The New York herald., 1868-05-25

NIT, eight thousand feet above the sea level,
being now left fifty miles behind by the
working party. 1t Is calculated by the contractors
that three hundred and fifty miles viii be completed
by the close Of the year. and that as the Central Pa
cihc Company Is rapidly advancing from the Pacific
sde the distance between the two lines will be only
six hundred miles, or third Of the entire distance
from Omaha to Sacramento. The rapidity with
which the line has been constructed is unexamped
when we consider the obstacles that have had to be
overcome The arrival here Of the Embassy nom China
suggestive OF the Oriental commerce which rail-
way stretching across the Continent will open up to
us, no uncomfortable part OF the trafic between
Europe and China and the adjacent Islands being
likely to be diverted over this great highway. It's
progress Is therefore invested with national as well
as q commercial interest. .d..
The money market was extremely easy at s a 6
per cent with the great majority OF loans at five,
while there were not few exceptional transactions,
where the leading dealers in government securities
were concerned, at four. The statement OF the as.
ISOLATED banks Of this city for the week ending yes
terday reflects this condition Of airs the legal ten
der notes showing an increase OF $4 and the
deposits OF $1194,2i5, while there Is decrease in
the loans Of $S4S5 in the specie Of $4o 1876 and in
the circulation Of $10S1 The totals Of the present
and last previous statements are as subjoined:-
MaV 49, Mdv %.
Loans s...............$ $267 724,7s3 $267, 1881, ,279
specie. ............... 20939,l4 20,476,947
Circulation. ........... 34,le3,2i9 34,ls3,o OBS
DepOslts ............ Z0l,3l3,o0o ZOZ,0OI,ooO
Legal tenders........ 67ol3,095 oZ,Z33,OOZ
The foreign exchange market was firm during the
early part OF the week, but afterwards it became
rather heavy IN tone, although rates were unaltered
There Is no immediate prospect OF decline in the
latter below the specie shipping point owing to the
limited supply Of cotton and general produce bills.
1t Is reasonable, however, to look for falling of
in the exports of gold, those for the
last few weeks having been large even for
the season. The receipts OF cotton at all
the ports are on q greatly reduced scale,
those for last week having been only IL $40 bales
but the total since September is 2107 900, against
1,712s50 bales for the corresponding period in the
previous year. It s argued that the receipts at
the ports have thus far been larger than they would
have been If cotton had not advanced considerably in
price since the beginning OF the year that therefore,
they will be lighter than usual during the remainder
Of the season, the interior stocks being low The
ports also small, those for the week from all the
ports having being only 27,4oo bales. The exports
since the 1st Of September, however, aggre
gate 1,57o,15O bales against l,2e7lso bales
for the same period in 1S66-7. The stocks
at all the ports are low compared with
those at this time last year, the total being
1872 bales against 1876 21O The stock Of cotton
Liverpool on the 9th inst. 542 400 bales, and in
London 41,1oO. while there were 10000 bales of
American cotton aaOat and $780, 900 of Indian. Az
the same time in 1857 Liverpool had s13O5O bales
and London As, 900, while there 49, 900 bales of
American afoat and $50, 100 of Indian. The closing
rates Of Exchange were as subjoined bankers
bills on England at sixty days, 10 11OS; at three
days, 1lo2 1lOh; commercial, 1ooh 1o9%. Bills
on Paris at sixty days, 5.1324 512h.
Annexed Is comparative statement showing the
shipments OF specie from this port last week and
during the year to date together with those for the
corresponding periods in 1866 and 1se7:--
1865. 1867 1868.
Twenty first week. $942l,77 $1,4S3 667 $3,947637
Previously repOrted l6964, ,OO6 14,994.47s 29OOO.359