New-York tribune., 1873-05-12
SATURDAY. May l0-P. NJ


The general trade of the city during the week has
been moderately active. but nothing remarkable has
been noted in any direction Freights have been
steady and have advanced, and the breadstuffs
steadier the market for groceries being also quiet
aud steady, with transactions ON a small scale. A
moderate business was driven in dry goods,
but without any material improvement 10
prices or activity. Cotton has been
duh and lower, until at the close of the week,
when slight upward reaction set in, the market
closing on the basis of IS. cents for Low Middng
The receipts at all the ports for the
week were 43 10 bales against 4s046 the previous
week and 46373 bales for the week ending April Is.
The total receipts for tho expired portion Of the cot
ton year are 1901 $40 bales against 26OO460 same
time previous year. increase of 70 4SO bales. The
exports for the week were 57,05S bales, against
17,43O year ago-an increase of S962S bales. Fhe
total stocks on hand 3S4 6l3 bales against 23076
bales year ago-an increase of l4l 53 bales. The
total stocks in the interior towns 78 455 bales
against SO l24 bales time last year-an increase
Of 4OS3l bales. The total quantity of cotton in
sight amounts to 2,604626 bales, against 2,5OS,0SO
same time last year-an increase of l0l596 bales.
The week in financial circles has been unusually
quiet and devoid of interest feature and the dull
ness has been equally marked with week in mid
ment bonds irm but stocks have failed to respond
to the returning ease of money, having been dull
and only about steady all the way through. But the
monetary situation has very greatly improved, and
for the first week in several months we may report
as rule money Obtainable at legal interest. This
is due to the liberal receipts of currency from the in
terror and the disbursements of gold by the Treas
ury the combination of the two SO far placing the
market on favorable basis that it is not likely any
more serious attempts will be made TO manip-
ulate money for higher quotations. Vague
hints are thrown out that such step
is about to be taken but doubt its if at
tempted On the whole we look for a comfortable
market for the present and that this TO be the
general impression is evidenced in the demand for
commercial paper, the business in trst-class names
having been unusually large. Some of the banks
are dscounting for regular customers at
z per cent, but the rule in the outside
market is TO 10 per cent. On Wednesday
the Bauk of England advanced its minimum
rate of discount from per cent 10 A. following up
the same to-day by another rise of / per cent,
the advance to-day being due to the troubles on the
Vienna Bourso The banks on the Continent have
moved their rates up during the last few weeks and
the response by the Bank of England was of a pre-
cautiOnary nature. rather than a necessitous one
and has been anticipated In well informed circles
and therefore causes no particular alarm in the
premises. Its effect here was most decided in gold
the premium being worked up to llsl to-day while
the previous range for the week had been l6, TO ll7
Foreign exchange has been more than ordinarily
quiet all the week. with, however. business doing
all the way through at concessions from announced
rates but closing strong. A sharp demand from the
foreign bankers has characterized the market for
Government bonds, and large business has been
done at high prices, but the orders for buying were
ahead Of the supply Of bonds Offering. In State