The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1871-11-10
COMM ERCEAL.
NEW YORK MARKER.

NEW YORK, Oct. 81
The money market is characterized by a con-
dtion of dulpcss that bids fair to become in
tensiied. Discounts a. the banks are extreme
~ hard to be obtained, and they are taxed to
their utmost TO find means for accommodating
mercantile borrowers, and commercial paper ls
extremely hard or pe1otiation uuless it be first
class, aud even IN such 40 from 10 to Is per
cent discount ia exacted. This condition OF
financial affairs has as yet caused no very great
change to occur in the gam market. though il
continued for any great length OF tune, ike
the tidal wave 1t will be felt. In breadstu6s
quiet prevails, AMI there is corresponding
market in Liverpool. speculative demand
caused more buoyaut feeling for day or
two, but without materially affecting Values
In wheat there ls little better feeling and
stronger market than at ast quotations. The
market for mess pork OF late has presented few
encouraging features for sellers, and after
several DAYS hard labor In the vain attempt to
bolster up the position, operators finally found
it nccesss = to give way on values as the only
means OF 5estorng BUSINESS, various copjec-
lures are Iipe az to the cause Of the depression,
but 1; may safely be set down to the three
words "too much ork." In dressed hogs the
decline corresponds. Ia beef sellers look for
pretty full prices, on a belief that good to
primo qualities will be less plenty than at first
supposed, but BUYERS are not prepared TO ac-
copt tins view OF tne matter, aud hence bus
iness drags.
From what can be gathered concerning the
stock Of hops in market and IN first hands, we
cannot advise growers to market them Mt pres
snt. The principal demand for this article
comes from the bre Eers and their sasson in
now closed. The principal portion Of the sea-
sons crop already marketed has been taken mp
by spectators Who have bad better appre-
cation Of the situation than the brewers, and
whom the spring opens the latter will have to
stock 10 q largo extsnt from speculative ho,derS.
whose interest it Will BE- to enhance prices.
Sincs these wil make piices-s;rowers might
as well wait tho tide Of events. The Brs,rer's
Gdreite. says:
- Hops are hops, IL the remark made b. both
holders and purchasers, and from all accounts,
the quantity OF item appears to be more lim
ted than Vas at first Supposed"
Latest quotations place superfioe western
Flour a. a686 40; common o good do, COCO
81; White Wheat extra, J,f87.65 Sales OF
Wheas noted No. 2 Spring 50 I.4S]l@l 53;
Winter Red Western. I55@1.6l; Amber
Western, l.63@1,G5; White do, LG5@l s.;
Corn, Rye aud Bsrley continue dull; Hops
stsady az 965 for i'7l.
NV Nppu No 7,t
70 dag beng the occasion OF the election, the
Produce Exchange, the Sto,k Exchange, an
tho Gold Exclangc with other branches %
b Ieiue5s. are closed, aad there is consequently
no blsrcss 10 report in tno rosrset.
There bae been a regular decrease in valpae
in breaIstnfs since our last, and the market y
dali botb IN -four and whsst though wiata,
grades OF the latter are lite firmer owing to
q Il ghs falling of OF enpply. Liverpool quo
{ tions continue to show drmness aud poou |
demand, and there can be no other reason for |
the d screpsncy In values between this and the
other sido OF the watsr, than that the f,oy O, |
oreadsturs to Tho seaooard rs no great az D,
shoke the market. suporaue Western Flour
quoted Last week at ss.1OCss. 10 10 held now .t