The Sun.
London, England, 1866-09-08 00:00:00

American Financial News.

SATURDAY, August 25.
Gold continues firm, the closing rate being 148. I still
believe the tendency to be downwards, though there is a
large short interest which must first be settled. It is
known that a quantity of the precious metal has been or-
dered from Europe, and the tendency of our 'stocks being
upwards in the European markets will enable us to turn
the flow backwards from Liverpool. Still the shipments
from our side have not ceased, the last steamer having
taken a considerable sum. Ono per cent. has been
paid for cash gold. A story has been floating about
that some banks refuse to loan upon gold, but it has not
been confirmed that any bank of importance has done so.
5-20's are at 1101, and 7-30's at 105. The Tribune remarks
which bear 6 per cent,
that at present rates, in point of interest, there is a decided
at 117 i, to 9 per cent.
ftaveogiuiralo,f
Ityhttehs-g2ool'ds,
the 7-30's bear currency interest. Gold
currency, whereas
advantage
geabionu
at 140 would make the interest on 5
l2do sbeeqt!al to 8 40
currency, hence the high premiumuf on
exeghangin gold-bearing bonds.
and the immediate advantage.l.t
mortgages' aregless active,or
5-20's. State bonds and railway Ys
irregular. After the call
and the railway share market
the market was dull, and
the
orders few, which is
-ar The prices,
to be expected at this time of the
Y c elo'in. i
how-
ever, are still upwards, "bulls" pre natin3-. The tem-
per of the street continues decidedly "bullish," and prices
will be pushed still higher. Thespeculators, however,
are not strong, and stocks being pressed for sale before the
second meeting sent the market down. Erie went down
es closed steady,
721, and were pressed for sale. Other tat 0 0
but dull. The following are the quotations : M
sissippi, 291 to 29g; Canton County, 523 to 00, Boston
_
Water Power, 32 to 33 ; Cumberland Preferred, 1
to
giliCk6llVer, 501 to 501 ; Mariposa Preferred, _4 •
to 2
Western Union Telegraph, 57-;,r- to 58 ; Now York Centtl ,
10l to 'lol' •Erie, 741 to 721 ; 'leading, 115} to 110.;--,,
,
Michigan Central, 1131 to 114 ; Michigan Southern, Bdi,
to 85 ; Illinois Central, 122 g, to 123; Cleveland and
Pittsburg, 87 to 87g ; Cleveland and Toledo, 114 to 116;
Rock Island, 109 k to 109} ; North-Western, 361 to 37; do.
Preferred, 68 to 681; Fort Wayne, 1041 to 105.
•
Money is very abundant, and there is great ease in the
market. On call sto 6 per cent. is the figure. The busi-
ness done is small, and at unchanged rates in commercial
paper. Large sums are being paid by the Sub-Treasury
r account of temporary loans. The payments are made
in National Bank notes. The City Banks do not view
these notes with favour, and in some places have declined
to receive them as deposits to bo drawn against. The
Street report them as at a discount of from 1- to per cent.
Next week an attempt will bo made to force the City
Bank into making settlements at the Clearing-house in
these notes, and will, it is thought, be carried.
'reduce bills 410 with difficulty negotiated, and EA-

change remains unsettled. London, prime bankers', 60
days, 106: to 1071 ; at sight, 1071 to 1081 ; Paris, bankers,
long, 5.321 to 5.281 ; Antwerps, 5.35 to 5.30 ; Hamburg, 351
to 36 ; Amsterdam, 401 to 401 ; Frankfort, 401 to 41 ;
Bremen, 77! to 78 ; Berlin, 71 to 714.
Freights are very dull, and rates are nominal to Liverpool.
Wheat, 41d. ; flour, ls. 6d. ; corn, 41d. ; heavy goods,
12s. 6d. to 15s. London, flour, ls. 101 d ; wheat, 51d. ;
corn, 51d. ; heavy goods, 15s. to 20s. Cotton, 3-16 d. ;
ditto per steamer, Id. to id.

Nearly $300,000-have been stolen from the Marine Bank.
The money was placed on special deposit by Messrs. Crocker,
Wood, and Co., ship-chandlers, who will, it is said, bo the
losers and not the Bank. The robbery was not discovered
for 18 days. The thieves have so far got clear off, but the
detectives aro on their trail.

