The Sun.
London, England, 1868-07-06 00:00:00

THE SUN, LONDON, MONDAY EVENING, JULY 6, 1868.

BUILDING GROUND.—CITY of LONDON.
Notice is hereby Given, that the City Lands Com-
mittee will meet at Guildhall, on Wednesday, the Bth
July next, at Half- past One o'clock precisely, to RECEIVE
PROPOSALS for a BUILDING LEASE for 80 years of a
piece of ground on tL•e east side of Gracechurch-street, and
the north side of Fenchnrch-street, in the City of London.
A Plan of the Ground may be seen and further particu-
lars obtained upon application at the Architect's Office,
Guildhall.

FERD. BRAND, Comptroller.
Guildhall, 12th June, 1868.

APARTMEN I'S.—Part of a Ten-roomed Tlonse,
pleasantly situated iu Islington.—Apply at No. 6,
Crowland-terrace, Englotield-road, N.

UNISIIEII APARTMENTS.—:'V Drawing
11.)am an 831 Ito:rn to be Let, situlted in a cheerful and
healthy part of Kensington, in the house of a Private Family.
Applications through Messrs. G. W. Bayley and Wickham, New-
land-terrace, Kensington.

OLATRA.M.—NPARTMENTS well Farnishe d
lj and highly Respectable in a Gentleman's Private
Family, pleasantly situate, with large G trden. Attend-
ance and every comfort. Very convenient for Rail or
'omnibus to City and West-ond. Apply at the Residence,
"A 4, Lark Hall Rise, Clapham, S.W.; or to Mr. STRTENS
The Pavement, Clapham Common.

Cll WEPP E'S MINER AL WATERS. -
Orders specially prepared for Export to every Climate.
Manufactories—London, Liverpool, Derby, Bristol, Glasgow,
Malvern.

DUNVILLE'S V.R. OLD IRISH WHISKY,
BELFAST,
regularly Rupplied to the Tieuse of Lords.
" V.R." IRISH WIIISIV.

DUN VILLE and CO.'S "V.R." OLD IRISH
WHISKY, BELFAST.
',onion Offices and Stores,
4, BEArFORT-BITILDINGS, sraAND,
Established 1803. Quotations on applintion.

BEFORE CONSULTING A DENTIST,
inspect (free of charge) Mr. WEBB's newly-invented
and unequalled specimens of MECIIANICAL WORK, con-
structed on the only patented improvements in existence
worthy of notice.-27, New Bond-street. N.B. Late with Mr.
Eskell, 8, Grosvenor-street. Treatise, explaining his painless
and inimitable system, free by post. Most moderate terms.

THE PISTON FREEZING MACHINE (Ash's
Patent), is used in almost every household and known in
all parts of the world. By the Piston process ice creams are
frozen in shapes in a few minutes, an operation never before ac-
complished, entirely superseding ice pots and moulds. The ma-
chine also forms a wine cooler, and produces blocks of ice.
When rough ice cannot be obtained, Ash's celebrated freezing
powders are guaranteed to succeed. Price from 50s. Mr. Ash's
Filtering Ice Safes and Piston Freezing Machines are now the
exclusive property of the PISTON FREEZING MACHINE and
ICE COMPANY (late Geo. Simpson's), 315 e, Oxford-street, near
Harewood-gate.

CONTRACT FOR SOUTH-WESTERS.
Contract Department, Admiralty, Somerset
House, July 1, 1868.
THE COMMISSIONERS for EXECUTING
the OFFICE of LORD. HIGH ADMIRAL of the
UNITED KINGDOM of GREAT BRITAIN and IRE-
LAND, do hereby give Notice, that on MONDAY, the
13th instant, at Twelve o'clock at Noon, they will be
ready, to treat with such persons as may be willing to
CONTRACT for supplying and delivering into her Ma-
jesty's Victualling Stores at Deptford all such quantities of
SOUTH-NESTERS

