Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-03-13
FINANCIAL & COMMERCIAL.
FINANCIAL.
MORNING LEADER OFFICE,

EAIUBDAI EFAhlhdf MAICu IL 100.
The Money market during the week bss ruled
close for raney but for tt past two daJ sthere
has been little improvement in the supply, snd
consequently sn eaiisr feeling. qhs state Of bust
ness generally continues favorable to Banks while
In this condition, Il 9 demand for discounts being
on very limited scale, ESPECIALLY from sources
where auy obligation to lend exlsts, and the mar
kst is sufficiently well oT 80 meet all such wants.
The cause that IS eontrit hting more largely than
anything else to the tIghtness of the currency iI
the immense smount thst is being absorbed in the
T-sO Loan amounting to four millions per day, and
which Is ltuI The mcst attractive object Of Invest
msnt BY all classes. The purpose o, Mr.. HoCul-
10th, however, to pay promptly the demands
against the Government, which the Treasury must
now be very nearly, if not quite, il situation to
do, will IN very short period return this currency
to the people and ths channels of trade, and BY the
time the iprng business eommsn-ss there will ts
no want Of money to carry It forward. Exehangs
has Iued steady throughout the we K ct q dis
count buyins aud par selling. the supply b.iog
relatively better than that Of currency.
The wek K has been more exciting in God and
Stick movements than ct any previous period for
months and during the past thrse days the feeling
character, though growing mere settlsd and IT.
tie stronger to cay, under the inhuenos ofIumoTS
more favorable to the esuss Of thu rebels, hieh
always have thsir due weight wi the gOI gem
blsis. During the early psrs Of the week the sue
cession Of favorable military siVlces the sddrets Of
Mr. McCull, ch, in Whish he gave sssuranoes TO the
country of his determination to use all the power
in his hands to reduce tn currency and bling down
/ l. A.. =
geld for Lhipment, tie c7ntinusd large iaqai for
Government gold bolds for the European market,
and the srrvas Of large cargoes of cotton, repIe.
Ssnting i've or SIX millions IN gold, with larger
amounts still to come tending to deprsss exehAug,
and placing 50 much more gold within rssch Of tbs
Government as soon as thy can be carried to Eu.
peAn msrksts-aIl these were the Co bination Of
cauIes-most Of which stin remain i full force
that Influenced reduction of the gold premium
and created large "bear' faction. But the gre A
power TO which god il most sensitive, 1. uuquss
tionably the military and the success 5 that have
followed the movements Of our armies for somt
time past, haye contributed most largely 10 bTins
down the premium. The large t decline Of tht
week was real Esd yesterday, the market reoed
ing per cent. from the day previous, but tbs
wants Of largo 'sshort' interest that hsd beer
created during the week, aided by adverse mil
tary rumors, created rally, and tbs msrkst re
covered the decliee ard rallied an advance Of
Per cont. This morning tha market opsrod le.
buoysnt, end again fell back, but this af. ernool
reports Of disaster to shermsn, for which ther,
was not the slightest pTstext. sent tho nrioe rap
Ffdy upward, the limit being reached al 1857 from
which it subsequently recedsd I'D closed at 1903
-sbout FER cent. lower than on last saturday
In Government Cold Stocks, the market durini
the week has been firm, and an advance was es
tAblished over the closing rates of Isst week TO
the 5-2O's, the old issue of which continue Ia,
favor:tes for the Europssn msrEe's. At the clos
to-day the market is reported strong fer all kinds
The BsilSsy List, partly 10 sympathy with gold
and Iartly due to pressure on the part of holder
who ne sdsd TO realize TO sell, has bsen ", ak AM
declining up to to-day, when a stronger fseliul
prevailed, snd with four exceptions in the list re
| ported, the market elos5d hrmsr and better thar
yesterday. These exceptions are Rock Islaed, Chi
csgo Northwestern, Cumberland Coal and Can
ton. A decline Of 1s1{ + ON yesterday is Fsporte
In the N. W. The entire list, however, is still
largely loEsr than ct tbs close on F iday Of las
wees, as the following comparative figures vii
show: