The Sun.
London, England, 1868-10-03 00:00:00

(From the Springfield Republican, Sept. 19.)

Another six days of work is done, and nothing yet
seen of the monetary stringency predicted. Money con-
tinues to rule easy; and the supply is perhaps even better
distributed this week than last. The idea of "seven per
cent. in gold" is pretty generally given up by this time.
The banks of New York still hold nearly $20,000,000 in
excess of the 25 per cent. of lawful money security re-
quired by law ; and, should the drain of currency to the
West continue, they have forty millions in three per cent.
certificates which they can exchange at the Treasury for
lawful money. These considerations make it certain that
the supply is far above any demand which it is reasonable
to anticipate. Indeed, the demand from the West, in-
stead of being heavier, as was generally expected, has
been oven lighter for the week, the decrease in deposits
and greenbacks at New York being under two and a
half millions, and hence inside the probable esti-
mate. In, some cases previous orders haie been
countermanded by telegraph. Those who based their
calculations of stringency "about this time" on last
year's experience, and made their minds up for
seven per cent. in gold, are beginning to appreciate the
difference between this year and last. In the first place,
the bulks began to meet the Western demand better pre-
pared than last year. In the second place, there is an un-
precedented amount of foreign money balances in New
York and of credits, which can be drawn upon, if the
rates of money improve. As money is a positive
drug at 13 to 2 per cent. in London, and the accumu-
lation at the Bank of France continues under the increas-
ing apprehension of war, the capacity of the market is
greatly increased from this source. It is even reported
that Canada banks aro employing their funds to a consi-
derable extent in New York. In the third place, the sub-
Treasury holds $15,000,000 or less of legal-tender notes,
against $35,000,000 at this time last year, the balance being
in use, it is fair to presume, somewhere. In the fourth
place, the purchases of goods for the West and South
this year will come nearer iu amount and in time to
the indebtedness of the East for grain and cotton
than last year. It would not b 3 difficult to exhibit
other points of difference all to the advantage of
the money market the present year. Anyway, the
fact remains that September is more than half gone,
without the banks of New York losing one half what
they ought to have done, if there is to be any such strin-
gency as it has been popular to predict. The scarcity of
small notes is being more and more felt at the West, and
the banks East are cot able to furnish them to their cor-
respondents. The Treasurer at Washington has given
notice, however, that every facility will be given iss
making the exchange, or " change," at the department.
At Boston the market is working rather closer, with not
much room to spare. Money is worth 5 to 6 per ceut. at
call bn Governments, 7 per cent. on good 60 days' paper,
and 7i for anything longer. The street rates are if for
the best signatures, and 8 to 9 for good average double
names. At New York first-class houses havo no diffi-
culty in getting money on call at 3 to 4 per cent.; some
borrowers have to 'pay as high as 5. There is quite a dis-
position to borrow on 30 or 60 days, in consequence of
the predictions so persistently made of a pinch to come
soon. Discounts are freely made at 6 to 7 per cent.
Money is rather easier outside than at the banks, which
are expecting further orders from the West, and in-
clined to keep their funds well-in-hand. At Philadelphia
the decrease in deposits and legal tenders this week is
rather larger than last. At Cincinnati the drain of cur-
rency to the interior is perceptibly checked. The demand
for discounts is full and rates are strong. At Chicago
money has worked easier during the week, and the move-
ment to the country has totally ceased. The banks have
stopped ordering currency from New York, and in some
cases orders have been countermanded. The demand for
currency from the South has not yet begun to tell very
heavily. The movement of the cotton crop will require a
considerable amount of currency, and it is likely to be
brought in rapidly under the apprehension of a decline.
Foreign exchange is inactive and prices are less firmly
maintained.
Gold has remained without much fluctuation during the
week ; but its firmness, under the repeated assaults of the
bears, is ominous of an early rise. 141 seems to be " bot-
tom" for it just now ; and we shall look to seek it turn
and go up before long. The business demand is heavy,
and importers are generally securing themselves at present
rates, in preference to borrowing. For prompt delivery
gold is in only moderate supply. The export continues
to be trifling. The New York Ifiqrld remarks that there
is no doubt the greater part of the November interest is
already sold. Governments have advanced a fraction on
most of the denominations. The results of the Maine
election had chiefly been discountei beforehand, with the
' improved feeling in political circles; but the whole line
could
,not help recognizing the tribute paid to national
honesty on Monday by advancing, though less than was
' anticipated, on Tuesday. In London the price has ad-
. vanced to 72i. At New York the out of town orders are
all to buy, and foreign bankers continue to purchase
largely of the later issues for shipment. There is also a
brisk inquiry for the registered Five-twenties of 186. t,
which have been selling as low as 1081 to with accrued
interest, which makes them the cheapest bonds on the
r list.

