The Sun.
London, England, 1868-09-26 00:00:00

NEW YORK‘RA.TES OF EXOILINGE,

Sept. 11, 1868.
Sixty Days.
London Bankers
London, Prime Commercial lOBl-108k ...... „
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers 351-351 ......
Frankfort, O.AI . 4Ol-404 ......
Berlin and Cologne
Antwerp 5.24-5.111 ......
Amsterdam, Bankers
Swiss
CLO SING PRICES.
PUBLIC FUNDS.

Three Daps•
1091-1091

Sixes, 1868, registered • — to --
Sixes, 1868, coupon. — to
Sixes, 1881, coupon ll4l to 114 k
U.S. 6s. Pacific It-tilioad — to
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1865, coupon
Five-twenties, 1865, coupon, new
Five-twenties, 1867, coupon .... 108; to 108 k
Ten-forties, coupon lOBl to 109
Seven-thirties, 2d series
Seven-thirties, 3d series -
Oregon War Loan, Sixes. 1881 -
U.S. 5-20 Coupons, 1868 llO to 1101

RAILROAD AND MISCELLANEOUS STOCKS.
N. Y. Central 1241 Fort Wayn© ............ 1071
Erie
fludson
Reading
Mich. South. &N. 83;1 W. U. Telegraph ...... .3;
Illinois Central
Cleveland Pittsbrg B5l Ohio and Mississippi... -4.1
North-West
North-West Preferred 87 Cumberland .............
05
Canton.. - Bankers and Brokers... I"
Rock Island
Cleveland and Toledo 1001- St. Paul Preferred
Express Stocks are unsettled. We quote :
Adams 481 to 4„
American ... 431 to 'la
Merchants' Union, 35 per cent.... ~. '22 to 224
United States 441 tA, ‘,4ra
Wells, Fargo, and Co. ... 251 to 4'"*
The Union Pacific Railroad Company, at a ~e"
gular meeting of the Board of Directors, last were",
voted $3,000,000 of the First Mortgage Bonds W
he laid aside in trust, as pledged to spend 111)°„11
culverts, bridges, &c., of the already accepted Par':
of the road. This pledge puts the road in a ye%
strong position, showing the determination of
rrt
directors to make and keep a first class road. ,u,"
irectors have agreed upon a contract with N-"A
Boomer, of Chicago, for the superstructure fo;
substructure of an iron bridge over the Niss,°llis
River, between Omaha and Council Bluffs. u
bridge is to cost a million and a half of dollars::
probably two millions with the approaches on. tßut
Council Bluffs side. All the roads centrehig tt
Council Bluffs are to pass over it—the Rock Isloa,
Cedar Rapids, and other roads.

(From Messrs. L. P. Morton and Co.'s Circular.)
NEW YORK, Sept' g
The money market exhibits an ease beyond what
tg
been anticipated for the period when the croraovtrVia r
usually induce a heavy drain of deposits tot he intet,
Within the last four weeks the deposits of the banksill''s
been reduced $24,000,000, and the legal tender,
$8,000,000, while the loans and discounts have been c„i'ds
tailed only $8,000,000. This heavy outflow a fu"
has exhausted the banks of national bank cal ten'
has produced an extreme scarcity of small legal tlcif
ders; but the rate of interest, nevertheless, remairis6tf' ea
at 4 per cent. on demand loans, and 61 to 7 per cer," far
discounts of prime paper. It remains to be seen ber.fher
this condition of the market may be affected by a f„s
demand for currency from the West, for moving the cri;'of
of the more northern sections ; by possible withdrawaejog
currency into the Treasury, its curceucy balance being
the
now only $15,000,000, or $32,000,000 less than a
same period of 1867 ; or by the preparations for the q: of
terly Bank statement, to be made up on the st'
October. bl
The following is the text of the Funding Act passed
Congress at the close of the last session:— nebts
An Ac t providing for the payment of the Nations,.
and for the reduction of the rate of interest there°';',ol
Be it enacted, &c.—That the Secretary of the Trloods
is hereby authorised to issue Coupons or Registered mribe,
of the United States in such form as he may Prescsate:
and of denominations of $lOO, or any multiple of states,
redeemable in coin at the pleasure of the United °,`ToNs-
after 30 or 40 years respectively. and bearing the f°',oio,
ing rates of yearly interest, payable semi-annually,
thirtf
that is to say : The issue of bonds falling due la to;
years shall bear interest at four and a half per ce6,,st at
and bonds falling due in forty years shall bear inte,r,liere"
four per centum, which said bonds, and the interes" es or
on, should be exempt from the payment of all tat%o
es
duties to the United States other than such income
may be assessed on the owners, as well as from tr„titbo'
in any form, by or under State, municipal, or loom: 1. the
rity, and the said bonds shall be exclusively used '°,,t a
redemption of, or be exchanged for, an equal alustates
any of the present outstanding bonds' of the Unite
..sa to
known as the Five-twenty Bonds, and may bee Psurinsi-
an amount in the aggregate sufficient to cover h
pal of all such Five-twenty Bonds, and no more. ~eribi
Sec. 2. And be it further enacted, That there laigoodS
appropriated out of the duties derived from import° suet'
jute-
the sum of $135,000,000 annually, which sum duritl
fiscal year should be applied to the payment Of ti"„eblie
rest, and to the reduction of the principal of thej sec-
debt, in such a manner as may be determined bYh:reofte,f
retar3 of the Treasury, or as Congress may -smiting
direct, and such reduction shall be in lieu of the %title.
fund, contemplated by the fifth section of the Act e'ilofes,
"An Act to authorise the issue of United Slates feed'
and for the resumption or funding thereof, and for
roved
ing the floating debt of the United States, app
February 25, 1862. a tai
Sec. 3. And be it further enacted, That from an ora'
the passage of this act, no percentage, deduction!
_il
be
mission, or compensation of any amount or kind sllogy
allowed to any person, for the sale, negotiation, r6i.joitca
tion, or exchange of any bonds or securities of 00 Tres;
States,' or of any coin or bullion disposed of at thari,ifea
sury Department or elsewhere on the account of the u_
States. And all acts and parts of acts authorising o'lias
mitting, by construction or otherwise, the Secrets*? 'roper
Treasury to appoint any agent other than some Xatioa,
officer of his department to make such sale, riegcerebi
redemption or exchange of bonds and securities, are A
repealed.
IVO
(From the Monthly Circular ofenry Clews and Co.,
York, Sept. 9.) 601°'
The strong upward tendency of the gold Pr bso
based upon considerations stated our last circulaa,
to,
been checked by causes which could hardly have beet', the
ticipated. Certain of the foreign bankers, confident of
nomination of Chief Justice Chase for the Presidencp „clit
expecting as the result a renewed demand for our
abroad and a decline in gold, early in July made couSv•-0
able shipments of Five-Twenties and sold large areolPid
of gold " short." Mr. Chase was not nominated, and gar,
advanced 6 to 8 points above the figures at which these roi
ties had sold it. In order to check the upward tendenci.ls,
gold, based upon the prospect of a foreign drain of spade.s,
these operators made further immense shipments of bony
The total amount of securities thus exported, during ~J4:1;t0
and August, is variously estimated at from $30,000'0,0
$45,000,000. The consequent large supply of exclistait
not only enabled the agents of Baring Brothers
bridgedtoF
over $5,000,000 of the Alaska money in bills, hut
.i
over the adverse trade balance, and averted, teralrol
at least, a large outflow of specie. This unexpecteuemianl;
ment has checked the rising tendency of the Pr robebk;
unless, however, Germany, contrary to ordinarY P
lity, should take permanently this extraordinary be
bonds, this change in the course of the market may
ultimately reversed.

