Year: 1872

The week lust drawn 60 q close has been
quite an eventful the prominent and notable fea


lures being the extraordinary speculation In Ere the
costumes OF money, the Generalization OF foreign cX
| change and the steadinrss Of gold and United states
bonds In commercial circles the monetary strineency
has been less sensiby felt and merchants have not as


rue been compelled make any considerable sacrifices


TO keep their engagements. The general trade OF the
city has been fair though the continued duration OF cold
weather has tended to somewhat check the brskness OF
the Spring trade which last tweek presented such proms


Ing signsof activity. However hear of few complaints
in any direction The financial situation, though not


materially changed for the better presents a the close
rather a less gloomy outlook the liberal payments OF
gold into the banks during the week by the Treasury af
fording latteriDg augmentation OF Their reserves
though not reflected in this weeks statement which VIII


do good service in backing up their preparations for adj


usng the usual first Of April settlements, while the III
flow OF foreign capital through the immense Ere bus


coming concurrenty will be apt tO modify the cf
feet OF the outflow from this center sun II II hardly
within the range of natural probabilities that money VIII
he perrnanently easy before tie middle Of April
and the aspect Is quite n grave one 10 those
who are compelled to go 10 tho street for
accommodations The range Of rates to tie best
class Of borrowers has been per cent in currency 10


per cent in con though the general rate to the
stock houses has been per cent currency plus bonus
Of 32 paid to the lender. In many instances llG and
even high has been paid, though an easier feeling
the close with return 10 tue
The natural tighness Of money has been aggravated y
artificial means Thus lenders would put their balances
IN the market the last moment relying upon the EN-
barrassments Of brokers who had taken longer
lines OF stocks than they could conveniently
look out for 10 Obtain these commissions above
the legal rate The policy OF such operations
among our capitalists miy well DC questioned.
The gold market has been without any particular
feature and the price has been lower, at extreme
range Of IO1 and 1a The market can scarcely he sad
10 have been directly influenced by the foreign ex
changes though the operating 10 unsetc sterling
had greater less influence on gold The Continental
markets have been strong, in London. American
England keeps its rate of discount unaltored, at per
cent the bullion Of the bank being down only mere
matter Of $4,000. Tie reopening Of rome i'm
portant negotiations Of American bonds, checked by


the Alabama discussion, and likely TO Dc arranged for
shortly Il IL believed will operate TO prevent 80 heavy
an export of specie during the season as our foreign
trade balances had given reason to fear Government
bonds have held their wonderfully well In view Of
hard money and lower god but business has not been
active. The foreign bankers, particularly those well
informed in Continental affairs have been quietly pick
Ing up such they could without advancing quota
tions feature Of tho market being the difficulty Of
getting round lots without iDsttutng an immediate rise
IN price 30 scarce are the available bonds the street


The stock market has given way to the speculation In
Erie which has inonOpolzed the attention of the street
fully much as last wek though on Taursda snd snee