Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-12-12
REVIEW

W!LM | No I On MARKETS,
FOR TIE
WEIR ENDING. THURSDAY,
prcsssaber II. 1873.
e. -- -, : -
COMMERCIAL EFITOME. - The
busincss Of the week has been inter
rupted by tic recurrence of Fair
Week. which has served to distract the
attention of the merchants, and trade
. in some branches has been restricted
thereby. The Spanish question, which
muce or less affects the foreign and
New York markets, exercises but little
i inilnerco locally, and whatever changes
gre t.. ':a noted are due to homo intiu-
enccS. FLe nike telcgrams from
| Havana and the threatening aspect of
! affairs growing out Of the Nirginius
matter has been prominent theme
i'll business circles at tie North, and
thereby. This dulIbcss has. of course,
I been some barrier to an active market
here, but, in spite of these influences,
there has been a large amount of bus
mess done, both in the present and
forward markets. The condition of
monetary affairs is improving with as
rapid strides as those which marked
the depression, and the growth of con-
fidence has been larger than any week
since the panic became apparent,
which has been doubtless due
to the fact that the business men are
finding out that the agricultural and
commercial interests are really solvent.
The press at the Worth are continuing to
call loudly for financial reform and
better system of Banking, and in order
that our readers may know how the
Presidents message on Finances is re-
gardcd there ami what effect its char
acter has upon the business of the
country, We copy the following from
the Financial Chronicle &:
''Thc character of the Presidents
message and the report of the Secre-
tary OF the Treasury upon the subject
OF national finances. and the uncer-
tainty which prevails respecting the
course of legislation with reference
thereto during the present session of
Congress. have batfied speculation and
given quiet tone to business circles.
Some Improvement would have result
Ell from the reduction OF the rate of
discount by tho Bank of England to
five per cent, but it was followed by
decline in gold and exchange, and thus
its natural effect was neutraliZed. So,
too, the rise in gold has been
attended with fear of war with Spain,
which furnishes another element OF I'M
certainty as to the future. Hence, as
n rule,. business has been limited TO the
actual wants of buyers, which are sell
dom great at this season.
The naval store trade the weel, as
compared With last week shows q fur-
Their increase IN the valuation OF e1-
ports. The exports the United King
dom for the week were 3,l13 CASTS
spirits turpentine and 1924 bbls rosin
against II ,o94 rosin and co casks
spirits turpentine for last week.
RosTN-There has been II good demand
for rosin during the past week,
which, however, has been depress-
ed by the unfarorably adyices
from New York, and there was
some decline in values, but towards
tie close there is better feeling in the
present and forward market, and fu-
lures have been handled considerably.
SPIRITS TCRPENTISE.-Ihe market has
been firm all the week, but the ad-
vanccs were light, owing TO the DC
pressing news from New York. AT
the close the market may be written
firm CRUDE TCBPENTISE.-Not
has transpired to interrupt the regu-
larity of the market during the week.
Tara further advance in the price
port demand for the article is good
the inquiry. CoTruN-Has been va
riahlc and Irregular oil The week, with
some fluctuations Of prices, but the
hoe 4
DRY Goops. -As the
draws toward a close the dis
tribution Of dry goods naturally be
comes less liberal, though there is
still comparatively fair business
doing for this period Of the Year and
the tone Of the general market is
steadily IMPROVING. Jobbers are not
disposed to stock up Iauch beyond
current necessities Ill view of the near ,
approach ~ the opening Of the new
wear and tho annual accounting Of
stocks, but " here agents are offering
j line Of staples at prices at all below
the nolninally quoted range If values
BUYERS are easily found On the other !
hand, goods. llc Il III full prices move !
Slowly and t!iC activity III first hands !
seems dependent upon tho chcai,ness
of offerings and their safety as speech
Iativo purchases. Retailers restrict
their purchases to t,ctnal wants, which
are fairly heavy. GEAlN.---A slight !
advance in the grain market may be
written to-day. Corn is stronger. -
Oats are quiet and steady. Peas are
quiet and dull, with very light enquiry.
AIoSrY. The condition Of orr local
money market has not. changed much
during the week. Deposits arc grad
ually increasing, and although the dc
mand for money is large, the supply is
rather increasing Rates of discount
and interest arc unchanged.
The special features Of the week and
the change Of prices Of the principal
articles of produce are reviewed as
follows:
COTTON.-For cotton the market
has boon quiet and generally heavy all
the week, and quotations were varia-
BILE with some fluctuations, but prices
generally were in favor of purchasers.
The relative high prices at which sell
1ers have been holding cotton III this
and the limited offerings, has
had tendency TO restrict operations.
At the close of the week, however,
there IS some Improvement at the
North which has been felt in this mar
ket. TIE aggregate movement OF the
week amounts to :;S7 bal : ut figures
ranging from 123 to ID cents T. H..
The receipts for the week were as fol-
lows: Friday, 321 bales; Saturday, l23
bales: Monday, 800 bales; Tuesday,
179 bales; Wednesday go bales;
Thursday, 29G bales. Total 1901
bales, against !,O99 bales fer last week
The cotton report OF the Department
of Agriculture, for November, unlike
previous reports, showing the com
paratiye condition earlier i'll the sea-
son, makes exact estimates OF the
expected crop in each county, stated
in the form of n per centagc of last
1-oor'S o,c,, Tho oUrrorat,, Ot thaSa