The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-05-18
FINANCIAL { GOalMBRCIIL.
FINANCIAL.
MORNING LEADER OFFIOB,

WsDsEsDAY EVENms, May IT, 1855.
The stsgnAton ruli' in commercial circles All
over the couutry, adied to the indeants situation
in which hnaneIa matters are held In consequences
Of the Ia e balances Of ourrsRey in faVsr Of the
Government and subject 70 immsdisie transfer from
the Banks 70 the FTsss0ry, cohduoss 70 unusual
dallnoss 10 all tbs money markets, snd diserimi-
nation on the part Of Bankers which wsH hardy
90 have been expected in view Of The increased
supply and late rapid appreciation Of the eurrn
We some time ago pOinied out the iopossibility Of
any considerable actiyitJ in money matters or in
busInsss Of any hind Ion - tn prices Of CON-
modities maintain the rsla i've sitiOns they now
DO betwseu the ssaboszd and tho West snd the
reason must be obvious T. all there is ses'esly
An article in toe whole Hne Of produce In the West
that can at this tns be Ahigp-d the last except
At mAtsriAl loss from the prices held BY Western
dealers, and consequences there is very litils Of
anything being sent forward, and th,se who are
shipping csunot re-invest without sustaining
very consd. rabls sacrifice, and Of course nOtdo
50. Again. New York operstors sre unable to Pur-
CHASE ss export prices will not allow them ev 70
rep ace III ir investments to say nothing Of profit
snd therefore they arc entirely out Of the Western
markets. and a-s depending upon the eOnsign-
meDts Of those who must realize, or are sstished
to de at the prices va rsnted BY the position OF
the markets, for the supplies Necessary to meet
toe wants Of their regular trade In this state Of
things there Is Of oOurIe only very limited de-
rand for money, aud this not - much for new in
vssiments IS to carry along old stocks. The mon
ey markets thsrsoTe necessarily larguish, and but
for tn, movements of fanis for Ihs seven-thirtiss
| there would not be sufaofsht do.Dgto employ one
half the capital Of the Banks.
1 From alt present appearances, the task Of cor
recting this condition Of aai rests with the West
| Il has the produce, and wi h it the undOubted
right to x price upon It; but the fact Is pretty
well demonstrated tbat1it is NOT in position to
compel others to pay its prices, and sound eeonou
would Euggsst that it take what the circumstances
justify, before the coming ofnsw supplies forces
greater fAereoes. It will require very consider
able Increase upon present demands to induce
Eastern buyers to pay Western prices. aud unIsss
the merchants of the West hEVs something sureI
than possibilities m this regasd upon which &c
rely, they will be wise 'anl put money in theiI
pockets BY at once nesting the market, instead o.
waiting in the hope that something will turn u
Of which they new see no prospect.
Financial matt, rs inithis city eoutinus quiet an
unchanged. The Treasury has given notice o.
heavy drafts forthcoming. The "a es Of 1905 bJ
tho second BationAl Bank yesterday and to-dsJ
we're s95, $50. ..a,
Gold rultd very quiet and steSdy In New YOl
to-day, there being little feeling in it, ans
closed tonight at $50. Governments are lower un
der the Europssn news Railways are MATERIAL,
over as the result of heavy attacks by the bssTS
Whe are aided In their operations BY the tighten
/ of the money market.