The Sun.
London, England, 1867-07-06 00:00:00

COMMERCIAL.

New York, Juno 22.
Last Saturday's steamers took out $1,358,187 in specie.
On Wednesday $55,000, with $160,000 from Boston,
making, since January Ist, $22,747,436, against, for the
corresponding period last year, $48,712,795. The returns
show that we have exported since the Ist of July last, up-
wards of $16,000,000 less, while receiving $9,000,000 more
gold from California this twelve months than the preced-
ing. The difference is that we retain $25,000,000 more
specie in the country, and as the Pacific States, more
especially Nevada, is rapidly increasing its gold and silver
produce, while the harvest is so promising, the accumula •
tion bids fair to increase largely during the ensuing year.
Gold has remained firm, though with little variation ; there
is not much speculation, and no events have occurred to
excite the hopes or fears of " bears " or "bulls." It is
thought that gold will remain firm, and probably for some
time tend upwards. Wall-street has not been much
affected by the reported meeting of Congress next July. It
is generally believed that the work will be confine I to re-
construction, and that the House will not meddle with finan-
cial matters. There is some talk of repealing the authority
granted to the Secretary of retiring four millions of dol-
lars per month; but as this has not Leen acted on for some
time past it can make but little difference. As everything
is stagnant, there is not much call for capital, and as the
supply of money is therefore in excess rates continue easy.
5 to 6 per cent. is all that can be obtained on Government
and other good securities. When the crops come in, it is
hoped that there will be more activity, and as the harvest
prospect is good the general tone of business in the Fall
will, it is presumed, be good also. Over $9,000,000 are
required for the payment of the June issues of the 7-30's,
which have been commenced. The notes being widely
held throughout the country,.it takes a considerable time
for the coupons to be sent in. The Treasury hold
$103,000,000 in gold, and the cash balance in the New
York sub-Treasury amounts to over $133,000,000. There
has been a general decline in the miscellaneous stock mar-
ket, but the New York Central Railroad continues
steady. The next quarterly dividends of the Pacific
Mail Ship Co.'s stock will, it is said, be five per
cent., and is now quoted at over 140. Tho Chi-
cago and Rock Island Railroad report nett earnings
of 12+ per cent. Business is improving in dry goods, the
retail trade being more active. Tho news from the West
is still encouraging as regards harvest, and the new wheat
is beginning to come is. Gold 137 f, United States Five-
Twenties (1862) 1101, (1864) 1061, (1865) 107, (1815, New
Issue) 109 f, United States Ten-Forties 100+, United States
7-30 Loan 1061, Missouri Sixes 98+, Tennessee Sixes 68f,
Virginia Sixes 70, Now York Central Railroad 1011, Erie
581, Hudson River 108, Reading 104 Michigan Central
113, Michigan Southern and Northern Indiana 68f, Illinois
Central 120+, Cleveland and Pittsburg 77, Cleveland and
Toledo 121, Chicago and North-western 341-, Chicago and
North-western Preferred 591-, Pittsburg, Fort Wayne
and Chicago 97i, Chicago and Rock Island 89f, Ohio and
Mississippi Certificates 241 Adams Express Company 651,
American 651, United States 691, Wells, Fargo, and Co.'s
641, Merchants' Union 7 to 91, Western Union Telegraph
Company (ex-dividend) 42, Pacific Mail Steamship Com-
pany 14q, Atlantic Mail Steamship Company 108, Cum-
berland Coal Company Preferred 301, Canton Company 44,
Quicksilver Mining Company 28, Mariposa Mining Com-
pany 71-, Mariposa Mining Company Preferred 191.

(From Messrs. Bowles, Drevet, and Co.'s Circular.)
Paris, July 3, 1867.
We issue our Circular under above date, to-morrow, the
4th, being observed among Americans as a holiday.
The event of the week has been the financial commu-
nication made to the Corps Legislatif relative to a new
loan—an announcement variously received both by the
Chamber and at the Bourse.

In addition to the above, the speech of the Emperor
upon the occasion of the distribution of prizes to the exhi-
bitors at the " World's Fair," and later, the new: of the
execution of Maximilian, havo produced a deep sensation,
without, however, causing any marked fluctuations in
values quoted at our Bourse.

Americans show a slight decline, owing to the con-
tinued high rates for gold reported from New York, and
the considerable shipments of Bonds to Europe.
We quote the issue of 1862 at 821
If „ 1865 „ 80
It „ 1864 no transactions
The rente closes at 68.55
Exchange on London, 25.18.

(From E. F Satterthwaite and Co.'s Weekly Circular, July 3.)
Our advices from New York by the Cuba are to Juno 18.
There has been a steady investing demand for all
Government funds, and prices indicated an advance of
nearly 1 per cent. Railroad shares had also been in
request at full rates, but no particular feature was re-
corded. In State stocks and railway mortgages there was
but little change ; the former, however, were in more
request. Money commanded former rates, and gold was
steady at 38 prem.

