The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-28
AND COMMERCIAL.
MONEY MARKET.

The further intelligence from Europe dated Lon
don this day, and transmitted by Atlantic telegraph
enables the public TO judge of the stupendons conse
ouences which viii 1ow from the new treaty with
China The Chinese empire is thrown open to all
nations. Henceforth all that immense and amazing
iy populous region which hes in the interior Of
China viii be as free to foreign vessels and foreign
merchandise as Liverpool or Havre. II is not likely
that at first there will be much foreign merchandise
sent 10 China, from the simple reason that travel
lers represent the Chinese as needing nothing
which foreigners can supply. But few woolens
and cottons, and some machinery, could
be placed almost In any large interior city Of China;
and but very brief space will eapse before inter
course with the foreign world viii develope want
among the Chinese which foreigners viii only he
too happy to satisfy. No country is better adapted
for full development ofour railroad telegraph and
steamboat system than China AZ present, The
trade of the foreign civilized world Wiz China
roughly estimated at sixty millions gear consists
OF an exchange Of silver on tie one hand, against
tea, silks, merchandise &c. onthe other. Nov, this
traffic will become mere legitimate interchange OF
products, and Europe aud the United States viii
cease to be drained Of silver for the bensdt OF the
Chinese.
BY the arrival Of the Cunarders mails from Bos.
ton, we have few items in addition to our tele-
graphic summary. The return from the Bank of
England for the week ending the llth of August
gives the following results, when compared with the
previous week.
Public deposits ,7o3 Increase. 1856 .ses
Other deposits IL, z,964 Decrease 4l8,e4i
hest oyhAiV VII lnCreaSe lsoS4
On the other side Of the account
Government securities o54 Increase. f96 6s7
Other securities 1b,sl6o6o Decrease. 81 loa
Notes unemployed.... 1o,4l9sl6 Increase. 1o2 ,4o5
The amount of notes in circulation is f20 900 AIS,
being decrease of ELY ,2lo, and the stock of bull
lion in both departments is eli 23S $50, showing
decrease of fl02 III when compared with the pre-
ceding return.
E. f. Satterthwaite says
There has been quiet market for American securities
in London during the past week. We NOTE however,
come important transactions In Illinois freela1d and
structon bonds In New York Erie Sd mortgage and
In Michigan Central LIST mortgage bonds AZ the dividends
ell these bonds fall due In short period. and
anxiety felt rs TO their becg pupctualy paid they have
been much sought after by nvesers 70 secure the nte
rest PepnsylvaDa and New York Central bonds
firmly maintained, with moderate transactions. New York
GENITAL etcck shows tendency TO advance on tue ae
preaching dividend Illinois Central have been dealt in 10
Q fair extent, ct about previous rates.
The business at the Stock Board this morning was
light, but there was no change in prices The bust
nesslke celebration displayed by the Erie Company
at their meeting yesterday, seems TO have disap-
pointed some of the bulls, who imagined that the
quarrel would be adjusted in few hours 1t is now
well understood that whatever may be the upshot OF
the present negotiations, it must take days and
weeks under the most favorable circumstances be.
fore all the details of settlement be arranged
and matters placed on the footing which they occu.
pied before the war; 1t is expected that the Presi-
dents Of the Baltimore and Ohio and Pennsylvania
Central will be in town early next week, a,
which time further consultation among
the Presidents will probably take place. Eric was
lower this morning by quarter per cent. Central
held its own, with large sales. The Western rail
way stocks were generally steady at yesterday after
Moons prices. Michigan Central was per cent bet.
ter, and Southern I; Milwaukee and Mississippi,
under the influence Of favorable news regarding the
finances Of the concern, improved q per cent.
Reading opened at yesterdays price, but closed on
the second call lower. Advices from Philadelphia
state that the weeks business was only $500
TONS against 1920 by the canal. II would
seem, also, from the memorandum publish
cd by the company, that while the revenue
is declining, the expenses this year are four
per cent higher than last. The business in bank
stocks was a fair average; American Exchange is
higher than last SALE There Is no change TO re-
port in State securities, which are dull but steady.
La Crosse land grants continue TO improve, and are
quoted per cent higher than was the price yes
terday.- The Board, before adjourning, appointed
committee TO negotiate with the directors Of the
Atlantic Telegraph, with view TO obtain the Lon
don markets Of the day on the opening Of the first
board. Great dissatisfaction Is created by the un.
accountable unwilngness of the company to make
public reports Of the foreign markets and of the
movements in consols and money. couple Of lines
a day would be literally paid for, aud, besides sa-
tisfying the public, would relieve the directors from
uncharitable suspicious now afoat
The market closed firm, and was higher though
without much business at the second board. The
Western railways were all shade higher; but there
was no activity in any Of them bat Cleveland and
Toledo. The closing bids at Groesbeck's were: for
Central 79i; Erie, l7r Reading, 49l; Michigan Cen
trial, 5si; Southern, gag; Panama, III; Galena s3i
Toledo, IS; Rock Island, 73l; Pacific Mail So, &c,
&c. The market closed steady, the bears makingno
effort worth mentioning 10 resist the upward ten.
dency Of prices.
The exchanges al the Bank Clearing House this
morning were sl3 $685. i6 03, and the balances
ss7 093 10. The Metropolitan certificates are So ooO
The business Of the Sub Treasury was as follows
to-day
-W Which from customs. lsz 900 90
Iota pay men~ 1es,26s a.
lohi 10
The following letter was received by the last Eng
lish mail by merchant In this city, who inquired
Of the Hudson's Bay Company whether goods and
merchandise might be sent from hence TO Fraser
river -
HrpsoS-s BAY Housr, I