The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-01-12
RICHMOND MARKETS.
THURSDAY, January

and the day before IL was ABOVE the IreeZluS
point. On Monday there was q strong pros
pect of the close of navigation, and dealers in
articles of first necessity were planning for
the campaign. Indeed, such was the flow of
ice in the river that some vessels were on Tues
day obliged TO cast anchor down the river
The sudden change, however, has diSappoint-
ed calculations and very much relieved the
apprehensions of the consumers of provisions
and coal. In the present day, when men, by
circumstance and habit are so prone TO demand
exorbitant rates when there is 4 scarcity, we
trust we are TO have no suspension of naviga-
ton 1t would be terrible for a people who
have very little money, and who are required
TO pay cash for everything. The bright, open
weather of yesterday and the day before,
should it continue, will cause shipments to be-
come quite active.
Nothing new 10 note in the money market
Money is still scarce, and in the efforts to re-
build the city, men have to use their available
assets for loans to their full extent. Had IL
not been for the ill-fated burning of the Sd of
April, this city would have been comparatively
easy. There We're goods and securities, too,
here, just before the close OF the war, enough
to have enabled the city 10 have gone on i'm
mediately after that event with an active and
nourishing trade but they were Ill destroyed,
and the money capital here now, and all that
can be borrowed elsewhere, is devoted mainly
to building. The repeal of the usury law
would increase the capital employed here, and
give great relief to trade. The banks here
can furnish only n moiety, we suppose, al
though, as their accounts represent they have
been very active. They are understood to
charge only six per cent. How much is paid
for outside loans here and elsewhere we are
unable TO say-yet rumor represents it to be
from three to six, and even ten per cent. n
month. If that is done under the usury law,
would ii not be better 10 try the market with
out it? 1t could not be worse and with
such an example, it seems that we ought at
least TO see what its repeal would accomplish
STATE SToCEs.-The condition of the market
relative to State stocks is anomalous. The
Virginia Convention and the Legislature, du-
ring the war, placed under the ban all bonds
held in the then " "so-callcd" United States,
and declared that no interest should be paid
on them and the Convention called upon all
loyal citizens (of the Confederacy) to convert
their coupon bonds into registered bonds.
This was extensively done but the coupons
country, TO be used in blockade running, &c,
so that there was little interest paid during
the war, except on registered bonds. The
coupon bonds-nearly all of thcm-still have
the coupons from July !, 1861, inclusive, at
tached 10 them. They are now quoted in New
York at sevcnty-five dollars in the hundred,
interest going along with them. There are no
sales of these coupons here rs there are, in
deed, none here for sale. The registered stock,
on the other hand is sold here and not in
New York, rs the tormality of transfer can
only take place here. In the transfer the in
tCrest never goes with the bond il is sold fdt,
i. e., without back interest. III the sale of this
bond it has become 4 custom, under the rule
laid down by The board of New York brokers'
to consider that the fiat bond is worth about
the same as the coupon with the interest at
tached, and they deduct that interest, dollar
for dollar in grecnbacks, TO ascertain the
amount per share TO be paid for the fiat bond
According to this rule the quo tations here are
given. We quote sales in this market, of re-
gistered stock fiat, at S4l3$4l.5o. The cou-
pom bonds, with interest, sell in New York at
seventy-tye dollars.
The holder of the registered stock cannot
and it would be, on that ground alone, very
important thing to him TO have it exchanged
for coupons.
The tenants held n meeting on Tuesday eve
ming, and adopted series of well-considered
resolutions, which, it is hoped, may do some
good in the way of arguing landlords into
some relaxation of their high rents in this city.
GoH has been steadily declining in the New
York market, and has correspondingly receded
here We quote to-day, buying rate, Sl'39
selling, Fl 40 New York quotations, Sl.3SA.
1t is supposed that the indications from Wash
ington, touching financial matters, give bet
ter assurance of no sharp measure to hurry up
specie payments. Considering that there Is
not much circulation now in the Southern
States, il is not assuming too much TO suppose
that the entire floating circulation OF banks
and Government is not much, if anything, in
excess of the demands of commerce. The
means of the Government, therefore, if en-
ployed in reducing the amount Of its interest
bearing oblgations--thc class bearing highest
interest-without disturbing the currency un-
til we recover little from the war, would al
once be improving its own credit and avoiding
any interruption OF commerce anu circuit III ~
period the most critical.
We give below the weekly quotations at
wholesale, with the remark that there is very
little doing.
App1Es.-fa barrel, 81; dried, 2 II, 8Gloc.
BucKwHEAT.- .-5!G6c. for Virginia; 7s for
Northern.
BAcox-Sides, 9o62olc. hams, new, 2462ec. ;
old, 206a?2c. shoulders, new, l:Gl9c. old, 100
lie.
BUTTER. .-s5Gl5c. T. h. In market, pound rolls,
soc.
BRAxDY.-French, $li3$l5; apple, $3.50; Phila-
dophia, -. .4o0$?.7j.
BEEswAX.--35c. u h.
Corn MEAL.-Bolted, Sll5; unbolted country
ground meal is cheaper.
Corn -s5@9oc. Stock reduced and prices ad-
vanced Sc q bushel, partly OH account oi the anti
cpated closing of navigation.
CHEEsE.-Northern and Western, 2o82lc. Eng.
lish dairy, 2563oc.
CorrIE.-Rio, al@a9c. (; Laguayra, '59aec,
Java, 4?945c.
CAyDLEs.-Adamantine, light weight, Soc; full
weight, 32c. tallow, 2ld2?c. psrafne, 4Sc.
CIDER.-Apple, 35G4oc. p gallon.
CHERRIES. Seeded, 2543le. p h.
CorroS Market quiet few sales at 4Sc. Nlr'