The Cleveland leader. [volume] (Cleveland [Ohio]) 1865-1865, 1865-07-26
FINANCIAL q COMMERCIAL.


TuEspAT EVENING, July %. 1885.
The National Banks Of the city to dsy received
notice from Jay Coose Of the absorption Of the
sevsn- thirty Loan. The third series Of this Loan,
amounting to SlGO.OOO. 200, has been upon the mar
ket about sixty days, and with it's absorption
makes atDtsI OF 5000 600, 900 Cf eeVen and three
tenths bOpds by the people, almost the entire pos
session OF which is 10 the United States, q cSmTar-
~atively small amount having gone abroad. The
Second Eatirnal Bank sold ysst-rdsy and today
100000. and subscribed for ssOo.OoO.
With the closing out Of this LO3R comes the trial
Of the Treasu y in providing for future expenses,
and financial circles are awaiting developments
with some anxiety. aWhat will Secretary MeCul-
loch dor" ia the almost unisersGI question. CAL
~cuIatIDg the expenses OF The Government up to ths
ass milling OF Congress at $500 OOo, 900, including
the maturing certificates Of indsbtedness, $780,
1000, and estimating a } isld from taxation, Gus
tens, etc, of SEQ, coo, OOO, and there remains $780,
90 coo to be provided for. The question IS to the
authority Of the stcIetsrJ to issue bonds, except to
the extent Of converting the interest- bearing Treas
ury issue, is involved in donbt, and should the Sec.
Rotary regard the law as confirming him to this
limit, he can do nothing more than take up the
maturing slOO, 900, OCO Of certificates. and the re-
mGining 500, OOO,0 o Of expenditures must be met
by q further issue Of certificates to be carried over
to the amount of next year. It is suggested, how
ever, that he may ask a loan of the National Banks,
to be provided for by Congress, and meet his obi
cations in this way. But no on9 prt tends to do
more than offer conjecture in the matter.
In the meantime, some Of the Eastern press rep
resent financial circles in their localities As a good
deal unsettled In consequence OF the question thus
presented, and that class Of Journals that have al
ways labOred to produce panic and distrust finds
the opportunity a favorable ono 10 hold up to the
pub ic pictures Of increased paper Issues, specuIa-
tion, Imitation Of Prices. zud other bugbears, 10
frighten and disturb the unthihkiDg. The delay Of
the Treasury in announcing the condition Of the
finances, which is probably caused by the great
pressure upon the time of the Department Incident
to the mOreiDPOrtant matter OfPAying OF the amy
and other obligations, is held to- be . confession Of
weakness and Tear, and such an impression is sought
to be inouloated. A few are inhusrcsd bI it, and
looking forward to a season Of speculative prices,
are putting their money in Railway stocks and
osher sources of speculative revenue, thus giviugs
gest Of credit to the sOphisms which they so readily
swallow by advancing prIess Of this class OF ssouri-
ty. This same class are also seeking to dspress the
panic Of Government Bonds. in which they have
had partial success, within a day or two, and are of
couF;e the chief mAnipulators on the (" bull" side
in gold. We hope and confidently believe that the
silence this clsss so much complain Of on the part
Of Secretary McCullOeh will te broken to their
confusion, and We feel satisfied to trust to the good
judgment Of the Secretary to develop his plans In
his own time and manner.
The local money market is rather more quiet, the
demand for discount yesterday snd to-day being
only moderate. Currency is in fall supply fer legit-
innate trade purposes, and such Papsr finds ready
acceptance. GxehAngs Is ,ay hndih fair request,
with firm rates at HsH on buying and par sell.
ing,
Gold Is evincing rather more armuess, the indiE
ference ofthe {" b,ar" interest rather encouraging
the {" bulls" TO advance the premium TO such .
figure as will enable them to unload their accumu-
lAtions without . loss, il net with profit The p.Ics
closed this afternoon at l43.
The Import entries at New York for the week
ending On Saturday were larger than for some time,
amounting to s6,2O6, 1853, about double those for the
same week last year. The Exports Of Domestic
produce amounted to So. s47,757 sgainst S7.S7s,-
$40 for sans week last year.
The general markets to-day were without much
animation, reported transactions being small
Flour is Armer and better, city millers having
again advanced thtir price. on red and white dOubl'
eItIss-this time Soc per Dbl.
Wheat continues excited and unsettled. Buyer
were more plenty to-day, but holders we've firm
and hardly knew Whist prices to put upon their
stocks. The transactions reported were very lin.
tied and scarcely enough to establish rates.
The market for Corn il irregular, but 700 may be
considered a fair quotation.
The receipts of Oats are fair, and tbs market 1
Abont % lower than yesterday.
h,t tho -,
in a small way. Nothing doing in Barley, apd
: prices are nominal.
Provisions are very firm And in active densnu IUI
the whole lire. No new feature to note in Butter
Cheese snd Eggs.
The market for Produce L. generally hrm and m,
The following were the receipts and SHIPMENT
at this point by Railroad, Lake and Canal OF lead
Ing articles during the twenty-four hours ending
- aawap ofcIork Nbgs ,,o-,Fn-.