The Sun.
London, England, 1866-06-18 00:00:00

COMMERCIAL INTELLIGENCE.

To-day the stock bonds and the mining and petroleum
exchanges are closed, as a mark of respect to the memory
of General St gold
has 120uring the past week the continued
exportation e
caused an advance in its price—
the latest quotation
ease,
being 141. The Money
market shows increasedatin
seo,the rate for call loans being
exceptional six per cent., with
.cases of five per cent. on
Government securities. e
exchange the quota-
tions were 1001- to for bankers' bills on England at sixty
days, and 1101 to 111 at three days, g
36 llttolls on Amsterdam
are nominal to 42 tot, on frambal-
fort 421 to on Bremen 80 to on on Frank-
-5.13 to 5.111, three days 5.071 to 5.082 forat
Prussiansix das
Thalers 731 to 74.
The Stock Market has been firm, with an upward ten
doncy, and speculative. The New York Central has leased"
perpetually the new line of railway from Schenectady to
Athens on the Hudson river, the terms being $120,000 per
annum, equivalent to G per cent. on $2,000,000. The New
York herald reports that at the meeting of the directors of
.1
the Erie Railway Company, held on Wednesday, its float-
ing debt was stated to be $1,500,000. In addition to this
the company is understood to be indebted to one of its
directors, a well-known Wall-street speculator, to the ex-
tent of two millions. It is represented that the company
recently made an arrangament with the latter, under which
it re-hypothecated the fourteen thousand shares of com-
mon stock withdrawn from him when the lien was paid
off upon the occasion of the company negotiating its
last loan in London. These added to the fourteen thou-
sand shares previously in his possession leaves him the
custodian of the original twenty-eight thousand shares ;
in addition to which he is said to hold convertible bonds
as security for the two millions adyanced. Xhe general

impression is that the whole or a part of the stock thus
hypothecated has been thrown upon the market. There
has, however, been no over issue of stock. The company,
it is estimated, has expended for materials and supplies
during the past year three millions and a half, to which it
adds from the constructionaccount two millions and a half
making a total of six millions disbursed during the year.
The company owes it to its own reputation to publish a
statement of its affairs at the present juncture, when Wall-
street is full of scandalous reports regarding its man-
agement. Nothing should be left to inference that can
be satisfactorily explained where the inferences are so
damaging.
On Thursday the Sub-Treasury of New York redeemed
$10,000,000 of the one year certificates for June, July, and
August, upon which interest has now ceased. The
1 monthly statement of the New York Sub-Treasury for the
month of May shows a balance of $85,526,464 at the end
of the month, against $88,080,555 at the beginning.
The following were the latest quotations on Thurs-
day :...

U.S. G's, 1867, 1254 ; U.S. G's, 1881, cou., 1094; U.S. 6's
5-20, 1862, c., 102 1-3 ; U.S. 6's 5-20, c., 1865, 102 a ; Ten-
nessee G's, 904 ; Missouri G's, 771 ; Trn. 7 3-10, 2d s., 1021 ;
Trn. 7 3-10, 3d s., 102+; Del., L. and W., Ist in., 101;
Reading, 1094 to 11 ; Michigan Southern, 80+ ; Cleveland
and Pittsburg, 844 ; Rock Island, 934 ; North-Western,
28---preferred, 581 ; Fort Wayne, 97-+ to 4. Ohio and
Mississippi Certificates, 284 to ; Canton, 61 to 4 ; Cum-
berland, 454; Quicksilver, 514; Western Union Tele-
graph, 604. Afterwards the market .remained dull
but firm, and at half-past five New York Central was
quoted at 984 to 4; Erie, 614 to 4 ; Reading, 1094 to 4 ;
Michigan Southern, 804 to 4; Cleveland and Pittsburg,
84 to 4: North-western, 284 to 4 —preferred, 584 to 4 ;
Fort Wayne, 974 to 4; Canton, 61 to 4.

(From L. P. Morton and Co's. Circular, New York,, June
2, 1866.)
Per Steamer " City of Boston."—The monetary arrange-
ments, alluded to in our last advicos, have subsided, and
the loan market is again comparatively easy. The Treasury
has disbursed several millions of currency in the redemp-
tion of Certificates of Indebtedness, which has compensated
for the late large withdrawal from the banks in payment
for gold sold by the Government. On call loans, the rate
is generally 6 per cent. ; prime paper finds ready currency
at 51 to 61 per cent.
Five-twenties have shown increased firmness, under a
demand from investors and from parties who had sold on
options in anticipation of the return of further amounts
from Europe. The price has advanced from 1011 to 1021,
and closed at the latter quotation. No amount of bonds
of importance returned from Europe have been offered
during the week.
In the Stock market there has been a strong reaction
from the depression of last week, and prices haveadvanced
materially under speculative operations. Owing to mat-
ters connected with the management of the Company, the
Stock of the Erie Road has declined, from our last quota-
tions 10 per cent. The Board have authorised a loan
with one of the Directors for $1,700,000, for a period of
two years, upon $3,000,000 of the convertible Bonds of
the Coinpany as collateral. The lender stipulates for the
right to convert the Bonds into common Stock at discre-
tion, and is to be free to use either upon the market. It
has also transpired that the Company lately borrowed a
further amount from Mr. Drew, depositing the 14,000 shares
returned upon the liquidation of a portion of his loan
some months ago. The total floating debt of the Com-
pany is reported as $3,500,000. These negotiations have
affected the stock unfavourably. There has been a re-
covery from the extreme decline of 571 and the price was
quoted yesterday at 611 to 611. Illinois Central has fluc-
tuated between 118 and 120, and closed on Thursday, at
118 to 1181. Yesterday there was a suspension of busi-
ness on all the markets, in respect to the memory of the
deceased Lieutenant General Scott.
State Stocks have been more active, but at lower prices.
The last quotations for Tennessee 6's was 904; for Mis-
souri 6's, 77 ; for Virginia 6's, 65 to 66 ; and for North
Carolina G's, 821 to 821.
Gold has been steady at the advance established last
week. The export demand has been to the extent of about 1
six millions. The purchases for to-day's shipments caused
yesterday an advance to 141, after which the price slightly
re-acted, closing at 1401. The exports to Europe by Wed-
nesday's steamers aggregated $3,191,400.
In Foreign exchange the bulk of transactions has been
in Sight Bills, the rates being a fraction higher than last
week. Bankers' Sixty Days' Sterling Bills were quoted
yesterday 1091 to 1091 ; Sight do., 1104 to 111. Bankers'
Bills on Paris, sixty days, 5.111: do., short date, 5.071 to
5.061.
There has been a slight downward re-action in the Cot-
ton market ; partially owing to the dulkiess of the staple
at Liverpool, and partly from the inability of manufac-
turers to sell cotton goods at the advance of last week. On
Thursday' the market closed at 37 to 371 for Mid. Upland.
The receipts at this port continue comparatively light.
The arrivals at all the ports, reported hero for the week
ending May 29th, were 20,000 bales, against 19,000 for the
preceding week ; the exports for the same period were
20,000 bales, an increase upon the preceding week of
1,000 bales.—L. P. Moran and Co., Bankers, 35, Wall-
street.