The Portland daily press., 1884-03-27
FINANCIAL AND COMMERCIAL


Our money man skipped last week for the simple
reason that there nothing to say. The local"
invent items; the political writer can stir up the
"other side;' but the money tice deals only in
solemn facts
The state of trade continues very dull but in spite
Of decreased business, failures are less numerous:
those who are unfortunate among the smalle r
dealers. The reduction of freghts among trunk
lines while it shows at fl st apparent profit fer
the roads at the reduced rates may stimulate ship
ments of grain to the seabo ard and in the end help
out business To show the uncertain fate of the great
operations, we notice the failure of one party in
New York for only $50 "a was once the lead
ing spirit in the Pacific mail steamers and in the
Panama railroad, and who was worth his millions
But Jay Gould and he butted against one another
and the result is as quoted. Not by any that
Gould is always right; but the markets and corpora
tions fully under control of manipulators taat
all life Is taken out of legitimate transactions.
1t is yet impossible to tell the effect of the re-
cent disa ters in .ba. Several leading business
houses have failed; gold sells at 126 premium; sew
eral banks are involved and some have suspended
The burdensome tax Of the Spanish government on
sugar and the growing production of bee sugar in
Euro Fe are prime causes OF the trouble
The bonds of the State of Main are held at very
high figures and rarely appear. Tennessee, on the
other hand. through its dishonor is trying to fund
its debt. About three and one half u ili,ns have
been presented and funded at fifty cents into new
bond drawing three per cent, while some twenty
five millions are withheld by parties who prefer to
wait, ping for better terms
The reciprocity treaty with Mexico will help our
trade with that rapidly advancing nation.
The general business situation does not revive
hoped for Cereals in excessive supply and prices
i
But there is still all around an air of uncertainty
and depression that upon the whole is oppressive.
Spe lie shipments after one week of luie are about
TO be resumed fully five millions being predicted as
the shipment of is week. AS we have previously
noticed, this process cannot long continue without
most serious results.
The affairs of the Portland & Ogdensburg Rail-
road has absorbed much of the local attention. It
seems to be conceded by al parties that receiver
is necessity, and that with improved road-bed the
future will develop good results for all classes of
creditors.
Review of Portland Wholesale Market.
FOR THE WEEK ENDING March &c.
Flour is quiet with easier tendency excepting
best grades, which are scarce anu firmly held at
previous prices; our quotations revised. Pork
is quiet and easy in price without any particular
change. Lard is in moderate demand and little
weak. Raisns strong and generally higher. Rio
Coffee is " a lower, while mild graoes steady
and unchanged. Considerable change will be no.
ticed in Moasses. In Dry Fish large Shore Cod and
small Bank have declined. No change In Drugs,
sc. Beef is steady and firm Sugar quiet with an
easy tendency. Fresh Shore Fish sold to-day at
11c sfb by the cargo Fresh Beef quiet and steady.
we quote sides s91oc " ID, hind quarters at 1l@
12c. fores at 1890, rounds with TANKS at 999lac,
rounds at 101a@l1c, rumps and loins at l3916c,
rumps 139141sc. loins Is917c. rattles 6961se,
backs 1920. chucks &c, short rib cuts at 12@l3c.
Mutton is firm at 991oc y ID.