as may from time to time be demanded under a Contract
for twelve calendar months certain, and further until the
expiration of three calendar months' warning.
Their Lordships reserve to themselves an unlimited
power of selection in accepting the Tenders.
No Tender will be received unless made on the printed
form provided for the purpose, which may be obtaindd on
application in the Lobby of the Department of the Con-
treller of Victualling, Admiralty, Somerset House, where
the Conditions of the Contract and a pattern South-
Wester may be seen.
No Tender will be received after Twelve o'clock at noon
on the day of treaty, and it will not be required that the
party tendering, or an agent on his behalf, should attend
at the Office on the day of Contract, as the result of the
offer received from each person will be communicated to
him and to his proposed sureties in writing, when, but not
before, the rejected samples are to be removed.
Every Tender must be addressed to the Secretary of the
Admiralty, and bear in the loft-hand corner the words,
"Tender for South-Western," and must also bo delivered
at the Department of the Controller of Victualling, Ad-
miralty, Somerset House, signed by two responsible per-
sons, engaging to become bound with the person tender-
ing in the sum of £lOO for the due performance of the
Contract.

By order,
ANTONIO BRADY,
Registrar of Contracts and Public Securities.

11.. HOWARD, suaGooN-DENTTIsT, 52,
AL Fleet-street, has introduced an entirely now de-
scription of ARTIFIGIA.L TEE fixed without
springs, wires, or ligatures. They se perfectly resemble
the natural teeth as not to be distinguished from the ori-
ginals by the closest observer ; they will never change
colour or decay, and will be found superior to any teeth
ever before used. This method does not require the
extraction of roots, or any painful operation, and will
support and preserve teeth that aro loose, and is gua-
ranteed to restore articulation and mastication. Decayed
teeth stopped and rendered sound and useful in masti-
cation.

_
" PAINLESS DENTISTRY !"
A NEW PAMPHLET,
Free by post for tour stamps.
NIESSRS. GAB RIEL,
(Established 1815.)
London... 53, Hit-ley-street, Cavandish-square, W.
61, Ludgate-hill, E.C.,
Liverpool 134, Duke-street, and
Brighton
ATTENDANCE DAILY.

.(.I.MEIZICAN MARK E 7 S.