(Front Messrs. Satterthwaite's Circular.) t. 23.
London S s
On the London market there has since our'last peen an
littlea more activity, and quotations generally.' exllot r
dvance on the week, still relatively with Vices the
ported by telegraph. 5-20's of 1865 and 10-40's arson the
cent. lower in London than in New York, While
bigher
other hand Erie shares are from 2 to 21- per cent.
here than there.73cl
To-day the old issue of 5-20 Bonds were takends so
but at that price they close sellers ; the 1862 D°ll,tivelt
the 10-40's being 71-1 to and 661 to 671 resPe-lottinii
The improvement to 911 to' 921 in Illinois has lea beso
caused by the fall in gold, but for Erie there kttss col;
good demand, and they leave off 32 to 1. First c but fe"
rency and Sterling Bonds have been inquired for,
are off • ering.
-4/

t lid '..-EC
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BowLES—On the Istd odh tile r f
ult.,BirthFs. w.if, of
twine aptadHi.na:Egodhawteard Bowles, a6tOthYlztaibflaes, ggalllit)j° '
thers 21th inst., at Downing, Flints e'
the
DENBIGH—On
of Denbigh, of a daughter. the Wife 01
FIFE—On the 25th inst., at 150, Harley-street?
Col. Fife, Royal Engineers, of a daughter.
GAIN—BURTON—On Mthea"24itahgthesst., at st.J°":' rallf.4;
BlEtio•sicidxiltiooinif.,cMargaret Elizabeth, only
HASTING—LYNCH—
rowhurst-road, Brixton, to Tbsnigs
bury, Middlesex, °En t .t at
13
i;'
lig
foilotes:
he 24th ins ~ f of
Eustac_ot county Kildare Jameq E. Ilastiog,,%ehter
—sq , to Elizabeth, eldest as 1.
DCRNHAM—On the 20th
J. M. Lynch, of White.leas, Esq. daughter 013 f
0;t00, o
Esq., of Havannah, agDedi
inst., at
hats.rrenlen,
_.
-rr,-.1 1311111b9°1
CoRFE—On the 25th inst., at CJurtney I,odge' S°lltl39t;
James Corfe, aged 83. Ses,
GORE—On_ the 21st inst at St. Leonard'S-0;
Lgoaoddy,EElsizqa.,boefth7,Gore, sister'' to the Earl of I'lll i:Pr
Trpz 00,71
HA.noooD—On the 21st inst., at trightorl, "--- :god • . oft
MILMAN—On the
24th inst., at Queen's-bill LoTi.ari of .
the Very Rev. Henry t Allman, P.D.? °le
y Hart 1 ,
Paul's, aged 78. Iligbbury-place, Islington, ...,e, Asegt,

London : Printed and Published by W11,51,1/1.-- 14
Oti
go
of No. 112, Strand, Printer, at Tan t 46
ON °4l"'Clo
stran
di in the Precinct of the Savoy, in
Middlesex:--Sastarday, September 26, OM