New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-04-21
SATrEDAY. Anil 10-p. NJ

SATURDAY, April 10-P VI.
Since the opening of navigation and the reduction
in the freight tariff over the leading trunk lines of
railway, there has been something of an improve
ment in the general trade of the city, though pend
ing the elimination of the monetary stringency all
classes of trade are suffering great distress, and so
business has been very quiet, and without any ma
terial change from last week in the great staples
Cotton was disposed to further weakness at the
start but closes steader the basis of Isle for Low
Middlings. The receipts for the week 81 $50 bales
against 1885 last week. 1861 the previous week.
and 56,Olj bales for the week ending March 49, The
total receipts for the expired portion of the cotton
year are 8, G3G3S bales against 2,53Sl7j same time
previous year, an increase of G2jlC3 bales. The
exports for the week 80 400 bales against CO Sj
a year ago. an increase Of 2GGij bales The total
stocks hand are 490,SjO bales, against 3iOOll
bales year ago, increase Of 1920 bales. The
total stocks in the interior towns arc 9,2iO bales
against 46,6O1 last year. increase of 9),l5j bales
The total quantity Of cotton in sight amounts to
2,5s3O61 bales against 24o 1O7 same time in 1872, an
increase that year over last of 81 1854 bales
In financial circles the week has been fraueht with
than usually eventful interest and noted chiefly
for the remarkable strngency of money which it is
to be hoped has now eliminated, the weakness of
Government bonds and the decline and sudden re-
cOvery in stocks, though singularly gold was quiet
and without feature. Money, on account of the
summOning of certain Wall-st parties before the
Grand Jury on Monday, was withheld from use. and
among capitalists there was decided indispostion
to make loans until il was definitely deter
ined precisely what would be the result
of the deliberations of the Grand Jury
1t tyanspires that they were unable TO trace any
violations of the Usury law, though their sitting
resulted in the practical indictment of the law itself
the jury recommending the Legislature to repeal the
Usury laws 80 far loans personal securities are
concerned. The result of this action was 10 con-
sderably mitigate the strngency ut the close of the
week when loans on call were down 10 an endnrable
rate, having commanded bonus earlier in the week
of TO per cent per day, the moro general rate
being / TO !. Among tho reasons for a declining
tendency in rates may mention the large shrink
age in the values of stocks caused by the
sharp decline of Wednesday and Thursday which i'm
turn was caused Immediately by the suspension of
Barton g. Allen, who were heavily long of Western
Union and Union Pacific. The shrinkage of ten or
twelve millions in values added 80 much TO the
available supply of money the street, aud formed
one of the elements of ease at the close and the
hope AZ well as belief is expressed that the strin-
gency for this season is over. The bank reserves
should also be strengthened from the disbursements
Of the Treasury on account of interest which will
amount between now and May lat to over
been OH the whole strong On Monday