New-York tribune., 1872-08-19
SECOND BoARD--l p. u.
SATURDAY. Aug. 17-P. NJ.


week has been restricted scale IN nearly all the
different departments, owing to the extraordinary heat
OF the weather. and the disposition Of both the mer-
camille and the financial classes to enter into new en-
gagemens at present. The lower level taken in gold
has also seemed keep matters quiet and prices weak
The outlook, however is by no means unfavorable to
fair movement in the future, The cotton market
has shown very little change in temper or price, the
relative difference between spots and futures being main
tanned throughout the market closing the basis Of 2t
for low mddngs. The market has been IN no way IN
nuenced by the reports Of the crop these having
been diverse and rather conflicting. The receipts for
the week 24i2 bales, and the exports 1858 bales
Breadstus declined gold receded, closing dull ana
dropping, the trade in groceries being also Hght'
and without the Improvement in prices that had
been confidently predicted The expected Inauguration
the Fall movement in dry goods mas been delayed py
the sultrness and heat, and though the market was
favored with ready buyers al the outset vet later IL was
quite deserted and prices consequence were marked
down on cotton and woolen goods. There was only
limited demand for domestic cottons Of leading grades
though more was doing in wooens at steady prices
Foreign goods have been offered quite lbeTally, and
operations TO a reasonable extent In Fall packages have
been reported The amount OF dry goods thrown upon
the market this week has been unusually large.
In financial circles the movements have not been
specially important the extreme heat here also serving
TO put a cheek upon dealings. Money has as rule
retained its late unbroken ease and and per cent may
be set down as the fair call Yesterday tenn
porary furry the market an active look and III the
rush to make MP their bank accounts (the movement
being sprung upon the market just about y. m.)
some brokers paid as much as per cent,
but the instances wer6 isolated, and rates
quickly rclapsed Interested assertions TO the
contrary Notwithstanding, there seems to be nothing
in the immediate outlook to warrant the expectation OF
high rates for money The Controller OF the Currency
has last taken step in the right direction by insti-
tutlng measure of reform which will correct an abuse
existing so long be almost regarded as common law
The following circular explains itself We have fire.
ouenty pointed the falacy Of the long prevalent
system OF making mp the bank averages, where the
banks count the gold twice for which checks are out
standing, thereby misleading the public:
"In future reports of condition OF your bank made
uuer the head OF checks and other cash items The
amount OF checks will be stated separately Dutex
Items of specie Ii include coin, all gold Treasury
notes only stated separeIy and extended as hepSoiore
Controller OF the Currency
| There has been very light trade IN United states
bonds the variation in prices having been coprehended
within the range of per cent The move neht IN eoln
IA. been unwoutedly active, with more han ordinary
interest centering in the market In carly business tue
free pressure Of several millions OF to be
clinue-rold had the effect OF forcing down lhe price
,,ou, ,,ss to lli the depression deriving assistance
from the low rates at which standard drawers were oher
! 49,, ,h.ir sterling bills. At the point indi-
! tod fresh upward movement set ~, ana
! - irnort,nt lots were bought at the
dvoncc aqures TO l5a The advance found fresh sap
mont in the rnmor that active money market in Can
a had made il necessary for the banks there TO call
he their floating gold II Is not believed that auy Sc
ors trouble can arise from this source. Foreign ex
hap has been unsettled and irregular all the week
| rho onerations OF the week ON tho stock Exchange
we're attended with only moderate degree OF animation
during the opening days, but by degrees the market
| re,oraed into quiet until at the close the
dealings were on most restricted scale. The special
feature was Erie which declined 81 per cent on free
sales induced by the heretofore stated in these
| columns Western Union claimed, "and had its claim;
allowed" good share of attention, the price having
gone done from about ~ TO 69 with later reaction
7sl The stocks next in point Of interest we're Lake
Shore, North Western Ohio and Mississippi c. {. and
c. Union Pacific, and Pacific Mail The general market
although showing slight recovery, is rather unsettled
In tone, and speculation is hestatlng With the return
| Of cooler weather, however, when the bull
| aud "bear" forces shall have peassembled IL
| their customary haunts, "a liveler conduoh U
affairs may reasonably be expected. To-day mas cur
ried of palm for dullness the TRANSACTIONS having
been exceedingly small and in many specalties actually
,riaing The changes we're slight, though early in the
day tho tendency of prices was downward. western
Union dropped and finally fell rom 7ss to T2i North
West Common from T3i TO 13i Pacific Mail nom 5t t'
T2I aud Erie from ,6i to i5s. The changes in the "
mainder of the list to per cent chiefly In down
ward direction In the afternoon the dulness Increased
and beyond the fact that steader feeling character
lied tho dealings nothing was done worthy of mention
Among the Investments, Panama rose to l2it Inc mis-
celjspeous skares Hrmer In Quicksilver eAprcss