Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-01-27
FINANCIAL 8 COMMERCIAL.
FINANCIAL.
MORNING LEADER OFFICE, I :
TnnuannW Ia. plEk ToeE

n
THURSDAY Jan. 18th, 1855. =
It Is rather difficult matter, Just at present, to
get at the precise condition Of the Money market
here, chiefly from the fact there are only two Of
the Banks that are operating regularly the Others
being in state of semi-trsnsformation or in other
words, on tbs point Of recognizing on the Ma
tionsl basis, and consequently not doing much
in the way of business, outside Of that preliminary
to the change in closing up their old arrangements
&c. Their position in the market is therefore, to
large degree, nominal one, and will grow more
so as they draw nearer the new system and until
they have got to work under it. 1t is generally
reported, however, that currency is close and al
though the Offering Of paper is not large, there is
still good deal that does not find accommodation,
and, on the whole, the Banks would probably
sooner not discount at l, as they cannot do so
under present circumstances without some incon-
venience and chow of favor that is not in the
highest degree satisfactory to the disappointed.
Another embarrassment Is found in the generally
unsettled condition of matters both financial and
commercial, rendering necessary an unusual de-
gree Of prudence and circumspeotlon in business
operations, the whole Tending to g firm restrictive
policy. The only remedy Eeems to be in Govern
ment disbursements, W. ich it WAS expected would
have been made before this but for some reason or
other delay has arisen, and the annoying effects
are being experienced everywhere. The Govern
ment is losing money by this delay as contractors
quartermasters anil others having large back
claims upon the Government, and who are com
PEELED TO borrow heavily to carry their business,
are paying enormous rates of interest, which will
be made up by future contracts. 1t is to be hoped
the delay i'll not be heightened out further than
is absolutely necessary both for the benefit of the
Government ittef and the people at large. Ex-
change is quiet and rates are steady ct 7s9Z of
buying and par selling.
Gold was considerably unsettled to-day in New
York, the demand for cash gold, which is reported
scarce tending to sustain prices, which IL is be-
lieved would have otherwise materially receded.
The fluctuations we're from 2Oi at the opening to
9o551 at the close of the O'clock Board. At Gal
lagher's Exchange this evening the les closed at
2O71z.
Government Stocks ara rather better ahd more
active. but they improve very slowly. The rstss
in this market for 2O's 10715 buying and 100
selling.
In Railway stares the market ruled weaker to-
day for nearly all in the list, and slight decline
is noted, but nothing very market. Stocks do nos
seem to sympatbizO to q great degree with gold,
Tbs Second National Bank to-day paid on Gov
ernment drafts $500, ,OOO and received in subs;rp-
tions to the 7-So Popular Loan $751; 500.
Petrolsum matters are about the only ones that
elicit any particular feeling in business circles
here at present, and constitute the chief topic Of
conversation during business hoars. We are in
formed that one or two new companies are on foot,
tut are conducting their matters in a private way
and are confping themselves to certain prescribed
| circles.
Weinvite attention to the Annual Statements Of
the North American, Charter Oak, Hartford and
Merchants Insurance Companies, publ he'd on
our second page Mr.. John G. Jenuiugs the
Agent of theEo Companies in this city.