The Sun.
London, England, 1866-11-24 00:00:00

(Glenn and Co.'s WYeekly Circular.)

LONDON, Nov. 23.
The London Market for American Securities has been
fairly active during the past week. Some investors are
holding back further orders till Congress meets, and the
differences between the President and that body are ad-
justed, but on the whole prices have been well sustained,
5.20's close to-night at 701 to 70,1. Erie Shares 50 to 50f,
and Illinois Central 78f to 78f, a rise of near 2 per cent.
Ott the week. Atlantic and Great Western Consolidated
Bonds are also higher, viz., 43 to 41, but the Certificates
of Debenture are 2 per cent. lower; and. close at 58 and 60.
Oui advices from New York are by mail to November
10th. Gold was steadily declining under the heavy load
recently thrown upon the market by investors in 5.20
Bonds, who drew from the Sub-Treasury over $88,000,000
gold interest during the first three days of the present
month. Though specie payments have not been resumed
in America, it is a noteworthy fact that never before was
there as much gold and silver in the country, nor so much
being produced from American mines. Before the war
the New York banks and United States Sub-Treasury's
average specie balances were from $25,000,000 to
$35,000,000, they are now over $100,000,000 ; and the
receipts of gold at New York from California since January
let, 1860, have been just three times as large as they
were same time last year, which augurs well for the rich-
ness of the mines on the Pacific Slope, and for the early
resumption of specie payments throughout the United
States. Money was easy, and could be had at 4 per cent.
on Government Securities. Railway shares rather lower,
and Mining Stocks buoyant.
•

A Rome, Ga.,•paper makes the following announcement
of railroad consolidation :—" On the oth ultimo, in this
city, the final steps in the cousolidaton of the Alabama
and Tennessee River Railroad, Georgia and Alabama Rail-
road, and the Dalton and Jacksonville Railroad Companies
were perfected, and the consolidated companies placed
under the control and direction of the Alabama and Ten-
nessee River Railroad Company, with General Joseph E.
Johnston president.

(From L. P. Morton and co:. Circular.)

NEW YORK., Nov. 10.

The money market has worked with less ease during
the past week, owing to the increased demand for cur-
rency from the West and South. Demand loans range at
5 to 6 per cent., with a strong tendency toward the latter
as the prevailing rate. Discounts are rather more active
at 6 to 7 per cent. for prime bills. . .

Government securities have shown less activity, but
prices havo ruled steady at about our latest quotations.
Five-Twenties of 1882 have ranged at 110} to 110 i, and
close steady at 1101. The Consolidated Five-Twenty Loan
has been in active demand from investors, the price
ranging at 110 to 1101 which, considering that the bonds
bear our four months' interest, is about i per cent. below

the quotations for other Five-Twenties than the issue of
1862.

The official statement of the Public Debt, dated No-
vember Isi, shows a reduction in the indebtedness of the
Government, during October, of t 22,026,936, following a
decrease in the preceding month, of $22,346,227. Within
the five months ending October 31, 1866, the aggregate of
the Debt has been diminished $118,978,362 ; while, for
the last seven months, the reduction amounts to
$154,336,511, or nearly six per cent. of the whole debt of
the country. During the month the Government has
bought up $2,289,850 of the sixes of 1867 and 1868, at 92
in gold, for the former issue, and 90 for the latter. Within
the same period $25,782,750 of the Consolidated Five-
Twenties have been issued in exchange for short obliga-
tions ; and $8,969,517 of United States' Notes (" green-
backs ") have been destroyed.
Railroad Stocks have been irregular, owing to the in-
terruption of speculation by the change in the money
market. Erie has fluctuated, under active speculative ope-
rations, between 811 and 861, and closes at 841 to 83.
Illinois Central has ranged at 124 i to 1251 with diminished
transactions, and closes at 124 i.
State Stocks have been quiet, excepting Missouri 6's,
which, under an active speculative movement, have ad-
vanced from 861 our latest quotation, to 931 closing at
891 Tennessee 6's close at 95 ; North Carolina 6's, 801 ;
and Virginia 6's, 61.
The speculation in gold has very much subsided, and
the premium has ruled steady at near the closing figure o
our last advices. Yesterday the price closed at 1461 to
1461 _ _

Foreign Exchange has been heavy throughout the week,
owing to the supply of bills having proved unexpectedly
large, but with a moderate demand. Southern Cotton
bills are coming into the market inure freely. Bankers'
60 days' Sterling close at 109 to 109; ; 3 days do., 110 to
1104. Bankers' bills on Paris, 60 days, 5.16/ to 5.15 ; 3
days, 5.131 to 5.121.
A marked dullness has been developed in the Cotton
market. Manufacturers are accumulating stocks of goods;
and, in order to obviate a severe decline in prices, are cur-
tailing their production. Tho effect has been to produce
a decline of 2 to 2/ cents in quotations, notwithstanding
the steadiness of the Liverpool market. Middling Uplands
closes at 36/ to 37 cents.
FOREIGN QUOTATIONS.