The business of the Sub-Treasury was : —Receipts,
63,522,589 39—for Customs, 6538,000 ; Payments,
6,1,883,8.10 83.—Balance, $95,555,905 57. Gold notes,
6276,0(10.
Tho Chicago Tribune of Wednesday says :—" Business is
improving, though not rapidly. The receipts of grain aro
more liberal and the demand for money is more pressing.
To-day there was an increased demand for currency from
every quarter, and in some instances considerable " ship-
ping" was made use of by some of the banks to meet the
cheques drawn on them by their correspondents. Exchange
was thrown upon the markets with a looseness; Govern-
ments were being realised on, and in some quarters we
hear that telegrams had been sent East ordering currency.
There is no surplus of money at any of the banks. Paper
is being more closely discriminated, and nothing but what
is ' gilt-edged' will now pass. For such the market is com
paratively easy at 10 per cent. Outside paper is ignored,
and second-class names aro rejected. On the street
these sell at 12 to 18 per cent. per annum. There was
more exchange offering in view of the scarcity
of cu►rency, and the market was 'slumpy' and lower.
Round lots of bankers' sold at 50 to 1-10 discount, with a
greater supply at these figures than the demand called for.
Counter rates were also easier."

The Cincinnati Commercial of Wednesday says :—" Ex-
change is still heavier. Some of the dealers confine their
purchases at 50c. off to their customer; and do not offer to
take outsiders' cheques at better than 1-10 c. off. The offer-
ings of paper for discount were a little more regular in the
experience of different bankers. In the aggregate they
appear to have been less than usual, but the checking was
correspondingly increased, and as great closeness in the
working of the market is noticed as heretofore."

(From L. P. Morton and Co's. Circular.)
NEW YORK, Aug. 25.

Since our last the course of monetary affairs has been
somewhat. disturbed by speculative movements in Gold.
Money has been in active demand for gold operations,
and the rate of interest has ruled about 1 per cent. higher.
Demand loans on the best collaterals are made at 4 per
cent. ; but the prevailing rate is 5 per cent. Discounts are
more active ; but rates remain steady at 5 to 61 per cent.
United States securities have been somewhat irregular;
but the late advance is well supported by a steady demand
for investment. Five Twenties of 1882 have been less in
demand for export, but, with the comparative scarcity of
bonds on this market, have maintained the improvement
of last week, fluctuating between 110 and 1101 and closing
at 1101 to 1101.
Railroad Stocks have been irregular, in connection with
speculative movements, but are on the whole firm. Erie
has touched 741 during the week, but subsequently de-
clined to 721, and closes at 721 to 797,-. Illinois Central
has ranged at 1221 to 123*, and closes at 123. The anti-
cipation of monetary case, resulting from the redemption
of about 870,000,000 of the Temporary Loan, sustains the
prevailing speculation for higher prices of securities gene-
rally. _ .

State Stocks have boon firmer, in sympathy with the
improvement in other classes of securities. Tennessee's
of 1890 have sold up to 94, and close at 931. North Caro-
lina G's close at 84 ; Virginia G's at 70 ; and Missouri G's
at 781.
Gold has fluctuated widely, under an unusual scarcity,
prodncedby combinations withholding gold from the mar-
ket ; loans of coin have been made at to 1 per cent. per
diem. The price has ranged at 1471 to 151, and closes
weak, under speculative sales to realise, at 148/.
Foreign Exchange has been dull, owing to the indis-
position of remitters to buy at the current premium on
gold. The market is well supplied with bills, and rates
have fallen to 106 to 107 for bankers' 60 days' sterling,
and 107 to 1071 for sight. Francs close at 5.35 to 5.30 for
bankers, long date, and 5.30 to 5.271 for sight.
Cotton has ruled quiet, with a slight downward move-
ment in quotations. Middling Uplando close steady at 33
to 34c. The receipts at all the ports, reported for the week
ending August 21st, amounted to 7,000 bales, and the ex-
ports for the same period to 7,000 bales.

FOREIGN QUOTATIONS.
August 24. August 17.
London commercial lO5l 106 k 1061 1071
Do. bankers' long lO6 107 1081 108/
Do. bankers' short sight lO7 1071 5271 5231
Paris sixty days 535 530 5231 5221
Do. short sight 530 5271 5231 522;
Antwerp 5361 531+ 530 526;
Hamburg MI 36 36 36]
Amsterdam 4oi 404 401 41
Frankfort
Bremen 771 78 781 79
Berlin 7l 714 714 72