The Sun.
London, England, 1866-08-18 00:00:00

SHE SUN, Lolthol4, EVENING, AUGUST 18, 18616.

allow themselves tro be carried away by the smoothness of
24 hours'events. The convoy kept their position accurately
during the day. The Terrible signalled to us at 1.45 p.m
that a man had fallen overboard. Iler cutter was speedily
lowered. The sailor had, however, laid hold of a rope
thrown to him from the frigate before the boat reached him.
At 10.45 p.m., Mr. Willoughby Smith sent in the latest
news from Europe, set up in this form :
" THE GREAT EASTER'S•TELEGRAPII,
SATURDAY EVENING, July 14, 1866. Vol. I. No. I.
"General Cialdini is moving upon Rovigo, with an army
of more than 100,000 men and 200 guns. The Austrians
have evacuated the whole country between the Mincio and
the Adige—

" Seems it not a feat sublime
Intellect hath conquered time ?"
The welcome arrival of this message (and by concert
with the shore we shall be kept advised of all the leading
European news) is a practical proof of the value of our
chief electrician's arrangements, for while the message was
being transmitted to us the insulation tests were continu-
ously going on.
The fundamental difference between last year's system of
testing and that of the present expedition is, that now all
the ordinary tests for continuity, &c., may be made simul-
taneously with the tests for insulation which is not inter-
rupted at all ; whereas last year, during half the time spent
in laying the cable, the insulation was wholly neglected, as
will presently be shown.

Last year each hour was divided into four parts. The
first half of the hour was spent in testing for insulation.
During the second half, which was divided into three periods
of 10 minutes each, tests were made to ascertain the resist-
ance of the conductor, and to prove the continuity of the
same. All these tests wore of such a nature as to afford no
criterion whatever of the state of the insulation during their
continuance, so that during the half of each hour, or, in other
words, during half the time spout in laying the cable, the
insulation test was neglected. Also, while the insulation test
was being-made, there was no means of communicating with
the shore, as the observations were taken on board only.
This year a test for insulation is constantly kept on, and by
Mr. Willoughby Smith's arrangement, corresponding ob-
servations are made both on ship and shore. At stated
times during the hour the continuity test is made at the
shore station by means of a condenser applied to the con-
ductor of the cable. The effect of this is to increase the
deflection on the ship's insulation galvanometer, thus serv-
ing as a continuity test. Communications from shore to
ship aro also made by these means. Ship can send signals
to shore by simply reversing the currentfor certain lengths
of time, answering to some understood code or by increas-
ing and diminishing the tension of the line, according to a
prearranged plan. All these operations may be performed,
without interrupting the insulation test except for a few
seconds, while the current is being reversed. So far for
the new system in the electrical room as compared with
last year. And now a word or two about the paying out
and picking up machinery of 1866 ; and we shall see how
the experience gathered from 1865 has been practically car-
ried into effect. The paying out apparatus is the same as
used last year, with the exception of a stronger drum,which
is necessary for the purpose of hauling in the cable at the
stern if required. Powerful hear has been placed by the
side of the machine, so that by means of clutches the drum
can be reversed, and the cable hauled back, in case a fault
is discovered. This gear is driven by a 40-horse power
engine, made by Messrs. Penn, and supplied with steam
from the main boilers of the ship, which insures a supply
at any moment. The hauling-in machine for grappling
placed at the fore part of the ship, is more powerful than
the one used last year, and consists of two drums of sft.
Bin. in diameter each, by 20in. broad, connected by
gear with a Penn engine of 40-horse power, similar
to that attached to the paying out machine. The rope or
cable passes over both drums, and an arrangement is made
for " fleeting" the grapnel rope or cable on the drums by
means of small rollers placed between the drums, and each
roller guiding a turn of the rope or cable as it passes from
ono drum to the other. This engine is also supplied with
steam power from the ship's main boilers. At ten minutes
past 10 p.m. the Albany was observed to drop astern, and
we learned through the medium of Colomb's admirable
flash signals, at a distance of about five miles, that she had
lost the bolt of her eccentric. At daylight, the damage
having been repaired, she was again in position. Tho sys-
tem of signalling on board is very perfect, and the convoy,
like the Great Eastern, has been supplied by the Admiralty
with experienced signalman. We sent early this morning
the news of Cialdini's advance upon Rovigo to Captain
Commerell, of the Terrible, and to Captain Batt, RN., and
Captain Prowse, R.N., who are on board the Albany and
Medway. Messages are to be sent every morning to the
convoy, giving Greenwich time, by Rede's cone telegraph.
The umbrella cone being opened two minutes previously,
at 10.30 it will bo collapsed, and the time will be given ac-
curately. Divine service was performed in the dining
saloon by Capt. Anderson. At noon to-day we had payed
out 283.24 miles, slack 7.69 per cent. Lat. 52 deg. 1 min. 15
sec. ; long. 17 deg. 29 sac.; course N. 89.40 W. Distance
from Valentia. Telegraph Office 253, from office at Heart's
Content 1,406. Another message has arrived, and has been
duly published in the Great Eastern,- Telegraph :—" Italy
has declared to Franco net to accept separate armistice.
Impressions here very warlike, chances of peace having
declined. French fleet on its way to Venice, and French
commissioners ordered to Venetia. Notice s3nt head-
quarters of Prussian army to announce armed mediation
of the Emperor.—Paris, 10th July, evening."
MONDAY, July 16.

Still everything going on well—the sea like a mill-pond.
The paying out of the cable from the after-tank progressing
with uniform certainty and steadiness, and the electrical
tests perfect. We are now paying out some of the cable of
1865. This tank contains 839.685 miles, of which there
are 267 miles of the old cable. The fore-tank, from which
we shall pay out next, holds 670.83 miles, with about three
miles of shore-end, and the number of miles stowed in the
main is 865-139. Mr. Canning calculates that we shall have
payed out the remaining portion of the old cable by to-
morrow morning, and if nothing arises in the way of acci-
dent by Thursday night or early Friday morning the after-
tank will be emptied. We ought to be then pretty nearly
half-way to Heart's Content. .
We had a second edition of the Great Eastern Telegraph
at dinner yesterday giving us the following news, which
was speedily transmitted later in the evening by Colomb's
flash signals to Capt. Commerell, of the Terrible, who can
lay claim to being the first captain of her Majesty's navy
who enjoyed the luxury of getting news from Europe twice
a day on the Atlantic Ocean :
"China arrived, with news from America, via Halifax.
Money abundant ; gold 153 k. Exchange on London 167.
Dreadful fire at Portland ; half city burnt ; 2,000 families
homeless ; damage 10 million dollars.
" Saturday's News—No alteration in bank rate. Prus-
sians have declined armistice. Consols 871. Cork steamer
Osprey in collision with H.M.S. Amazon, for Halifax off
Portland, July 6. Both foundered. Dozen drowned. Rest
reached Torquay in boats. Amazon put helm hard star-
board."

