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 the east side of Gracechurch-street, and
the north side of Fenchurch-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.N.—Part of a Ten-roomed House,
pleasantly situated in Islington.—Apply at No. 6,
Crowland-terrace, Englefield-road, N.

FURNISHED APARTMENTS.—N Drawing
Room and Bed Room to be Let, situated in a cheerful and
healthy part of Kensington, in the house of a Privlte Family.
Applications through Messrs. G. W. Bayley and Wickham, New-
land-terrace, Kensington.

VLAPIIA.M.—A.PARTMENTS well Furnishe d
k.J and highly Respectable in a Gentleman's Private
Family, pleasantly situate, with large Garden. Attend-
ance and every comfort. Very convenient for Rail or.
Omnibus to City and West-end. Apply at the Residence,
34, Lark flail Rise, Clapham, S.W.; or to Mr. SzaTzms ,
The Pavement, Clapham Common.

SC E P PE'S MINERAL WATERS.-
Orders specially prepared for Export to every CliraVe.
Manufactories—London, Liverpool, Derby, Bristol, Glasgow,
Malvern.

DUNVILLE'S V.R. OLD IRISII WHISKY,
BELFAST,
regularly supplied to the Hease of Lords.
" vat." IRISH WHISKY.

DUNVILLE and CO.'S " V.R." OLD IRISH
WHISKY, BELFAST.
London Offices and Stores,
4, BEAUFORT-BUILDINGS, STRAND, W.O.
Established 1303. • Quotations on application.

BEFORE CONSULTING A DENTIST,
inspect (free of charge) Mr. WEITIT9 newly-invented
and unequalled specimens of MECHANICAL 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 he 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 c, Oxford-street, near
Harewood-gate.

CONTRACT FOR SOUTH-WESTERS.
Contract Department, Admiralty, Somerset
House, July 1, 18G8.
'JIHE COMMISSIONERS for EXECUTING
1 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

HOWARD, SURGEON-DENTIST, 52,
Fleet-street, has introduced an entirely new de-
scription of ARTIFICIAL TEETEI, fixed without
springs, wires, or ligatures. They so 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 !hat are loose, and is gua-
ranteed to restore articulation and mastication. Decayed
teeth stopped and rendered sound and useful in masti-
cation.

" PAINLESS DENTISTRY 1"
A NEW PAMPHLET,
Free by post for four stamps.
nESSRS. GAB RIEL,
(Established 1815.)
London 56, Harloy-street, Cavendish-square, W.
17
Liverpool 134, Duke-street, and
Brighton
ATTENDANCE DAILY.

AMERICAN MARKET S.

(From the Springfield Republican.)
FRIDAY EVENING) Juno 19.

At Boston, New York, and all the great business centres
of the West, the money market is excessively dull, and
" filthy lucre" is "dirt cheap." The prevailing rates aro
so low everywhere as to cease to be significant. When
the demand for any commodity sinks below a certain
point, prices 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 stringency in October to "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 tke greater part of the $40,000,000 of
currency now hold by the Treasury.
Gold It is risen within the week, notwithstanding the
prospect of the disbursement by Government of 831,110,000
for the July interest, and $8,000,000 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 cud 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 's'aipments of specie for the week have reached
$2,967,321, 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 Europe, it might
do; but the New York World of the 15th inst. estimates
the amount at present duo to Euro?e, including its share
of the coupons and the 8,000,000 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 of June. 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 due 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 es 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 Time 3 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 disbursements. The effects
may not be experienced to the effect predicted by th
World, bat 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
quotations of Exchange: bankers' sixty days bills on Eng-
land, 110 to 1151; at three (hp, 1101 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-.
I The market for tlovernments continues strong, and
tl the exportable bonds particularly are in request. The
Five-Twenties of 1862 are higher, and likely to be still
better. The New Five-Twenties of 1862 and the United

States Six per Cant. Currency Bonds issued to the Pacific
railroads, were called for the first time on Wednesday at
the Now York Board. The former were quoted at 1094 to
109 k, ex-coupons, and the latter 1024 to 103 and interest.
The New York Sun of Wednesday says :—" It is doubtless
the intention of Secretary M'Culloch to buy up the Five-
Twenties 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 began to pay in gold the prin-
cipal of the United States Mexican Loan of 1846-8, with
an abatement of interest from now to the Ist of July, when
the bonds fall due.

