The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-07-11
FINANCE AND COMMERCE..
OFFICE OF THE EVENING TELEGRAPH,l
Thursday. July III, 1867.

IuuThuhyt July H. looIs }
There is no falling off in the supply ofmoney,
either on the street or at the banks, and no
change in the rates. The encouraging crop
prospects have proved most opportune to the
dropping confidence OF merchants. 1t is felt
that there is now solid basis for hopes of i'm
proVement, and both in financial aud trading
circles there is relaxation of the extreme eau
tion which tor months past has paralyzed busi-
ness The severe experience of late months
has left many with diminished means for
CARRYING on business, while it. has sObered all,
and produced general disposition to trade pru-
IDENTIFY. The financial Chronicle says, eff we
DO not misinterpret indications, there is a liza
bility on the part of manufacturers to regard
the crop prospects as demanding large supply
of goods. In this city there are large stocks in
the hands OF commission agents, and reports
from New England and Pennsylvania state that
heavy stocks are piled upon the factories.
Some of the manufacturers are using this
glutted condition of the market as an
argument with their hands for reduction of
wages, but none appear to favor the policy of
curtailing production. Applications are made
at the banks of New York for advances upon
manufacturers stocks to an extent unusual at
this season OF the year. These with other facts,
would seem to indicate strong probability that
the supply of domestic goods for the tall trade
will be unusually ample. Under these cIrcum-
stances there would seem to be little reason in
the hope entertained among manufacturers that
an active business in the fall will induce an
advance in prices"
There was no life at the Stock Board this
morning. Reading Railroad closed dull at 524
and all the other speculative shares were
neglected.
Government loans continue to look up aud
closed at lll40lllb for the coupon IS, 1881;
ll2A0ll124 for the 5-20s, 1862; 109b0D1l0 for
the 1e64s; lO9l@1l095 for the 1885, 1929 for the
l0-40s; l07&@10S for the June aud July 7-3Os;
and l0940Dl06B for the February do.
State and City loans were remarkably quiet.
The sales Of the latter were only in small sums
at 99{ for the new, and 95b for the old do.
All the better class OF Railroad and Canal
bonds are held very firm,
In Canal and Bank shares the sales were un-
important, and prices without material change.
Quotations OF GOld-l0a A. NJ, 1883; III A. NJ,
1889; IL NJ, 1885; P. NJ, 1889.
The Boston Euealng zraveler, July 9, says;-
"he banks are freely lending currency their regu-
lar enstomers and To- transient borrowers for short
periods but they are dOiug little or nothing on long
a ~ cases where promissors aud coaterais
meet with the appreciation 0i hnanee committees or
renogte IN few Instances but they form the eSce5
lions which prove the general rule. The discount
soaresy Of desirable notes and acceptances Tor sale
Those of the right stamp which are classed in the
from SIX % seven per cent The buyers OF in eror
grades and OF single names. unless cons dered as
Prime mortgages are In good favor with capitalists
and ios sayngs The leading brokers and
rifles and 70 iesxcnapgng currency scrip for bonds
which yieiq nall yearly Interest In specie Manuac-
turing and bank stocks are rather quiet but there are
enough purchasers TO take up the stray lots oered for
sale tnS Saues Of hs change ln the relative
shares. o9t & Ihe most OF the others show but little
The reported failure OF the dry goods house
OF Wlcks a 20. Is much reduced In the amount
of the liabilities, being now stated at about one
million and three-quarters, with assets to the
amount OF 81, ,403, ,7ll-the difference beiug re-
duced to about $07O,000.