Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-05-22


WEEK ENDING THURSDAY.
May ii, 1874.
COMMERCIAL EPITOME- Trad,
has generally pursued a moderate
course during the past week. In s
few cases there have been considerable
change in prices, the result of special
influences, but in the general markets
steadiness has prevailed, especially in
the more important productions OF
home manufacture and industry.
The passage of new currency bill
in the L. S. Senate on Saturday last is
one Of the important features of the
week, although 1t is premature at this
time to say much in regard to the de-
tails Ill view OF the uncertainty as to
whether it will ultimately become q
law. Many of the provisions OF the
bill are similar to those of the banking
and currency bill of the House, and
the same objection is urged to the sec,
ton which provides for the withdrawal
of the reserves of National Banks from
the redemption cities to their OWL
vaults, that it would make a contrac-
ton at the money CO ntres
The near close of the spring shows
that the season has been unsatisfactory
in results, but the views of the north
ern press are that the year 1874 will
close with a good business account
Here's what thst leading Commercial
paper, the n. y. Shipping and Com,
n3e1'cioi List says
"Business improves little with the
advance of the season and the move
ment of the heavier class of commodi-
ties by the lakes, rivers and canals,
though it is still far below the usual
average at this period, it is fore
gone conclusion that the Spring sea-
son will close with an unsatisfactory
result due to the impairment of conf
dence and credits by the panics, sus-
pense as to the outcome of financial
legislatation by Congress, and over
production i'll some branches of indus
tN. We have it from undoubted aIl-
thority that there is heavy accumula-
ton of textile fabrics, both of cotton
and Wool, in the hands of manufacture
ers' agents, for many kinds of which it
difficult to obtain first cost. The pro-
duction has outgrown the wants of the
coutry. Stocks have not only been
accommodating for the last two
or three years, but the mIlls are
still adding to the accumulation;
there lare more sellers than buyers,
and under such circumstances business
must continue to be of an unsatisfacto-
ry character until the demand for goods
increases or the supply is diminished.
There is also an excess IL the produc-
ton of other important commodities,
with the consequence OF low and uLre-
prices. IL Europe q SINH
lar state Of affairs exists, thus contrib
uting to the depression here. Good
harvests and permanent check to in
tiation, however, will materially
change the aspect of affairs. The
earnings of the leading railroads Of
the country are increasing, which af
fords pretty good evidence that trade
and industry are revlvlng. The rail-
roads collect the crops and other pro-
ducts of the regions they traverse, and
distribute them for domestic consump-
ton or foreign use. They also show
the distribution of imported merchan-
disc and the current of travel. They
therefore represent average business
and progress. Though the panic found
them very much expanded, they have
stood up we'll uader it and shown great
energy. Enough of the
year has now elapsed to indicate the
whole, and the result is proof that 1874
will close with a goad account of ouf
vast and widely extended system.
There has been very little change in
the financial situation since our last
reference
In our local market the remarks
above may be strictly applied, "Busi-
ness has pursued a moderate course,
&c" Our naval store trade of the
week has commanded the attention of
buyers. Much Of that antagonistic
feeling which has prevailed between
the "bulls and bears" has subsided,
and the former faction have sustained
prices wei. The export movement
for the week has shown a decided fall
ing off IN the valuation, say $780,
The shipments for the week, both for
eign and domestic, were 12.30S bbls
rosin, 1897 casks spirits turpen:ine,
2S3 bales cotton, against 5000 Ibis
rosin, 2, 500 casks spirits tnrpentine
and 376 bales cotson for last week.
The following synopsis is written
Of the market. ROsIN-The Rosin
market has moved along slowly and
quietly, but the interest manifested
has been much the same as previously
reported. There is more steadiness
exhibited in the market and prices
have been sustained. SPIRITS TUR-
PENTINE-This article hes been more
steady and prices We're paid more
regularly than last week. CRUDE
IURPESTISE-No perceptihle change
has been seen in this article for several
weeks, The receipts not being equal
10 the demands, the market may be
quoted firm. TAR-The reduced receipts
able for the market, and prices were
ket was firm and advanced regularly
through the early part Of the week,
bit COZ the past few days the kilograms
have been unsatisfactory to buyers
and the movement has received & tenn
porary check. GRA3N--ThA grain mar
Ret has been firm with a slight advance
have arrived, which have met sale at
without alteration Of quotations.
PE.s-The market is quiet and dHll
and there is only a iiEhs demand.
ItDt t,i hiI"iS HGuttu tiuu W III
sci, al Fl % to 81 40 per bushel.
DIX GooDs~Thereh has been IL fair trade
in this line, and the market is quiet
steady and firm. The evidence accu-
INITIATES that prices have touched bot
tom, and there is a more confident
feeling that apytLi4.2 IN the line oi
cotton fabrics purchased Eow, will not
,.epreciate on the buyers hands, for ii
any further changes occur they will be
III The upward direction; iii fact, We
not:ca that already some makes OF fine
brG %n sieet,ngs are higher in New
/! York. With q Strong and an aa"anc
ing market for the raw material it vii
be dltficn.t to replace many cotior
goods at prices WHICH they now sell
SeasoGable dress goods are selling
well, AID i'll fact. nearly everything eA
cept woole goods meet a fair demant
and sone WQuleu fabrics like jean
oansinued u good request. MONEY
! In car local money market there la
beet an ebuuda supply of money
! The Banks are in good suppl,
| and are accommodating their Gus
! toners at the usual rates.
/ The chief featnrea = the market eut
the CHANGES Of prices of produce AM