The Sun.
London, England, 1866-10-06 00:00:00

COMMERCIAL INTELLIGENCE.

NEW YORK, Sept; 22.
Gold close's at 1431, having fallen under the receipt from
Europe. The ring are, however, are too strong to let the
drop be sudden or heavy. Indeed they may succeed in
again, for a time, forcing up the price, the more so as ship-
ments from Europe appear to be falling off. The receipts
are large and increasing, and the shipments at San Fran-
cisco heavy. It is calculated that a big sum will before
long be accumulated, and at the disposal of the Treasury.
Many advocate the return to specie payments, the. paper
currency being gradually extinguished. A pressure is,
however, brought to bear on the Secretary to sell gold so
as to neutralise the proceedings of the ring. The extinc-
tion of the national debt proceeds very rapidly. The
autumn receipts at the Custom-house, it is believed, will be
large beyond all precedent. if so, Secretary M'Culloch's
position will be much strengthened.
Government stocks are more active at full prices. The
7.30's are in demand at 106 to 1061, and 5-20's at 1081 to
1111 for new and old issues. State bonds are firm, and
North Carolina 6's 1 higher. New Tennessee aro firm at
721. Railway Mortgages steady; the miscellaneous list
was not so firm ; Canton and Ashburton Coal were lower ;
Rutland Marble sold at 301, and Mariposa Preferred at
33+ ; Spruce Hill 41. The Railway Share Market was
lower under a fall of 21 per cent. in Erie from the ex-
treme quotation of 771 ; New York Central fell 1; Hud-
son River, 1 ; Reading, 1 ; Michigan Southern, 1 ; Illinois
Central, 4 ; Cleveland and Pittsburgh, / ; North-Western,
1, and Fort Warne, 1. After the call the market was
steady, with large sales of Erie, which was readily placed
751 to 74. The speculation has lost none of its interest,
and its buyers talk of 85 with confidence. At the Second
Board Erie sold at 751, but broke to 751. Again after the
call, at which price it remained until the close of business.
Mariposa Preferred was strong at 331, and Boston Water
Power sold at 331 ; the balance of the Market closed steady
at quotations :—Now-York Central, 1061 to 106 1 ; Erie,
751 751; Hudson River, 1201 to 1211; Reading, 115 to
115+; Michigan Central, 1121 to 113 ; Michigan southern,
85+ to 851 ; Illinois Central, 1211 ; Cleveland and Pitts-
burgh, 86+ to 87 ; Rock Island, 111 to 111+ ; North-
Western, 351 to 34; North-Western Preferred 671 to
67+ ; Fort Wayne, 106 to 106+; Canton, 54 to 54+ ; Cum-
berland Coal, 48 to 48+; Quicksilver, 521 to 52+ ; Mari-
posa Mining Company, 15 ; do. Preferred, 331 to 331.
In money no change. Call loans are abundant at 5 per
cent., and a good deal is at 3to 6 per cent. Commercial
paper sells at 5 for best, and 51 to 6 per cent. for good.
Exchange is quoted as follows : —London, prime bankers',
60 days, 107+ to 1(71 ; London, prime bankers', sight, 108+
to 1081 ; London, prime commercial, 106+ to 1061 ; Paris,
bankers', long, 5.25 to 5.231; Paris, bankers', short, 5.214;
Antwerp, 5.281 to 5.261 ; Swiss, 5.281 to 5.24 ; Hamburg,
bankers', 34 ; Amsterdam, bankers', 41; Frankfort,
bankers', 41; Bremen, bankers', 771 to 78 ; Berlin,
bankers', 71.
Freights are decidedly lower. The engagements to
Liverpool are 50,000 bushels corn, part by steamer, at 3d.
to 4d. ; 2,000 boxes cheese per steamer at 2s. ; a bark was
chartered to a direct port in England at ss.

(From L. P. Morton and Co's. Circular.)
NEW YORK, Sept. 22.

Financial affairs have varied but little since our last
advices. The money market continues to exhibit ex-
treme ease, the prevailing rate on demand loans being
4 per cont., and for discounts sto 6 per cent. The anti-
cipation of the redemption of $45,000,000 of the Tempo-
rary Loan, in equal instalments on the 25th September
and the 25th October, had increased the ease of the mar-
ket, and encouraged speculative operations in securities.

United States Bonds have ruled steady during the week,
the transactions being limited. Within the last few days
there has been a decline in the flow of securities from the
interior, induced by tho recent advance of price, and the
market has assumed a somewhat firmer tone. Five-
Twenties of 1882 have ranged at 111; to 1111, and close
at 111 g.
The course of !lain* stocks has been steadily upward
under the operations of active combinations for an ad-
vance. Erie Shares have been in large demand, for pur-
poses connected with the election of directors, and the
price has advanced from ni to 771. Yesterday, the price
was weaker, and fell off to 74k, closing at 751. The specu-
lative movement in Illinois Central has subsided, and
transactions are lighter, but without any change in quo-
tations, the price having ranged at 1211 to 1221; the
closing quotation is 124.

State Stocks have been quiet but steady, the chief
feature having been the continued firmness of Tennessee
6s of 1890. The following are the closing quotations—
Tennessee 6s, 1890, 95 to 96; North Carolina 6s, 83 to 84;
Virginia 6s, 70; Missouri 6s, 78i. Gold showed a steady
downward tendency, apparently the result of the influx
of specie from Europe and California. The highest point
touched since our last has been 1451 and the lowest 1431 ;
the closing quotations being 1431. The chief support of
the market is in its being constantly largely oversold.
FOreign exchange has been firmer during the week, but
the advance in quotations has checked transactions.
Bankers' 60 days' Sterling closes at 1074 to 1701; 3 days
Sterling 108 to 108-} ; Francs, long date, 5.26; to 5.231;
Francs, short sight, 5.224 to 5.24.