The stock market has in general been steady. T lie
transactions have been unusually large, the aggregate
number of shares disposed of showing an increase of
twenty-five par cent. The leading railroads have been
firm at the full rates of last week, and is increasing
demand. St. Paul, common and preferred, have been
steady, closing at 954, being a rise of 4 per cent. during
the week, and making a total rise of 21 on the common a❑d
15 on the preferred within a month. This extraordinary
advance is mostly genuine, though it has no doubt been
helped by shrewd manipulation: The road has this ad-
vantage over the Chicago and North Western—its rival in
the affections of the market, its late rival it might be
called—viz., that while both companies represent several
original corporations, the North Western operates a great
part of its line on leases, for which it is subject to a con•
stant and heavy drain, while the consolidation of the Mil-
waukee and St. Paul is genuine, and all partions of its
line have a common interest, making it a far more com-
pact and available property, though still mach encum-
bered with lawsuits, if not with leases. North Western
shares, both common and preferred, are also in active in-
vestment demand, having risen nearly three per cent.
within the week. The defeat of this road, in its contest for
the Pacific Railroad business, does not seem to have lost it
the confidence of the people. On the contrary, its resources
have been so strikingly illustrated during the present sea-
son as to justify the hope that even with its gigantic bur-
dens it may be lifted into the dividend paying class. To-
ledo, Wabash, and Western has advanced to 63, a rise of
6 within the week, and 13 within the month. This road
is now earning a dividend on its stock by the simple in-
crease of its traffic over last year. For the first week in
September its earnings were $113,466 against $84,375 the
same week last year, an increase of 33 per cent., and for
several weeks the exhibit has been nearly or quite as good.
The road is frightfully mortgaged, however. Fort Wayne
and Rock Island are also being absorbed by the invest-
ment demand, and the amount now held for speculation is
much less than last year. Chicago and Alton, and the
Michigan Southern also show a gain.
Reading is at a fraction above 90. The report of diffi-
culties with the coal miners is given in explanation of
the continued decline. New York Central sold
up to 127, but closed lower. It is said that
this stock is being withdrawn from the street. The
Times, which is decidedly in this interest, speaks very
glowingly of its prospects: believes that all that was ex-
pected of the Vanderbilt management will be realized ;
that the present value of the road is 35 per cent. above
the amount of its stock (net a very wide margin, at 127),
and that it will earn net two millions this year more than
in 1867. Erie has advanced a fraction under a largely in-
creased demand. It is said that the amount taken on
English account, since its decline to 434, amounts to
150,000 shares, or .one-third of the stock. The London
Economist, in view of this heavy importation, suggests the
formation of a protective association to look after the in-
terests of holders. Pacific Mail has steadily risen until it
has reached 1094. There is plenty of explanation offered
for this movement. The only question is, whether it is
correct. The general belief connects it with the Webb
opposition in some way —many regarding an accommoda-
tion as probable—others looking to see Mr Webb's enter-
prise crippled by the abandonment of the old Nicaragua
roots. It is fully as likely to b 3 a reaction from the exces-
sive depression of steamship stock five months ago. It is
believed that at the annual meeting in November a very
satisfactory statement will be made of the affairs of the
company. The once famous but long despised and ne-
glected Mariposa mining stock has manifested a surprising
degree of activity during the week, and has advanced 5
or 6 per cent. on the preferred, the number of shares sold
being very large. The American Journal of Mining pub-
lishes a report upon the property, said to be by an eminent
geologist, in which he takes the ground that it has been
unnecessarily depressed; and that, particularly with
Chinese labour and the recent improvement in mining, it
can be worked to profit.

