Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-03-20
MARKETS,
CGSTMEpC CAJ EDTTNSfE nv;


week, though complaint Of "dull times
is frequently heard. The weather has
been cold and rainy furnishing very
little indication OF the arrival Of q
spring month. There is little or no
change IN the general commercial sit
nation. The Spring trade drags along
slowly, buyers ''ofmerchandise' still adj
herring to the hand to mouth policy.
The Commercial lis: in speaking of
the general outlook and the reasons
why business is so backward saws :
"This, it is well understood, is a
consequence Of the dilatory course of
Congress on the financial question, and
| that body viii be reminded of its dere-
lic:ion of duty by public meeting of
the merchants of this city next week.
AS the case now stands, business men
have no reliable basis for calculations,
and are therefor reluctant to push their
| enterprises Those who would buy
arc ia: urally apprehensive that values
will recede and those who would sell
cannot satisfy themselves that within a
given time values viii not increase.
! The importer is uncertain whether he
Will have to add more or less to his in
voice figures, and the jobber for kim
| dred reason waits for the fixing of the
currency at some standard of value on
which he can rely. Manufacturers do
not know how much 10 produce for a
market Oh which no reliance is to be
placed, and SO the currency is respon-
sible for their comparative inactivity.
The qualifications of the retail trade
throughout the country obey, of course,
the same logical law. Meanwhile,
money continues to accumulate at all
Il, 4 o.
| of the lack Of profitable employment
for IT, 1t is hoped that the merchants
meeting will have the effect to incite
of currency, and thus enable the Spring
whatever that anything is to be done
towards the restoration of the currency
to sound basis, but even contraction
would be far better than the prevail
ing suspense.
The question of why ''trade should
improve is also receiving the atten-
ton Of the Commercial press. We
can set forth no argument for Viii
min gfon, because We are governed en-
ti1ely by the course of trade in the
northern cities, but in order that our
readers may know the opinion of the
press why it 'tshould improve" we give
place to the following article on the
subject from the Cincinnati Con,mer-
cioI ReriCtc It. Price Current
In the last issue of the Price Cur
rent some of the causes of the depres-
sion in business all over the country
were noticed. and the remedy pointed
out. 1t says:
eve may now consider what reasons
there are why the extremely cautious
policy which has characterized the
trade of the country during the last
few months should be relaxed, at least
to moderate degree. In the first
place, stocks of goods in the country
have run down to Il low point. Mer-
chants have bought from hand to
mouth in nearly all lines of business,
and even if they continue this policy
their requirements will force them to
make more frequent purchases, be-
cause they have not SO much stock to
draw upon as they had when they
commenced it. In the second place,
the uncertainty Of what will be the
final action OF Congress on the curren-
cy question has had such depressing
effect that any thing that may be done
is not far distant when navigation by
the lakes and canal will be opened,
and cheaper transportation will cause
a more rapid movement of produce to
market, aud the vast capital locked up
in grain, pork and cotton will be re-
leased. and come into active employ
ment in the business Of the country.
It may be that producers and holders
Of produce will not realize az much as
they have expected, but TO market it
must 90, for the means to raise new
crops is required, and Europe stands
ready to take orr surplus of all of
these articles ut some price"
In our'local market the general ten
dency of trade is improving but, rs we
have mentioned above, as our market
is governed entirely by the leading
Northern markets, we cannot expect
any very large improvement i'll trade
until tho question is settled ard the
Northern markets locomc regular
again.
The naval store trade OF the week
has been more active than usual and
there was IL larger amount of tranSac-
lions in the market, and also an in
crease in the export movement. The
exports, both foreign and domestic,
for the week were 1O,12G bbls. rosin,
1913 casks spirits ttlrpentine, 1913 bales
cotton, against 4, go bbls. rOsin, 2, l15
casks spirits turpentine and ,329 bales
cotton for last week. The lnlk of the
rosin shipments were direct to the
united Kingdom, but the cotton and
spirits turpentlne were mostly export
ed to domestic ports. kosln has been
in better demand this week and there
was large amount changed hands at
an advance on previous rates. SPIRITS
III IL
the close to-day is held higher CRUDE
TURpENTINE and TAR have remained
very quiet and steady. CorToN-Ihert
has also been IN improvement Ill cot
ton during the week and quotations
have been advanced about to l Cts.
GRAIN-Thc grain market has been
also tirmcr. Corn has advanced for
cargoes ( cents. Oats are steady
and unchanged. Peas arc quiet
and in light demand. Dry GOODS
There has been a decided I'M
provement i'll the volume of business
during the last few days, many cOun-
try merchants making their spring
purchases and the fine weather con
tributing to the disposition to buy
seasonable fabrics. The tone of the
market for cotton fabrics is rather ca
sier, in sympathy with the market for
the raw material, and some bleached
goods are little lower, while the ten
dency on other brands is IN the same
direction. Prints, pcrcales and lawns
are meeting good demand. Dress
goods are selling well. Wooden goods
are more active, cassimeres and Jeans
especially SO. MoSEY-lhe money
market has been comfortably easy dur
ing the past week The deposits at
our banks continue to increase, but
the flow of currency seems to be to-
ward the country at present. and there
isnot so much available currency as there
was week or so ago, but the supply
is sufficiently large to meet the de-
mands of customers.
The changes in prices AMI the chief
| features of the market for the week
ending to-day, is reviewed as follows:
COTTON-The cotton market dur
| ing the current week under review has
been active and considerable transac-
IL l1n off