The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-05-13
9 COMMERCIAL.
FINANCIAL,
MORNING LEADER oFEIOI,


FsIDAY EVEAIEG, May Il 1855.
Gold opened stror 10 New York this morning,
aud under the inufnee Of the re-setiOusFY feeling
insusnrs ted Jesturday, advanced at the morning
Board, touching the xtrsme at 1885 There seems
to have been, however, no esentisI ,trer q in the
moyemsnt for rise, and in tn aft rnoon tue mar
ket gave way, rec dug 70 ls5z. There is Svi.
denty strong feeling in financial circles that low
'r figures must be Tesched on Id. snd holders Of
os'h go partske largely OF this visw and are dis.
posed to sell freely be'ore the turn OF exchange,
almost certain to result from the produce exports
ih,t wilt soon begin on an enlarged SCALE and the
increased demand for Governments securities from
Europe, thsll compel them to accept snll lower
prices And there is cert,iuIy n aoh good reason
foe his faith 10 a lower gold premium, based upon
tho probabilities we have named. The steamer
tbat calls for Edrope tomorrow viii convey to the
Of foreign oApitslsts, in the intelligence that
the gr at popular loan is being taken Ut the rate
Of fftseu millions day. the most powerful and SAL
utary argument that could be made in behalf Uf
the god securities Of tn Government because the
highe't possible assurance Of the unlimited oond-
druoe Of our people in the credit o the Government
The effect Of this news will undOu btediy sive a
strOUg imp tus to American bonds In every or
large anCunts seeking investors there already, IN
addition to which large shipm, nts, sta'ed at ON
twenty i've to fifty millions, hsvs been recently
made in SnticI aiiOn OF the demand. Fhs fleets
on exchange rom this source clone, VIII u We con-
slider the prudence b,iug observed iu import, and
which is hksly to be observed fJr some time to
come because Of he uDc Itainty As to valuts,
would til heavily upon gold aud If IN addition to
dlmestic products st prohtabe rates, and By the
early re-oPenins of trade with the South shall be
able to enlarge the shipments of cotton, tobacco,
PITCH tar, rosin, 40 there be no question that
gold would be forced to yield spite of all speeul.
tive efforts to the contrary, to the reversal Of siu-
alton produced by these circumstances. The ques-
tion OF the future value Of gold undoubtedly de-
peDds now upon our financial relations abroad,
and the prospects are most hatserirg that these
will be in the highest degree favorable.
Financial matters in this city are q1ist. There
is very little movement in dis cunts, and currency
balances chiefly sf cted by the subscriptions to
the seven-thirty loan and the demands frou tbs
Treasury. Exchange is in pretty free supply and
without NAKED demsnd. Il .tss are steady at par
brying snd lilo TO Is premium selling. The Sec
Ond National Bank To-day pSii Government drafts
TO the amt unit Of s70OtOO.
The telegraph to night reports hut thirty five
millions remaining of the present series Of Seven
thIrti,s THIS amount VIII undoubtedly be sub
sorbed by Tuesday nigst of next week, thus dis
posing of the ries OF three hundred millions in
period OF about forty wO king dsys, sRd q mon h
anerior to tn, da'e at which inere,t upon it will
commence, June 10th. The same dispatch say it
isIrob. bic the remaining two hundred and thirty
millions under the 30 at will be issued as the
| third stri,s, bearing date October Is.