, 1873-10-02


began that sigma Of real roaction and i'm
proyement began to manifest themselves in local
financial circles. Thore hayo beeu days when
aflars woro ccorful exterior, and people folt
bettcr without exactly knowing why. Yesterday
everybody seemed to Ino,o that thero waa
nl,augo for tho bottor. In the first place. tho
rrico Of wheat advanced 6 conts por buHhol, and
before tho close Of tho day. gained 3.5 ccnts
more, closing at 91.031G cash, against o. conss
tho previous day. Corr. also advanced cents,
with shipments of 440 900 bupl,ols on Tuesday,
md demand for froight-room for 100000
h;ghor than at my timo since tho panic
began. Foreign exchange has advanced III
Now York to O point which insurea tho
/ rapid aud regular movement Of tho oropa. Gen-
ora1 trade was moro active than on any previous
| day, and tho streets presented nvclier appear
auco than before, while tho harbor was fairly
! aliyo with shipping. Tho savings banka report
moro doposits than notices Of withdrawal. Tho
receipts Of currency by the express companioa
| wcro about s3,000,000. Tho banks havo COM
noncod crodsing their customers for checks on
other city bansB good standing, instead Of wait
ingtopnsa them through tie Clearing House. The
fast freight lines aro doius grain business fully
equal to their capacity. Tho railroads arc also
| carrying great loads Of tho cattle, and tho tom-
pornry blockade at tho Stoch-Ynrtla has boon re-
moved. They aro now In d condition to rocoivo
and euro for all tho cattle that may bo sent for
ward.
There is also d healthier feeling in Now York
consequent npon the advance In sterling OK
change. Certified checks, however, nro quoted
at 2 to por cont below par, which Is not un-
natural in view Of Tho fact tint 922, 100000 OF
>loan-ccrtihcatcs hayo bean issued. The slight
decline in stocks Ia accounted for in two wayB
~ An indisposition to speculate, and e,
sRloB OF collatoralH to mcet 1nattrcl
paper. Tho suspension of tho banking house
Of Northrup l. Chick Ia attributed to tho donanG
correspondence Tho majority Of those aro 1t
KauBns. Missouri, md oven aa far south III
Texas thoro arc but two or throo in tho fou1
Statoa Of Illinois, Iowa, Wisconsin, aud Mime
sota. Ono Of tue most encouraging aigna IT
New York IL TINT the dcmand for currency from
tho country banks las materially decreased
Ordera for money arc conntcrmnndet
ani1 oven groonbacks that have boon drawn GU
arc being returned. Now York ia beginning tt
trace tho Immediate cause of tho currency lock
up to Quo Of Jay Gould's stock corncra. Th
suspension of Patton t. Co., lry-goods firm, !
only temporary, occasionel by tho contraction
H., currency; 1t is Unlimited TINT tl,oro will bo
liberal policy Of extensions on any comn'orcia
paper that mny mood 1t. owing to tho trAnhien
r Btringonoy Of tho monoy market
Elsewhere throughout tho country thoro ar
tie samo evidences Of restoration of publ
conildcnce that aro to DO found in Now York al
Chicago. In Memphis, tho banks aro res''min
and tho cotton trade iB improving. Tho solid 3
Louis baukora hayo already begun to regret til
adoption Of tho policy Of issulng loan~coztlacatc'
: Tho notice OF voluntary liquidation by tho Unio
National pank, Of t]lia oily, has caused no SUI
pensions among ita country correspondent
q aa It was seayol might ho tho caae. Tho farm
era notos iu tho country banks fal'ing duo til
: first Of tho month aro boing mot promptly. I'll
outlook is brighter from every possible polut
T. | yiew,