Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-11-07

conducting business. This, OF course,
means lower prices for most kinds Of
merchandise, and corresponding re-
duction in the wages of labor. For
| several years past the cost of carrying
| on business has been out of all pro-
| portion to the profits, and the time has
arrived when change must be made,
| and until it is made it is vain to hope
! for resumption of specie payments,
and restoration of commerce and in
dustry to their normal condition. Al
though the present stagnation bears
with pressing severity upon n vast
number of people, it is clear that the
legitimate business interests of the
country will, with prudent manage
ment, be all the better in the end.
Capital which has, for many years,
been diverted from It's natural and
proper channels to fill the NAV of vo-
racious speculation, and which has lat
terly been hoard Il, already shows
signs OF returning. And when conf
dence becomes fully restored, it will
be many years before the banking re-
sources will I've used as basis of credit
for impecunious stock brokers.
COTTON-There has been con-
tinued and regular downward move
ment in Cotton during the week. The
lower prices have attracted moder-
ately increased attention from buyers,
and compared with last week, there has
been more liberal movement, but
even this week the transactions have
been materially restricted by the diff
Guilty in making exchanges and by the
scarcity of currency. To-day, the mar
ket is steadier but is SO irregular and
unsettled, that It is almost impossible
to give quotations, i'll fact, there can
hardly be any established prices at
present. The receipts at our port for
the week were as follows: Friday.
$40 bales Saturday, ia bales Mon
day, 1S5 bales Tuesday, 313 bales :;
339 bales Thursday, 252
bales. Total 1855 bales against |
], 400 bales for last week. The sales |
for the week, foot up SIT bales at fig |
ures ranging from II to IA cents. |
The Financial Chroaicle speaking of
the depression Of the market says
This depression, like the decline of
previous weeks, is the outgrowth of |
the financial arrangements which have
ibis week manifested themselves more
have, during the week,
hbeAS AuI tilci p1 III tIiC iiicN Iiiitiit
or shorter time, many OF the print
Mills shutting up entirely, while ono of
our most prominnt houses in that de-
,artment has failed These facts have
ended to reduce decidedly the spin
ling demand for cotton and to take
lway all disposition to speculate in it,
While the difficulty of obtaining money
With which to carry cotton in store has
the pressure to sell. Ship
,ers were also embarrassed by dull ac-
counts from abroad end by the scar
'ity of freight room.
The general cotton movement for
he week was as follows: It appears
hat the total receipts for the seven days
AVE reached JOS. 039 bales against
90, 452 bales last week, 7S,756 bales
he previous week and IS, 746 bales
hree weeks since, making the total
eceipts since the first of September,
S73, 47D,07S bales against G46,9S
'ales for the same period of 1872,
howing a decrease since September
1873, OF lie, 9ll bales. The exports
Of the week ending, reach total of
2 1914 bales, OF which 40 $50 were to
treat Britain, 1854 to France, and
,521 to the rest of the Continent,
7hile the stocks "a made mp are now
As, $50 bales. We quote the market
ull and nominal at the following figUes:
I