The Sun.
London, England, 1866-08-25 00:00:00

MISCELLANEOUS AMERICAN NEWS.

The New York correspondent of the Herald
records some " sharp practice" on the part of the
Tribune of that city. The cost of the despatches
from Europe through the Atlantic cable is very
great ; but up to the present time the intelligence
received has not been of a very " sensational" cha-
racter. The expense is, however, borne equally by,
all the New York journals who belong to the "Asso-
ciated Press ;" and according to one of the rules of
the association a despatch sent to one newspaper—
unless upon domestic political subjects or from
Washington (the national capital) or Albany (the
State capital)—ls made the common property of all,
each journal using such special despatch paying its
proportion of the cost of transmission. The Tri-
bune, we are told, received several special des-
t oilog. from its_ _correst:ondent in. London. These'
nespatcues appeared solely in tne journal Lt,
they were addressed ; but they should have been sent
to all. This violation of the agreement led to an
extraordinary meeting of the " Associated Press." A
very sharp discussion arose between the various
newspaper publishers. Finally, the following reso- '
lution was adopted by a majority of the represen-
tatives of the several journals :—" Resolved, That
each member of the association instruct the tele-
graph company, in writing, to send every special
telegram of foreign news, which may be sent to any
newspaper, not to the office of that newspaper, but
to the office of the ' Associated Press,' there to be
manifolded and distributed at the same time to all
the members of the association."
Some time ago-we mentioned that a boat of two
and a half tons named the Red, White, and Blue
was about to sail from New York across the Atlan-
tic—her ultimate destination being Paris, where
she will figure to the sightseers of the forthcoming
Exhibition as a sample of American enterprise and
daring. This vessel has arrived in the Thames off
Greenhithe, after a most remarkable passage across
the ocean. Her crew consisted of her commander,
Captain Hudson, formerly of the United States
Navy, and his mate, P. Fitch. The captain
brought on board a favourite dog, but it had to sit on
its haunches, as its run on board comprised the
fisherman's walk—two steps and overboard—dis-
agreed with him, and he died. He might have
been useful in calms, for, if a large and powerful
animal, he could have done something to propel
the craft by sitting astern and howling. On the
18th July, at midnight, the boat struck something
very solid. All sail was set, and the shock stopped
the vessel's headway. No damage was sustained.
On the sth August they sighted and ran alongside
the barque Princess Royal, and received from her a
bottle of rum, two newspapers, and a signal lamp.
Twice she was thrown on her beam ends, and
righted without damage, but off Ushant, in a heavy
sea, she was struck by a wave, which again threw
her over, filling the cabin and cockpit, which was
cleared out by baling. At noon, on the 14th, she
made the Bill of Portland, and on the 16th she was
towed into Margate during a strong gale from
W.S.W. As there was ro chronometer on board
the vessel was worked by dead reckoning. The
master kept one watch and the mate the other.
They had 120 gallons of water on board, little of
which was used in cooking, the heavy seas prevent-
ing fires. The captain was warmly congratulated,
arid much interest was excited, especially among the
American sailors, at the marvellous passage. We
beg to tender to Captain Hudson and Mr. Fitch
our hearty congratulations on their safe arrival,
and we hope to have an opportunity of seeing the
now famous little Bed, White, and Blue. The
boat might be carried as it stands into the United
States Department of the Paris Exhibition. Ar-
rangements have already been made to show it al
the Crystal Palace.

