, 1873-03-27
2u9et Sauatl 9ispateh.
Official Paper of the City.
SEATTLE, THURSDAY. MARCH 27. 1873.
Financial and Commercial.
SEATTLE, March u. 1873.

The Puget Sound Banking Company
report gold in New York 1l5344, currency
buying, ,s61a; SightExchange on Portland
and San Francisco. u per cent. pre-
mum, on New York per cent. pre-
MUM for Currency, 1H per cent. pre-
MUM for Gold. Sterling Sight Drafts
On Jay Cooke, Mccullough & Co., Lon
don, England, S5 10 per 6. These
drafts are cashed by special agreement
all over Ireland, Scotland and the Con-
tinent free of charge.
During the past week, trade has been
moderately active, but our merchants
complain of much difficulty in making
collections. Money is scarce and Will
remain so until our loggers receive their
pay for the timber now being cut.
Logs are in good demand at paying
prices. We understand that logs are
getting very scarce. and that number
of the mills have had difficulty in get
ting supplies, as those logged last year are
all gone, and tae new camps are hardly
in working order. The outlook for this
season is very fattering for the lumber
business. There has been an advance
in price in San Francisco with an in
creased demand. Tonnage is lower than
it has been, which leaves a good mar
gin for our mill-owners aud lumber
men. 4 good demand for lumber in
sares good times for Puget Sound.
We clip from the Bankers Magazine
for March, IA Financial ard Commercial
Summery of San Francisco and t.e Pa
ci6c slope for 1872:
SIN sixteen years California has adj
ded to the worlds wealth, in coin and
bullion, through the port of San Fran
cleo, the enormous amount of $685.
900. 200 in round numbers, and wholly ex-
elusive of what has been carried by in
dividuals A country capable of snch
stupendous achievements must COM
mand the attention Of business men i'll
all parts of the globe.
While many other sections of our
favored land have been subjected to
sharp trials and discouraging vicissi-
tudes, >and portions of other counties
hare been desolated by floods, storms
and pestilence, the Pacific Coast has en-
joyed degree ofprosperity unsurpass-
ed by that Of any former year. The va
rious industries of this side have -four.
ished and progressed, have been ex-
tended and improved. Commerce has
been largely increased, and all lines of
domestic production been augmented
in the most gratifying manner. Our
harbor has been visited by 3,695 YES
sells, with all aggregate tonnage of l.
240, 376 registered tons, and bearing the
, fags of all maritime nations, includin
that of Japan. Foreign demand for our
unparalleled crop of wheat was active
and sustained. By reason of deficient
tonnage at the commencement of the
harvest season, and the un1scal require
ment for shipping all oveI the world,
freights were at one time higher than
ever before experienced in California,
anu the amount of money expended to
market our domestic products was very
large, while the price paid to vessels
for importing merchandise reached the
high figure of s., ,5Si ,G65. Probabl. not
less than ten millions was expended as
freight money during the year. With
such statement to contemplate 1t Is
certainly strange that no greater efforts
have been put forth to build and own a
merchant fleet with which to transact at
least a fair proportion of our maritime
commerce. Our treasure exports for
1872 reached S29, $50. 435, exclusive of
what was forwarded through the United
States mails. The Sub-Treasurer trans
ferred $7,l50. .000 to banks, and sent
East 50 900, 900. TIE amounts Of coin
to the interior points amounts to over
SIS, eco, ,0G0- while the. receipts from
interior and Coast-wise were in the
neighborhood of only $4,000, ,o0o, the
value of of onr merchandise exports was
1913, ,793, $50 or nearly $40, 900, ,000 more
than in 1871.