New-York tribune., 1885-08-17

The local money market ut the Stock Exchange was
shade harder during last week because OF more active
speculation, "a frequent changing OF loans and an
entire absence OF borrowing demand Tor stocks Rates
Tor call loans every day ranged from TO per cent
but the average for the week probably was above ll2
per cent Outside Of the sock Exchange the monetary
situation Is unchanged the mercantile demand does
not improve and the working OF the loans with banks
that do ODly mercantile business Indicates decreasing
demand An the domestic exchanges rule fayOraby TO
New-York showing that as yet the interior Il not
snterabundauce of idle money. Tue latest quotations
for NewYork checks The places named as ioiiows
Savannah, lsa4 premium Chafieston, par 10 . o
ana S2aS2 so for bank Chicago 25 cent premium IT.
Louis IS ccnts premium; Boston 1Ooi2 cents premium
The feature Of the foreign exchange ~ irkrt l. con
tnued nrnnOss; slight demand quickly advances the
rates and when that is supplied the quotations return TO
nominal n2ures. Thus on thursday rates were al
yanred FOR sterling and after the closing Of
terdays mails rates were reduced aud closed. for bus-
the basis Of - 80 ana 81 e12 respectively Tor
There generally is newspaper disposition to take a
hopeful view OF the commercial and mercantile
situations. And In some departments there IS harden
lng Of values. Cotton goods which have been severely
depressed are commanding better prices ths hey hlh
aud feeling that prices nave Touched bottom
to extent encourages frecr purchases for the
future Hence there Il more animation Ia The dry
been much reduced and that at the moment production
and consumption in closer ratio to each other than
oncsfIon is not The price. but this: is there
demand sufficient TO warrant the employment OF seven
distribution Of merchandise has opened with fair
spirit ard 1t ia better that It should be 40 moderated as
rather that stimulated activity should suddenly
end with the iiTs1 round Of purchases
Ouiside of mercantile trade ~ IN hard 10 discover the
signs OF Improvement. Our experts since July J. 81 N
dtatedby Inc movements az NewYork, have been run
ming below those Of 1884 decrease al NewIOrk for six
weeks 2G7 OO0 and low prices do not stimulate tue
movement. During the last week the price of wheat
declined cents. and that In the fare OF receipts
at the Western points for the week OF Only 22C99gO
COG bushels. Yet the demand for export limited
as IL has been at any time, because the English
markets declined prOpOrtiOnatcly with in
remarkable nae weather for the maturity
and harvesting OF their home crop Corn declined about
% cents and FOR late options 2a cents and oats about
] cent in sympathy with wheat. Provisions also were
lowcr-pork 81 i2 and lard l7le cents The Eastward
movement for the week was only lOOsOOO bushels NJ
though ID come from Chicago 90 New YORK by
lake canal al y cents, against 23lTliO bushels
for the OF 1ss4 OF other cereals the receipts and
nents the Western points aid not materially vary
from those OF the same week Of 1884.
The receipts aad shipments OF wheat corn ana oats AZ
tleprncpal western points OF accumulation for four
weeks compare as follows