The following is the return of the New York Banks:—
June 8, 1867 : Discount; $250,477,298 ; Specie,
$15,699,038 ; Cir,culation. 533,719,088 ; Deposits,
$184,730,335. June 15, 1867 :—Discounts, $247,301,547;
Specie, 12,656,339; Circulation, $33,707,109; Deposits,
$180,317,763.

TRAFFIC RETURNS FOR MAY.
Milos 1867. 1866. Inc. Dcrse.
open. $ 8
Chic. & Alton 281 338,691 329,851 8,840 25,530
Chic. & Rock Is 251,916 277,506 25,520
Erie
Marrietto & Cin 283 90,526 96,386 5,862
Michigan South 5lB 358,631 418,024 59,423
Milw. & Prairie

du Chien
Pitts., Ft. Wayne,
and Chicago 468 578,292 682,510 104,218
CLEVELAND, PAINSVILLE, AND ASHTABULA.
This line, commonly called the Lake Shore, from its
running along the south shore of Lake Elie, and connect-
ing the New York Central narrow gauge lines with the
other narrow gauge lines running westward from Cleve-
land, has proved a great commercial success.
In the New York Commercial and Financial Chronicle,
of the Bth ult., we find the following statement :
" Gross earnings, 1862, $1,551,628 ; 1863, $2,066,622 ;
1864, $2,424,298; 1865, $2,339,222 ; $2,568,834.
"Net earnings, 1862, $975,973 ; 1863, $1,268,724;
1864, 61,561,017 ; 1865, $1,148,561; 1866,952,041.
"Interest paid, 1862, $94,710 ; 1863, $105,000; 1864,
$105,000 ; 1865, $105,000 ; 1866, $105,000.
"Dividends in cash, 1862, $300,000 ; 1863, $429,000 ;
1864, $975,815 ; 1865, $400,000; 1866, $500,000.
"Dividends in stock, 1862, 8300,000 ; 1863, $330,000 ;
1865, $608,185.

"Dividends in Bonds, 1862, $400,000.
"The surplus income at the close of 1865 was distributed
amongst the stockholders to the amount of. $1,000,000,
being 25 per cent. on the stock then extant."
We commend these figures to the careful consideration
of our friends, as showing what railroads well managed
in America can do, and the really sound commercial value
the above-named and many others possess. The Chronicle
concludes with the following remarkable paragraph :
"Assuming the stock of this Company at $3,000,000 as
at the commencement of the period above reviewed, and
taking the amounts divided to the stockholders through
that period, wo find that the latter have received the fol-
lowing amounts—in cash 82,604,813 ; in stock $1,630,000 ;
and in bonds $400,000 ; or in all, for the five years em-
braced, the sum of $4,631,815, nearly 155 per cent., or at
the rate of 31 per cent. per annum, not including the cur-
rent interest on the dividends severally. The Company
aro now paying 10 per cent. on their capital increased by
those dividends to $5,000,000, which is equivalent to
16 2-3 per cent. on the original investment. Geographical
position is the master-key to this grand result."
Now if geographical position be the master-key to so
wonderful a-result, it surely augurs well for the future
destiny of the Atlantic and Great Western, which,
admittedly, occupies the finest position on the American
continent as the most important link between railroads
east wanting a western outlet, and railroads west needing
to make connections with the Atlantic seaboard, besides
possessing unbounded local resources.
In tha London market for American Securities, since
last prices have been singularly steady. United

Stat 5.20 Bonds, 1862, have been taken for the Conti-
nent to an extent fully to meet the saki which have been
made by holders here. They close 72; to 73, precisely the
same as this day week. For 5-20 Bonds of 1865 issue
there has been less demand; they have declined fully
per cent.

Virginia 6 per Cont. Bonds are now dealt in ex all over-
due Coupons ; they have been done at 34 and close 33 to 4.
In Illinois shares scarcely a transaction has occurred
pending the closing of the books on the 20th inst. for the
dividend which is declared at 5 per cent. free of income
tax. The quotations remain steady.
The principal movement has been in Erie shares, which
have steadily advanced on large purchases, believed to be
on New York account to 44. They have been freely
taken as fast as offered.

In Atlantic and Great Western Consolidated 7 per Cent.
Bonds transactions to a small amount take place ;aily.
They have ranged chiefly from 2-listo 25, touching at one
time 25i, but closing sellers at 25. Great anxiety is
continually expressed to receive some report from the
Committee of Investigation appointed on the sth of
March last, now four months ago.

COUNTRY MARKETS.

WAKEFIELD.-FRIDAY.

At our market to-day English wheat met with a ra-
ther quiet inquiry, and the business done was at the ex-
treme rates of last week. Other articles unaltered.

LIVERPOOL.-FRIDAY.

Thero was a good attendance at to-day's market, and
wheat met a very fair consumptive demand at the ex-
treme rates of Tuesday last. Flour was in better request,
and prices fully supported. Indian corn was inactive, and
rather easier. Oats in moderate demand, at higher values.
For oatmeal there was a quiet demand.