The Burlington weekly hawk-eye. [volume] (Burlington, Iowa) 1857-1858, 1857-12-02

abundant this year, and will 60 far to rectify
the troubles both Of America and India, 20 that
We argue the financial troubles will be but Of .
short duration in France and England. The
India war is now manageable, and will soon be
| over. Famine, the worst of all evils, does not
threaten Europe and America, and while the
horn Of plenty is filled, financial evils will give
way TO good management. We observe the
abundance Of corn is 80 great In France that
that country will become . rival of this in sup
plying England with wheat and aour. 1t is the
oniy European country that can do DO as its
proximity gives it an advantage.
DRY GOODS.
There 10 nothing new to report in the state of
this market. The collections on the whole are
improving, and there is limited inquiry for
goods both from FIRST and second hands. Prices
have assumed degree Of steadincss At the great
reduction. The auction sales are much dimin-
ished Stocks left on hand are still large. From
Lyons We learn that the large manufacturers
have been obliged to sell their stocks Of silk
goods 1t very low prices. under severe pres
sure, arising from the absence of remittances
from this country, yet is stated that much Of
the goods SO bought is destined for this coun.
try.
In the staple manufactured products Of this
country there Is much frmer tone. The near
BY trade is doing better as regards purchases.-
The chief staple-c0tton-is falling 10 price very
seriously. and must reach much lower value
before manufacturers begin to buy again. The
Northern consumption has fallen OF 10 greater
proportion than the foreign, but this 10 only in
order Of time. The exports Of cotton will
hencefOrward diminish, unless sent forward on
American account. without advances. which is
not likely. There are none willing just now to
advance on cotton receipts. We are glad to
see one or two assumptions Of work of cotton
factories out of the many-very many-that
have stopped.
MONEY MARKET.
The money market shows large excess of
means over demand. with great want Of con.
fdence. The banks do not expand, nor are like
ly to do so while in state Of suspension, though
the suspension of specie payments is hardly .
fact in the city, - it IS easily obtained ON de-
mand. The deposits in bank continue largely
to increase, swelling both the specie and the
State currency 10 bank. The exchanges are rap
idly increasing, but the Clearing House ex-
changes do not show the whole of the exchanges
taking place, a. certified checks pass from hand
to hand with great frequency. The receipts at
Custom are very small. Loans are making at
irregular rstes-mostly at 8 and per cent but
in some cases lower. The receipts Of produce
have been large, but the approaching closing Of
the canals will shortly limit them. Uncurrent
very various kind of business. Those connect
ed chiefly with the produce business are more
favorably placed than the other banks, and can
realize some profits but others complain that
they cannot earn Office expenses, having to carry
such large burden or dead weight of specie,
some of which they bought at premium during
the panic.
We may notice here the fact that there are
four. banks-these four which are not members
of the Clearing House-which have never for
moment suspended specie payments, which they
make to those banks through whom they make
their exchanges. These are the New York Ex-
change, Bulls Head, Dry Dock, and New York
County.
The discount market does not increase in &C.
tivity. Very little il doing. The amount Of new
paper making is but small. Favorite names are
negotiable 1t TO ~ per cent, including dates
up to six months; and single names considered
good are taken At IL to Is per cent. Country
paper is now preferred, and our large private
bankers are buying great deal Of this at ! s per
cent. Tie banks have very little offered to
them; and take readily all that is good, while
they feel obliged to renew much Of the paper
which is maturing, but which cannot be paid by
acceptor or endorser. There 10 large amount
renewed which depends entirely for payment ON
the future activity Of business; and in the mean
while the holders, whether banks or Others,
have to keep il over. There 10 no help for this,
and patience must bear the load, otherwise loss
would enaue. Confidence is mot likely to be re-
stored TO the discount market until after bus.
iness 10 actively resumed ON Q esstled basis. Il
10 mot Jet known whom to trust, or - what ex-
tent. Merchants have an important lesson to
4 within their control, and in depending upon
their well-arranged resources, and not ON the
whims and caprices Of the banks.-N. Y. indie
| pendent.
There seems very little strength Or stability
| 70 the Hog Market. We cut the following from
| the Cincinnati Gazette Of Saturday last:
The market for hogs vas, for the FIRST time
this season, fairly tested to-day, and the result
shows clearly the sensitive nature Of the trade.
On Wednesday prices we're firm At $5,6Oa5, 10
| for hogs averaging over 200 lbs; yesterday sim.
| liar lots sold at &5,55a5,65, and towards the
close holders entertained offers Of $3.50 unfa.
vorably. To-day the offerings were compare
lively large - regards the number Of lots on the
MARKET though in the aggregate the stock Vas
not heavy; but il was discovered that previous
operations had not fairly indicated the number
o. feeling Of buyers, and prices farther recsdsd
% e5 for parcels averaging about 100, and Ss,2e
for averages Of 200 70 22O lbs, and lato this
aftesooon lev packers we're - b fo0ad willing
70 pay these 6gureA In fact, lots could mot
have been forced Of much, II anything. over -
for the highest weights mentioned. The trade
appears 70 be devoid Of stability, packers
regarding the future - uncertain and danger.
Qua Hereeoless The products have beeo taken
70 GU orders O contracts, q prices thas a4oeded
fair pro6t, On the market prices Tor hoga bat