Our track is about 30 miles to the south of that of last
year, and at that distance we passed parallel to where the
telegraph cable parted in August, 1857. The depth of
water during yesterday was between 1,950 and 2,100
fathoms. Temperature 58 deg. Average strain indicated
by the dynamometer, 10.54. Our average speed has been
about five knots. We were obliged to stop the screw en-
gines in order to bring her down to that speed, and, more-
over, to reduce the paddle boiler power. Capt. Anderson's
ingenious mode of cleansing the ship's bottom, which he
sedulously carried out during last winter at Sheerness, has
proved to have effected this very desirable object ; for Mr.
Beckwith, the engineer, is now enabled to regulate and
adjust her speed and get more out of the ship, if necessary,
than he could last year, when her bottom was an encrusted
mass of mussels.

We exchange latitude and longitude daily with the ccn
voy. Staff-Commander Moriarty takes his observations -in-
dependently, and Captain Anderson and his officers take
theirs ; so whenever the sun gives them a chance many
sextants are at work.
More news from Valentia ; but, alas! how sad in some
respects :
" Cholera broken out in Liverpool—several deaths. Yel-
low fever raging in Vera Cruz. Birmingham Banking
Company stopped payment on Saturday—liabilit;es over
two millions-800 shareholders. Darmstadt, July 12, 2
a.m.—Princess Louis of Hesse gave birth to &princess. S.S.
Hibernia left Greencastle for Quebec, 6 a.m., Friday.
Drammen, Norway.—Fire-300 houses burnt-6,000 per-
sons homeless, July 13th. House of Lords, Friday.—En-
field rifles to be converted into breech-loaders."

Capt. Moriarty has just issued his bulletin. We learn
that at noon to-day we had payed out 420.12 miles of cable;
Per centage of slack, 11.08 ; distance from Valentia, 378.2;
front Heart's Content, 1,290 miles; lat. 52 deg. 6 min., lon.
20 deg. 36 min.

TUESDAY, July 17.
Another 24 hours of uninterrupted success. All day yes-
terday it Was so calm that the masts of our convoy were
reflected in the ocean, an unusual thing to see. A large
shoal of PorPoissga.l liter,3ll balled about us for half an hour. A
and glorious sunset, a crescent moon, which we hope
to See in the
before tbe brightness
htntses,,ot.Yef her full, lighting our way into
Trinity
s of this July shall have ended.
At 7.55 a.m. Greenwich timer, the remaining portion of the
p
cable of 1865 had been
out of the tank, and we are
now rapidly getting rid of the cable. At 9.10 the screw
revolutions, lu t i. o u s ,
engines were slowed to 18
svred and the paddles
slowed to four. Our average
about five. The strain indicated by the
encde we left has been
yesterday at 12 o'clock has baen 11. After
rmometer since
min.
we.
;
saw a barque to the northward, steering eastward
Our progress up to to-day is thus indicated' in. the °fiL
cial paper posted in the cabin : —Cable payed out, 557.82.
tni
Slack on distance, 12.44. Lat. 52 deg. 15
long. 23
deg. 48 min. Distance from Valentia Office, 496.1. To
Heart's Content Office, 89 35 W., 1,173. Depth of water,
1,950. Wind south.
News from London just as we were at lunch :
" Prussians had successful engagement before Olmutz
yesterday. Captured six guns. Further fighting expected
to-day. Anstrians withdrawing from Moravia towards
Vienna. London, Tuesday."

WEDNESDAY, July 18.

A fresh breeze from the southward. A dull grey sky
with occasional rain andamoderate sea, prevailed frPin noon

yesterday. At 5.28 p.m., Greenwich time, a bell in con-
nexion with the electrical-room sounded in the tank. Mr.
Temple, one of Mr. Canning's staff, being on duty, imme-
diately pressed the valve of the steam whistle which is fitted
at Mr. Latimer Clarke's suggestion at the stern, and com-
municates by compressed air through piping to the screw
paddle-engines and helm—a similar apparatus being fitted
in the bows of the ship. The signal was so promptly
answered by the engineers that the Great Eastern was
stopped in less than her own length. Mr. Clifford, hearing
the bell, ran at the top of his speed to the paddle-engines
hatchway, but long before he could reach it they were
stopped. Of course great anxiety arose to ascertain what
was the matter. We were all delighted to learn that it was
a false alarm. One of Mr. Willoughby Smith's assistants
ha€l, by mere accident, touched the spring of the bell. We
had, however, practical proof from this incident that every
one was at his post ; and Capt. Anderson, ever thoughtful
and watchful, took advantage of what had occurred to
makasome alterations, in concert with Mr. Canning, in the
instrucOons to the officer on duty, so that he should ver-
bally comnrmicate with the engineer if a similar alarm
was given, and not' trust entirely to the whistle system,
effective though it fa in working. All went on well until
12.20 a.m., Greenwich Orne, when the first real check was
given to the success which had hitherto attended us, and
this time we had real cause to be alarmed. A foul flake took
place in the after tank. The engine.° Were at once turned
astern, and the paying out of the cable stdpPed. We were
All soon on the deck, and learned that the runt' °g or pay-
ing out part of the coil had caught three turns of th,:lilake
immediately under it, carried them into the eye of the cog,
fouling the lay-out, and hauling up ono and a half turns
from the outside, and five turas in the eye of the under
flake. This was stopped, fortunately, before entering the
paying-out machinery. Stoppers of hemp, also, were put
on near the V wheel astern, and Mr. Canning gave orders
to stand by to let go the buoy. This was not very cheering
to hear, but his calm and collected manner gave us all con-
fidence that his skill and experience would extricate the
cable from the obvious danger in which it was placed. No
fishing line was ever entangled worse than the rope was
when thrust up in apparently hopeless knots from the eye
of the coil to the deck. There at least 500 feet of rope lay
in this state, in the midst of thick rain and increasing wind.
The cable crew set to work under their chief engineer's in-
s'ruction to distentagle it. Mr. Halpin was there, too, Pa-
tiently following the bights as they showed themsel Yea
the crew now passing them forward, now aft, until at last
the character of the tangle was seen, and soon it became
apparent that ere long the cable would be cleared. All this
time Capt. Anderson was at the taffrail anxiously watching
the strain on the rope, which he could scarcely make out,
the night was so dark, and endeavouring to keep it up and
down, going on and reversing with paddle and screw.
When one reflects for a moment upon the size of the ship,
and the enormous mass she presents to the wind, the diffi-
culty of keeping her stern, under the circumstances, over
the cable can be appreciated. The port paddle-wheel was
disconnected, but shortly afterwards there was a shift of
wind, and the vessel canted the wrong way. Welcome
voices were now heard passing the word aft from the tank
that the bights were cleared, and to pay out. Then the
huge stoppers were gently loosened, and at 2.5 a.m., to the
joy of all, we were once more discharging the cable. They
veered it away in the tank, to clear away the foul flake,
until three a.m., when the screw and paddle-engines were
slowed, so as to reduce the speed of the ship to 41 knots.
During all this critical time there was an entire absence of
noise and confusion. Every order was silently obeyed, and
the cable-men and crew worked with hearty good-will, Mr.
Canning has had experience of foul flakes before this, and
showed that he knew what to do in the emergency.. But
what of the electrical condition of the cable during this
period ? Simply that through its entire length it is perfect,
or, as it is technically called, "0. K." We lost the Terrible
in the thickness of the night, and, save for a few minutes,
did not see her till seven this morning. The Albany and
Medway showed on the starboard and port-quarter at five
a.m. The weather is still very hazy. More messages
through the cable, which shall be duly recorded ; for when
this diary is circulated among the newspapers of the United
States within ten days from this date, earlier intelligence
of European news will be distributed than can be obtained
in any other way. Here are the messages of yesterday's
Great Eastern Telegraph:—
"6.0 p.m.—Home news—Money-market firm. Bank rate
10. French Funds risen } per cent. Birmingham Bank to
be wound up in Chancery. Much local but no general suf-
fering. London prices unaffected. Ex-Chief Baron Pollock
to be a baronet. Lord Henry Lennox is now Secretary.to
the Admiralty.
"Foreign Nows.—Cialdini occupies Padua and Vicenza
both on the lino of railway connecting Verona and the
Quadrilateral with Venice. Padua is only 23 miles from
Venice. The only Austrian troops now having railway
connexion with Venice are those in Venice itself. Con-
flict between Prussians and Federals on 13th. Prussians
completely victorious. Federals evacuated Frankfort.
Prussians marching there. Among conditions of peace
Prussia and Italy include the re-establishment of Hun-
gary. Count do Chambord's palace at Vienna is offered
for sale.

