The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-11-12
TELEGRAMS,
COMMERCIAL
MONEY MARKET


movement over last week, but now that
disturbing elements Of heated political
campaign is over the mercantile COM
munity may be expected to settle down
70 business with renewed vigor. It seems
to be thesentiment ofthe business public
that tie change wrought in the political
com lexion viii of no i'll effect. vet a
sweeping change is always re-
garded for a time With more or
less Of anxiety, touching its effect
Upon the fiscal policy of the cnun-
try. The result of the election is pretty
generally regarded as a pointed intims-
ton that the people have become weary
of paying the war taxes for half genera
sion after the war is over, and having q
large portion OF the revenue diverted to
illegitImate purposes. The majority in
the present Congress have now an op-
portunity of making record on tariff
and internal tax quotations which will
go far to regain for themselves
the confidence Of the country, which the
ell ections Of Tuesday would seem to indi-
cate, has been to large extent lost.
The money market is still stringent,
| owing, in part, it is said, to the Iusgipu-
ation with view of depressing stocks.
The available supply of loaned funds,
| however, is small and rot evenly distrib-
uted, as While q few banks have sur
plus, most Of them have no more than
sufficient to supply the wants of their
own customers.
Yesterday an order was received a.
tee sub-treasury. from Secretary Folger.
authorizing the redemption, without re-.
bate, of interest bearing bonds embraced
in any call to the amount of 5000, GOO,
in each week until otherwise ordered.
This order caused bad feeling, and its
| effect will be to release large sum of
money from the treasury, and will tend
to restore the market to normal condi-
tons. The banks will from this time
be less severely taxed for currency facil-
itete 10 move the cops, but on the CON-
trary, will soon be in possession Of q
part Of the money sent to the west and
south during the past few weeks.
The tone Of the general merchandise
market is for the most part weak aud
some staple imported commodities are
selling at a loss to importers, owing tG
excessive supplies. Breadstuffs have
been subject TO little change, except tc
the advance in corn, though wheat i!
firm and white -four. Hog products art
turn desrer. Refined petroleum lie il
active and .nominally firm, while crude
certificates declined and recovered
Leather is quiet and unchanged. Cotton
both ypot and futures, are lower Raw
sugar is quiet and steady, refined il
moderate request, at slightly easie
prices. Coffee dull and weak, q, fur be
decline. Tea is stagnsnt at private sale
buyers supplying their wants who'll,
through the auction room. Rice is dull
prices quiet. Pig iron dull, with easie
tendency. Tin weak and lower. Ccppa
quiet and steady. Lead dull and weak
In the product of California there i8 nc
much doing. Wool generally quiet
with prices easier sales fifty bales o
spring at %, 10000 pounds ditto 271z
10000 pounds secured spring 65. Hide
) fairly active at fall prices. Hops con
tinue to advance, choice state havini
raised as high as Us pounds; variou
bitter drugs which are in deman,
as substitute for hops, including
auassis schips and chsmmomile flowers
r have also advanced. It is of iuteres
! to note that demand is better 70
. foreign account. Quicksilver quiet, 991
q 40. Borax fair demand and firm
Crude, sperm and whale oils, better &c
: mand; sales at New Bedford, l,775 bar
rels, sperm 105.550 barrels, sperm II
barrels, Humpback private. Dire
apples, peaches and plums are slow {
sale at prices demanded,
New York. IL Money closed
governments irregular; stocks veal
Western Union 805s; Quicksilver, 81
e Pacific, 3813; Wells, Fargo, 129; Ne
i York Central, 13l; Erie, 3S3l; Psnsmt
167; Denver s. r. &. 81; Union Pacif
I 1861; bonds, lis; Central Pacific, s.
: bonds, ia; Sutro, 4.