Year: 1872

The events of the week under review, in


financial circles have fraught with interesting


details and with exciting features than Its imme


datc predecessor In trade circles there has been gen
orally quiet tone all around without any notable Incl


cents while in cotton quite active market re-


ported at times, particularly early in the week. in


quence of advance in Liverpool though this drew out


but small amounts from our home ports, the accumua-


tiOns forming quite important influence none


tary outlook This can scarcely be pronounced pleas


ant one, in view Of the expanded condition OF the


banks, and their largely-reduccd banking surplus.


But little money is coming from the interior,


and in the nature Of present circumstances 1t is idle to


expect any important remitances for some time Large


amounts arc tied up in cotton much is required in


Chicago and yet the banks are not making any pre-


paratons for the first of April settlements The Treasury


contraction policy is not calculated to make matters any


better although the Treasury balance in the Home Office


replenished yesterday by the transfer OF about


$1,000 from the Department at Washington. During


the early days Of the week money comfortably


at per cent, the majority OF borrowers being supplied


that figure, with some negotiations temporarily


at lower rates; subsequently it gravtated coward


higher rates, and the full legal rate paid and in


addition slight bonus to the lender, per cent in gold


being very This sudden Tightening gave rise


TO suspicious that efforts in motion to make the


market artihciay stringent, being made of the


port that late prominent bull operator was out Of


his large holdings and that accordingly he would not in


terfere to place quetus upon such attempts. In view


the reduced condition of the banks and their indspo


sition TO accommodate Wallst. Spectators (althOugh
they are liberal with the merchans), 1t may be stated
that supplies street brokers have as rule from
outside lenders the Canada bank agencies furnishing
large amounts Of funds. Indeed, from well in
formed sources we learn that the foreign capt.
tai employed here enormous. because pay
ing larger interest rates than the Continent. This
to be the increase from year year. and even
duru tha Franc po-Cp Uar I'm tha Ala
bama imbroglio there any percepble recall OF IT,
With the present favorable reports from Europe and the
buoyancy and advance Of American bonds in London
since the apparent removal OF all difficulties likely to
grow out of the Washington Treaty question, 1t would
not be surprising TO accession TO
the English capital here. The rapid
appreciation of our National credit abroad must be a
Of delight TO every loyal citizen the active
demand for the bonds OF the United States during the
past week should afford convincing evidence that with
proper and judico1s management at Washington the
whole debt could be funded, and, IL desirable placed
abroad at much lower ratio OF interest Tho inquiry
during tho entire week from foreign buyers has been
very large, while tho biddings among domestic mr.
thasers have been very brisk and lively The business
has run chiefly In the newest descriptions, and a
characteristic OF the market has been the diff.
Guilty Of obtaining round lots without advancing
prices, so limited So the supply available. Tho
entire list has advanced materially as shown
In the weekly comparative table Gold has been dull
and steady within the unusually range of ITO and
jIOa The extraordinary line Of imports and the unpre
cedented demand for cor to pay duties late with the
no, oyerabundant amount OF available gold, lgould
seem to operate In favor of higher premium Or the
other hard the disbursements OF the TreaGury on esied
bands and the buoyancy Of our bonds in London. form
III opposing influence. that between these contendng
clements the market remains In its steady condition II
impossible 20 tell with any degree OF certainty what
amount Of gold will be likely TO come out OF the Treasury
IN these bonds but their presentation and redemption
will probably extend over a long period the case
With the bonds whose interest ceased on the frat OF last
december


The stock market has been active and excited. and
esnerae struggle has been pproTess all the week be-
weenthe two opposing factions On!he whole. the bulls


re In the ascendency at tho close though In some OF tho
peealtieAthe bears seem 10 vc.wrested the victory