The import entries at Now York for the past week
amount to $4,227,255, against $4,583,556, same week last
year. The export clearances of domestic produce to
$3,074,642 against $1,789,050. The export of specie
$329,525 against $325,328. The gold value of importations
of foreign merchandise at that port, since January 1, are
$179,472,244 against $191,784,658 for the same period in
1867 ; the currency value of exports of domestic produce
and miscellhneous goods $112,446,665 against $126,920,720;
the exports of specie $65,313,052 against $41,340,548 ; the
deliveries of California gold and silver $30,508,180
against $21,254,504. The increase in export is noticeable ;
with the great accumulation of graia and provisions at
the ports, and the rapid arrival of cotton, coastwise
and by rail, taken in connection with the uncommon
meekness of holders, this year, it is likely to continue
through the next two months and perhaps do some-
thing to restore trade to its proper balance. The export
of hay to England is unfortunately threatened by an order
forbidding its introduction into the kingdom without a
license from the Privy Council. This is on account of
the reports of our cattle plague. flow muck of an ob-

stitch) this will prove practically it is hard to say. Advices
from England remain unfavourable to the export of
cheese, though a few choice lots have been sent out during
the week. The export of petroleum since January 1 no!
aggregates 67,921,296 gallons, against 41,949,820 in 186/.
The export demand for cotton remains dull, owing to the
complete derangement of the market. Prices broke fiat
at the Southern ports, and middling uplands have suffered
a decline of 3to 4 cents. a pound. The receipts thus fer
are large for the season of the year, and the crop is being
hurried in as fast as possible, which helps to explain the
fall. It is a matter of regret that this crop should have
to be sacrificed as it was last year, and seems likely to be
this.

The general trade of the past week has been more satis-
factory. The West is feeling confident from the unex-
ampled abundance of the crops, and the merchants along
the lake ports are forwarding very heavy orders to
New York. At the East trade is slower to revive, but
the increase in activity is still noticeable. In dry goods
at New York a good business has been done in all depart-
ment; and prices have held steady, except in do•ue=tio
shootings and shirtings, which have suffered a &dint) is
consequence of the fall in cotton. Woollen gods
selling batter, especially cassimeres and fine cloaking; 30
in foreign goods the transactions are large and prices full)
maintained. In provisions there has been no marked
change, except that pork has advanced slightly upon its
previous high figures, owing to a decided scarcity in the
supply. , Breadstuffs are dull, except for new wheat and
flow from it.

(From the Wall-street .Tournal)
FRIDAY EVENING, Sept. 18.
Railroad Gold Bonds continue active, with a strong de-
mand, both foreign and domestic, for Union Pacific, Cen-
tral Pacific and Rockford, Rock Island and St. Louis, the
latter of which is looked on as extraordinarily
Mining Stocks are generally slow of sale, the transactions
being principally confined to Consolidated Gregory, Igor
tana, New York, Quartz Hill, and Smith and Parmelee.
Mariposa, however, continues active, and the Preferred
Stock is firm at about $10:75. Petroleum Stocks are
steady, and a good business is doing in Buchanan Far°,
and United States. Twenty Five Cents have been psi'
for Rynd Farm, but very little stock is on the market.
American Silver sells at 61 to 7 cents below the pr
of Gold, and Mexican Dollars at 102 f to 103 in gold.

