New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-08-26
SECOND BOARD--l r. NJ.
Sat SaT Bonds HdiToad RdtToad-Bhpre
400 IVES, In. Tel
SATURDAY. Aug. PAP. NJ.

The general trade of the city has again been
light business the different marts sadly nterfered
with by the intense heat prevailing during the past
week. With n continuation OF such weather as was
vouchsafed us yesterday and to-day by the Weather
Bureau It is likely trade will spring into goody proper
tons. The run down in gold has had its effect in reduc
ing the volume OF business though fair movement
noted in of the leading staples There has been
considerable activity and excitement IN breadstufs,
flour and wheat having made u decided decline.
The latter took violent tumble, ow-
ing to the breaking OF the "oOrner'
Chicago the grain producers Fastening their crops to
the market the full benefit Of the advance causing
such free deliveries compel the bulls to default
in their contracts In groceries light business was
DONE but prices maintain fair degree OF tirmness
The cotton market has shown diversity OF movement,
without special activity, closing quiet and firm on the
basis OF for mddng upands though TO what extent
the heavy failure In London Of Gedsanes Co., with
liabilities equivalent to So 600 will affect the future Of
the market, remains to be The prospects OF the
coming crop are rather less 1attering when take
the weather reports into full consideration, there
being much cause for complaint in the prevalence of
rust and the advent OF the army worm. The movement
OF The week was light but rather larger scale than
that Of last week in the line OF receipts which amounted
TO 3s bales the exports only reaching $3.50 bales The
dry goods trade has been on the whole quiet but IN
rather improved proportions from last week, and would
Some heavy purchases have been made by houses in the
INTERIOR local iobbers also taking supplies with more free
dom Domestic cotton goods held with steadiness,
at very little variation in prices from last week the IN
ouiy for wOolens having been light at fairly sustained
quotations. Foreign fabrics were more active toward
the close prices merchants in the interior
can yassng market preparatory to early selections
On the Stock Exchange and in financial circles there
has been more than ordinary complaint of the hot
weather and this has doubtless prevenedany new spec
NATIVE operations In brief, stocks have been heavy
and lower, gold having made sharp break OF almost
two points Government bonds having sought also lower
quotations. Money has steadily hardened during the
week and the basis Of call loans has been about ana
per cent, though on Thursday much AS gold was
Maid in isolated instances. The occasion was excep-
tional however and the and per cent money
Of the week has been largely due to the action OF the
gold pool In borrowing currency on gold collateral,
and stipulatlng that both should he Kept nom
active use on the street. But aside from these,
there are natural and legitimate reasons for expecting
closer working of the market. based on the Autumnal
outflow OF currency for the purpose of moving
crops to tide water the demand having already set IN
ana some important amounts gone forward. There has
heon an unsettled tone to the discount market and we
ouote best names at per cent with very little doing
below g. The banks doing nothing except 10 a rev
favored customers. Gold has made smart decline of
over per cent from 1925 thus undoing in space
az ak DAYS the abors Of the pool for two months The
decline has been natural the public sentiment being
strongly against high premium. Aided by wealth,
nrestgr and former success, the clique, by extreme
hard labor and resort TO not always the most
bouorabIe among financial gentlemen, had succeeded in
running up gold 10 ll6i, and beyond that, II would not
move n peg higher. Government bonds have main
tanned good front in the foreign markets. but here
quotations have fallen of gold declined though far
from active business has been reported Southern state
secnrs have been neglected except ny certain houses
vino make such bonds speciality good business was
done in railroad mortgages.
The railway and miscellaneous speculation on the
stuck Exchange started OF brisky and under the impe
tus derived from the strength and increased price IN
Pacific Mail considerable advance ensued on the open
ing day OF the week. Aside from Erie, however the
general market has sagged during the week, and not
ithsandinR the efforts the downward current,
which was steadily dragging down the market, prices
LATER Welded. The indications, narrowly watched,
,n,ed 10 heavy sales OF long stock, and in this par
,icular Union Pacific Northwest 0hos, and c.. c. and
Central bore evidences OF the heaviest sales 10
reaize The hardening tendency OF the money market
M doubt had It's influence and the idea that lower
ho of values should be touched before attempting any
,ew movement may be act down one OF the prin-
ctoal causes of the decline for the week.
There have been new developments In Erie. whose
stock 40 long the public chooses TO deal in IT, can be
made the football OF speculation for long time 70 come.
The continued reported decrease In the earnings per
az course unfavorabe to upward turn but this II
secondary consideration In view Of the supreme control
held by the clique After advancing from abt TO bia
rse OF seven points-the price dropped In equally
rapid manner nearly the price nom which 1t started,
this heavy decline adding the general depression.
there we sbyp advance In PsEaus-ths extremes