Year: 1874

Without apv very considerableincrease in the gen.


ral trade of the city, more hopeful feeling seems TO


exist as to the future and the increase OF loans by
the city banks, shown by to-days statement,
would seem to confirm the very prevalent idea that


usiness is really beginning TO improve. In the line
of breadstuffs there has been good export demand
during the week for -four, but the heavy receipts
and excellent crop prospects have depressed prces
TO the extent of about % cents per barrel.
Wheat is coming forward ID large supply
and ia 10 a less extent affected by the
same influences which have depressed Hour.
Indian corn, with heavy export demand,
has improved or cents per bushel. The dry goods
trade is reported fairly active for this season of the
xear and merchants are becoming more hopeful
concerning the prospects of the Fall trade. The
tendency in provisions has been TO lower prices,
while tho reverse is true In regard to groceries The
limited States bond market has been generally quet


and the feature of the week has been decline In
The IS of 1881, growing out OF the secret sale OF
S5OO0OOO by the late Secretary, and an additional
million by the new Secretary-a system OF funding
(Which is very displeasing to our American bankers.
and. as it is generally believed, not profitable
10 the Treasury Whether the last million
sFas negotiated by Judge Richardson before his
retirement from the Treasury Department, or by
MIR Secretary Bristow, we are unable to state; but
IL by the latter it will hardly be regarded as bril-
liant commencement on the part of the new Finance
Minister There has been very little movement In
Southern state bonds, and the business has been
mainly confined to Tennessees In railway mort
cages we have had only moderate business, mainly
in the bonds of the older and wellestabshed roads.
Without animation in the dealings gold has ranged
from 1i0i TO 1lt the lower price prevailing at the
commencement of the week and the higher
at the close. Foreign exchange has been quiet on
"a moderate business. Money continues abundant
per cent on call and Al to per cent for first
class commercial paper, the supply of loanable funds
continuing greatly of the demand, with nc
prospect of an immediate change in this condition
of affairs The railway and miscellaneous share
market has been noticeable mainly for dulness the
small amount of business transacted, the narrow
range of fluctuations and, strange as 1t may seem
for the influence upon prices OF the action OF Con
gress upon the Currency bill. In view Of the posi-
lions taken by the President In bis late veto
message and in the Jones memorandum, how
Ut could be possible for stock operator
I,resuming him to be endowed with average sense,
10 suppose that the adoption By Congress or the
failure of Congress to adopt the so-caled Compro'
mise Currency bill should necessarily affect the
stock market, is incomprehensible to the common
snind. Yet the brokers watched the Washington
wires with much interest, and talked as though il
was matter Of the utmost importance whether or
not the House should confirm the action Of the Sen
ate IN the adoption of the Committees report. There
Is no doubt that stocks weIe bought and sold with
reference TO the effect Of Congressional action upon
this matter Indeed the general decline n prices at
the Stock Exchange on the announcement
that the House Of Representatives had failed to
TO the Conference report. shows quite clearly what
was running IN the minds Of those operators To
those who comprehend the political situation. the
disagreement of the two branches Of Congress "a not
Rt all surprising 1t has been thought better for the
harmony of 1.-The party that the bill be lest by dis


agreement Of the two Houses than that it be passed
pnd vetoed by the President. With the exception of
Erie which is Influenced mainly by the London
market the fluctuations in stocks during tho week