NEW YORK RA.TES OF EXCHANGE,
Sept. 18, 1868.
SixtDays. Three Pa
London Bankers lO- 109 109i-1091
London, Prime Commercial 1081.-108} ****** , 5
Paris, Bankers -5.17 f 5.161 -5.'
Bremen, Bankers
Hamburgh, Bankers 351-351 ......
Frankfort, O.M 4Ol-401 ......
Berlin and Cologne
Antwerp 5.21-1-5.1.71 ......
Amsterdam, Bankers
Swiss
CLOSING PRICES.
PUBLIC FUNDS.
Sixes, 1868, registered - to
Sixes, 1868, coupon .. - to
Sixes, 1881, coupon ll4 to 1141
U.S. 6s. Pacific Raihoad - to --,,
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1865, coupon
Five-twenties, 1865, coupon, new
Five-twenties, 1867, coupon
Ten-forties, coupon .. lO9l to 109
Seven-thirties, 2d series
Seven-thirties, 3d series - to ---
Oregon War Loan, Sixes, 1881 - to --,
U.S. 5-20 Coupons, 1868 llO to 110}
RAILROAD AND MISCELLANEOUS STOCKS.
N. Y. Central 129 Fort Wayne
Erie
1101
Hudson -
iloi Atlantic Mail
Reading
34
Mich. South. &N. 1.... 841 W. U. Telegraph
Illinois Central
Cleveland & Pittsbrg BBl Ohio and Mississippi...
North-West
North-West Preferred 90 Cumberland
, .
Canton..
Rock Island
Cleveland and Toledo 1001 l St. Paul Preferred
Latest prices of Silver Mining Stocks, by telegram fr°
San Francisco, dated Sept. 15, 1868:-
Gould and Curry ... ... ... ... 682 per fo°t
Savage ... ... ... ... ... 1,680 7,
C'nollar-Potosi ... ... ... ... 141 ,
Ophir
Hale and Narcross ... ... ... ... 1,050 ~
Crown Point ... ... ... ... 920 ~
Yellow Jacket ... ... ... ... 1,108 ~
Belcher ... ... ... ... .. 128 1,
Alpha ... ... ... ... ... ... 960 o
Kentuck ... ... • ... ... ... 305 1,
Bullion ... ... ... ... ... 10 ~
Overman ... ... ... ... ... 84 ~
Empire Mill ... ... ... ... ... 115 '9..4
Imperial ... ... ... ... ... Dv pr tow'
.... ...

Confidence ... • ... ... ... ...

35- 9

Aruader ••• 2 77 0
Exchequer ...
Quartz Hill
Lady Byron ... It
Sierra Nevada...
Express Stocks have generally advanced. We quotel
Adams 514 to ",9
American ... 481 to ",41
Merchants' Union, 35 per cent—. 24 to /46
United States ... 481 to of
Wells, Fargo, and Co. ... 27 to

(From the New York Tribune, Sept. 19,)
Freights are again higher. To Liverpool, by stesn- of
7,600 bush. wheat at bid. The charters are a vessel
5,000 bbls. Petroleum to Liverpool at ss. 44d., or to Vilr,
don, ss. 2d. ; a German brig, to Hamburg direct, at ss. 6u.'
a German barque, direct,
to Antwerp, at Is. 3d. per 17-14,'
and a vessel from Philadelphia, with about 4,500 121)-
petroleum, to Antwerp, at 6s.
The transactions at the office of the Assistant Treasurer
were-Receipts for Customs, $375,000 ; for gold 13°t71,
$36,000; total receipts, $1,943,903 82 ; total payinetl
$1,890,086 91; balance, $90,219,102 46. It is said the rare
advance of New York Central to 132 is due to the fact tlisi
a meeting of the directors has been called for Pell
Wednesday, to decide upon a distribution of the surfauf4...,;
is stated that it will be done by doubling the present car;
tal and marking 50 paid up upon the certificates. The otti;,
$5O will not be called at present, but will be paid as
bonds mature, when they will be paid off with the VI.
coeds. In Hudson River also, it is said, a similar divide-1
will be made, and the 50 per cent. that remains 110,01
used to pay off its bonds as they mature.
The San Francisco Market Report of the sth instant, rre
ceived overland, contains the following account of tli
money market of that city :
g'
Gold bars are in liberal supply at $BBO to $B9O ;il
ver bars rule from par to f per cent. premium. "for
quote currency bills on Atlantic cities at 41 to 42 Po
cent. premium on gold ; sight drafts, payable in coin, t'io
negotiated at f to 1 per cent. premium ; telegrsP,mll4
transfers are effected at 14 per cent premium; sterP:d„
exchange, 48f to 49 ; commercial exchange, 491. to 4'o,'
Mexican dollars have received a notable upward imPulAltie
being quotable at Bto 9 per cent. premium. This is "-,1
to the fact that the market has been completely striPP:t
of this coin by the recent shipments to China per >I:,
steamer. The remittances of bullion and specie by
1.
steamer China amounted to $875,458, divided 10 f 9
lows : Silver bars, $577,283 ; gold coin, $91,21;
gold bars, $103,597 ; gold dust; $5,130 ; Mexican
lars, $97,518. It is notable that the only
pars of gold bars and gold dust are our Chinese 0" to
chants. The shipments of treasure from August Ito a"0
(exclusive of Government account) have been $3,756i5,
73. Total since January 1, 1868, $26,987,495 85 ; c°r
sponding period of 1867, $29,527,324 46.

