Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-09-11
COMMERCIAL FPITOME-There

, gradual increase of activity in thu
= leading articles OF subsistence, and a.
abiding faith among the greater ma
; jority of merchants and traders in
- season OF fair prosperity. On the gen
. eral condition and Prospects Of bust
. ness the following ;.b - article is copied
from the ttucj,G:tutG Price Current
It says :
at is new nearly a year since thf
y whole business OF the country was
q p ostrated by panic which had It's
I ostensible origin in the discrediting OF
q vast amount of railroad securities,
but which had other causes as collat.
cral if not principal, Of which i is not
: necessary tor our present purpose to
, speak. For Xix or eight moths bust
hess mon Nero unable to prosecute
trade upon the usual basis, fer when
they made purchases it was without
assurance that goods would not depre-
clate IL value upon their hands. This
made them cautious, and restricted
trade to narrow limits. Then it was
that the capacity Of our manufactures
Tor producing almost every kind Of
domestic goods was seen to be far in
excess Of the reduced demand, and
caution was enforced upon all industri-
al enterprises. Railroad building hay
ing ceased, Il vast amount of labor
was thrown out OF employment to seek
it III other channels.
But while nearly ali branches Of
trade suffered from tha elects of the
panic the me st of them were sound at
bottom, and the agricultural interests
were il good condition. Thus there
was basis for Il recupe1 alton which
has seldom If ever been found to exist
! I,,t
currency of the country was not de-
preciated in the least, and when the
foolish mania for holding it was
over, business began to assume its nOr-
NAL condition. People with all their
economy could not always refrain from
buying the necessities Of life, and with
the promise of good crops this year
| and the setting of the currency Gues-
| ton came more confidence and re-
vival of business III nearly every de-
prtmcut of trade, SO that tie volume
CT business during Tie Summer has
been exceptionally large, and it has
been done generally upon basis
which affords a reasonable profit.
We now enter the auturn season with
unusually favorable circumstances
The harrests are abundant, the earth
teerling with its yield OF vegetables,
fruit, grain, cotton, etc with the sin
gle exception Of tobacco. Labor has
found employment, and i!n c0nsunp-
ton Of manufactured goods is fast as
sumlEg its usual proportions. Capital
not finding employment at high rates
III railroad enterprises, or being timid |
about such investments, Is seeking bor- |
rOwers i'll commercial aud Manufacture |
ing circles at unusually Tow rates of |
interest. The low prices current for
labor and raw materials generally, aud
cheapness Of money, enables nanufac- !
tUrers to sell - slch low prices as will /
stimulate consumption, and the abund- !
ance of brcadstuI5 Will keep down the |
cost of living, SO that labor can live as
we'll as before On its reduced wages. |
We think therefore that there is good
reason to anticipate 4 steady growth of
trade, tranquil money market and to
an unususl degree an absence of dis
turblng speculation.
In our local market thcte has been
a steady Increase Of business, which !
has been perceptibie on almost all
sides. Oar wholesale dry goods mer-
chants are receiving large stocks daily,
and we have noticed an unusual large
number Of country buyers in the city
during the week. Shipments have like
wise been large, and our steamships
railroad lines are carrying large quaint |
ties Of frelghts to the interior.
The naval store and cotton trade OF
the week was moderately satisfactory.
\ weakness has prevailed in the former
articles, but cotton has been in de- |
mand and ali the receipts have met with
purchasers at tatr prices. New cotton
has began to arrive i'll mallquantities, !
and III Il few weeks longer we may OK
pect 81 fair amount daily.
The shipments for the week We're as
follows: 1892 casks spirits turpentine,
II, 262 bbls rosin anl l0I bales cotton,
against 2S, 1U7 bbls rosin, 6,355 casks |
spirits turpentine and l9I bales cetton
for last week,
Foreign ireights remain fair at is Cd
for rosin and Is Ga for for spirits tur-
pentlne.
The course OF or local money mar
ket has been tending Il little toward "A
reduction n the supply of loanahie
funds, the demands Tor discount cx
c9edng the current ,l;..urities Of
paper, while the receipts OF currency
throughout mercantile ciIannel5 AMI
otherwise has been short of the ship
nltlits to the country, SO that deposits
have run down somewhat; still there
is not mulch animation in business,
and while the money market is tirmer
in tn g. rates of discount rrmaic I'M
changed.
The chief features 81 the market and |
the changes of prices OF produce and |
merchandise for tic week ending we're |
Il, follows:
COIFOE-During the week the
vulun" OF business in this line has !
~howi. 1 der5d",l iu-rcnst,. New cotton !
mas h' ..Hm 10 arriNe quite IL. Ely, and |
during the week some - bales have !
been received anu>> o.d. I!le man et !
has ruled stead, ".tnu't5 experiencing |.
interruption "a q'iJt@tivla.
lire receipts iur ;lIr week |
80 bales, against 30 bales for last |
week, SNOW Il drrr"a-e OF Ill bales !
The exports for the week, 10i bales, |
against i3i bales for last week, show |
also decreaee of 81 tles The stock |
in yard Is - bales, against 232 ba'es |
for last week.
The general Cotton movement for
the week wa, IS follows: It appears
that the tot.1 receipts for the seven days
have reached 5,656 bales, against
$3.50 bales last week, $3.50 bales
the previous week and 4,05i bales
three weeks since, making tho total
receipts since the first of September,
1873, 1855 bales, against $3.50
bales for the same perioI of 1872
10, showing a decrease SINCE September
/, 1873, Of $500 bales. The exports
for the week ending, reach q total of
$500 bales, of which 5,Gt3 were to
| Great Dritiau, IL to France. and
| none to the rest Of the Continent,
| while the stocks as made up arc now
! 100, 270 bales. r--s
| The following are the official nomi-
nal quotations to-day:
low Ordinary. cents
| Ordinary. ....-.......1la