Cleveland daily leader. [volume] ([Cleveland, Ohio]) 1865-1873, 1866-01-12

Compouna interest notes l02 @lO6 buying
and l0@@IOS selling, for the various is
sues.J Sal ha- - i-i rLf at .3l.n.aat sao"'
The, Mercantile Agency of r. G. Dun &
Co, New York city, awe issued their annu-
al circular reviewing the trade of the coun-
try during thesyear, 1866 The number Of
failures, and amount of liabilities, in the.
Northern States during the past nine years,
is given, from which it appears that the
failures last year were 55Ol in number, with
liabilities amounting to sIE,625, OOO-more
than double those of the two preceding
years. Large as these figures are, the Cir
cular remarks that "c~ensideriHg the 'snof-
nous volume OF the internal and foreign
commerce of the conntry-=the number of its
tfaders-the exceptional condition of its
finanees-the burden which it bears and the
struggle from which II has e~merged-these
failures are woundrously few. and indicate
a degree Of solidity and capacity hi the mer-
camille community most gratifying for the
tptesentland promising for the future" The
prospects for the present year are considered
tlattering, both for increased home prodacb
ton and an improved foreign contmeree,
bat caution and prudence in business opera
ti9ns is urged as a means Of safety against
possible contingencies. 4poasthe subject of
credits the Circular holds the following
sensible conclusions. ui- --
In a country such as this, with an inter
nal so vast and so varied, and
spread over so1arge an area, credit is an es-
sential. 1t Is found to be a necessity in, all
quarters of the globe it is peculiarly SO in
thisaT But while it may Be made a good and
proper element in the extension aud for the
fadilityoeftrade, there IS nothing so capable
of abuse or so Susceptible Of injury. A
greatly restricted commerce, and an enor-
mously increased currency, enabled our peo-
pie for a time TO almost dispense with the
system; q return, however, to peace, a great
and marvellous gr0Wthin the trade of the
country, and the opening up of new fields of
industry and enterprise, make 1t necessary
TO again grant credits. Seldom, fever, was
there a better opportunity for reforming old
abuses than now; and under no circum-
stances could there be greater need of eau
ton and prudence. An undue expansion Of
credits wall certainly result in embarrass
ment Of most disastrous nature, especially
in view of the inflated prices and large
SNOCkSyi WHICH =hIe likely sui IOr some Lllne
to prevail. Both in amount and in time
should the limitube small, and very much
more than the usual discrimination should
be exercised as to parties Obtaining credit
Men Of character, Of capital, of capacity,
only should be entrusted with confidence,
ahd every means for obtaining information
regarding them made available. ai iol OF
Es Local commercial circles exhibit no signs
Of reaction from the dizziness chat has So.
long characterized them, and the depression
and iindisPosition to operate is of course in.
creased by the steady decline Of aHAelasses
of commodities at the seaBoard. How long
this will continue IS of course purely matter
of cpnjeeture,a but it would seem tho end
must be reached at no very distant day. We
have still to report very Little demand for
Flour and Grain, and this limited to local
and nearby buyers; but prices are fully
maintained, and in this regard we can re-
cord no change. Provisions are quiet, steady
and unchanged. The receipts of Dressed
Hogs We're large to-day by teams, and trans
actions were more liberal than for several
days past, atr93@IOc, chiefly the outside
price, for good averages, In some instances
holders were asking IO4@I O4c, but general
ly parties melton loo. We note nothing new
in Butter or Cheese. Their market for both
is quiet. Eggs are dull and lower. High
wines, though quiet, exhibit more frmness
and am upward tendency. The demandf for
petroleum IS improving, and the market is
az" - 4