(From th S"pring field Republican.)
FRIDAY EVENING, June 19.
At Beston, New York, and all the great business centres
of the \Vest, the money market is excessively dull, and
" filthy lucre" is "dirt cheap." The prevailing rates are
so low everywhere as to cease to be significant. When
the demand for any commodity sinks below a certain
point, paces fail to obey a law, and are just about what
they happen to be. It is only under a certain degree of
tension that the proportion between supply and demand
determines price with any accuracy. At New York money
to the brokers ranges from 3 to 5 per cent. according to
terms and collaterals offered, more generally at the smaller
figure. In many instances, during the week; short loans
have been made as low as one per cent. on approved se-
curity. Business paper has to pay more owing to the
" ticklishness of things," rather than to any present or
prospective demand for funds, The market is likelier to
grow flabbier all through the summer months, and even
the traditional stringeney bahleatioect,o, " move the crops"
will hardly occur in the face of the heavy disbursements
and light receipts for the three months intervening, which
are sure to liberate the greater part of the $10,000,000 of
currency now held by the Treasury.
Gold has risen within the week, notwithstanding the
prospect of the disbursement by Government of $31,000,000
for the July interest, and $3,000,000 on the principal of
the debt. The excess of imports over exports has become
so decided as steadily to draw down the supply both in the
banks and in the sub-treasury. The total imports at New
York for the week have been $5,013,079, against
$4,259,310 of the week before ; imports of dry goods for
the week $1,206,766, against $1,047,219 of the week be-
fore, and against $925,695 for the same week last year.
The shipments of specie for the week have reached
$2,967,3e1, making a total since January 1 of $13,656,582,
against half that sum last year. This excessive and almost
unprejudiced drain of specie need not injuriously
affect our monetary affairs, in our present state of
chronic suspension; but it looks badly for our commer-
cial relations. The United States is eminently a producer
of ,the precious metals, but hardly at that rate. This
is not all, however. If the loss of the six months about to
close " squared up" our accounts with Europa, it might
do; but the New York World of the 15th inst. estimates
the amount at present due to Europa, including its share
of the coup ms and theB,ooo,ooo of principal, at $21,680,000,
which would leave less than $17,000,000 of the July inte-
rest to remain in.the country to meet the constantly in-
creasing demand for imports and gold duties. There will
then be, by the World's figuring, only $42,000,000 of gold
in the Treasury, against $70,000,000 (deducting gold cer-
tificate) on the let ofJune. The New York Times, on the
other hand, stigmatizes the World's articles as in the inte-
rest of the " bulls," and designed to carry gold up to 145
and to secure a harvest to holders. It declares that the
July payments will leave $61,000,000 in the Treasury, and
that the balances said to be duo abroad for interest and
principal In July, and foreign merchandise sold, would be
mostly left here for investment in United States Stocks, or
for temporary employment as long as the market scarcity
of gold continued. Moreover, it declares that the propor-
tion of the July disbursements which "the organs of the
gold room" assert is to go abroad, " is an exaggeration by
full one-half." The question is an interesting one, because
it will vitally affect the whole body of our imports. Some
of the allegations of the Times are well supported, but no
amount of figuring will do away with the fact of lessening
balances, rapidly increasing exports, and prices rising
under the prospect of heavy eisbursaments. The effects
may not be experienced to the effect predicted by th
World, but there is every reason to anticipate a stiff gold
market and an advancing premium, carrying along with it
the whole line of governments. The following are the
quota ions of Exchange: bankers' sixty days bills on Eng-
-lan7l, 110 to 115 k ; at throe days, 110/ to 1101; commer-
cial bills, 1091 to 1091; bankers' bills on Paris, long,
5.15 to 5.121; short sight, 5.114 to 5.10 ; Hamburg, 36
to 391.
The market for Governments continues strong, and
the exportable bonds particularly are in request. The
wenties of 1862 are higher, and likely to be still
better. The New Five-Twenties of 1862 and the United
States Six per Cant. Currency Bends issued to the Pacific
railroads, were called for the first time on Wednesday at
the Now York Board. The former were quoted at 1091 to
10910 ex-coupons, and the latter 102 k to 103 and interest.
The New York Sun of Wednesday says :—" It ii doubtless
the intention of Secretary M'Culloch to buy up the Five-
T wenties of 1862 as soon as the Seven-Thirty Notes shall
have been retired, and it will be remembered that upon
