Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-03-29
FINANCIAL & COMMERCIAL.
FINANCIAL.
MORNING LEADER oFFIOE,

TUESDAY EFEhlA8g uBICn 70 1850.
There is decided abatement Of the financial
storm in New York, and though all the dark and
lowering CLOUDS have net yet been dispersed, but
still Hnger to cast something of their gloom over
affairs. they are much less threatening and inspire
less apprehension from their presence. The fu-
ture, however, is stIu nllsd with doubt, and the
question Of It's solution is beyond the ken Of The
wisest 00e thing, however, seems to be mo ally
certain-indetd is mRtte of common consent
namely that the day Of excessII ely inflated prices
has passed, and that heneeforward we shall wit
ness a nearer approach to the legitimate. Itisnot
reasonable to suppose there viii be no mora specu
lation-ths redundancy of the currency, which
will of c1urse be all the more plethorlc for the pur
poses of trade in consequence Of the large decline
IN values, forbid any such an idea; but the ten
dency of the future will be steadily, though Of
course very gradually, toward specie basis, and
whatever speculation exists must be moderated TO
this scale, and go outside oft only the peril
of disaster. Ths question that the busin IS CON-
muuity now want solved-snd 1t is a most difficult
one-is, Where are we to stop ?" and could this
be satsfs ctorily answered, there would be want
Of activity in the trade the country. The panic
tuly shook p,culstion from its seat and hurIsd
it fiom its gh places, but completely COMPOUNDED
the theories Of men, and so disarTanged all their
notions as to lave them teaeh.d and rudderless
now that it has lulied or passed. To launch out
again upon an unknown sea requires more nerve
than most Of them possess, and some time must
elapss before the most venture some will care 10
move far from shore. But trade cannot perma.
nent remain in its present depressed eondi ion.-
Ths economy OF the people during the past of high
prices has been taxed severely, and with pIeth-
orio money market ard comparatively cheap CON.
mOdites consuu ption will largely increase. bring
ing with it OF course proportiorate increase Of
business in all departments. Such change from
the present condition of things will come just SO
soon as business men themselves come to reeog-
nize ths true position they should occupy.
The fluctuations in Gold in New York day wae
light and free from special excitement. The rate
opened this morning st 1881 and clcs d to-nigh.
at 1929. In this city The offerings on the street
were fair, and the general buJiOg rate with brOk-
ers was 1s2.
Government Gold stosla continue to improve
gradually, with a good steady demand. Railway
Shares dull, weak and lower. There is evil
IDENTIFY a growing timidIty in relation to invest
meEts in Railroad stoc 6, which is by no means
relieved by the increasing defects of majority Of
bh5 Ioaus Aho latosh sbtCh quO- hElOu5 ale
ed on our frat psg'.
The local money market continues very quiet
and steady at ab5u9 the condition noted by US for
some days Iast. The rates for Exchange are un-
char gsd at q OF buying and par selling.
The sales Of 1905 at the Second National Bank
to-day were $1,000 The new issue was placed on
the arket to-day and subscriptions 10 it will be
received bS IN same sub-agences as were engaged
in the sale of the old.
The Cincinnati Banks yesterday threw out Ken
tueky curreaoy, with the exception of the North
ern Bank, and placed it at discount Of I@I1S per
cent. The of this ls the refusal Of the pa
rent banks to furnish greenbacks for the notes OF
the branchfs.
The Cincinnati money market is reported very
quiet, with plenty of currency. Bankers are not
disposed to lend. Nominal rates Of discount are
1922 par ceat., but in outside circles GA is the
range.
The Chicago money ma ketis reported very close
aud stringent, bah from city Of currency and
a oslBeli alton on the part Of Bankers to take
risks The rates of discount on the street arc 20
per cent a month.
The import entries Of the past week ct New Eorh
amounted to S',767 ,O5s. against S5.c27,7 ,722 same
tins las. year. The export clearance of domes-
tic pioiuee amount to So 6os, ,4s6, against IS, ,2es
IS same M last year The export ofspecie was
sI64 44O. against s474 COO same week last year
Tho customs for the week we're 81 ,1t7,9 ,97l.