" Racoon leaves Valentia 10-morrow for Queenstown."

This message, which consists of 136 words, was sent
through the whole cable without the slightest mistake at
the rate of 11 words per minute, the insulation test going
on all the time.

Distance run to noon to-day 600.2 miles. Cable payed
out 682.48. Percentage of slack 13.63. From Heart's
Content 1068.8. Lat. a deg. 1 min. N. Long. 26 deg.
37 W.

THURSDAY, July 19.

. -
There was a fresh breeze in the afternoon yesterday, in-
creasing towards evening. It brought a heavy swell on
the port-quarter, which caused the ship to roll. The pay-
ing out from the after-tank went on steadily. Two of the
large buoys were lifted by derrick from the deck, near the
bows of the ship, and placed in position on the port and
starboard side of the forward pick-up machinery, ready
for letting go, if necessary. The bun went down with an
angry look, and the scud came rapidly from the eastward,
the sea rising. A wind dead aft is not the best for cable
laying, particularly if any accident should take place. By
11.30 p.m. to-night we shall have exhausted the contents
of the after-tank, and the cable will then be payed out from
the fore-tank along the trough to the stern, the distance
from the centre of the tank to the paying-out machinery
being 494 feet. Last night the swell was very heavy, to
which the Great Eastern proved herself not insensible.
Her rolling, like everything else appertaining to her, is
done on a grand scale. We see the liveliness with which
that operation is performed on board the Albany and
Medway, and we are not at all disposed to be too critical
in our observations on our own movements. The sk:teed
of the ship was kept at 4} during the night ; the slower
the better is the opinion of all on board.—Festina lente.
We are consuming about 100 tons a-day of the 7,000 tons
of coal which we had on board when we left Berehaven ;
and Mr Beckwith, who has been engineer of the Great
Eastern from her first voyage to the present moment, says
her engines were never in better order ; and their appear-
ance and working do him and his able staff of assistant
engineers the greatest credit.

The news from Valenti; station, as published in the
Telegraph, is as follows :

" Wednesday, 9 p.m.—English funds risen per cent.
Stock Exchange rate for short loans on English Securities,
5 and 7 per cent. General rate for good paper 9 and 9i
per cent.

" House of Commons, Monday night.—New Ministers
took their seats. Attorney-General said it was not intended
to proceed with Bankruptcy Bill this session. In reply to
several members General Peel said rifles altered to breech-
loaders would be ready for our troops before end of financial
year. Gladstone withdrew Reform Bill. Verdict of murder
against Dr. Warder of Brighton, for murder of his wife.
Fifteen deaths from cholera at Liverpool. Prince of Wales
and Duko of Edinburgh visited Miantonomah, Saturday.

"America—Maryland had decided upon excluding negro
testimony from the courts at Smyrna. Fight between
soldiers and negroes at Atalanta. Fight between citizens
and negroes. Sweeny urges Fenians to continue their
preparations. Cholera gone from New York.
" Thursday, 19th, 7.33 a.m.—Prussians repeating vic-
tories and gaining adhesions from small States. The main
army within 50 miles of Vienna. Have cut the railway to
Vienna. Austrian army between Prussians and Vienna
under Archduke, 160,000 men. Money and archives re-
moved from Vienna to °morn. Armament of French fleet
stopped. The Italians occupy Borgo Forte. Fleet left
Ancona. Moniteur denies Emperor contemplates armed
mediation. Great preparation at Cronsta.dt for grand re-
ception of Captain Fox, bearing address from American
Congress congratulating Czar on his escape from assassi-
.9l377i lBe.s .
FCraobml e
upeaayr
te,d
out, 811.14. P s
nation."
Percentage Distance run to noone of
to-day,
a ys
slack,
W. 2,177 fms. Wind East.
Content, 956.1. Let. 51 deg. 54 min. 30 sec. N., long. 29.39
Depth of water,
FRIDAY, July 20.
Yesterday
nd still from the east-
in every respect satisfactory. The w
was a day of complete success, the paying out
i
ward, but inclined to draw to the north, the sea entirely
w
gone down. As Mr. Canning told us we should see the
after-tank emptied at 11 o'clock (ship's time)
not
for
collected there about 10 o'clock, by which timee were all
the cable
was down to the last flake. Next to having daylight
changing from the after to the fore tank, we could d
have had a more favourable time—clearstarlight, no win
and a smooth sea. Looking down into the scene was
highly picturesque. The cable watch, whose figures were
lighted up by the lamps suspended from above, slowly and
cautiously lifted the turns of the coil to ease their path to
the eyo, as each found its way to the drum. The wooden
floor of the tank showed itself, and then we saw more floor,
and as its area increased the cable swept along its surface
with a low subdued noise, until with graceful curve it
mounted to the outlet where it was soon to join a fresh
supply. And now we hear the word passed that they have
arrived at the last turn, and then the men who stand on
stages of the platform of the eye with the bight, watch the
arrival of the cable and pass it up with tender caution until
it reaches the summit, then it rushes down a wooden in-
cline to meet the spliced rope which had by this time come
down along the trough leading to the forward tank. This
operation was conducted with great skill by Mr. Canning
and his experienced assistants,blessrs. C fford and Temple.

At 11 a.m. (Greenwich) the fresh rope was going over the
stern, and thescrew engines going ahead at 1.13. A watch
of four men is now stationed fore and aft along the trough,
which is illuminated by lamps at short distances fromeach
other. A lamp with a green light indicates the mile mark
as it comes up from the tank, and this signal is repeated
until it reaches the stern, where it is recorded by the
clerk, who keeps•the cable log in an office adjoining the
paying-out machinery. A red lamp indicates danger ;
during the day-time red and blue flags are used. All
through the night the sea smooth as glass, and this morn-
ing we saw that a sensible impression had been made on
the contents of the fore tank of cable, underneath which is
three miles of shore end. The after tank hold 839 miles.
The ship begins to lighten at the bows, and by this time
to-morrow will come up more as the cable passes out of the
tank. At 7.30 a.m. we saw a ship-rigged vessel to the
northward steering about E. by S., distance seven or eight
miles. The wind shifted to S.W. about daybreak. Terri-
ble, Albany, and Medway all in position.
News comes to the Great Eastern Telegraph as regularly
as Mr. Reuter sends it to the London newspapers. Here, is
what reached us yesterday : _

" Money well supported at yesterday's improvement.
Great Western and South Eastern Railway stock 11. per
cent. Money is easy on Stock Exchange. Short loans on
Government securities 7to 6per cent. Mrs. Gordon declines
to prosecute ex-Governor Eyre. Mr. Berkeley's Ballot
motion lost, 197 to 119. Commission to inquire into the
condition of mercantile marine—causes of falling off in
numbers and efficiency in last 20 years. Mr. Henley ob-
jected to Government action. Sir Stafford Northcote ob-
jec'ted also, but pledged Government to institute full in-
quiry mid the subject.--Motion withdrawn. Parliament to
be prorogued August 4th. Lord St. Leonards gave notice
of motion that should severance between Church at home'
and colonies take place, endowments of latter should revert
to donors. Frankfort is occupied by Prussians, who are
advancing on Vienna. Negotiations for a three days
truce between Prussians and Austrians have failed. All
Austrian troops still in Vienna have retired to fortresses.
ltaly.—Volunteers defeated by Austrians at Condino 16th
inst. Prince Napoleon has gone from Paris on a special
mission to head-quarters of Victor Emmanuel. 100 to 80
against Gladiateur for Goodwood Cup. 33 to 1 agst Dragon
for Derby, 1867. Zara, 19th July.—Yesterday Italian fleet,
consisting of ironclad vessels and several steamers, opened
attack on the island of Lissa, on the coast of Dalmatia.
Result not known. .

T.ondon, Friday Morning —Moniteur announces Prussia
accepted lad.cais arrangement proposed by Napoleon. Agreed
to abstain from hostilities for five days to await Austria's
reply."
Distance run to noon to-day 8304. Cable payed out
938.6. Percentage of slack 13.03. From 11.2 art's CJateut,
838.3. Course S., 81 W. Lat. 51 deg. 36 min., long. 32
deg. 47 min. 30 sec.
SATURDAY, July 21.

Yesterday was our seventh day of paying out cable, and
so far we have been ;more fortunate than the expedition
of last year. During the same period in 1865 two faults
had occurred—one on the 24th July, the other on the 29th
—causing a detention of 56 hours. At 3 p.m. we were
half-way, and passed where the Atlantic cable of 1858
parted twice—on the 26th and 28th of June. Sad memories
to many ! We feel, however, that every hour is increasing
our chance of effecting this great work. " I believe we
shall do it this time, Jack," I heard one of our craw say to
another last night. " I believe so too, Bill," was the re-
ply, "and if we don't we desarves to do it, and that's all."
It blew very hard from two o'clock yesterday up to 10
p.m., by which time the wind gradually found its way
from south-west to north-west, which is right ahead, just
what we want for cable-laying. The Terrible and the two
other ships plunged into the very heavy sea which the
sou'-wester raise, and we made up our minds from what we
saw that the Great Eastern is the right ship to be in a gale
of wind. During the night heavy showers of rain. This
morning the sea is comparatively smooth, and the sky
shows welcome patches of bright blue. If all goes well we
shall be up to-morrow evening at the :place where last
year's cable parted. A couple of days would bring us to
shallower water, and then wo may fairly look for our
" Heart's Content." Messages come from England with the
news, regularly and speedily ; excellent practices for the
clerks on shore and on board ship; great comfort to us, and
the best evidence to those who will read this journal of the
great fact that up to this time the cable is doing its electric
work efficiently. Yesterday's Great Eastern Telegraph gave
us the following intelligence :—" Prussians crossed river,
march near Holitzon, llungary. Reform League announced
intention to hold demonstration in Hyde Park, notwith-
standing prohibition of police. Consols risen 4 per cent.
Steady demand for United States Bonds, which have risen
1 per cent. Money plentiful on Stock Exchange; rate for
short loans, Government securities sto 6 per cent. House
of Commons—Mr. Creasy withdrew his Elective Franchise
Education Tests Bill. Election Returning Officers Bill for
giving no votes referred to select committee. Debate on
second reading of Mr. Gladstone's Church-rate Bill; Mr.
Disraeli offered no objection to it, but could not pledge the
Government to oppose the third reading. First dinner of
the Cobden Club met Saturday, at the ' Star and Garter,'
Air. Gladstone in the chair, supported by Earl Russell.
First delivery of breech-loaders at War Office, 4th August.
Italians attacked Borgo Forte on 17th ; Austrians with-
drew, leaving guns, munitions, and provisions ; Italians
had enthusiastic reception from inhabitants. An influen-
tial deputation from Glasgow to Chancellor of the Exche-
quer, praying for a commission to inquire into working of
Bank Act. National Rifle Association's annual camp
gathering on Wimbledon Common, going off very merrily.
A member of the London Scottish won the Queen's prize;
common illuminated every night. Theatrical concerts and
hospitable festivities in honour of the Belgian volunteers.
Grand volunteer review in Hyde Park to-morrow (Satur-
day).

"London, Saturday Morning.—Java arrived, New York
11th. Creoles revolted against Spauish Government at
Puerto Principi, 27th. Four Chili= ships disembarked
2,000 men to assist insurgents. Lord Stanley declared last
night in Commons, England's policy pacific, observant, free
from all engagements. Austria accepted proposal Prussia
abstain from hostilities for five days, during which Austria
will have to notify acceptance preliminaries."
The observations of the day place the ship in lat. 51 deg.,
18 min., long. 36 deg. 1 min. Course, S. 81, 30 W. Wind
N.W. Distance run, 952.3 miles. Payed out 1,074.33
nautical miles of cable. 716.7 miles from Heart" Content
in 1,800 fathoms of water. Average strain on the dyna-
mometer 14. The cable touches the water at a distance of
about 230. feet from the stern, and the angle it makes is
generally 10 to 12. The weather looking fine, but it is
variable between long. 30 and 45 deg., even at this time of
the year.
SUNDAY, July 22.

Still success to record. A bright, clear day, with a fresh
and invigorating breeze from the north-west. Cable going
out with unerring smoothness at the rate of six miles an
hour. There has been great improvement in the insula-
tion. On leaving Sheerness tha resistance of the gutta-
percha per knot was about 800 million ohmads, as they are
scientifically called, or in other words, " units." It is now
about 1,900 million units, which shows an increased resist-
ance of 5,000 millions per knot on the portion already laid.
It must be borne in mind that this result has been ob-
tained by tests made through the whole length of the cable,
both that part of it already submerged, end that remaining
on board ship; and that this remarkable improvement is
attributable to the greatly decreased temperature and
pressure on tho cable in the sea. This is a very satisfac-
tory result to Mr. Willoughby Smith. Signals, too, come
ever hour with great distinctness.
This morning the breeze freshened. We are now about
30 miles to the southward of the place where the cable
parted on the 2d August, 1864, having then payed out
1,213 miles.