the passage by Congress of the Act legalizing the issue of
the early Five-Twenties an annual reservation by the
Secretary of the Treasury of 1 per cent. interest in gold
is authorized by the eventual absorption of this bond."
The Treasury has already begun to pay in gold the prin-
cipal of the United States Mexican Loan of 1816-8, with
an abatement of interest from now to the Ist of July, when
the bonds fall due.
The general stock market has been considerably ne-
glected in the interest attending the rise of gold and the
strengthening of the Government Bondi. Railways have
been bat in moderate request at New York, with prices
generally firm, and in two or three cases higher. R
and the North-West Stocks have been particularly active.
The transfer-books of the Chicago and North-Western
closed on "Wednesday for the Ten per Cent. Scrip, to be
divided on both the common and the preferred stock.
Before the eose of the day an injunction (of course) was
announced, but the brokers had so far lost their respect for
that time-honoured procedure that they stood rather higher
after than before. There seems to be no doubt that the
injunction will be speedily dissolved,-as the ground it
stands on aro manifestly insufficient. Rock Island con-
tinues to feel the impulse of its friendly adjustment, and
is slowly rising. New York Bank Stocks are in re-
quest. Two of them have already declared semi-annual
dividends of eight per cent., payable July 1, which shows
either pretty good banking, or else that the provisions
of the National Banking Act are fully as liberal as
the public interest demands. The Stockholder says:
" The number of fire insurance companies declaCtig
dividends in January and July is over 60, with capital
stock ranging from $150,000 to $1,000,000 each, and pay-
ing dividends from 7to 20 par cent. per annum. Far the
larger part of the companies pay either 10 or 12 per cent.
per annum. The amount of the city and Brooklyn Fire
Insurance Capital Stools is about $23,000,000, the semi-
annual dividend amounting to SOlll3 $1,600,000, of which
more than three-fourths is disbursed in July." The fall
in Virginia Sixes, owing to the failure of the State to pro-
vide for the July interest, has been checked, and the bonds
are again rising, under the prevailing impression that
whether the interest is paid promptly this time or not, the
whole line of the Middle-State Stocks cannot fail, with
the happy accomplishment of reconstruction, to be of good
property. The total of the State Debt of Virginia is
$14,000,000 ; but this is represented by interests in rail-
roads amounting to $17,563,299, and $10,400,000 in the
James River and Kanawha Canal, making a total of
$27,963,299, and if West Virginia assume one-third of the
whole debt as her share, it will leave less than $30,000,000
as the debt proper of Virginia, nearly two-thirds of it
representing railroad and canal interests. Speaking of
Southern railroads, it is noticeable that they appear
as a general thing to be doing very well, notwith-
standing their embarrassments, and the beggary in which
the war left them. The Georgia lines, particularly, are
making dividends out of their earnings, which indicate
something of s change in their condition since Sherman's
great march. The superabundant capital of the North
will begin to flow freely in that direction just as soon as
real and permanent "peace" is established. There are
railroads in Georgia which are capable of earning a great
deal more money to the mile than any road in Massachu-
setts or New York. The whole border state bond list
continues active under the prospect of reconstruction, and
North Carolinas and Virginias are in particular request.
Tennessee sixes are 7.49, against 72 at last weeklfreport ;
North Carolinas, 73, against 68; ; Virginias, 581, against
56. At Boston the stock market complains that it does
not feel the ease of the money markets, and sales are
limited, and hard to effect without a disposition to sacri-
fice. Ilide and Leather bank shares have fallen off to 96
under fresh discoveries in regard to the extent of the de-
falcation.
Tho domestic dry goods market remains without
decided change ; cotton continues depressed, and
there aro no indications of improvement, and in fact
no reason why it should improve. The last symptom of
spring trade has disappeared, and dealers have had to ac-
cept the unsatisfactory result as best they could. The
larger houses are busying themselves with preparations
for the fall campaign; and the clerks are very generally
taking or arranging to take their vacations much earlier
than usual, so as to be at their posts promptly for the
opening of trade. Apprehensions are expressed in some
quarters lest manufacturers and mill owners should prove
to have been so badly served the last year, as to induce
them to keep their establishments closed, and thus create
a scarcity come fall. But there is little fear of that. Men
are net likely to DA gne, three, pr aye hundred theuroaci

