The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-06-17
COMMERCIAL AND FINANCIAL.

COMMERCIAL AND FINANCIAL.
TRADE was light in the city last week,
but prices are generally pretty firm.
The only special feature of the market
was decline of half a dollar In nails.
The mills are all running and there Is
a moderate demand for their products,
This is, as usual, their d ull season, and
like everybody else, the manufacturers
look for an increased business after
harvest. We presume that the usual
summer stop for repairs and recreation
will take place the next month.
We were shown on Saturday a very
dangerous ten dollar counterfeit on the
Third National Bank of Philadelphia.
Nine persons out OF ten who are in the
habit of handling money, would per-
haps receive these notes without ques-
ton. Indeed unless compared face to
face with the genuine, holding each side
by side, they are calculated to deceive
almost any one. We advise our read
ers to look well to all notes on that
bank, and also TO be on their guard
against similar counterfeits on other
banks, for it is now ascertained that the
National currency, Notwithstanding
the superior excellence of its engraving,
can be as successfully counterfeited as
the notes ofthe old banks in days gone
by. It ia impossible to furnish any re-
liable data whereby the counterfeits
can be distinguished from genuine is
sues, save that on close inspection there
dawns upon the eye a gradual realiza-
ton of the inferiority of the former.
The paper appears TO be more brittle
and gray-like in its make, and the let
tering and figure work lack the lustre
and tone of the genuine.
Gold remains very steady at about
1877, varying only fraction from day
to day. This hrmness, In view of the
crop prospects and the forthcoming
July payments of gold. is not little
remarkable, and indicates that the ten
dency of speculation at the mopied
centres Ia towards higher rates. We
shall be disappointed however If the
first of next month does not depress
the premium. Our exports must in
crease after the harvests, unless there
shall be absolutely no demand for our
surplus in Europe. The reports from
European crops are not such as to lead
to extravagant speculations in the way
of demand, but still we may reasona-
bly, hope to see the price of flour fall to
such a figure as to create market
abroad. It will be noticed that the
tendency is downward from day to day,
Notwithstanding an occasional check
in the descent. Saturdays quotations
show a further decline and from this
time on until after the wheat is cut we
may hope to see continuation of this
decline.
Speaking of the wheat we may men
ton in this connection that our friend,
Capt. Downing, who arrived from
Eastern Pennsylvania, on Saturday
evening, where he has been for several
weeks, informs us that considerable
damage is being done in that section
by the red weevil. It Is feared that
very light crop will be cut throughout
the counties of Chester, Lancaster, Berks
and the other adjoining counties.
The Cincinnati Gazette of Satu rday
last, has the following remarks in re-
gard to the condition and prospects of
trade in that market:
There is continued dullness in the
general markets, and all branches Of
business are in sympathy. Butunder-
lying all this an improved feeling is
observable. People are "waiting for
the crops" and, in view of the fine
prospects, are gaining confidence every
day. Everybody says we shall have,
with a good harvest, a revival In busi-
ness, and what everybody says, under
such circumstances, usually comes TO
pass. With good harvest assured,
the anticipated movement will follow,
and we shall have all the more health
and yigor for the resting spell and
strengthening operations that are being
experienced. As regards the crops, ac-
counts continue favorable, and as the
season advances the indications Of a
year OF plenty are more decided. The
first fruits of the year are certain
ly very abundant. Never was
there q more abundant supply of ber-
ries, and immense yields of all
varieties of small fruits are assured.
The more substantial crops promise
equally as we'll. It looks as If Nature,
which has been resting for two or three
years of bad crops. is now about to
make up for lost time. And this prom
Use seems not to be confined to any par
ticular section. Everywhere tits equally
The SOUTH, even, where labor was de-
moralized and poverty prevailed, is not
an exception. The cotton crop. will, in
all probability, foot up over three mil
lion, and may reach four million bales.
This would give double the quantity
for export that we had from the last
crop. Such a result would send gold
down to 125, and send our credit up in
Europe in proportion, while at home it
would contribute largely toward giving
strength and confidence to business.
Other crops are also good in the South.
Wheat has turned out well, and corn
promises good yield. Another year,
therefore, we shall have market for
goods, where this. year we had COM
munity of paupers.
mARKErs ny TELEGRAPH.
Nrw Vopr lima IF