Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1865-10-26
FINANCIAL & COMMERCIAL.
WEpyEsDAY EVENING, Oct. Is, 1865.

WEDNESDAY EVENING Oct. 70, 1909.
The money market to-day was rather
more active in the demand for accommoda-
tions, there being in addition to local wants
a considerable offering of paper from inte-
rior produce and wool holders who could not
be supplied by their local banks. Such pa
per, when specially recommended by the
home bank, found acceptance, but otherwise
not. Pretty heavy checking by depositors
was also reported, with a decided effect upon
balances. The banks are pursuing the pol
icy of contraction in their discount line as
far as may be with a proper regard for the
interests of the business community, and
will probably continue this course so long as
general trade is in its present unsettled con-
closeness for currency.
The balance of trade is again largely in
favor of the seaboard, and throughout the
Vast there is complaint of stringency in
Eastern exchange. Chicago bankers find it
necessary to remit currency to meet their
drafts. In Cincinnati the demand is in ex-'
cess of the offerings. The market here is
very closu, with an active demand. Rates
are frmer at par buying and / premium
selling.
In Chicago currency is reported a shade
easier for legitimate purposes, but specula-
tors get no countenance and are being forced
| to close up their accounts. Advances on
produce, unless for shipment, are very diff
cult to obtain, and this is especially the
| case with grain paper, owing to the an
! nouncement of proprietors of elevators that
the grain in store is heating.
The Cincinnati Gazette says: "The sup
ply of currency is gradually increasing, and
bankers are growing comfortable in this line,
but their policy in regard to discounts is
still a conservative one, consequently Dor
rowers continue to find the market close and
rates are fully maintained"
The disbursements of the Sub-Treasury
on the November $40 interest for the past
day or two have greatly eased the market
for cash gold, and a decline of about per
cent. in the premium occurred to-day, the
price closing at I454@145s.
Government bonds are all steady, having
experienced no %perceptible effect from the
last foreign advices, which appear to be re-
garded as less unfavorable than expected.
The Cincinnati Gazette says proprietors Of
elevators in that city receive grain only on
condition that it be removed upon notice
Some difficulty experienced from heating
has prompted this measure.
Local commercial circles continue dull
The movement of Flour, as indicated by the
report of shipments, is very light, but price:
are well maintained, there being no accu.
mutation of supply of consequence. Wheat
is heavy and mainly nominal, though hold,
ers manifest no disposition to make conces,
sions for the sake of selling. Corn is in fail
demand, and prices to-day were lower, but
irregular. Oats are in moderate request and
steady.
Provisions are without change, but rather
quiet. Produce is steady, firm, and rather
more active.
Highwines are irmer and advancing, the
price to-day closing at $3.50. Alcohol an(
Spirits are also higher.
Petroleum continues dull and rather weak
but we note no change in prices to-day. Oul
advices from Pittsburgh tonight are more
favorable than for some time past, indieat