dollars of capital lie idle when there is a reasonable show
for manufacturing. As to their having been scorched last
year, why they must learn to get used to that. Cotton
and woollen machinery has been accumulated so mulch in
excess in this country that we are sure for several years
to have over-manufacturing, whenever there is any pro-
vocation to manufacture at all. Et is the curse of a. pro-
duction too highly stimulated, whether by intl.ite(l, cur-
currency, by war, or by extravagant protection.

(From the Wall-street fovrnal.)
Nr: w YORK, Friday Evening, June 19.
Foreign Exchange is firm, and the suprly of commercial
bills being limited the business done has been mostly
against specie and bars.
Railroad Stocks have not been wonderfully active, the
market being so largely controlled by cliques. We regret
to note the failure to-day of a well-known stock firm in
connection with contracts in Reading, Erie, and Chicago
and North-Western. The injunction on this lat er com-
pany, restraining the payment of the dividend, has re-
sulted in a material decline in that stock, it being reported
that this is but a series of suits against companies, declar-
ing stock dividends. The heaviest transactions and the
most marked advance has been in Philadelphia and Read-
ing, which has been sold as high as 1008 under a steady
demand from strong parties. The rapid advance of this
stock from 931 a few days since has induced inquiry
into the condition of the company's affairs, and from
the last annual report we learn that the gross earnings
in the fiscal year ending the 30th of November, 1867,
were $9,106,496, and the total operating expenses
$5,767,858, so that the receipts exceeded the cost of work-
ing the road by the sum of $3,338,638, or, a`.ter deduct-
ing other outlays not included in the operating expenses,
$2,846,062. The bonded debt of the company amounts to
£6,560,825, and the interest paid on this during the year
was $395,180, leaving the net earnings, after deducting
all the expenditures (exclusive of a charge of $63,600 for
the sinking fund), $2,444,881. In addition to the regular
earnings the company received from the Schuylkill Navi-
gation Company, for its proportion of rents, &c., the snm
of $116,195. which raised the net receipts for the year to
the sum of $2,492,473, or about 12 per cent. on the capital
stock of $22,304,301, which would leave a surplus on
hand, after paying a five per cent. cash dividend, of about
a million and a half. Apart from $1,551,800 of preferred
stock, the obligations already enumerated represent the
entire stock and bonded debt of the company a little
over thirty millions. The report says that the design to
maintain a gold basis for any increase of the capital stock
has been fully carried out, and, as the accounts show, the
addition to capital resulting from the declaration of a
dividend in stock has yielded the same result to the com-
pany, as the negotiation or issue of so much stock at per
in gold, and the managers refer with satisfaction to the
great reduction, amounting to $6,000,000, made in the
funded debt during the past five years.
Railroad Bonds are very active, with large sales. The
Union Pacific Railroad Company have advanced the price
of their first mortgage bonds to 102.
Miscellaneous Stocks are steady, with a fair business in
Quicfcsilver. Canton, Boston Water Power, Bankers' and
Brokers' Association, have declined to 106.
Petroleum Stocks axe generally firm, with a good busi-
ness doing.
Mining Stocks have been excited on the Colorado .en-
terprises, in consequence of the good news from that re-
gios, the run being principally on Consolidated Gregory,
New York, Montana, and Smith and Parmelee. There is
also a good inquiry for Consolidated Colorado and Grass
Valley.
We learn that the Treasul j Office is now paying out in
gold the principal of the United States Loan of 1848-68,
with an abatement of the interest hence to the Ist July,
when the loan falls due.

