. Vanderbilt and his friends are buying up
Erie stock to influence this road. At any rate a laago
quantity of that stock has lately changed hands, andordors
have, I am informed, been sent to England with this
object.

Though money is abundant, it is not easy to get. Ap-
proved collaterals for short loans are alone readily taken.
On Governments 5 and 6 per cent. is the rate, and 7 per
cent. on other first-class securities.

Gold has been unsteady during the week, influenced by
various sensational rumours, chief among which were the
stories of serious deficits said to be discoverd in the printing
bureau at Washington. The price was in this way run
up on Wednesday to 1361, but afterwards dropped to 134.
Thursday's closing price was 1351. The export by the
European steamers which sailed last Saturday was
$467,000. No good reason exists why gold should bo
higher than at present, unless the financial crash, which
some are gloomily foreboding, should come. The demand
for actual use and export is quite light, and the imports
from California hold up remarkably well, the last steamer
bringing $1,072,175. Government securities have been
steadily and quietly improving, and are in excellent
demand.

The proposition has been before Congress for some timo
to give in payment to the national banks holding com-
pound interest notes as part of their legal reserve, 3 per
sent. notes to an amount equal to one-half of their re-
quired reserve, which is now about $200,000,000. These
will be practically to the banks the same as legal tenders,
for they can demand legal tenders for them on ten days'
notice. The effects of such an issue would probably be
that the treasury would be at the expense of paying the
banks an annual sum to enable them to keep the reserve
which is required by law; while there would be 'a further
inflation of currency and postponement of the day of
specie payments and low prices. The internal revenue
receipts, last week were 83,400,776 ; and the amount
since January 1 is $16,591,702. They have fallen
off very materially within the past three months,
and it is doubtful if Congress will venture to
make much reduction in taxation, lest the Govern-
ment's revenue be too extensively reduced. The total
receipts from customs in the week ending Jan-
uary 19 were $3,064,312. The amount of fractional
currency issued to date, deducting worn-out notes returned,
i 5529,874,896. The disbursements for the various depart-
ments, last week wore as follows : War $1,814,808, navy
$2,943,976, interior $216,602.—The securities held by the
treasurer for the circulation of national bank notes amount
to $345,514,000; for depositsof public moneys, $38,761,450.
The exports (exclusive of specie) from New York for the
week and year are $3,210,976 against $3,419,470, and
$13,908,549 against $17,405,606. The imports cor-
respond as follows: $3,663,970 against $4,629,628,
and $14,955,517 against $17,947,499. The commerce
of New York from July 1 to January 26 was as follows :
Importations of merchandise $145,888,549 against
$160,031,697, exports of produce $95,514,941 against
$124,283,142, exports of specie $19,276,481 against
$14,623,160 .
Trade continues stagnant—there is no improvement, I
regret to say, whatever, and s everal failures had occurred*
The following are the latest quotations :—Gold, 135+;
United States five-twenties (1862) 1071, (1864) 105/ (1865)
106, (1865, new issue) 1011, United States Ten-forties
991, United States 7 3-10 loan 10.1;, Missouri Sixes 921
New York Central Railroad (ex-dividend) 971, Erie 551,
Erie Preferred 71 to 72, Hudson River 128+, Reading
103}, Afitrhinn Central 1071, 1411,higan Southern and

Northern Indiana 71, Illinois Central 1134, Cleve-
land and Pittsburg 78}, Cleveland and Toledo 118 to
125, Chicago and Rock Island 941, Chicago and North-
Western 35k, Chicago and North-Western preferred 63},
Pittsburg, Fort Wayne, and Chicago 961, Pacific Mail
Steamship Company 156 to 157, Atlantic Mail Steamship
Company 98 to 99, Adams' Express Company 66, American
65, United States 651 to 66, Wells, Fargo, and Co.'s 691 to
60, National 90, Merchants' Union 131, Western Union
Telegraph Company 44}, Canton Company 421, Cumber-
land Coal Company preferred 35 to 37, Quicksilver Mining
Company 37/, Mariposa Mining Company 10.