Captain Anderson read Div* service in the dining
saloon.

The following telegram arrived, and was published in
yesterday evening's edition of the Great Eastern Tele-
graph. :

" London, Saturday, Noon.—The following are to-day's
quotations :
Atlantic £l,OOO shares
Ditto 8 per Cent. Preference
Anglo-American
T. C. and M. Company l i to dis.
Funds advancing, E, firm. Preston Banking Company has
stopped payment. Shares firm, except Atlantic Preference,
which are flat at 3to I. Marquis of Abercorn installed as
Lord-Lieutenant yesterday. Reformers persist in holding
meeting in Hyde-park. Sir Richard Mayne has asked Mr.
Beales to interfere, who declined on constitutional grounds.

"Per Java.—General Sickles at Charleston has refused
to respond to Habeas Corpus ; pleads privilege. Mr. Stan-
ton orders resistance by force, while the President orders
Sickles to answer writ. Money abundant at Now York.
Exchange in London 153.

"Severe naval engagement yesterday off Lisse. Aus-
trians claim victory. Sank one Italian ironclad, run down
another, blew up a third."
This morning brings another message.
"Sunday, July 22.--Lord Shaftesbury has protested
against reform meeting. Discussion in House of Commons
on turret gunships. Sir John Pakington admitted that
England is behind other nations. Some sparring between
Sir George Bower and Mr. Gladstone, as to real cause of
England's sympathy with Italy. A long letter published
from the King of Prussia to his Qaeen, giving her Majesty
account of battle of Konigsgratz."
Noon. -Lat. 50 deg. 48 min., long. 39 deg. 14 min. Course
S. 76 20 W. Wind AV. 3S. Distance run 1,075.7. Payed
out
Depthup
of towater,toda 1,5
yl9,2oo7f.a4t7h.omFs.rom Heart's Content, 593.3.
MONDAY, July 23.

Between 6 and 7 p.m. yesterday we passed over the
deepest part of our course. There was no additonal strain
on the dynamometer, which indicates from 10 to 14, the
cable going out with its accustomed regularity, the wind
still fresh from the north-westward. During the night it
went round to the south-west, and this morning there is a
long roll from the southward.
At 11.46 a.m. Mr. Cyrus Field sent a message to Va-
lentia, requesting Mr. Glass to obtain the latest news from
India and China, so that on our arrival at Heart's Content
we shall be able to transmit it to the principal cities of the
United States. In just eight minutes he had a reply in
these words :—" Your message received, and is in London

by this." Outside the telegrapli-idom there is a placard
put up, on which is posted the neWs shortly after its
arrival ; and groups of the crew may be seen 'reading
it just as we see a crowd at a newspaper office in London.
Mr. Dudley, the artist, has made a very spirited sketch of
"Jack" reading the contents of the morning telegraphic
news of the Times, Printing House-square being distant in
or about 1,600 miles. On board the Great Eastern—ship
of luxury—he has been supplied with the latest intelligence
from the seat of war twice a day. How he will grumble
when he gets ashore. He is not going to pay a pound a
word for news, but his newspaper will supply it to him, and
he does not know or care what it costs. But what a sum
has been spent in Atlantic telegraphs. It cannot now fall
short of two millions and a half, or over twelve millions of
dollars. More millions will be found if it shall be practi-
cally proved that America can permanently talk to Eng-
land, and through her to the Eastern Hemisphere, and Eng-
land to America by the ocean wire.

At a quarter to twelve to-day but 215 miles of cable re-
mained to be paid out of the fore tank. Towards night
wo hope to see it empty—then for a small supply from the
main tank, and then but, hopeful though we are, let us not
anticipate.
The following is just to hand :
" Five days armistice between Austrians and Prussians
commenced noon to-day. More fighting in Tyrol, at Valoi
Ledra, yesterday. Austrians claim victory."
Noon—Lat. 50 deg. lb min. 48 sec., long. 42 deg. 16 min.
31 sec. Course 74 S. 83 W. Wind S.S.W. Distance run
1,196.9. Payed out 1,315.24. From Heart's Content
472.1. Depth of water 2,050 fathoms.
TUESDAY, July 24.
Breakfast ai eight. Lunch at one. Dinner at six. Tea
at eight. 502 souls who live on board this huge ship fol-
lowing their prescribed operations. Cable going out merrily.
Electrical tests and signals perfect, aad this is the history of
what has taken place from noon yesterday to noon to-day.
May we have throe days more such delightful monotony.
It rained very hard during yesterday evening, and as we
approach the banks of Newfoundland we get thick and hazy
weather.

Tho Great Eastern Telegraph publishes the following:—
"Austrians have accepted preliminaries peace proposed
by Prussians, which excludes her from new German Confe-
deration to be organised by latter. Baring Brothers announce
that large remittances aro on their way to pay the dividends
on the Mexican Bonds. Consols, money, 881 to I. No
alteration in Bank rate expected for a week or two. Lia-
bilities of Preston Banking Company stated to be
£1,500,000, paid-up capital £lOO,OOO. Opening dinner of
Cobden Club a great success on Saturday. Founded after
Pitt and Fox Clubs. Fifty members. Speeches from Mr.
Gladstone, Earl Russell, and Mr. Stuart Mill. King and
Q•iecn of Belgians have returned to Brussels, after a
triumphal tour through their dominions. Court-martial
on sinking of Amazon resulted in honourable acquittal of
Commander T. Hunter. Notice of question on this subject
in the house to-night, and of five days' armistice confirmed.
Ntws of this morning consider Prussia has fully justified
her threats by deeds, and that the Prussian army is better
in every particular than the Austrian. The Daily News
considers that the security of the Austrian monarchy does
not require another battle to be fought, and hopes that no
delusive ambition as to leadership in Germany will turn
the Emperor from thoughts of peace. English Ladies' As-
sociation, formed for relief of sick and wounded prisoners
of all sides in Germany and Italy. Countess of Shaftes-
bury, Miss Nightingale, Madame Lind-Goldschmidt, and a
powerful committee. Some disturbance is expected in
Hyde-park this evening. The Home Secretary and Sir
Richard Mayne are determined to prevent the proposed
political gathering, while the advanced reformers are
equally resolved on holding it. Mr. John Bright asks, by
letter, on what foundation does our liberty rest if the right
to hold a public meeting in a public park is denied. Spe-
cial still first favourite for Goodwood Stakes. Twelve
o'clock prices :—Atlantic £l,OOO Shares, 250 to 300 ; ditto
Eight per Cents., Ito 1 ; Anglo-American, 91 to ; T. C.
and M. Company, Ito I dis. Italian ironclad Re du
Italia, sunk by Austrians, was built in An'erica. Bombay,
July 10, 4 p.m., 71b. shirtings, 7r. Ba. ; cotton quiet.
Exchanges on London, 2s. Calcutta, July 8,11 b., shirt-
ings, Br. 12a., 40s. Mule twist, 81a. Exchange on Lon-
don, 2s. oid. Italy agreed to suspension of hostilities.
Reform demonstration in Hyde-park yesterday. 1,500
police, detachment Guards present. Park gates closed. Mob
break down railings, forced entrance, several people injured.
Horse Guards charged the mob, but did not use their swords.
Times says peace may be looked upon as virtually concluded
and that Germany is henceforth closed to all intents and
purposes. In Commons Monday night, Lord Stanley said
Cabinet most anxious to remove any irritation arising out
of cases connected with war with North and South ; could
not say what answer would be given if claimispreferred by
American Cabinet. English Government intended to issue
Royal Commission to inquire into neutral laws, and if pos-
sible to revise them."

