The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-08-04

The foregoing 6gurcs present very strong and healthy
condition of our great moneyed institutions Tho in
in the loan column not expected certainly not
tho extent of nearly million, and the increase in ccu
ltion shows great activity In the demand for money
than generally supposed There large decrease
in tho undrwn dcpositcs in the statement Of July oath,
This occlsioncd to great extent by the payment
of dividends and now, by tho increase Of this week it
appears that the money thus drawn out has found Its
way back to the banks. as predicted at the tire
Having determined TO devote my letter Of Monday
clusively to matters financial commercial and Industrial
and to Stocks which, though not properly belonging
to any Of tho three genera before mentioned,
yet partake Of tho character Of each / made more
minute inquiry than I can ordinarily make with
regard to business In general Although / cannot
find any change in the aspect Of the money market,
in tho vast abundance of tho supply, the slackness
Of the demand end the cheap rates at which short pa
per of prime quality be discounted, find gene
raj impression that trade is gradually rcvying and that
there is every prospect that tho fall business will be very
active and very sound Wholesale merchants who used
to deal with the retailers In the West, who have been
much puzzled to know whom to trust after the late
revulsion, and frequently have refused to do any
business rather than run great risks, now in great
degree sell the bulk OF tho goods, which they used
to sell to several individuals in city TO in
that city of whose solvency they poi fecty assured
and this middle sells to tho smaller dealers, In
whose soundncss he has confidence. Already, in
formed large sales have taken place In this quiet way
and our wharves and principal commercial thoroughfarcs
begin to present bustling active appearance which il
very cheering compared with the sa2nation which has
existed long The published lists of the mportaon
from abroad at this port show worry sudden increase Of
activity in this branch of trade and vessels daily
irving from foreign ports with full ca,goes of rich and
valuable products Of other countries, the duties
which will make largo and welcome addition to the
national These large mportaons, too, not
to be doomed excessive, or Indicative of return to
extravaganza During the depression consequent the
rcv,lsion Of lust fall the mporatons fell below the
Irest wants of the people and to replace the exhaust
ed stocks aud supply thelegitimate demand Of the
try the rapid and large arrivals from abroad which
now taking place arc absolutely needed There Is no
immediate to dread immediate return to the
extravaganza and er-uding which series of years
of prosperity fatally encouraged The experiences Of
last year were too bitter to be c,sily forgotten
With the revival Of trade there will BIO necessary
turn Of activity in the demand for money Our banks
in very strong position to meet this demand and Seem
very we'll disposed to be liberal whore they can
and ought to be go Rates Of discount will necessarily
advance considerably from their present low gure but,
unless present appearances prove worry deceptive and
something unforeseen turns up. tho price Of money will
not surpass tho legal ratio Of interest On tho whole
with peace home and abroad prospect of abundant
crops throughout the Union healthy and rcmnerativc
trade revying, and tho additional impetus to ship
ping interests Which tho Fraser river excitement has
given our future prospects arc very cheering.
The business at tho stock board this morning light
and prices of railroad shares generally declined with tho
exception of Reading and Panama. The former closed
ut 50s against 50S Saturday. and tho latter closed at
ia against 1124 Saturday Pacific Mail fell off Al
per cent CLOSING at So Considerable dissatisfaction
Is expressed by the stockholders at the retention of
largo surplus by tho directors and there il
current that II the directors persist In their proposed
mode Of management without calling meeting Of the
stockhollers the latter will take decided steps them
selves There very little business done IN western
bonds State stocks firm ut unchanged prices and
railroad bonds were dull Tho following table will show
tho closing prices at the first board each day during
tho present week, including this morning