The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-05-01
COMMERCIAL AND FINANCIAL.

THE New York quotations show a
very firm market for all classes of Gov
eEpmspt securities, more especially the
Old bonds ofls62! The European bank
ers who so readily parted with their
bonds at the first scare a few DAYS ago.
will, no doubt, buy them back At a loss,
Some of the bankers in New Yorl, arc
said to have sold 'tshort,' and are now
obliged 10 cover at the advance. 1t is
said that gold is weak and with difa-
Guilty sustained at present quotations
A very, considerable 'bulr, element
was created by the European news,
many OF whom yet hold on for chance
to unload.
The stock market fiuctuates, but the
general tendency for the moment Is to.
ward higher prices. Financial writers,
however, still contend that the rise
lacks outside support, and, that gener-
ally speaking, railroad earnings and
prospects are not such as to justify a
material advance. But, as an offset,
there Is growing ease in money, and
somewhat more confidence in a revival
of business. Even the promising as
pect of the crops istaken into consider
alton as an element in the value of
railroad property, and prices are predi-
Gated more or less upon that uncertain
basis. The tendency in New York is
to discount either good or evil at
a very long range. ,.,.-r... 4,...=.
In regard to the condition of things
at Cincinnati the Commercial of yester-
day has the following comments:
"The supply of Currency has been
increased some during the week, but
the uses OF lthave not fallen of to any
extent apparently, except perhaps in
the amount RENTED Eastward for Ex-
change, borrowers are keeping nearly
full lines, and in the Offerings 81 Paper
nearly all branches of business are rep
resented. There seems to be an in
crease of capital in the hands of street
brokers seeking business Paper for dis
count, and Investments in such have
been made lately at 10 per cent. This
OF course tends to regulate the bank in
terest1 and twelve per cent. becomes q
more exceptional rate, though there
was some Paper placed in bank at that
inquire Today. Continued delay in the
collections OF dues to merchants and
slackness OF trade generally keep many
merchants in the market for loans"
The Gazette remarks as follows upon
the general markets: .u
The week opens with only a moderate
degree of activity in the general mar.
kets. Flour is very firm and holders
are Indifferent about selling except at
full prices, but the demand Is not heavy,
as prices here are too high to leave
margins for shipment to Eastern mar
kets, and the trade Is confined to the
city and vicinity. Wheat continues
scarce and prices of all grades Of win
ter are still creeping upward, while
srring wheat is a shade easier, Corn
was Irregular to-day; sales were made
at full prices in the morning, but on
Change buyers commended strongly for
concessions, and obtained them in some
instances, but some ofthe heaviest hold
ers refused TO accept lower prices, and
the market closed dull. Oats declined
1a2c, but We're in good demand at the
decline. Rye,Was tlrm but not active.
Barley was quiet but steady. Whisky
is held quite firmly in bond, but il
is difficult TO effect sales at the prices
asked. T--1-'--I
Virginia bonds have advanced to 65
since the late act of the Richmond
Legislature selling the States inter-
est in the railroads, and in providing
for the per cent. interest determined
upon. The bonds thus advanced are
the old Issue and include an accumula-
tion of coupons for five or six years.
We hear of the failure of Mr.. Lang
ley, an extensive wheat and flour man,
at GalliPolis. He was somewhat no.
ted for the extent of his operations and
had WIDE circuit of dealings in his
line with farmers and bank men. The
failure is said to be heavy, and that
considerable loss will DO entailed on
parties of small means.