Noon—Lat. 49 dog. 54 min., long. 45 deg. 21 min. Course,
75 5.13 W. TV iud W.N.W. Distance run up to to-clay,
1,317.4 miles. Payed out, 1,480.66 miles. From Heart's
Content, 351.6. Depth of water, 2,225 fathoms. Percentage
of slack, 12.35.
WEDNESDAY, July 25.

Fog and thick rain; ju3t the weather to expect on ap-
proaching the banks of Newfoundland. Tho convoy keep
their position, and though sometimes the fog hides the ships
from our view, yet we know where they are by their signal
whistles—two from the terrible, three from the Medway,
and four from the Albany—which is replied to by a pro-
longed single shriek from our whistle. At 1.52 Greenwich
time (ship's time 10.45 p.m. last night), the fore tank being
nearly empty, preparations were made for passing the bight
of the cable into the main tank. At 2.15 all the jockey
wheels of the paying out machinery were up and the breaks
released. At 2.23 the bight was passed steadily and cau-
tiously -by the cable hands outside of the trough to the
main tank, and at 2.35 the splice went out over the stern
into 1,542.8 fathoms. By arrangement with Sir James
Hope, the admiral of the North American station, who has
received instructions from the Admiralty to give the pre-
sent expedition every assistance in his power, a frigate or
sloop will be placed in long. 48 deg. 25 min. 52 sec., which
is just 30 miles from the entrance to Trinity Bay, and 60
from Heart's Content. She will probably hang on by a
kedge in that position, which shows the " fair way" right
up the bay, and if it be clear we ought to see her about day-
break on Friday morning. The fog was very thick this
morning, but occasionally lifts. As long as the wind is
from the south-west we cannot expect clear-weather.
The news of to-day is as follows :

"Loudon, 9 a.m.—Riots Tlyde-park renewed last evening.
Police attacked with stones and brickbats. Soldiers, horse
and foot, called out. Attacks on private property as night
approached. Parliament will be immediately asked to gua-
rantee £4,000,000 for construction of Inter-Colonial Rail-
way from Halifax. Prussian army engaged 35,000 Aus-
trians before Presburg. Prussians victorious. Occupation
of Presburg prevented by news of armistice. New York,
14th, Evening.—Gold, 152}. Randall appointed Post-
master-General, vice Denison, resigned. Political differ-
ences with President. Times City article announces pro
bable completion of Atlantic Cable Friday next. Atlantic
shares active; transactions at an improvement. American
breach between President and Congress widening. Reported
that Stanton, Harland, and Speed, will also resign. Wed-
nesday.—Owl says Cabinet entirely occupied yesterday with
Hyde-park riots. In Lords, Tuesday, Derby deplored riots
—object intimidation, not full discussion. If necessary spe-
cial constables should be called out. Granville said Go-
vernment should be supported. Commons discussion also
on riots. Sir George Grey also supported his view that
meetings should be held in park. Gladiateur scratched for
the Goodwood Cup. No other change."
Noon.—Lat. 42 deg. 20 rain. 40 sec.; long., 48 deg. 10
min. 40 sec. Distance run 1,430. Cable payed out 1,610.53.
Percentage of slack 12.62. Distance from Heart's Content
239.8 miles. _ _

THURSDAY, July 26.

All day yesterday it was as " thick as mustard." We have
had now 48 hours of fog. Though it lifted a little this morn-
ing at 5 a.m. it still looks like more of it. Captain Anderson
signalled to the Albany at 10.15 last night to start at day-
break and proceed to lat. 43 deg. 25 min., long. 52 deg. 30
min. to discover the station ship and report us at hand.
Should she fail to find her, then to try and make the land,
and guide us up Trinity Bay. Another signal was sent at
12.30 to the effect that the Terrible and Medway would be
sent ahead to meet the Albany and establish a line to lead
us in even with a fog. The Albany started at 3.30. At 4.45
(Greenwich time) the cable engineer in charge took one
weight off each brake of the paying out machinery. At
7.40 all weights taken off ; the assumed depth being 300
fathoms. The indicated strain on the dynamometer gra-
dually decreasing. Speed of ship 5 knots. Wind variable
from S.W. to N.W., and then N.B. to E. Wo are going to
try and pick up the cable of 1865 in 2,500 fathoms, and
we mean to succeed too; therefore, should the cable we
are now paying out part it can be understood how easy it
would be to raise it from a depth of 300 fathoms. At 8.55
we signalled to the Terrible to sound,:and received a reply
—l6O fathoms. At 11.30 we informed her that when at
the buoy off Heart's Content she should have her paddle-
box boat and two cutters ready to be alongside immediately
for holding the bight of the cable duaing the splice and
laying the shore end. The Medway was told at the same
time to prepare two five-inch ropes and two large mush-
room anchors, with fifty fathoms chain for anchoring dur-
ing splice in 170 fathoms water,' and we intimated to her
that when inside Trinity Bay we should signal for two
boats to take hands on board her for shore end.

News of to-day. —Telegram from Mr. Glass in reply to
one from Mr. Canning :—" I congratulate you all mcst
sincerely on your arrival in 130 fathoms. I hope nothing
will interfere to mar the hitherto brilliant success, anti that
the cable will be landed to-morrow 0. K."
"London, 12 o'clock.—Prices.—Anglo-American, 10+ 2
Atlantic Eight per Cent„ 31 4; T. C. and M. Co., I I
dis. ; Atlantic £l,OOO, 275 300.
"NO further park riots anticipated. Money market
rapidly improving. Reduction of Bank rate, if not one
per cent. to-day, probably two per cent. next Thursday.
"No interruption reported peace negociations. Times
says, but for armistice, Italians would now have been in
full possession of Southern Tyrol. Prussians organising
Hungarian Legion ; 9,000 men ready to enter Hungary,
with a Prussian corps d'armee, on expiration armistice.
Rumour of Italian Five per Cent. Loan to raise £6,000,000,
at 455.

"Reform League announce meeting Monday next iu

Hyde-park by arrangement with Government. Homo See-
retary writes that no promise made or answer yet given to
application for leave to hold meetings."
Noon—Lat. 48 deg. 45 min., long. 51 deg. 16 min. 30 sec.
Distance run, 1,558.2. Cable paid, 1,744.08 miles. Percent-
age of slack, 11.93. Distance from Heart's Content, 110.8
miles. Depth of water 130 fathoms.

