New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-06-10
| SECOND BOARD p. VI.
STATE BllashdyIf BOsSaHk ana RdilrO1a-FIprsss
sArrEDAY. Juno s-P. NJ.

The general trade of the city during the
week under review has beon Affected to greater or
less extent By the action Of Congress on the Revenue
and Tariff bills, which have now become laws by the
sanction Of the President That class Of goods IN bond
liable TO feel favorable effect OF the legislation have
been i'm good request but the general trade has been
ouet as viii he long time before the reduction goes
into eject and the week closes on dun movement
in nearly all departments Of trade. In
dry goods the trade has been quite irregular aud excited
for the more staple description OF cotton goods with con
siderable variation I'm prices The real business has been
LIGHT. but considerable speculation was INDUCED In
among the package dealers. 4 fair movement was re-
ported in the retail business but just at this time the TO-
ourements OF retailers small. In cotton another
active week has been noted with further advance IN
tbe prce Of Low Niddngs TO &c., owing to the oversod
condition Of the market
In financial circles the events Of the week have not
been especially startling Early in the week the prooa-
bntv as Judged from the DISCUSSIONS in the English
Parliament that the Supplemental clause Of the Wash
ipcon Treaty would not be adopted, and the oxpeca-
tion that Ensand would withdraw from the Geneva
Tribunal and thus put end to negotiations, operated
In produce dun markets. STILL after all, bankers and
business men we're not disposed to lament the loss
NJ the Treaty. and experienced sense OF RELIEF
mot the veyatous controversy had been closed no
matter i'm which way Accordingly the whole community
Was somewnat surprised yesterday when the news was
dashed over the wires that the Treaty not lost after
al that the British Ministry only required little
further humiliation the part or our Government in
ordering Gen scenck give written assurance that
the real meaning the Supplemental Article was an abb
soIue withdrawal Of the National claims. This piece OF
humble Die haying been bOlted, Mr.. Bull expressed him
sef satisfied and kindly consented that the arbitration
NJ Geneva might proceed. The changes in the
various markets effected by this news, however
were not of that importance that would
have characterized early adjustment OF this inter
national sduabbe for although gold declined and the
railway shares sfened in price, yet there was little
,it, or sn,ritedness OF movement I'm either depart
mont large operators feeling disposed to await the oi
cal announcement that the Treaty business has been
finally closed before INDUCING in speculative flights. On
the whole gold has been strong, but toward the
close declined from 11Il to l135. though the lower
r,neo was more especially due TO the slack
eninr mn of the export demand and the lower
inc M the line OF importatiOns OF dry goods and
General merchandise, rather than any importance at
t,cbe5 IN the Alabama matter. Should negotiations
finally proceed there are reasons to suppose that the
conference al Geneva will be postponed for few weeks
ana tins the full benefit Of an adjustment OF the matter
in ii.nute woud not be felt this Summer Consequently
mo p. negotiations OF American securities would not
ne ~ sufficient importance TO especially favor the
Hpidation of our trade balances, although doubtless
oene considerable negotiations have already been
animated contingent upon the success OF the
treaty. The movement in money during lthe
week has been one OF nnbrOken and
the general range OF rates on call has been five and
nor cent while at the banks and Trust Companies car
per cent have been the quotable rates The currency
movement has been unmportan the demand not hay
inc et In TO move the wool clip, although the hardening
Of exchange in Western money centers makes it quite
nroboble that the exodus will not much longer be de-
Iaved Az this will give the city banks opportunity
10 a. nd away National bank notes, with which they
ro,r overburdened, It Will be "consummaton most
devoutly TO be wished" The bill introduced into the
House by Mr. Merriam authorizing the Treasury to
eeiye deposits legal tenders the gold Issuing
therefor certificates OF deposit. has during the week
became law These certificates not to bear inter
est but simply take the place Of the eenbacks which
the banks are now compelled to transport in bulk in
their daily clearing house exchanges. Under this new
law however clearngs will be facilitated and property
less ieopardzed The Government bond market during
the week has been buoyan aud the highest prices of the
year reached. The demand continues eager, appar
emily at the advance when prices were considerably
lower and holders manifest as little disposition to SELL
knowing the difficulty OF replacing their stocks az mar
ket quotations. The difficulty OF the Treasury In en-
deayorng 10 NIL the demand for two MILLIONS on Wednes-