T he general stock market has been considerably ne-
glected in the interest attending the rise of gold and the
strengthening of the Government Bonds. Railways have
been but in moderate request at Now York, with prices
generally firm, and in two or three cases higher. B 3ading
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 Cant. Scrip, to be
divided on both the common and the preferred stock.
Before the close 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 highoi
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. Now 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 declaring
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 7 to 20 per cent. per annum. Par 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 Stook is about $28,000,000, the semi-
annual dividend amounting to some $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
aro 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
$44,000,000 ; but this is represented by interests is 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 ona-third of the
whole debt as her share, it will leave lase 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
well, notwith-
standing a
gentshie.ailr etmhbiaagrratsosmbeintds,oianngd tvhse7beggary in which
the war left them. The Georgia line; particularly, are
making dividends out of their earnings, which indicate
something of a change in their condition since Sherman's
great march. The superabundant capital of the Notch
will begin to flow freely in that direction just as soon as
real and permanent "peace" 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 weekly'report ;
North Carolinas, 73, against 681 ; 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. Ride and Leather bank shares have fallen off to 96
under froshAiscoveries in regard to the extent of the de-
falcation.
The 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 scarc'ty come fall. But there is little fear of that. Men
t are not likely to let one, three, or Aye hundred thousand

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 much 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. [t is the curse of a pro-
duction too highly stimulated, whether by iodated cur-
currency, by war, or by extravagant protection.

(From the Wall-street Journal.)
NEW Yon; Friday Evening, June 19.
Foreign Exchange is firm, and the supply of con imercial
bills being limited the business done has been mostly
against specie and bars.
Railroad Stocks have not been wonderfully acti7e, the
market being so largely controlled by cliques. We regret
to note the failure to-day of a well-known stuck firm in
connection with contracts in Reading, Erie, and Chicago
and North-Western. The injunction on this latter 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 1001 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 $3,388,638, or, after deduct-
ing other outlays not included in the operating expenses,
$2,846,062. The bonded debt of the company amounts to
.D 1,560,825, 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 $68,600 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, dm, 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 $22,301,301, 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 par
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
Quicksilver. Canton, Boston Water Power, Bankers' and
Brokers' Association, have declined to 106.
Petroleum Stocks are 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-
gion, 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 Treasurj 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 YORK RATES OF EXCHANGE,
June 19, 1868.
Sixty Days. Three Daye,
London Bankers
London, Prime Commercial lO3l-109k
Paris, Bankers
Bremen, Bankers
Hamburgh, Bankers 36 —36 f
Frankfort, O.M 4O/-411.
Berlin and Cologne
Antwerp 5.1q-5.12}
Amsterdam, Bankers
Swiss
The following for the New York City Bank Stocks:—

Merchants'
America
Butchers and Drovers 135
City
Nov York

Manufac. and Merchts' 104
Mechanics' Association 121
Broadway
Hanover
Irving lOB
_ _

Manhattan
Mechanics' l3O rooplo's
Union
Phenix lOBl Nassau lO5
Tradesmen's
Gallatin National
Merchants' Exchange 116 Continental lO5
Seventh Ward
State of New York ... 117 Commonwealth
Commerce ' 130 Importers and Traders' 132
Ocean
American Exchange... 120 Fourth National .. 110
Bank of the Republic... 120 Ninth National
Bank of North America 111 Park 155
Eleventh Ward ........ 105 Leather Manufacturers' 170
Mercantile
Fulton l6O Tenth National
First National 207 East River
Now 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 1421
Sixes, 1881, coupon ll7l to 1171
Five-twenties, 1862, coupon
Five-twenties, 1864, coupon
Five-twenties, 1863, coupon
Five-twenties, 1865, coupon, new
Five-twenties, 1867, coupon
Ton-forties, coupon lO6l 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. Control l3ll Fort Wayne
Erie
Hudson
Reading
Mich. South. &N. 1.... 901 W. U. Telegraph
Illinois Central
Cleveland & Pittsbrg B9l Ohio and Mississippi... 29
North-West
North-West Preferred 774. Cumberland
Canton 4Bl Bankers and Brokers... 106
Rock Island
Cleveland and Toledo 1071 St. Paul Preferred
By telegram from San Francisco, dated May 20, 1868,
we have the following quotations :
Gould and Curry ... ... ... ... $415 per foot
Savage 3 153 „
Cholfar-Potosi ... ... ... ... 255 •,
Ophir
Hale and Narcross ...
Crown Point •.,
Yellow Jacket ~
Belcher •..
Alpha ... ...
Kentucky ...
Bullion •..
Overman ...
Empire Mill ...
Imperial ...
Confidence ... m
Amador Gel, .114, •.
Exchequer ... ... ...
Quartz Hill ... ... ... ...
Lady Byron ... ... ... ...
Express Stocks are quoted as follows :
Adams ...
American ...
United States ... .
Wells, Fargo, and Co. ... ...
1 Merchants' Union, 35 per cent.... ...

