Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1860-12-12


rccoil Of from u to l per cent, in other
Stocks from the closing prices of the Board.
A irmer tone succeeded, and the afternoon
session opened with a steadier and more
cheerful feeling, which continued through
the rest of the day. 9t ~.
New York Central was especially firm, and
the bidding for most Of the prominent shares
indicated a better disposition to take the
chances of rise, than we have witnessed
before during the week. The, orders are
mainly for Cash, and although numerous
time-bids are made the reluctance to make
new credit engagements renders it difficult
TO operate in this way. State Stocks close
steady, with sales of $4,000 Tennessees at
the Second Board at &c. The supply of these
and Missouris has been increased by the Cur
rency troubles Of the West, and does not
originate from any distrust ofprompt coupon
payment by these prosperous and loyal
States. The large issues of Missouri and
Tennessee have been absorbed to an unusual
extent at the West within the last six months,
as a Banking basis in the expansion of the
Currency, while large crop movement, and
a revival of general business has stimulated.
The extraordinary turn which matters have
taken in the political agitation, forces con-
traction of the Currency, while at the same
time decline in the market value Of the
Bonds, and the enforcement of Western
Banking laws compels asacrifce ofsecurities.
In the present state of the Exchange mar
ket at the West, however, the losses are di-
minished from to per cent, by using the
proceeds TO meet demands in that section of
the country. The sentiment in Wall-street
is not very hopeful in regard to the revo-
lutionary movement of the South, although
faint symptoms of a more cheerful feeling
were manifested to-day; but people are be-
ginning to calculate upon the prospects and
value of property under the worst aspects
which the question may develop. There is
an abundance of Money for investment in
whatever can obtain confidence; and the
peculiar business advantages of railways
their necessity for public convenience under
any crcumstances-is not without its weight
in the minds Of men who seek for the safest
employment of Money. After the Second
Board the market was very firm, and the
tendency at late hour was to better prices.
Mondays New York Herald remarks re-
specting Money matters:
| The Money Market is about as it was a
week ago. On CALL the Brokers are freely
| supplied at per cent. But there is no mar
ket for Paper. The best gilt-edge sells, now
| and then, at II, l5@l9 per cent; but one
must look q long time even to find buyer
at these rates. There is reason to believe
that the stagnation in the Discount Market
| is only temporary. People who have Money
| want TO see the effect of our crisis on En-
gland before they part with it. They want
also to see some daylight at Washington.
Civil war would, of course put an end to
commerce altogether, and would break a
large number of firms now considered I'M
doubtedly solvent.
This contingency must be out Of the ques-
| ton before there will be any active demand
| for Paper. If the politicians at Washington
| succeeded in arranging compromise by
| which the eventuality of civil war was rem
dered impossible, it is probable that the
secession of one or more Of the Cotton States
would not impede general recovery in our
markets. Money is very plentiful here, and
| people will tire, ere long, of allowing it to
be idle without earning any interest.
| Foreign Exchange closed, yesterday, at 0
decline from the price which had ruled fol
| the Cunard steamer of Wednesday. The
closing prices were about l03@% fo
Bankers Bills, and l000l0l for mercantile
Exchange. The decline is due to the yer,
light demand for Bills from the importers
Importing-bouses are in no hurry to trans
nit at the present time. They owe very lit
tie, as rule, to the other side; and, until
settlement be effected at Washington, the,
generally think their money safest in thei
own hands. Ifpolitical matters could be ar
ranged we should probably witness livel,
| advance IN Forelgn Bllls, as the supply iron
the South is greatly reduced.
As to Saturdays Hog and Cattle marke
in Chicago, yesterdays Times informs us;
The receipts of Hogs to-day were 20
dressed and 2,450 live, or a total of 2,74E
against 4,5l5 on the corresponding day i
1859. The market was dull, and at the clos
live Hogs were l0@l5c. per 100 pound
lower; the closing rates were $4@4 371z fc
| H, hnarvrr 1nf- far ahnfn 1nt
close 81 371S were the outside prices. Th
following are the receipts of Hogs and Cattl
since October l, and for the correspondent
Ieriod in 1859:
1860. 1S5.