Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-03-16
.FINIECIAL Z COMMBRCTAL
FINANCIAL.
MoRNINc LEADER OFFICE,

mOHNlNG UHADEh UEELOHg
WEDNESDAY KvEEIse, March Is, 1885.
There Is noshlBg essentially Hsw to note in con-
nection with the homs money market. Currency
Is comic tabIy easy with all thu Banks, and under
the continued light demand from borrowers, which
is 50 small as hardly to be called demand, the
supply is Increasing from the r-guIar sources Of
deposit 9hs disposition Of Bankers und.r pres-
snt circumstances, IN common v ith all classes Of
business men, Of coarse to con ract their obga-
tions 10 ths narrovest practicable limit, and the
quiet in monstaTy and mercantile circles here is
entirely mutual. Grsenbaeks are every day be-
coming better property to the merchant than pro-
duos, Of whatever kind, for the former are sppre-
ciatiug As steadily and In the Iane ratio IS the
latter declines, and the banker s IL possible more
sensitive to this fact than the merchant; hence
while the latter refuses new engagements, the for
mer is none the less rsticeGt in loaniDg where
there do,s not exist the most undonbted safety
Such Is now the controlling characteristics Of all
the leading markets, ard It Is unquestionably the
true policy. There sre those, 1t Is true, who ar.
que themselves into the beisf that the re,ent state
Ct things is bat the result Of panieEy public feel
ing that must inevitably reset with redoub'sd
Sorcs but such men sre either blind to the philos-
ophy Of events, or wiIfully cbnoziOus to the i'm
provement that Is bel z daily wrought BY the pr,
gress Of the events they shudder at Such men
sadly In error when they view the present from
= standpoint in the pas. Mott vital changes,
po7ular, po'itiealard military have been worked
out in the past six months, and the certainty Of
victory for the nation il % fixed a. are the laws
Of the universe and every thinking man ices It as
clerly IS he can the sun a. MONDAY The popular
heart, too, beats hopeful and confident, and gives
full and free expression to its convictions By
ing millions daily into the National Treasury In
support OF the Government. Europe, watching
the onward tide of events, and alive TO the future
prosperity that awaits US, is a hungry purchaser
Of our sseuritIss, which her people are boarding
with religious care. and not least in this great
march Of progress is tbs new political status the
nation has assumed, opening up to free, unr,-
strained industry hundreds Of ohsnnes before uu-
tired, Tnd through which will pour, ere genera
ton has passed away, wealth that cannot now be
estimated. Such, we eandidy think, Is the true
position Of the nation to-day.
Exchange is quie., aud the rates contlnne steady
st e discount buying and IAr selling.
Gold was very much unssttied in New York 10.
day, and fuotDa.ed wildly, ths lowest poiut n aeh-
ed during the morniog an afternoon Boards beIrg
ia, from which it rallied to ITS, ciofiug at I74
Cur dispatches tonight report a very consid-
erabls panic in New York to-day, with general de.
preston and uneasiEess in financial &, d CONNER
cial ciIees. All kinds Of merch sndiss ara matsrl-
/ ally lower. Heavy failures are reported both in
New York aud Philadelphia. in the form er city
eight or ten gold-s ambi1g firms ard two heavy
butter-sPeculatlng houses havetuooumbsd. OF the
gold spsrators ThOs. F. Warner, Csnszi 4 Cay
mari and j. =. Merism are mentioned. The storm
is rap diy gathering, snd mary Others will room
| follow.
Stocks were weak and lower at the morn 'nE
Board. but Improved slightly In the afternoon,
with more st ensth. 1hSiollowing were reported
to the Stock Exchange in this city: u S $50 cou-
POnS, old lO915 OHIO Mississippi Certificates q,
Cumberland eS56, Msriposa 1411<, Erie e45<, Read
ing lU7, Chicago Northwestern 31s<, Cleveland 4
| Pittsburgh \, Chicago Book Island 90, Fort
Wayne s71S, Michigan Southern 65.
The sales st the second National Bank to-dsy o.
/ 1905 Wero S54, 600