Nov. 9. Nov. 2.
London commercial lO7l 108; 108 108 k
Do. bankers' long lO9 109; 109 1091
Do. bankers' short sight llO not 110 1104
Paris sixty days 516 k 515 516 k 515
Do. short sight 513; 5121 5121
Antwerp 520 5164 520 5171
Hamburi, so 36t 36'
41.. i.

Jurg
Amsterdam
Frankfort
Bremen
724 79

Berliu

72t

73i1 73i

COTTON QUOTATIONS.
Uplands. Mobile. N. O. & Ts.
Good Ordinary
Low Middling 35 to 36 to 37 to
Middling
Good Middling
MOVEMENTS OF SPECIE AT NEW YORK. "
IMPORTS.

Foreign, week ending Nov. 3 569,489

Import for last week 569,849
Previously from California
Previously from Foreign Ports 8,392,249

Total sinco January Ist $44,163,534

EXPORTS.

For week ending November 3 5947,445
Previously

Since January 1 655,931,823
Same time 1865 25,314,501

(From E. F. Satterthwaite and Co.'s Weekly Circular,
November 21.)
The advices from New York, by the "China" reach
to the 7th inst. Much activity continued to prevail in the
Stock Market, and on considerable demand both on home
investing account and for shipment to Europe the price
of Government securities was well maintained. In Rail-
road Shares there was a large business at fluctuating quo-
tations, but on the week we have to note a decline on
most descriptions. Railroad Mortgages were firmly held,
and any offering found ready purchasers. For money
there was increased demand, and an advance in the rate of
interest of quite one per cent. was demanded. Gold, after
touching 148, had fallen to 1461, with every appearance of
a further move downward.

Since our last we have had a very steady market in
London for American Government Securities. There has
been a free exchange of United States 5-20 Bonds of the
1862 issue, for those of 1865, at a difference of from i to 1
per cent., so much so, that recent importations of the latter
issue appear to be pretty well absorbed. The Bonds of the
earlier date close at about last week's quotations, viz., 70/
to I, but the later issue at 691 to I, show an improvement
of quite a half per cent.
Illinois Central S hares, at 781 to 79, are nearly $1 higher,
but Erie exhibit a fall of $l, being last quoted 50 to 501.

Atlantic and Great Western Debentures have declined
to 59 to GO, but the Consolidated Bonds have advanced 3
per cent., leaving off 43 to 43j-.

OFFICIAL TRANSACTIONS FOR TUE WEEK. —United States
6 per Cent. 5.20 Bonds, 1882: Thursday. 70 691 PA nor,
70 * 004 /0i ; Saturday, 70/ 70 ; Monday, 70; ; Tuesday,
70/ 1 ; Wednesday, 701 11 1. Virginia 5 per Cent. Sterling
Bonds : Thursday, —. Virginia 6 per Cent. Dollar
Bonds: Thursday, —; Friday, —; Saturday, 421 1 ; Tuesday,
—; Wednesday, —. Atlan. and Gt. Westn. (N. Y. Sect.) Ist
Mrt. Bonds, 188( : Friday, ; Monday, ; Wjdnesday,
Atlan. and Gt. Westn. 2nd Mrt. Bonds, 1881 :
Friday, —; Monday, —. Atlan. and Gt. Westn. (Penns.
Sect.) Ist Mort Bonds, 1877: Thursday, —; Friday, —;
Wednesday, •—. Atlantic and Great Western (Pennsyl-
vanian Section) 2nd Mrt. Bonds, 1882: Thursday, —;
Saturday, —; Wednesday, —. Atlan. and Great
Western Consolidated Bonds, 1895; Thursday, 39/ 9 4 ;
Friday, 391 940 ; Saturday, 40 1; Monday, V 1- 1 ; Tues-
day, 421 3 ; Wednesday, 421 32; 31. Erie Shares,
$lOO, all paid: Thursday, 50 a 49 ; Friday, 491 50 ; Satur-
day, ; Monday, 491 ; Tuesday, 491 50 ; Wednesday,
50150. Erie Shares, 6 percent. Convertible Bonds: Saturday,
691 ; Monday, 681; Tuesday, —; Wednesday, 681. Illinois
Central 6 per Cent. Bonds of 1875: Thursday, ;
Tuesday, —. Illinois Central 7 per Cent. Bonds
of 1875 : Thursday, ; Saturday, ; Wednes-
day, 66. Illinois Central Shares, all paid : Thursday,
771 ; Friday, ; Saturday, 78 71 ; Monday ;
Tuesday, 78 1; Wednesday, 78}. Michigan Central 8
per cent. Convertible, 1869: Thursday, —. Panama Rail-
road, 2nd Mort. 7 percent, 1865 : Friday, 1011. Philadelphia
and Erie First Mortgage, 1881: Thursday, —; Satur-
day, ; Monday, 751 5 ; Wednesday, —. Philadelphia
and Erie First Mortgage, 1881, with option to be paid in
Philadelphia: Thursday, ; Monday, Pennsylvania
Second Mortgage Sterling Bonds, 1875: Monday, —.