NEW YORE RATES OF EXCHANGE,
June 19, 1868.
Sixty Days. Three Dayr,
London Bankers
London, Prime Commercial
510J1-109
5.121
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers 36 —361
Frankfort, 0.31 4Ol-411
Berlin and Cologne
Antwerp 5.161-5.121
Amsterdam, Bankers
Swiss
The following for the Now York City Bank Stocks:—
Merchants'
America
Butchers and Drovers 135 Broa,dway, 250
City
New York
Manhattan
Mechanics' l3O People's
Union
Phenix loB} Nassau lO5
Tradesmen's
Gallatin National
Merchants' Exchange 116 Continental lO5
Seventh Ward
State of New York ... 117 Commonwealth
Commerce
Ocean
109 Central National
American Exchange... 120 Fourth National .. 110
Bark of the Republic... 120 Ninth National
Bank of North America 111 Park. 155
Eleventh Ward ........ 105 LeatherManufacturers' 170
Mercantile
Fulton l6O Tenth National
First National 207 East River
New York County l4O Pacific l6O
Marine 144 Chatham 149
Grocers'
The following were the closing quotations for the
various Public Funds of the United States in New York :
Sixes, 1868, registered - 142 to 142}
Sixes, 1868, coupon 142 to 142+
Sixes, 1881, coupon ll7l to 1171
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1865, coupon
Five-twenties, 1865, coupon, new
Five-twenties, 1867, coupon
Ten-forties, coupon lo6+ to 1061
Seven-thirties, 2d series
Seven-thirties, 3d series
The following wore the closing quotations this evening
for the Railroad and Miscellaneous Stocks :
N. Y. Central l33+ Fort Wayne
Erie
Hodson
Reading
Mich. South. &N. 1.... 901 W. U. Telegraph
Illinois Central
Cleveland & Pittsbrg B9l Ohio and Mississippi... 29
North-West
North-West Preferred 773: Cumberland
Canton 4Bl Bankers and Brokers... 106
Rock Island
Cleveland and Toledo 1071 I St. Paul Preferred
By telegram from San Francisco, dated May 20, 1868
we have the following quotations :
Gould and Curry ... ... ...
Savage
Cho_lar-Potosi ... ... ...
Ophir ••• ..• ••• •••
Hale and Narcross ... ... m
Crown Point ••• ••• •••
Yellow Jacket ... ... •••
Belcher
Alpha ... ... ... ... ...
Kentucky ... ... ••• •••
Bullion ••• ••• ••• •••
Overman ••• ..• •••
Empire Mill ... ... ... ...
Imperial ... ... ••• •••
Confidence ... ... ... •••
Amader ••• ••• ••• ..•
Exchequer ... ... ... •••
Quartz Hill ... ... ... •..
Lady Byron ... ... ... ...
Express Stocks are quoted as follows :
Aflams ... ... •.. ...
American ... ... ... ...
United States .. ... ...
Wells, Fat go, and Co. ... ...
Merchants' Union, 35 per cent....

... $ll5 per foo.
3,153
~. 255

... 2,098 „
... 2,102 „
... 1,160 ~

••• 11

56
,•• 1,

355 ;

••• • •• 77

~. ••• n

••• ••• ~
... 167 pr share.

... ••• 17

••• ... 11

r•• ... 1,

... ... .),

... ... n

• 56 to
... 511 to
• 511 to
261 to
... 271 to

(From Messrs. Satterthwaite's Circular.)
LONDON, July 1,

There has been a fair amount of business in the London
market for American Securities since our last, and quo-
tations on the whole have been well sustained ; United
States 5-20's of 1862 leave off 73 to I, and the 1865's 72 to
}, Illinois 1011 to , and Erie 45 to 46.
Virginia Six per Cent. Bonds, in consequence of the non-
payment of the half-year's interest, due to-day, have de-
clined to 31 to 36. The arrangements proposed by the
directors for funding over-due Coupons, and resuming pay-
ment of interest en the various securities of thn Atlantic
and Great Western, has had but little effect on the quota.
tions, Consolidated Bonds closing same as this day weer;
331 to I, and the Deb3ntures 28 to 29.

RAILROADS IN MAINE.—The various railroad en-
terprises in Maine that have been commenced re-
cently are making rapid headway. The European
and North American Railway has been graded as
far as Lincoln. Bangor proposes to penetrate the
Piscataquis Valley by bands of iron, and Belfast
intends to do the same, and push on to Moosehead
Lake. The Knox and Lincoln Road, from Brook-
land to Bath, has been surveyed, and the work of
building will be shortly commenced. This road
will cost nearly one million and a half dollars. The
Dexter and Newport lioad is nearly completed,
while the Somerset Road, from West Waterville to
Canatunk Falls, has nearly all its stock taken up.
The Portland and Rochester Road is getting alone,
well, and the work of grading is nearly finished.
Several other roads are projected.—Wall Street
Journal.

The prices of Horniman's Teas are greatly reduced ; their
well-known superiority has attracted a host of spurious
imitations; therefore notice all Genuine Packets are signed,
" Horniman 4- C 0.," London. 800 Confectioners are Agents
in London end 2,2oo.Glavaziataiktho Gantry.