Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-11-01
FINANCIAL 6. %COMMERCIAI.
TUESDAY Errrra. oet. a1- 1se

TUESDAY EVENING, Oct. 81, 1865.
The money market is without especial
change. The demand for loans is quitelib-
eral, but the check held upon discounts by
the banks allows no material interference
with balances from this source, very little
paper being done for any class of borrowers.
On the side of deposits, however, balances
are kept low, and the market continues
close for currency. -
The demand for Eastern Exchange was
brisk to-day, and with a light supply and
small offerings, the market worked frmer.
Some of the banks shipped eurrency.Rates
are'irm at par buyidg and ! premium SELL
ing. siaoH Lfl c34s.a .fii1
380 Of the feeling of bankers in New York
the Herald says; ..Tad >3.iaS
The general opinion of bank officers ia
vors a more easy condition of the money
market, in consequence of the subsistence of
the Western drain and a diminution of thai
southwark. The drain eastward, which has
been considerable, has also abated, because
the banks in that direction, alike with all
the others keeping balances in New York,
have drawn the latter 50 closely that there
is little more left to be drawn. In addition
to these causes, the wize decision of the Sec
rotary Of the Treasury, in view of the recent.
st~ringency, to order that no more currency
be funded into bonds pending the meeting
of Congress, is ~reassuring.
The foreign financial news received to-
day is unfavorable to American securities,
a considerable decline being reported in
Five-twenties. The news was followed by
a general decline on bonds in New York, the
market ruling dull. The same influence,
coupled with the adverse advices in refer
ence to cotton, and the u%npromising condi-
ton. of commercial commodities generally,
effected a slight advance in Gold, the price
closing at 1465. There seems to be no more
animation in the European markets at pres
emf than in our owl, and money matters are
in quite as unsettled a condition. The high
rate Of discount maintained by the Bank of
England has put a pretty efeetual curb
upon speculation, particularly in cotton
| Should this state of things long continue,
it cannot but affect exchanges to our disad-
vantage, especially as the larger half OF our
export trade at present is in cotton. From
| All DEc5CHL llUlCdtlOu5, OuI merchants q =
no very lattering prospects for the winters
business, and what with our domestic mon
ey complications and the absence of a mar
ket for our commodities it is not unreason-
able to look for p%erilous times, affecting Sc
verely all classes Of interests.
Local commercial circles continue quiet.
The want of money, however, is beginning
to pinch both here and in the interior, and
orders are coming forward from consignors
to sell, and the offerings of property are on
the increase. This scarcity of money, how
ever, weighs equally heavy upon buyers,
and hence sellers are met to a very limited
extent. To-day the volume of business was
light, and prices generally are without de-
cided change. Flour is quiet and unchanged.
Wheat is dull. New No. 2 red declined SC
to-day, closing heavy and dropping; the
supply in market is large. Choice grades
are in only moderate supply, and prices are
well maintained. Corn is quiet and steady.
Oats are in only moderate demand, closing
less firm, though quotably unchanged. Rye
and Barley are inactive.
Provisions are rather dull, but without
change in price. Produce is steady, with a
fair inquiry for Bntter and an active de
mand for Cheese.
Highwines are firm, though very quiet
The stock in market is very light.
There was an active movement in Petro-
leum to-day, and the market ruled frmer,
though unsettled. The belief is gaining that
refined will not go lower, and this, with the
probability that speculative stocks bought
early in the season are about exhausted, is
doubtless the reason of the renewed de-
mand.
A further advance of &c on Potatoes is
reported the demand is active.
The receipts and shipments at this point
of Produce and Merchandise, during the
twenty-four hours ending at Z o'clock this
morning. were as folIows