The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1866-12-01
iiI0NETARY & COMMERCIAL.
= Especial to the Evansville Journal
Weekly New York Market Review.
New YORK, November 26, 1866

NEW L DIRK, november 70, 1866.
Editors Journal:H gEg
The declining tendency in Gold premium
last week, together with greater strin-
gency in money, have had a depfessing in
fuence on the markets for general mer-
chandise. While we note the tendency
has been to lower prices, we also recollect
that for some time sTnactivity has prevail
ed, and prices already cut down to quite
low point, and it is thought the markets
are now in a position to give trade safer
and more healthy basis.
The week opened with greater demand
for Money. and the stringercy increased
until Thursday, when 1t almost assumed
the formrof a panic. The moving cause is
said to be from the Secretaryaof the Treas
ury calling in deposits from the public de-
positories, in order to pay off the out
standing clearing house certificates; and
probably also an effort on the part of the
same official to compel the banks to sell
their Compound Interest Notes. These Sc
curities, the Secretary is understood, as
anxious to redeem, while the banks have
been equally anxious to retain them, as
they formed a reserve which paid them
good interest. If this was the Secretary's
object, he was eminently successful, as the
announcement on Friday that outstand-
ing drafts In favor of the Treasury ,. could
be paid in compound interest notes. at
par and interest. gave immediate relief
to the banks and the market. Capital,
however, is in good demand at 7 per cent,
for call loans, with stock collaterals. Com
mercial paper rates from TO 10 per cent.
GOLD PREMIUM-Went steadily down.
4 AIq< MI
when It touched 1875, and closed on Sat-
urday at 1881. To-day the price is strong
at 1891. There is a large supply of gold
now in the country, and spectators find it
more difficult TO control the Market The
export demand is light. The condition of
the public finances is very favorable, and
gold premium seems to follow it's natural
downward inclination. We do not look,
however, for any, settled condition of the
market. until after Congress meets, when
we hope for some settled, if not sound
policy, in the operation of which, business
men may, with some degree of certainty,
predicate results. vna rf awode 1880
GovERNMRET BONDS Sympathized with
gold, and we e depressed most of the
week. On Saturday they were more ao-
tive, the 5-2Os of 1852, closing at 1857 to
100. ~ 21r $500 a,,s5.f Is ,1stfI
FOREIGN ExcHANGE-Is in better de-
mand, at 1881 to 1881 for commercial, and
1922 for bankers go day sterling bills.
BREADsrUFFs-Have yielded to the mon
ey pressure and the decline in gold, as well
as increased receipts. Receivers of Flour
have been under the necessity of selling,
and lower prices have prevailed; Medium
grades have declined fully SOC per barrel,
while most of the higher grades are held
off the market, but reduction from nom-
inal quotations would, in any case be nee
essary to effect sales. Prices being in
manner nominal, we give no quotations
The receipts of WheGc have been larger,
and mlIlers have purchased cautiously,
and with decline in gold prices are above
ashipping point. Corn, with violent fiuc-
tuattons, has been generally dull and
prices lower, with more firmness at the
close and some demand for export. We
quote Western mixed, 81 23@1 Is.
PRovIsIoNs-Pork is dull. New mess $40
92l Is. In Lard there is some business
doing for export at l3@1S1zc for steam rem
dered Western. 1t is thought that Pork
Lower gold prices than the present have
80 saaHH
WooL4 Has further declined, Without
lending to business, the decline being
greatest ON domestic fleece. We quote
Ohio and Indiana Wool, 4O@5Sc.
ToBACCo-The market for Kentucky leaf
has been very quiet. partly owing to the
scarcity of suitable styles. The sales have
been about 500 hogsheads at to 18c, and
mostly to the home trade,
CoFFEE-Is dull at prices ruling in favor
of the buyer.
SUGAR-Is also very quiet and prices al
most nominal. We quote good refining
l0@l015c, soft white 1414c.
TEAs-Have been dull and irregular, with
few transactions.
CoTToN-During the week was very quiet.
The decline in gold, with the dullness in
manufactured goods, both in this country
and in Europe, having depressed the mar
ket. On Saturday the Liverpool market
was better and our market to-day is strong
er. We quote middling uplands at 34@35c,
with a much better feeling, and holders
asking CSC. The receipts at all the ports
since the LIST of September to last advices,
are about 100000 bales, against 10000 last
year. Yours, truly,
FOSTER, COPELAND & Co.