(From Messrs. Satterthwaite's Circular.)
The principal feature in the London market Set:aforrtl%
rican Securities since our last has been the ad'veac°o
United States 10-40 Bonds and Illinois Central Sh9'rpif
This day week both of these securities were relatice,
lower here than in New York, but on an improved 100
mand,•especially for Illinois Central Shares the price 0,
been put up until they have risen above American cl,ll°oo
tions, United States 5-20 Bonds of 1862 close 73 to Poi
1865 issued 711 to I and 10-40's, 67; 6814. Eriolot
were at one time dealt in as high as 331, but on 10 tied
prices yesterdayand to-day, by telegram, they have res,,core
to 31 toi. Illinois Shares are last quoted 95 to TPOO
have been numerous transactions in Atlantic to
Great Western Consolidated Bonds, which leave off -
i-, after having touched 40i.

Births.
e 4
PEACHEY—On the Ist inst., at Esher, the wife of Aif-
Peachey, Esq., of a son.
PAYN—On the Ist inst., at Dublin, the wife of Col. liir'
Payn, 0.8., 72d Highlaners, of a daughter.
‘,1,1
SILLAR—On the 2d inst., atd Matheran, Sydenbam-w- I'tp°
wife of W. C. Slifer, Esq., of a son.

Marriages.
—lp.
GREENWAY—KLELINGLEY—On the Ist inst., at St.
Church, Camberwell, Henry Randolph, elder son of to
Greenway, Esq., late of Trunkwell House, Berk
Louisa Jemima, elder daughter of the late JKilling'
Esq.
ROWLAND WALKER—On the Ist inst., at Sidtll°-6,d,
Devon, T. H. Rowland, Esq., of Belmont,• Norlaja
Surrey, to Jane Cumming, widow of the late T. (I°,l
Walker, Esq., formerly of Ashfield, Suffolk, all-
Ashley-place, Pimlico.

Deaths.
Pl6'.
BARRACK—On the 29th ult., Mary Anne, the wife 0-f op,
Barrack, Esq., of St. George's-terrace, Sensing'
aged 78.
EMMETT—Oneg
the Ist inst., Maurice Emmett, of
Ditton House, Surrey, Esq., late Captain in 48th -oe'
meat.
HEAD—On the Ist inst., at Southport, John Head, of LiQet
pool, formerly of Masham, Yorkshire, aged 57. eE
LOCKE—On the 30th ult., suddenly, Mr. Peter Le°,lo9,
Dansey Villa, Lyndhurst-road, Peckham, S.E.,
Hatton-garden, E.O.
LAKE—On the 30th ult., at Saham Toney, Norfolk,
Lake, Esq., aged 83.

London : Printed 'and Published by WILLUNI ANDO
of No. 112, Strand, Printer, at Tae SiN ti
Strand, in the Precinct of the Se voy, in the 00113"
hijaclittisP:7o4turclaYi Qct9ber 3, 148.