Vicksburg weekly herald., 1870-05-07
WEEKLY COMMERCIAL AND
FINANCIAL REVIEW.


Business has assumed a summer
dullness, and with some exceptions
the stores are only filed with Gus
toners episOdicalIy. Our banks
report gold buying at this pOin;
! ll06lll, and exchange selling on
New York, 81. Louis aud Cincin-
natl at 4 per cent. premium, and
on New Orleans at par. Money Is
in great demand aud very scarce.
The cotton market has declined
little as our regular quotations
will show. There Is no present
prospect Of an advance, and per-
haps none for the rest Of the season.
The New York sales of cotton for
future delivery as far ahead as Au-
gust are quoted at p cents. The
total report Of the receipt Of cotton
at all ports in the New Orleans
Price Current show that the In
crease is now very gradual, and It
may be that after all the entire crop
will only reach a medium estimate,
say 100000 or 100000 bales. II
so the price will advance probably
when this fact is ascertained.
The report Of the Price Current
to May 4th gives the total receipts
at 1881, 200 bales excess Of G47 1868
bales over last season. Foreigu ex.
ports, l,747,726 bales; excess of
jfGS0. Exports coastwise, 763,-
069. On hand, 3l6,j99 bales.
The New York Chronicle of the
30,h ult. says:
The improved state of trade,
which We have noticed IN the past
fortnight continues; in .act not
little speculation has been dcvcl.
oped in some Of the leading staples,
and the increased volume of trans.
actions is the subject Of general
comment. The advance in gold,
the ease in the money market, the
better export demand, and reduced
stocks or supplies have been the
various influences at work.
And OF the cotton market:
The market the past week has
remained quiet and without mate
rial change In prices. Continued
free receipts at the ports and the
untavorable European adyices have
tended to depress the market, but
with the small stock here and i'm
provement in gold holders have
been able to prevent any important
decline, middling uplands closing
tonight at 233Sc, against 49, &c last
Friday. Buyers, however, do not
take hold with any spirit, but con-
tinue to show the same caution
noticeable for some time back, while
holders, in view Of the small move.
mcnt at Bombay, express consider.
able confidence, notwithstanding
the continued free arrivals at our
own ports; but the general tone Of
the market is towards lower rates,
though there was an apparent firm
ness at the close.
The free receipts Of the past week
are due to the higher rivers of the
Southwest, and also TO the fact that
the putting In OF the new crop
having been in great part com.
pleted, the planters have been able
to spare their labor and mules to
haul cotton to the shipping points.
We stated several weeks since that
there was considerable cotton still
remaining on the plantations, which
would most likely be marketed as
soon as the spring work was over.
There is a disposition with some,
in view OF these increased arrivals,
TO place higher estimates upon the
crop; but we see a4 yet no reason
for this, as the figures we gave early
! In December, and repeated again on
the 18th of February aud several
times since, are probably about as
near the total result as it is pOsel-
I ble to reach until the fual figures
are made up at the end of. the sea-
son. II the arrivals continue long
on so liberal u scale, they must be
very much smaller later on.
Asto the new crop, we have heard
during the week very little of i'm
portance. The general report is
that there Is considerably more land
planted than last year, but the ex-
tent of the increased planting is Of
course quite uncertain as yet. The
weather has been wet and cold du-
ring much of the time while tho
spring work was being done, and
last week a severe frost visited a
large portion OF the cotton grow
ing States but we hear of no dam
aye 20 cotton, Us it was not suth.
ciently advanced.
The same paper says OF the gro
ceries.
Business in this department may
, still be called fair, but the move
ment is not as yet easy, or indica'
tive of an opening Of i regular
steady outlet for goods On Coffee
prices ARE too high to induce any
purchases beyond such as necessity
! may dictate, while Tea, Sugar and
Molasses, though offered at rates
leaving little orno margin forproti
to importers, are in such large
} stock that buyers are, to some eX'
tent, masters of the situation, aud
b, refusing TO operate, except from
} hand to mouth, manage, with thu
; liberal arrivals, to preserve a iul
, accumulation, and TO keep value
undera continual state OF deprcs
4 sion. Tho advance in gold has hat
! no other effect than to add u LITTLE
i more courage TO sanguinc holder.
,, and cause the Withdrawal OF dcsir
! able parcels. The demand from
d the interior has fallen of some
g what, most buyers having secured
Y ooou,,b o,ooda IN iaet until the "a