, 1865-10-09
FINANCIAL AND COMMERCIAL.
MONETARY

The general business Of the city during the week
has been srtlvc, and cur wholesale merchants have
been kept busy flltnE orders and shipping goods ia
tho Interior. The rroduee Trade, however, has
suffered somewhat On account Of the stringeneJ IN
The money market and the advance IN the rates Of
fcight, and tIs too In spite Q! buoyant ma1kcts At
the East.
Contrary to genera! expectation the money mar
let thie week has been even coser shan that Of last
week. When the National Banks we're making prep.
aralons for their quarterly statements. This cloae:
ness Is 10 be attributed mainly to the decrease Of
currency Ia the city. which The statements c1hib-
ited but partly in consequence Of an lndspo-iiton
on the part q! hanksrs 70 enr1y grain paper clear
Into The provision teasou, when they will require
their funds for the 1,ecf and orR-packers. Last
week they called in 1orge number O! their demand
loaus On grain, and this week they find that unless
the warehouses arc depleted somewhat before the
c,oee Of navigation, they will be uaablc to saord
provision operators the necessary accommodation
10 cazry On theIr business vigorously.
utapart from ali thus, receipts OF Live Stock and
GrsIu during the present week have been very
bessy, aud TIC demand for currency by coum1asIon
merchants has been unusually active. Beside the
receipts Of 21nfn-Which have been heaEy-thefe
have been recetsed in this market dnring the past
week, % 100 Hogs and 9,eT head Of Beef Cattle
p.,ces Of Live Stock 4se now higher than ever be-
9eek "a high rs E1a50 per 100 1os gross, mud Beef
Cattle as high az $3.50 At these rates It takes IN
enormous amount Of money to handle Live Stock.
md our hankerz have bad more than they conld do
to keep up With The requirements Of the trade.
Touching these high prices for neef aud Pork,
there Is eomc solicitrds felt both by bankers anil
packers as to the operations Of the coming season
Last eeason prices Mcro much lower than at present,
and set 1t il sae 10 estimate that the Beef aud Pork
packers Of the West lost ten millions Of dollats.
Experience has ah0un them thas they psid loo high
prices Inst year, and 1t IL not strange that They
should feel nezyons about paying even higher prices
during tho coming Eeasou. Bat theEe Is this In
favor OF the present prizes. It Is the legitimate IT.
sutl OF IN active demand, both for the home and
foreign market. Last Season, the advance 1n prices
was caneed mainly by The high Jate Of gold, and
The demand WIS chiefly speculative. During LIST
season, gold fell from 20 down to $50, and, although
The pork crup Was believed to be short. quota
tons fell with gold In epite Of all the super
hnman efforts that were made TO buy The 1ass.
kct up. Last eeasop, tte beef and pork packers
h,d to meet not only the decline In gold, but asso
tic panic which that decline caused In the general
nlrket. During the coming season the cold ques'
tfou viii ppt probably disturb them materially, md
with licht stocks at the East. and good demand
there is not 10 much danger Of a packer losing
twenty uer cent of his Investment, eEen though
prices r1le high. There wtl probably be less dis
position to speculate on the market, anu IN tass
var ynIues will have eoundcr basis, At the san1e
time we think that 1t will be necessary lot pFosas
lon dealers and packess to operate cautiously never
forgetting TINT as prices nds1ncs, the rate Of con
sumption DECREASES and that, no natter how short
the supply, whenever the price goes beyond Ger
| tain feure, the demand is sure to tan OIL
| TopAr the money market WAS VerJ stringent,
and enne Of tho best houaes in tho city were unable