(From Messrs. Bowles, Drevet, and Co.'s Circular.)
The market has boon generally well sustained during
the past week, although there has boon a slight tendency
to lower figures during the past few days.
Transactions have been quite limited, speculators hav-
ing awaited, with some anxiety, the effect of the speech
of the Emperor, at the opening of the Corps Le"gislatif.
The obscure but pacific nature of this address has had but
little influence upon the Bourse. we will have occasion
to refer to the subject more particularly in eur next

circular.
We quote the French Three per Cents. to-day :—Ex-
chango on London, Stock, 25 13 to 25 16 ; GO to 90 days,
25 16 to 25 19, less interest at 3 per cent.
The attention of capitalists is particularly occupied by
the New Austrian Railway Loans, placed upon the prin-
cipal European markets upon the 12th and 13th inst.
Subscriptions are said to reach six or eight times the
amount desired, which is not surprising, all Austrian
securities having everywhere advanced, particularly in
Germany, and the loan actually issued at 225 f. bears au
annual interest of 15f., or nearly 7 per cent. per annum ;
7uouoafi. ,
attractions. being
mainly interested in the above
papable in ninety-five
andC years,apthi
offers
epi
Capitalists
principal, at, 1n,765,
American Government Bonds have been somewhat
neglected. Prices, however, remain very firm, say from
821 to 82j, the tendency of these securities to take a firm
place upon our market becomes more and more marked.
We aro convinced that they will continue to bo more
and more sought for investment.
We have given our European readers, in our last cir-
cular, some particulars regarding the new steam ship
line between California and China, and upon the Union
Pacific Railway, connecting San Francisco with tne
eastern portion of the United States, a stop which we are
sure will tend to bind America more closely to other
countries.

(From E. F. Satterthwaite and Co.'s Weekly Circular,
February 6.)

By the Asia we have our customary weekly advices from
New "York to the 28th ult. During the week that just
elapsed the Railroad Stock Market has been in a state of
panic, all descriptions currently dealt in for speculative
purposes exhibiting almost daily violent fluctuations.
From the entire list we select a few as indicative of the
course of the market. By these it will be seen that the
lowest quotations of the week were attained on the 25th ;
from that point there was a reaction, but the latest prices
exhibit only a partial recovery.
Jan. 22. Jan. 25. Jan. 28.
Chicago and North-Western 43 33 37
Do do Preferred 80 60 65
Cleveland and Pittsburg ..• 90 78 82
Cleveland, Columbus, and Cin-
cinnati 115 107 107
Erie ... 65 551 59
Hudson Biver 130 120 123
Michigan Southern ..• 79 66 66
New York Central 109 98 102
Cumberland Coal (Preferred) 1 36 39
Gold 18361 134 134}
Stocks held for permanent investment, such as Illinois
Central, Michigan Central, and Readings were but
slightly affected, the depreciation amounting to only about
1 rer cent.
In Miscellaneous Stocks the fall had been very heavy,
as will be seen by the quotations for Cumberland coal,
a favourite medium of speculation. Government Stocks
were a little more offered, and at ono time exhibited a de-
cline of 11 per cent., but close lower than on the 22d.
State Stocks and Railroad Bonds were comparatively
steady. Money was in good demand at 7 per cent., but
collaterals were more closely scrutinised.
In the London market for American Securities we
have to record a fair amount of business during the
past week in the United States 5-20 Bonds. Up to yes-
terday the price remained almost the same as this clay
week, but on advices from New York of lower premium
on gold, with a slight advance on Government Securities,
the price advanced to 73 to -I. Illinois Central Shares for
the same reasons have advanced mote than one per cent.,
closing 81} to 82, but Eries show no improvement, the
latest quotation being 391 to I.
There has been a complete panic in the various securi-
ties of the Atlantic and Great Western, the first and second
sectional Mortgage Bonds, without any officially recorded
transaction, being quoted 15 per cent. lower than this day
week. The Consolidated Mortgage Bonds have also de-
clined 4 per cent.,
and the Debentures 7 per cent.; the
rate of continuation for carrying over Consolidated Bonds
until next account.hae been merely nominal,