The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-16
FINANCIAL AND GAL.
SUNDAY. Jan. L.. |!

SUNDAY, Jan. Is, 1860.
The feature of the past week was the continued
striDgency in the money market caused by the &C.
crmuation of nearly eight millions of money in the
Snb-TreasIry at time when, If Congress was or,
gained y that institution could not contain four
That strngency has been more severely felt among
the brokers than the merchants; but all classes
have experienced i. to some degree. 1t will con-
tinue to he felt until the passage of the Post Office
Appropriation bin libcrates onehaii of the present
Sub Treasury balance.
The cotton movement, though declining, is still
considerably in excess Of previous years. The re-
ceipts Of the last cotton week were 163 600 bales
against 100000 bales same week of 1859, aad
81 Geo same week Of 1858; so that the total crop
receipt is now 230S 900 bales, against 1871 900 to
same date 1859, and JAS 900 to same date 1853.
The exports last week were very heavy-ll7 900
bales, against $1,000 same week last year, and
$1,000 same week of 1858. The price is well main
tanned Really good cotton, Of the desirable grades,
and free from sand, is quite scarce. We hear OF
several foreign orders which cannot be filed in the
Southern cities Complaints of sauded ceston are
as frequent as usual This year an unusual guam
tity Of cotton appears to be open to this COM
plaint--ihe picking in many places having been too
close and careless.
The grain and -four market has been moderately
active; prices showed o tendency to rise, bat the
suingency in the money market obliged some
holders to realise, and the advance was lost Most
descriptions are worth about what they were a
week since. The export demand continues mode
rate; in the absence Of an advance on the other
side, it is barely possible to ship at present prices
here and to realise profit Many OF the leading
houses in the trade have been bitterly disappointed
by the course Of the European markets. Cora con.
tinues scarce and is quoted q cents higher than
last week.
Pork is sustained both in the West and here, not.
withsapding heavy receipts. The dealers affect to
believe that the crop is short, and by their firm.
ness check business. decline in prices will be
inevitable unless undeniable evidence of q short
crop be shortly produced. Beef continues dull,
with downward tendency.
Foreign produce is more active. There was q
sale Of teas on Thursday which resulted very salts
factoriy to the owners, two-thrds of the amount
oEereo having been sold. Sugars are very firm;
the smaness OF the New Orleans crop is now as
cerfsined, and that description ia Quoted higher.
Coffee is not quite so strong as Il was las.
week, some holders having been ipdaced "a
sell for TIE sake Of Obtaining money. Hides
are arriving Freely, and there has been a |
flight variation in the market which closes easier
The stock on hand is heavy, though less ,han va,
held here in January, 1858. Molssses is rather |
easier; we hear Of some that is being sent from |
here TO St. Louis-an almos: unprecedented cccur. |
renee. Spices are auiet: the failure Of Mr.. Story
Produced no effect on the market Woods are quiet: |
Ne great auction sales 3. Boston were veil attend
d, Snd prices are SAID TO have been satisfactory.
The dry goods trade opens promisiagly. Though |
he viii no: fs'iriy begin ill next month, we
office already quite lumber Of Southern buyers
{ town, who speak conf, 7enty Of large business
his summer, especially fro.u the cotton districts
here every one is rich 1t seems tia. the stocks