The Sun.
London, England, 1868-05-28 00:00:00

MONEY MARKETS AND BUSINESS.

(From the Correspondent of the Anglo-American Times.)
At Boston the rates of discount still hold up to 7
to 7i to 8 per cent. There is not much to lend,
nor many who want to borrow. At Chicago there
is a light demand, and money rules easy at 10 per
cent. At San Francisco increased activity is re-
ported, and 12 to 15 per cent. is paid for accommo-
dation. At New York money is easy, with a lower
tendency. Call loans range from 6 to 7 per cent.,
according to character; discount 7 to 8, with, in
each ease, a preference for the under figure. There
is a tendency to hold money out of investment, ex-
cept the necessarily limited amount required for
real estate operators. The aggregate of deposits
in the city banks has increased fifteen millions iu

as many days.
The stock market at New York has been quiet,
but firm. The New York roads have risen, and

are strong at the advance. The western shares are
active at better quotations, particularly Michigan
Southern, and North-western Preferred. Pacific
Mail is still being assailed by anonymous pamphle-
teers, but the decline has been arrested, and shares
have risen to 931, where they stand firm. Hartford
and Erie is 1 better at Boston. Governments are
not so active as early in the week, but the prices
are well maintained. There has been a consider-
able investment in them from the proceeds of

the May dividends, and they may he expected to
hold firm. It is believed that the effect of the re-

pudiation outcry is exhausted, and that the gold
interest bearing bondi of the Government will as-
sume their proper place in the public estimation.
The New York Journal of Commerce indicates a new
clement in the demand for Five-Twenties, particu-
larly those of 1562, as follows—" The advance in
the price of small Government Bonds has brought
out the fact that these securities are now used
largely in place of letters of credit. This is espe-
cially true of German and continental travellers
visiting Europe. They carry small United States
Bonds with them, and find them much cheaper
and easier of negotiation than the old-fashioned
Bankers' letters."

The analysis of the public debt statement for the
Ist of May shows that the coin interest debt has
increased from last report $18,937,450 by the con-
version of Seven-Thirties. The currency interest
debt has decreased $21,390,700, partly by conver-
sion and the rest by purchase at New York. The
matured debt not presented for payment has de-
creased $1,311,100. The debt not bearing interest
has increased $1,477,640. Total decrease for the
month, $2,106,700. The amount of coin and cur-
rency in the Treasury has increased $16,574,189,
leaving the Government better off by $18,680,859
than the month before. This exhibit will pro-
bably be sufficient to satisfy the croakers of the
integrity of our finances, and must have a decided
influence upon the reception of the bill revising the
revenue, which is to bs introduced into the House
next week. The import entries at New York have
been 5,395,813 against $4,292,967 of last year.
The increase iu customs duties is going far to ba-
lance the falling off in internal revenue receipts.
The export clearances of domestic produce amount
to $4,170,473 against $3,314,702. The total value
(in gold) of import duties of foreign merchandise
since July 1, 1867, of $201,055,836 against
$229,688,516, a decrease of $28,688,516, while the
decrease in the currency value in domestic produce
and miscellaneous goode exported for the same time
is only $2,057,617, the figures being $153,199,158
against $155,256,775.
There has been less activity during the week in
breadstuffs, and in many articles a marked depres-
sion. Western and State flour have made a con-
siderable decline under unfavourable advices from
Europe and the fall in wheat. Rye flour and corn
meal are firm, at better quotations. The price of
wheat was borne down by unexpectedly large re-
ceipts, but the decline seems at this time to be
checked.
Provisions of all kinds are firm at the advance of
last week ; pork has risen 75 cents a barrel upon a
previous rise of $2 to $2.25. At the present figures,
however, holders think it wise to realise, and the
market supply is increasing so fast that a decline is
not improbable. Cotton rose early in the week,
reaching 332 for Texas and New Orleans, and at
the same time the anomaly was presented of cotton
goods falling. The high price of cotton had for
some time held up the price of the manufactured
article against a strong downward tendency and the
influence of a large supply. It was evident that
its power to do this could not go beyond a certain
point or last long. The two are now getting to-
gether again, cotton having declined heavily from
Wednesday to Thursday. In wool and woollens
there has been a quiet market, with a steady de-
mand. Seasonable goods are looking up, and
something is being done to make up for the tardi-
ness of the April trade.
At New York, 7th May, money closed buoyant
at 6 per cent. on call, with exceptions at 7. Ster-
ling exchange steady at 100 to 110.1, with more
demand. Gold firm, opened at 1391, advanced to
1392, and closed at 1391. The assistant treasurer
sold $150,000, and paid out as interest $495,000.
Export to-day $1,090,340. Governments a
shade better for Sixes of 1881, and Five-
twenties of 1862 and 1867, closing strong with
demand, mainly on the 67's, old 65's, and Seven-
Thirties. The assistant-treasurer bought no Seven-
Thirties, being unprepared to pay 1071. The Stock
Exchange and Open Board have united to organize
a stock clearing house. Stocks are more active,
with a general advance of T 33; to 2 per oeut. New
York Central, Rock Island, and Missouri 6's were
in especial demand. Late in the afternoon there
was some yielding in the market, apparently from
sales to realize, and it closed dull, but steady.
At New York, American gold 1391, United
States Coupon Sixes (1881) 1131 to 1132, United
States Five-Twenties (1862) 1081 to 108$, (1864)
1061 to 1062, (1865) 107 to 107*, (1865, new) 109
to 109*, (1867) 109$ to 109/, United States Ten-
Forties 103 to 103*, United States Seven-Thirties
1071 to 1071, Missouri Sixes 91, Tennessee Sixes
(new) 661, New York Central Railroad 1281 to
1282, Erie 692 to 695, Preferred 72 to 74, Hud-
son River 1361 to 1365, Reading 901 to 902
Michigan Central 110 to 120, Michigan South-
ern and Northern Indiana 84 to 84*, Illinois
Central 146, Cleveland and Pittsburg 84/ to 841,
Cleveland and Toledo 1051 to 106, Chicago, Rock
Island, and Pacific 943. to 942, Chicago and North-
western 652 to 66, Chicago and North-western Pre-
ferred 762 to 761, Pittsburg, Fort Wayne, and
Chicago 1061 to 1061, Ohio and Mississippi certifi-
cates 311 to 311, Toledo and Wabash 511 to 511 ;
Milwaukee and St. Paul 632 to 64, Adams Express
Company 61/ to 612, Merchants' Union 31 to 311,
Pacific Mail Steamship Company 931 to 935, At-
lantic Mail Steamship Company 32 to 35, Cumber-
land Coal Company Preferred 32 to 33, Canton
511- to 52, Quicksilver 311 to 312, Boston Water
Power Company 20 to 21.
At Hartford, Adams Express Company 622,
American 60/, United States 62, Merchants' Union
31-t, Wells, Fargo, and Co. 26 ; Hartford Accident
Insurance Company 75 ; General Life 99 ; National
Exchange Bank 57 ; Connecticut Sixes 100 ; New
York and New Haven, Railroad 151.

(From the (Vall-street Journal.)
NEW YORK, May 9.
The Money Market is easy, and at Six per Cent.
on call borrowers are readily supplied.
Discounts are restricted from the want of first-
class paper, which passes readily at 6 to 7i per