Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-10-17
REVIEW
OF THE
WILMINGTON MARKETS,
FOR THE
WEEK ENDING THURSDAY.
October l6. 1873.

= .
FOR THE
WEEK ENDING THURSDAY.
October I6, 1873.
COMMERCIAL EPITOME--Tht
pressure in money still continues to re
stricted the movement of produce and
merchandise, and there is no important
= change to note since our last in the
condition of commercial affairs. The
recent panic Las dealt severe blow to
speculative operations, and business is
confined principally to strictly legiti-
mate operations. Though 10 great i'm
proyement i'll financial affairs have oc-
Cured during the week, yet there is a
prospect of an early Frightening, and
our northern exchanges, where the
panic still continues to some extent,
have taken hopeful feeling for the
future, and from them we extract the
| following remarks on the outlook. The
New York commercial and 'NiDpi"g
! List says:
Monetary affairs are gradually re-
turning to their old channels, and con-
fidence is slowly increasing. The banks
are now quite generally paying ont
currency when it is required; aud, by
way of rcmittances from the country,
, or deposits from customers, good
deal is coming i'll daily. a contin-
uance ard an increase of this recipro-
cal movement is all that is needed to
restore financial matters to their nor
NAL condition. Business interests,
however, are more or less cramped for
funds necessary to meet their require
ments, which at this season of the year
are very large, and, as consequence,
the volume of the home trade con-
tinues comparatively light. The ex-
port movement, though less active
than last week, keeps up to fair pro-
portions, III consideration of the de-
cline iii Gold and Exchange, these in
fiuenccs having seen partially offsetby
lower rates of freight to foreign ports
on some Of tie principal staples, and
a dec inc in prices. With liberal ex-
portatiols, and corresponding de-
crease Of importations, the trade bal
anc3 Is working steadily III our favor.
And tic Baltimore Ga2e'tc adds:
"The almost total cessation of coun-
try remlttancas lowing to the derange-
ment of domestic eXchange) the ina
bilitv to realize upon produce III hand,
and to sell exchange based upon ship
ments, are among the natural causes OF
this mercantile stringency, and as these
causes cease to operate this distress
will pass away.
Of course there are always unsound
houses at all times of business and
general or particular pressure causes
such, from time to time, to go down.
No better proof the sOundness OF the
general mercantile community need be
required than the very few failures
which have occurred, and even If we
should be called upon to note other
manifestations of this kind it would
not canse for alarm. A few cases OF
sporadic fever does not make an cpl
demic.
The week has been one of apprehen-
sion. without untOWard result, and as
app1 ehension begets precautlon we may
safely conclude that the situation IS
improved. This is unquestionably the
case in financial circles, and with the
forbearance and accommodation of the
banks it will be SO with the mercantile
community"
At the close of the week we notice Il
general improved condition of affairs,
and Trough financial arrangements are
not in excellent condition as yet, there
is revival of business and
a. orr writing to-day there is more
confidence exhibited than has been
noticed for several weeks past. Our
country producers could aid consid-
erahly in the relief OF the money mar
ket by sending in their produce (Which
We may add is securing high prices at
present. and tie wheel Of commerce
would soon reyolve with increasing
vitality if the merchants and factors
had stocks in their hands to realize on.
This at present is the drawback, which
is adding to the increase Of monetary
troubles, and the only way to relieve
the situation is to place III the hands
Of the factors the produce to realize
funds on and this will certainly i'll
crease the flow of currency. At tic
"Exchaucc" this week the Attendance
OF "buycr, and sellers WAS large,
but there vas 10 speculative demand
OF any Importance ard cultures were
not operated in. "opots' were III
some demand but there WIS only a
small stock in receivers hands and sales
to a large extent received Il restriction.
SPIEIFs TuEPENTINE ruled very steady
through the early part of the week
with some slight Improvement on
former rates but no important changes
were effected up to Tuesday when
there WAS an advance Of , cents, and
since the market has been steady with
gradual increasing strength to the
tone and small advances of prices.
RosIN-There has been only Il light
demand prevailing for resins and in
the absence Of any speculative de-
mands there WAS only small enquiry
for "spots" and even this light demand
was restricted by the small stock in
receivers hands. Strained does not
exhibit any marked increase of prices,
littt iitf litiitE' tflIioDh - Iuoi ldNoI-
able and the arrival of numerous yes
sells and the large export movement
has induced firmer feeling. CRUDE
TURrESr1NE-Has been very steady
with 10 fluctuations or change of
prices. There has been steady de-
mand for the article and the receipts
were taken on arrival by the distiEers.
TAR-Has also ruled very quiet and
steady without interruption of prices.
CoTToN-Under unfavorable cable
grams and Geographic advices, has
been subjected to n considerable de-
cline, and even at the close there is
depressed feeling in the market.
GRA1N-Is quiet and unchanged in