Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-06-12
COMMERCIAL EPITOME-There

lu0 I1lc Weth, tuOuSu LIale Stlil uuOFc
slowly. The chief feature in financis
circles during the week has been tn
appointment of new Secretary of tn
Treasury. General Benz. Fl. Bristow
of Kentucky, is the man selected b.
the President to take charge of th
most import1n ent department of tn
Government. BristOw is a lawyer o
good ability and he was a soldier dur
ing the war on the Federal side ant
Won the good opinions of his superio
officers, but he is unknown in financia
circles and if he has the necessar.
qualifications for his new position ht
has yet to show it.
Ex-Secretary Richardson leaves TIN
Treasury with none to regret him.
He has done what it was said tina
President Buchanan did for his prede
cessors-made their administration
respectable. We could scarcely OBJ
tain more incompetent man thar
Richardson, and therefore a change /!
welcome, although it is one which i:
evidently an experiment instead o.
being as it ought to be an appointment
which every one would recognize, al
the first glance, as one eminently fit tt
be made.
The currency legislation in Congress
has made little progress. The House
rejected the Senate substitute for its
own bill and asked for committee OF
conference, which committee have not
agreed upon any report as yet, and il
is every day becoming less probable
that harmony can be brought out of
the discOrdant elements on this ques-
ton. The only thing which it is i'm
portant for Congress to do is to estab-
lish by law the maximum amount of
Legal notes, and this can be done by a
bill of q dozen words or less, or even
a Joint resolution would probably
effect the same result. This matter
ought not to be left to the discretion
of any one man, to play fast and loose
with the volume of legal tender cur
rency, and whatever else is omitted by
Congress this ought not to be.
In our local market trade has moved
slowly. There are no new or impor-
tant features, and business generally
seems to be dropping this early In
the season into its usual summer apathy
and dizziness. The export trade of the
week has fallen Off The valuation of
our foreign and coastwise shipments
will not exceed 800, 600. The shipments
during the week of the principal arti-
Giles reach total of 271 bales cotton, s.
S27 casks spirits turpentine, II, 100 bbls
rosin, 574 bbls crude turpentine and
$50 bbls tar. The following synopsis
is written OF the market. RosIN-The
rosin market continues to be unsettled
with few new features. There are two
distinct factions i'll the market at
present, one of which is trying to sus-
tain prices under certain rules and
for delivery of strained,
while the other side being unable to
meet these requirements have pressed
their offerings on the market so that
prices have further receded 10 cents.
SPIRITS TURPEHTTNE-There has been
a fair demand for export, and a large
of casks were taken for ship
ment. The market has, however, I'M
der a dullness which has existed at the
North declined and at the close we
note no improved feeling. CRUDE
from the influences
which have been deemed sufficient to
suppress the market, there has been
no feature. Prices haze stood up well
under these influences, and we have
at the close to report the article steady
and prices maintained. TARA fair
for export has prevailed.
There were no enquiries beyond actual
requirements and the bulk of sales
were to supply cargoes loading. Prices
remain the same rs last week. COTTON
A dull and almost entirely nominal
market we have had during the week.
At the close we see no Improvement.
GRAIN The grain market has been
duller than usual this week. Corn
There was no excess of stock and the
receipts were not large, but the de-
mands were light and large arrivals
are daily expected. OATs-The stock
is light as also the receipts,
but the two combined are amply large
to meet the wants. PEAs-There was
a slight advance of peas since our last.
The demand, however, is light, and
the receipts are amply large to supply
the trade. ROUGH RICE is wanted and
will sell at 81 25 to 81 40 p bushel.
DRY GooDs-The volume of bust
ness has been comparative light dur
ing the week, but it is proba-
bly, as large as could reasonably
be expected, and the demand is
chiefly in orders, although some mer-
ing second purchases or replenish-
ing stocks with such articles as they
require for the current trade. The
general features of the market are I'M
changed, except as regards American,
Allen and Sprague prints, large lines
Of which have been sold i'll New York
at 81 cents. These consisted chiefly of
patterns of light colors,
and were sold out rather than carry
them over another season. The more
salable styles of other marks are firm
and generally pretty closely sold up,
but anything of which there is an
overstock it is probable will follow the
lead of those above mentioned. Plain
brown and bleached goods are steady
and generally firm. MoNEY-The
banks have continued to gain in
means, while the demand for money
has not been larger than usual. The
market is sluggish and rates of inter
est are unchanged.
The chief features of the market and
the changes of prices of produce and
for the week ending were
as follows:
COTTON-Them market has remained
Without an1matlOu luTOuSuOuG Tue
week. The offerings have been indeed
small and there has been lack of buy
ers. The fact is that the receipts
have reduced to sucha small fraction,
that no inducements are offered to
buyers to purchase, except the most
ordinary grades fof Which there is
very little demand. Quotations have
been reduced during the week about
! to cent q tb. The sales for the
week embrace about $50 bales at fig
ures ranging from IL to 161 cents y ID.
The receipts for the week were as fol-
lows
FRIDAY. ~ O1ioo.
Saturday .-.-:.':.-.' of
Monday -..-.......... 10
tuesday .-.-' ~
Wednesday ............,... 10
Thursday. .....~...-..--.. ~
Total bales,
against 161 bales for last week.
The general Cotton movement for
the week was as follows : 1t appears
that the total receipts for the seven days
oil Mt