Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-10-24
Pa, - 3 z.


For the past two or three days there has been peTcep
Die indications that the CT isis Of the recent financial PRES
sure had passed, aad that monetary affairs were gradu.
any working towards easy AMI comfortable condi-
ton. The Boston Journal Of last evening. SAYS;
money is growing easier outside with some negotia.
IC's at 10 per cent; for paper which is Known to be with
Gus repIoach Many Of the banks are receiving more
na they can Conveniently dscountfng everything
mat is offered and the rest Of them are fast get1 In7
the same position The large borrowers bsing ont az the
sISet makes psrcepihe difference, and with The con-
drug" 01e'---~
similar improvement is noted in New York. bv tbe
journals Of that city The Express OF Thursday even
ing says:
'Fhe Metropolitan Bank has thus so lar issued certi
hcates for 50 00a000 Of currency or one tenth NJ The
currency OF the State In short time as O0O non Mi
be thus absorbed forcing the City Banks to specie ia
settlement There is M inclination anywhere to make
new currency and great prospect for CURRENCY ronr
west for Produc az there is barely enough now to do
the very Day business at home The Metropolitan Bank
does not get much New England money the same nm
dence existing there which il shown by orr city banks
contraction with all reasonable speed is the policy Of All
the banEs IN the lace OF all professions Of all liberal dis.
counts
There is no alienation in the pressure for money and
extensions are asked for constantly by houses of rst
rate reputation, and OF known sovency Tbese e,fen.
sions made imperative, we regret to saw NV the vent
Of exerOns the part of merchants indebted IN i'm,
porters and obbers to meet their by sacr
fees Of property. The extension fever has become An
epidemic, which entails serious losses upon Ne YORK
We hear Of cases in which Western merchants who AT
an extension Of eight months upon obligations ma
turing nert May were reprimanded with good deaf of
ssprly and sent home with the that unless
active steps taken by them pay up, they would
the claims against them put in the way Of speedy
collection at maturity.
little Of the sharp talk will do no harm Forbesr-
is all well enough in its way but when merchants
out Of town cooy ask obbbers and importers extend
their paper at per cent while they 60 to protest be-
they cannot buy money 33 per cent per annum
self protection demands something else besides fms
speeches"
And the Tribune of Friday, has the following in its
editorial columns:
'Rather better feeling is growing up among mer-
chants The banks are accommodating their customers
to the extent of their ability and confidence in the future
is increased By anticipsons from the forward movement
OF the crops There was slight decline yesterday in
the stock market where transactions still mainly for
cash. The supply Of money is increasing, and the rates
for paper have slight downward tendency, but call
loans still difficult to make In exchanges there
change The demand for gold is not so great as wasp
By such efforts these, througha perfect understand
ing among the banks, of plan of cooperation, it
would appear that the day is not far Distant when the
present distressing stDgency in the money market will
berelieved and their trade and business again
its old channels
We notice in the leading commercial journals of the
country, general decline in the prices OF almost all
articles Of traffic, except breadstus in the Eastern
States and at New York and Albany, which have contn
ued to advance for the last few days in consequence of
light stock in all the principal Eastern markets. but
hoped and expected that some ;o1ccrte1 ngements
will long be made by banks capitalists 10 move the
crops forward to the sesbOard before the ice king lays
embargo upon the lakes and canals of the West The N
Y Herald of yesterday says:
several large andl extensively known houses in this
city have siguided their willingness to receive consign-
ments of flour and grain from the West, among whom,
besides Messrs. Spofford Tileston, we may mention
Messrs 6rinnel Minturn, Co., and others have been
mentioned willing to do the thing, and to pay
freight and charges 10 this port with the of aiding
in the movement of breadstus from the interior the
seaboard by which the present pressure may be aevat
ed, and exchs nges equalzed."
At the Brokers' Board, Boston, yesterday the following
stocks were sold at the prices annexed: