The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-05-28


Dry goods. s553oI2 l,se3Ss3 s72.s24
General merchandise. l,sa2aA s,lai,'Sa 2,ae5,sla
Total for the week. .sl,is544S 7Ie5,n5 ssia797
Previously reported. .i6'as2'tss a,i9sS7i s2os74ss
Since January J. .sis ,lsl iOi ,aiS Sa 90 sso225
EFFORTS EXCLUSIVE or erEoR.
For The week. $50 ss l,SSs,sis l,5si,i,s
Previously reported. .g2iiocso 2S,55?2O3 ssi los
Stree January h. sas, AS 2s,0l5. $40 s2,.a, 222
s4roRm srGoE
1853. 1894 1900
Fer the wesk...... $500 800 5,l.0Sis l.3i7,773
Tisvouay reported 1921 Aso SS5tg,n5 lo,9s9,7so
Since January I sl2,tsO,70a 2s.s75,1ss i2,!T7,s0s
The week which ended yesterday witnessed
very fair business in both cotton ana breadstuns'
The late advices from England have feen SO favor
able for the former that notwithstaDd pg the gene
raj apprehension on this side Of decline at Liver
pool, some operators recovered courage last week
ard we're buyers at full prices. The market closed
yesterday quite steady. Tho receipts up to the
closing OF the last cotton circulars footed up 1905
Geo. bales against $50 900 10 same date last year,
and SEE 900 TO same date in 1855. II we receive
a couple Of hundred bales between this and LIST
Septembcr-a moderate ostimate---the four and
half million point viii be passed. From
the South the reports favorable for the growing
crop. In some localities there have been CON-
plants Of a want Of rain, but these have been fol
lowed by announcements OF eopious showers; so
that thus far there is no ground for apprehension
II is, Of course too TO begin 10 form estimates
Droaostuls were active last week, especially grain
OF al kinds. Though the recent adsces from eng
land have been more favorable for the growing
crops, and consequently less favorable for prices
there is g conviction IN many minds here that Great
Britain cannot dispense with large supply Of &c.
real food from u this summer. Hence we note
shipments Of both corn and wheat 10 England
and Scotland, in the face Of an apparent
loss TO the shipper. II the British harvest
last year were as short "a they were repre-
tented 10 be- the fact ought TO tell upon the mar
kets within thirty days. The movement of bread.
stgis 10 the West continues very active, and IL is
clear that we shall have no scarcity this spring.
Corn especially comes in from Southern Illinois Ia
enormous quantities. Tie prospects of the grow.
ing crop OF wheat and corn arc very good In Mich
gan, Iowa, Wisconsin and Northern Illinois; Ia the
valley of The Mississippi we hear complaints OF
drouth. It's, however, too soon 10 form opinions
Of the harvest
The movement OF specie last week was against
the banks, though not TO any grea. extent On
Wednesday there as shipment Of $40 $40, and
yesterday over a million OF this latter no xever,
the banks had the benefit for Eve Of the six days
in their averages and its loss will not be fel. tn
next week. Besides this, the Sab. Treasury hss
taken money from the banks. Tie balance last
evening stood at G,9s2 eco, against s3,s6llls at
the close Of last week, and q ,752,0si at the cor
responding date last year. On the other hand, the
banks received money from Philadelphia and Bal
tinore; so that were II not for the shipment Of
Saturday, May 10, 10 great change in the
specie average would probably be shown 70
morrow. Northern bills are rising at New
Orleans, and we are rapidly approaching the pc
Rod at which regular supply Of coin may he ex
pec'ed from the South. The Northern Light, from
Aspinvall, arrived last evening, with sl5io,7o9 IN
specie on freight. The last specie average shown
by our banks was s2s 7S5 lo3 against $40 $50 IS.
on the previous Monday, and s2i,3l9,s22 at the
corresponding date last year.
The recent course OF the banks in regard TO
loans has been 50 unexpected that Il Is unsafe to
adventure any predictions as to their statement
TOMORROW IN this respect Asa general rule, the
course Of tho money market affords pretty fair
indication Of what the banks are doing; bu. for tho
past few weeks II has misled everyone xAo has
relied upon Il. Though money has grown cheaper
from week TO week aud paper scarcer, the banks
have for more than month pursued policy OF
steady contraction, with Arising movement OF spe-
Gle. The loans have declined from $3.50 COS ,15l ON
April 7, TO 1921 9ss,3 $50 last week-a contraction
Of nearly ak millions in the face OF declining in
quiry for money and an Increasing supply OF coin.
This decline Ia the bank discounts is doubtless In
part involuntary. Business IL comparatively quiet;
merchants ase trading within their means. and
borrowing less there IL less paper to discount.
At the the same time, Il is possible that some
Of the hanks foresec that their peril, like their
profits. must be looked for in The hour of general
prosperity. aud are anticipating the prosperous
times which are AZ hand, by timely contraction.
The following table will show that notvithstana-
ing the recent contraction, our banks are as much
expanded rs usual at this season.
BosK rxrsvuov, MAJ IS.
1871
.s9s llovnyW