. .
FRIDAY, July 27.
Shortly after 2 p.m. yesterday two ships, which were
soon made out to be steamers, were seen to the westward,
and the Terrible steaming on ahead, in about an hour sig-
nalled to us that H.M.S. Niger was one of them, accompa-
nied by the Albany. The Niger, Capt. Bruce, sent a boat
to the Terrible as soon as he came up with her. The
Albany shortly afterwards took up her position on our star-
board quarter, and signalled that she spoke the Niger at
noon, bearing E. by N., and that the Lily was anchored
at the station, at the entrance of Trinity Bay, as arranged
with the admiral. The Albany also reported that she had
passed an iceberg in lat. 41 dg. 31 min., long. 52 deg. 10 min.
about 601 t. high. At 20 after 4 p.m. the Niger came on our
port side, quite close ; and Capt. Bruce sending the crew to
the rigging and manning the yards, gave us three cheers,
which were heartily returned by the Great Eastern. She
then steamed ahead towards Trinity Bay. The Albany was
signalled to go o!.. immediately to Heart's Content, clear
the N.E. side of the harbour of shipping and place a boat
with a red flag for Captain Anderson to steer for anchor-
age. Just before dinner we saw on the southern horizon,
distant about ten miles, an iceberg, probably the one
which the Albany met with. It was apparently about
50 or 60 feet in height. The fog came on very thick
about 8 p.m., and about that and ten we were con-
stantly exchanging guns and burning bluelights with
the Terrible, who, with the Niger, went in search of the
Lily station ship. The Terrible having been signalled to
come up and take her position, informed us that they had
made the Lily out, and that she bore them about E.N.E.,
distant four miles. Later in the night Captain Commerell
said that if Capt. Anderson would stop the Great Eastern,
he would send the surveyor, Mr. Robinson, R.N., who
came out in the Niger, on board of us ; and about three
the engines were slowed, and the Terrible, but very shortly
afterwards, came alongside with that officer. Catalina
Light, at the entrance of Trinity Bay, had been made out
three hours before this, and the loom of the coast had also
been seen. Fog still prevailing ! According to Mr. Robin-
son's account, if they get one clear day in seven at the en-
trance of the bay they consider themselves fortunate. Here
we are now (6 a.m.) within ten miles of Heart's Content,
and we can scarcely see more than a ship's length. The
Niger, however, is ahead, and her repeated guns tell us
where we are with accuracy. Good fortune follows us, and
scarcely has 1 o'clook arrived when the massive curtain of
fog raises itself gradually from both shores of Trinity Bay, i
disclosing to us the entrance of Heart's Content, the
Albany making for the harbour, the Margaretta Steven-
son, surveying vessel, steaming out to meet us, the pre-
arranged pathway all marked with buoys by Mr. J. H.
Kerr, R.N., and a whole fleet of fishing boats fishing at the
entrance. We could now plainly see that Heart's Content,
so far as its capabilities permitted, was prepared to w,l-
- us. The British and American flags floated from the
church and telegraph station and other buildings. We had
dressed ship, fired a salute, and given three cheers ; and
Capt. Commerell, of H.M.S. Terrible, was soon on board
to congratulate us on our success. At 9 o'clock, ship's time,
just as we had cut tho cable and made arrangements for
the Medway to lay,the shore-end, a message arrived giving
us the concluding words of a leader in the Times. "Itis a
great work, a glory to our age and nation ; and the men
who have achieved it deserve to be honoured among the
benefactors of their raco." " Treaty of peace signed be-
tween Prussia and Austria." It was now time for the
chief engineer, Mr. Canning, to make the necessary
preparations for splicing on board the Medway.
Accompanied by Mr. Gooch, M.P., Mr. Clifford, Mr.
Willoughby Smith, Messrs. Temple, and Mr. Deane, he
went on board, the Terrible and Niger having sent their
paddle-box boats and cutters to assist. Shortly afterwards
the Great Eastern steamed into the harbour and anchored
on the N.E. side, and was quickly surrounded by boats
laden with visitors. Mr. Cyrus Field had come on shore
before the Great Eastern had left the offing, with a view of
telegraphing to St. John's to hire a vessel to repair the
cable unhappily broken between Cape Ray in Newfoun B-
land, and Cape North, in Breton Island Before a couple
of hours the shore end will be landed, and it is impossible
to conceive a finer day for effecting this ourfinal operation.
Even here people can scarcely realise the fact that the
Atlantic Telegraph Cable has been laid. To-morrow,
however, Heart's Content will awaken to the fact that it is
a highly favoured place in the world's esteem, the western
landing place of that marvel of electric communication
with the eastern hemisphere which is now happily, and we
hope finally, established.
"Seems it not a feat sublime,
Intellect hath conquered time."

Miscellaneous American News.

0

We have full accounts of the late riots at New
Orleans. It appears that a meeting ratifying the
Democratic nomination of Delegates to the Phila-
delphia Convention had been held in Lafayette-
square, and had passed off well. This was followed
by a meeting to elect delegates from unrepresented
parishes to the Constitutional Convention, which
was :opposed by the Mayor and supported by the
Freedmen. Governor Welles forwarded the pro-
clamation from his plantation on Red River to his
private secretary, but the Secretary of State refused
to sign it and affix the State seal. In a court of
the Conventioners it was decided that the signa-
ture was not necessary—a case in the Supreme
Court being cited as proving this, and the private
secretary was prevailed on to send the proclamation
to the press. The appearance of the document
created intense excitement, as the object of the
Convention was well known—to disfranchise ex-
rebels and enfranchise the freedmen. The hall of
the House of Representatives was crowded mainly
with freedmen, while, on the stand, was seated ex-
Governor llahn, as presiding officer, P. King But-
ler, and other prominent loyalists, besides several
leading citizens. Strong sentiments were uttered,
and the enthusiasm of the audience was unbounded.
A torch-light procession of blacks followed the
meeting with martial music, and paraded the streets
during the night. The Convention, after adjourn-
ing to call in absentees, met at 1.30 p.m. on July
30th, twenty-six members being present. A pro-
cession of negroes, with flags flying and drums
beating, were attacked while marching to-
wards the Mechanics' Institute, where the
Convention sat, which commenced the riot.
The negroes appear to have taken re-
fuge in the hall of Convention, which was sur-
rounded by the police and the white population.
Several members of the Convention were arrested
by the police. Dr. A. P. Destie was killed, and
Frederick Shaw and John Henderson, junior, were
badly wounded. The telegraph reports state that
those inside the building seeing themselves closely
besieged hung out a flag of truce, whereupon the
police entered to protect the members of the Con-
vention, but on entering the hall an indiscriminate
fire was openedupon them. This was the signal for
those outside to fire on the building. The Mayor, J.
T. Munroe, issued a proclamation directing citizens,
who were desirous to maintain peace, to appear at
the City Hall and be sworn in as extra policemen.
General Baird despatched the troops to the scene
of disturbance. Crowds on the different thorough-
fares near the Convention building were dispersed
at the point of the bayonet, and artillery planted
within sweeping range. Martial law was proclaimed,
and Major-General A. V. Kautz was appointed
military governor of the city, with his head-quarters
in the City Hall ; all civil authorities were directed
to report at once to the General, and to receive
their instructions from him. Of the 26 delegates
who assembled in the Mechanics' Hall one-third
are said to have been killed, and the other two-
thirds more or less wounded. Ex-Governor Hahn
was shot in the back while being removed under
arrest from the building. Those who attempted to
escape were killed, and every member who fell into
the hands of the rioters was beaten to death. Of
course the unfortunate negroes came in fur the lion's
share of murder and ill-usage. The 26 Conven-
tioners who assembled in the face of such a mob
as that of New Orleans, backed by the police and
city authorities, must have been men of no ordinary
nerves, and they paid a terrible penalty for their
rashness. This city, on which General Butler set
his heel, has taken its revenge on a few brave, if ill-
advised men, and a crowd of unarmed• negroes ;
and if any circumstance was required to justify
General Butler's action while commanding in the
city, this brutal massacre will do so. Forty-one
persons were killed, and 160 wounded. Judge Abel
has charged the grand jury to indict all persons
engaged in the riot. The prisoners released by the
military have been again arrested, and a military
commission is sitting recording evidence on the
subject.

