Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-11-16
| FINANCIAL & COMMERCIAL.
WEDNESDAY, EvEs1se, Nov. IS. 1ss5.

The local moneymarket presented no par
ticularly new feature to-day. There was a
pretty free offering of paper for discount,
mostly from parties whose necessities were
of an urgent character, and which the banks
felt some degree of obligation to accommo-
date consequently the bulk of the offerings
were met. There is still remarked, however,
a disposition to avoid, rather than invite,
borrowers, for though bankers feel and are
somewhat stronger in their currency bal
ances, the future is still uncertain, while
safety is unquestionably upon the side of
contraction. The question with bankers at
present is not how they can dispose of their
means, but how they can keep them and at
the same time do justice to the wants of le-
Ultimate trade.
Eastern Exchange was in more demand
to-day, and worked closer. Rates are very
firm at par buying and I premium selling.
In Cincinnati the demand for money is
fully up to the supply, though not heavy
Bankers continue to work with great eau
ton. Rates of interest IO@15 per cent.
In Chicago the regular discount houses
are accommodating only their best custom
ers, and the market is every day working
closer, though contraction is the rule with
lenders. Private bankers "do" second and
third class paper at 1920 per cent. per an
mum.
The foreign advices received by the Per
STA to-day are in all financial and CONNER
cial respects favorable. The dates are to
November 4th, when fve-twenties closed at
$50 664 an advance of 24 per cent. over
the last advices. The demand for discounts
at the Bank of England is also reported
light, and advances offered at 81 per cent
Commercially, the markets were quiet, but
breadstuffs were firm at an advance, with a
strong upward tendency. Provisions are
not so favorably reported upon, but the stock
~ -a-bst is- I;sh. e-I af inferior quality
Government securities in New York con-
tinue dull, though ruling a shade frmer to-
day. A reaction based upon the foreign ad-
vices is probable, as parties who have been
pressing sales will be induced to withdraw.
Gold receded a fraction to-day, the price
closing at 147.
The following resolutions were passed by
the Chicago Board of Trade on Saturday eve
ming last:
Whereas, 1t is the opinion of this Board
that the general Generalization of our over
healthy trade, and the enormous prices now
existing throughout the country for all Of
the necessities Of life, is, to a great extent,
| Quinn 70 tho 1arpa amount of irradaamob1a
paper money afoat; therefore,
Resolved, That this body most heartily
approves of the policy of Secretary McCul-
lOch in regard TO the gradual withdrawal
from circulation of the same, as set forth in
his late speech at Fort Wayne.
The First National Bank of this city has
declared a %semi-annual dividend of ; per
cent on a capital of $500, 900, reserving a
surplus of 5 Por cent. The National City
has divided 6 per cent. on a capital of $780,
900, retaining a liberal surplus. The show
ing of both is highly satisfactory.
Local commercial circles continue with
out much animation, and prices do not I'M
dergo particular change. The demand for
Flour is on a very moderate scale, but prices
continue at the figures prevailing for the
past month. Wheat is dull, but prices are
steady. with a good degree of firmness on
choice grades. Corn is frmor, but dull
Oats were somewhat unsettled to-day, and
sold at a decline, though holders generally
demanded previous figures. Nothing of mo-
ment doing in Rye or Barley.
Provisions are in fair inquiry, unchanged
and firm. Limited quantities of dressed
hogs are coming forward, and packers pur-
chased selected heavy to-day at 14@144c.
Light weights are neglected, and would not
realize over 12@12!c. There. is very little
packing being done, the weather being rath-
er unfavorable.
Butter is quiet and steady. Cheese firm
and active. Eggs are very scarce.
The Grocery market is steady and gener-
ally without change. A shade lower figures
are made on refined sugars.
Petroleum is very quiet refners reporting
no inquiry beyond trade lots. Prices how
ever are
Highwines are very scarce. Green APP
pies are dull and dropping. A decline is re-
ported on loose hay and an advance on
pressed. Potatoes are in good demand and
firm.
The receipts and shipments at this point
of Produce and Merchandise, during the
~twenty-four hours ending at Z o'clock this