mai. ,7

... ... 2,098 „
... ... 2,102 77
•• • ... 1,160 „

••• I)

- -
56 „
..• ...
355 „
•I. •••

... ••• 11

••• •1,• ... It

••• ..• ••• ),
... ... 167 pr share.

•r• ..• ••• ••• ~

••• ••• ••• 71

00• •" ~

000 11.6 71

... ... 56 to -
••• ..• •.•
..
,i
to
...
•.. •.. se.. ••• • °
... 51 to -
••• •.. SIPS
... ... 264: to -

... 271 to

(Prom 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
I, Illinois 101 f to I, 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 34 to 36. The arrangements proposed by the
directors for funding over-due Coupons, and resuming pay-
ment of interest en the various securities of the Atlantic
and Great Western, has had but little effect on the quota.
tions, Consolidated Bonds closing same as this day week,
331 to I and the Debentures 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 Road 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 along
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,
florniman 4- C 0.," London. 300 Confectioners are Agents
in London NA 2,2oo.ohvnistkin_tho Country.

PRICE.... 4d.
STAMPED sd.

PIGEON SHOOTING.

GUN CLUB.

Without exception one of the best handicaps that have
been decided on the ground of the above-named club
during the present season took place on Saturday last,
and we cannot but congratulate Mr. Batteock, the secre-
tary, on the success that attended the £lO Sweepstakes,
at 15 birds each, 30 yards' rise. No less than twenty-six
gentlemen competed, inclusive of five post entries, and they
were of course subjected to the usual restrictions. Al-
though J. Offer supplied some capital flying birds, the
shooting throughout was excellent•, and indeed the scores of
Viscount Stormont, the noble president of the club, Major
Whittingstall, Hon. R. C. Hill, and Capt. A. B urnand seemed
to be the most dangerous from tho commencement. In the
thirteenth round, however, Capt. A. Burnand was compelled
to retire ; and at the termination of the fifteenth only Major
Whittingstall, Hon. R. C. Hill, and Viscount Stormont were
left in to compete for the prizes, they having killed a dozen
each. In shooting off Major Whittingstall killed two in
succession, and won the first prize of £lBO. Viscount Stor-
mont and the Hon. R. C. Hill now had to shoot for the
second and third prizes. Viscount Stormont brought down
two, and as the Hon. R. C. Hill missed his second bird, the
noble lord took second monoy, £GO; the third prize, £2O,
going to the Hon. R. C. Hill. Previous to commenc-
ing the handicap the betting was quoted at 100 to 8 agst
Captain Fredericks, and 100 to 6 each agst the others.

The winner shot with a splendid muzzle-loader by
Grant, of St. James's-street, as also did Lord Stormont.
Previous to commencing the above, an important
match was decided between Mr R. Herbert and
Captain Penrith, who shot at 25 birds each, at
30 yards' rise, for a "..pony" -a, side. It was a most
exciting contest throughout, and in the end Begin%ld
Horbmt only won by a bird, he having killed 20 to his
opponent's 19. Captain E. E. Nevile and Mr. H. Rudd
likewise shot a match at a similar distance, for £lO a side,
at seven birds each. Captain Nevile won by killing five,
Mr. Rudd only bringing down three.