COMMERCIAL INTELLIGENCE.
NEW Yonx, Saturday, August 4.
Money continues abundant, and cheap on call, and stock
houses are fully supplied at 4 to 5 per cent.
There is little change in the rates for commercial paper.
Pow first-class bills offering ; they are readily taken at low
rates.
IV° learn from Boston that money is in excess of the

demand, the banks freely lending on call from 5 to 6 per
cent., and discounting good business paper for their custo-
mers at the same rate. Still large balances are lying idle
for want of employment. Trade so stimulated is active,
and a cheerful feeling prevails. Money is also abundant
at Chicago, and the demand is very light at 10 per cent.
Government gold-bearing stocks are steady, but 5-20's
of 1862 rose f.

Less is doing in State and railway bonds, except Ohio
and Mississippi Certificates, iu which a large business has
been done at 29 to 30.

The general share market is unsettled, and, as a whole,
lower—a number of operations for an advance having
closed at yesterday's quotations. Still the market has a
firm appearance, and is considered to have an upward ten
dency.

The Atlantic Telegraph unsettles prices, as people sus-
pect operators to be acting on p►ivate messages. The
public have not yet got used to its quick and reliable in-
formation.

The Chicago and North-Western Company have nearly
completed a negotiation that will give them about two
millions of dollars of additional rolling stock to be paid for
gradually in cash, which is a new move on the part of rail-
road men, and a much better policy than issuing of bonds
at a large discount. The friends of the road claim that
this addition to their facilities will run the earnings of the
Fall to a million and a quarter a month.

The agent sent out to California last- March by the
directors of the Mariposa Company returned by the last
steamer. The report is known to be favourable. In his
opinion there are at least one hundred thousand tuns of
tailings on the grant, which will yield over $l5 per tun at
an expense of not more than $3 per tun for working,
which would give a net profit of one million dollars in
gold.

The business of the Sub-Treasury was :—Receipts,
$1,100,899 17 ; for Customs, $349,000 ; Payments,
$921,879 83 ; Balance, $82,643,242 70 ; Gold Notes,
$275,000.

The imports and exports of the port of New York for
the month of June have been published, and, as they close
the fiscal year 1865-66, have more than usual interest.
The amounts are as follows :

IMPORTS FOR THE MONTH OF JUNE.
1865. 1866.
Entered for consumption
Entered for warehousing
Free goods
Specie and bullion

Total entered at port 516,855,321 $22,736.652
Withdrawal from warehouse
The imports for the year have been as follows :

• 1864-5. 1865-6.
Entered for consumption 567,079,520 $179,101,519
Entered for warehousing 82,266,122 112,356,494
Free goods 10,603,200 12,423,741
Specie and bullion 1,890,431 2,251,644

Total entered at port 5161,779,273 41306,133,398
Withdrawn from warehouse 76,267,862 88,891,375
The }avenue collection at this port has been :
REVENUE AT NEW YORK.
1865. 1866.
In Juno 57,837,075 84 $9,559,898 38
Previous 5 months

Total in 6 months $36,695,577 07 $67,548,189 78
Total fiscal year 61,169,479 80 132,625,518- 65
Exports from New York for the fiscal year ending
June 30 : _ _

. 1863-4. 1864-5. 1865-6.
Dom. produce $161,842,9115184,617,834 8210,352,823
Foreign free goods 838,526 2,419,689 762,333
Do. dutiable 6,244,339 15,835,262 4,323,375
Specie and bullion 58,274,220 39,589,259 57,870,354

Total exports $227,199,996 $242,462,044 8273,309,185
Do. exclusive of

specie

(From L. P. Morton and Co's. Circular.)
NEW Yonx, Aug. 4.

Per Steamer " Fulton."—We have to note a continuance
of the extreme ease iu monetary affairs alluded to in our
late advices. The banks are employing their large balances
chiefly in demand loans, at 4 to 5 per cent. ; the trans-
actions in discounts being nominal, and ranging at sto 63-
per cent.

The general business of the country is quiet; but, with
the prospect of an abundant harvest, and a liberal demand
for goods from the Southern States, hopes are entertained
that the Autumn trade will prove satisfactory.
The plethora of unemployed funds sustains the activity
of speculation in securities noted in our last. Railroad
Stocks have been very active, and are generally higher
than last week. Erie has been in speculative demand, and
has advanced to 691.; but the price subsequently reacted,
and closed at 69. Illinois Central, in connection with
speculative purchases, has advanced from 120, our latest
quotation, to 124, and closes at 122 k to 123.

Five-Twenties of 1882 have been firmer in sympathy
with higher quotations at London. Quotations for bonds
have been received almost daily. by Atlantic Telegraph,
rho effect of which has been to adjust prices here with those
of London. Important purchases have been made for ship-
ment to Europe. The quotations for Five-Twenties
have fluctuated between 107+ and 1081, and close at 1081.
State Stocks have been rather more active, but without
material fluctuations in value. The closing quotations are
as follows : Tennessee 6s, 1890, 92 to 93 ; North Carolina
Os, 84+; Virginia Os, 64 ; Missouri 6s, 79j.
The gold premium has shown a steady downward ten-
dency ; which, however, has been counteracted by combi-
nations to make Gold scarce. The price has ranged at
147 to 1501 and closes at 148.
Exchange has still further declined, under an increased
supply of bills and a continued indisposition on the part of
importers to remit, with Gold at its present high premium.
Bankers' 60 days Sterling bills close at 1074 to 1074 ; Sigh t
do., 1084 to 1081; Francs, long date, 5.22+ to 5.20 ; Sight
do., 5.184.
Cotton has been firmer, under the improvement in the
Liverpool Market, the prospects of peace in Germany,
and the increase of shipments. The receipts at all the
ports, reported during the week ending July 31st, amounted
to 5,000 bales, and the exports to 8,000 bales. The price
for Mid. Uplands has ranged during the week at 36 to 39
cents, and closes at 36 to 37 cents.

The prospect of the growing crop, we think, has im-
proved within the past thirty days. From an actual in-
spection of the growth, and a personal investigation of the
condition of labour, we incline to the belief that two mil-
lions of bales may be made.

COTTON QUOTATIONS.
Uplands. Mobile. N.O. & Ts.
Good Ordinary
Low Middling 331 to 34 34 to 34/ 35 to 35/
Middling
Good Middling