COMMERCIAL INTELLIGENCE.
NEW Yea; Friday, Aug. 10, 1866.
Gold is steady, closing, at 1481, and Government stocks
are
all firm and in good .demand for investment. Bauk
shares are well supported ; also railway mortgages. The
tendency is still upwards, as money remains cheap, and
will probably become cheaper still. The railway share
market has been irregular, caused by the operations of
speculators taking their profits on the considerable advance
which has occurred during these few weeks. Eries con-
tinue to be the favourite with this class of operators. At
one time they were forced up to 69k, but after the call the
market drooped—new buyers not being abundant. Con-
sidering that the lino does not earn interest upon its
bonds and the money necessary to pay its leases, I consider
causes for the high price at which
there are exceptional
they are quoted. Call loans are now quoted at 4 to 5 per
cent., and Commercial 5 61 from prime to good. I send
you the Sub-TreasurY receipts arid extracts • showing the
state of the Boston, Cincinnati, and Chicago markets.
The business of the Sub-Treasury was—Receipts,
$1,059,347 19 ; for Customs, $580,000 ; payments, $601,170
10 ; balance, $86,496,014 56 ; gold notes, $lOO,OOO.
The Cleveland and Toledo Railroad Company have
issued $1,000,000 of mortgage bonds for the construction
of 25 miles of now road, to use instead of an equal number
of miles of the Cleveland, Columbus, and Cincinnati Rail-
road, which they have heretofore used for their Cleveland
terminus.
t The Cincinnatti Gag4o of WtAne§clay pays :—Tho

money market is easy for goof) paper at 54 to lO
per cent.,
but names that do not come tr? to this standard do not
pass freely. The prevalence of the cholera in all the prin-
cipal cities has the effect to dist arb, somewhat, the general
order of business, and financial transactions are couducted
with more than usual caution. So far, however, as regards
the supply of money, it may be said to be abundant, while
the offerings for discount do not indicate as healthy a con-
dition of trade as is desirable); that is to sny, money is
wanted more for old than new business. A sharp reaction,
however, is expected to set in with the Fall season. In
some quarters exchange was sear* and firmer to-day, but
as a rule the market was fully supplied at par and 50c. pre-
mium buying, and 1.10 premium, selling.

The Chicago Journal says:—The general mercantile
trade of our city is extremely dull. Reports of cholera in
Cincinnati and St. Louis keep country merchants out of
the city, and the fear of the dreaded scourge visiting us
has sent many of our citizens into tho country. The
prevailing dullness is thus in a measure accounted for,
and it is the general opinion that until the autumn trade
opens quietness will continue. The local demand for
money is limited, but the inquiry from the country banks
is more liberal and on the increase, as interior shippers are
making preparations to move the now crop. For first-
class paper the money market continues easy at 10 per
cent. Eastern exchange is in light supply and firm, at
unchanged rates.

(From E. F. Satterthwaite and Co.'s lireekly Circular,
August 22.)
Tho " Scotia" brings us intelligence of the New York
Stock market to the 7th inst. The abundance of money
reported in our last still continued, and appeared to be in-
ducing a speculative -demand for most descriptions of
Railroad gttocks, notwithstanding the decreased earnings
on most of the lines. Government securities were in re-
quest at enhanced quotations, and for Railroad Mortgages
there was more inquiry than for some time past.
Gold was comparatively steady, but with a tendency to
gradual decline.
During the past week the transactions in the London
market for American securities have been of considerable
magnitude. The large shipments of United States 5-20
Bonds have been well taken for Continental account, and
with a simultaneous home demand, an advance of two
per cont. has been established the closing quotation being
671 to 701. Illinois Central and Erie Shares have both
again been largely bought on American account, and
close at enhanced quotations, the former being last quoted
77 to 1, and the latter to 441 to 45*, a rise of $3 per Share
in each description.
Within the last two months some large lines of Atlantic
and Groat Western Debentures, which had been pressing
on the market, have been cleared out at from 49 to 50, a
considerable amount being taken in Holland, and now that
the cause for the recent depression of quotations is re-
moved, wo find Debentures difficult to buy ; they have ad-
vanced ten per cent. during the week, closing firm at 58
to 60 for the largo Bonds, and 60 to 65 for those of £lOO
each.

The Consolidated Bonds closo 42 to 44, being a rise of
three per cent. on the week.
The following is tho return of the Now York 13anks:
Discounts. Specie. Circulation. Doposits.
July 28, 256,612,071 9,701,540 27,214,981 214,582,926
Aug. 4, 256,808,717 9,448,900 27,311,519 214,156,705