Year: 1872

The general trade Of the city during the
week has been generally quiet, though, rule quota
tons have been tending downward yet cotton has ruled
higher and excited In dry goods circles much duness
prevailed particularly toward the close. Few ont of
town buyers have In the market and the local buy
ers are only taking such small selections viii keep up
their assortmenls, while full trade in Sum
mer goods of the thinner descriptions has
NOT been done, by reason Of the con-
tnued cool weather. There IS considerable less de-
mand for foreign fabrics and importers are clearing ont
their stocks goods at loss The current inn
ports light and the preponderance Of goods goes into
bond The Tariff bill has finally passed Congress; the
amendment authorizing the payment OF Customs duties
one-thiGd in legaLtenders having been eliminated from
the original draft Of the bill.


In financial circles the great event during
the early part OF the week was the vote
OF the United States Senate approving the sup
Elemental clause TO the Washington Treaty though as
It's effects not OF decided or eyentful nature IN
any direction so the subsequent nonacceptance Of the
by the British Cabinet failed 10 inpart any
influence speculation If anything the first flush Of


acceptance OF the clause by Senate TO cause
a rush to sell long stocks on the support thus OBJ
tanned 10 the market aud under this pressure
the market weakened several points, though
obversely the later market was strong. The
movement gold has been moderate within the range
OF 1l3ia1. the market having been unaffected by any
of the varying phases OF the International dispute On
the whole the premium been strong, finding support


in the demand for shipment although it may be modified
eventually by the European demand for American
securities. That this inquiry will come principally from
the English market is quite probable inasmuch as the
German markets drugged with home securities such
the shares Of industrial companies, banks, &c.,


which have into life since the French indemnity
payments gave 10 Germany new lease Of funds. The
banks in Germany based strong foundations,
having large surplus They now hold e35S60OO0 OF
coin and bullion against a2OSs0OO0 in July 1870, show
ing accumulation Of e15As0OOO since the late war;
This amounts to about 80 per cent Of their liabilities
The Bank Of Prussia alone holds sl3OOOOOO coin
and bullion than in July, 1870 it having s27OOOOO0
with liabilities of sOOOOO Its required reserve is 80
per cent, about R47OOOOO. The action OF the Bank
OF England, on Thursday in reducing the minimum rate
Of discount per had little effect upon the
price Of gold H however indicated the probability that
the financial situation abroad not OF a nature TO
cause any apprehension to the future. The monetary
situation has been practically unchanged during the
week, and the supply Offering has been abundant TO
meet every demand The generally accepted street rate
was per cent, though frequently lower rates
eepted among the brokers' The currency has
been unmporaDt, but it is quite likely that the drain
which usually follows the opening Of Spring navigation
will be felt. We are also approaching the time
when the demand to the wool clip must set in
IL Is generally conceded that the requirements this
season Tor that purpose will be much larger than ord
nary ny reason OF the advance In heeces In the lnte
rior Government bonds have been strong throughout
the week. although the high prices attained on Monday
and Tuesday have not In all instances been mly
sustained In state bonds dealings have been confined
TO small circle Of operators at the close
were barely supported while the south Carolnas
were weak under the probability that the interest will


not be PAID ON the bonds at least before S the Lessa
ture having made no provision therefor.


The speculation IN stocks has been specially actVe
and only moderate business has been done Ia even the
leading speculatiyes At the outset the market was
weak and lower by virtue Of the sales 10 realize "ie
prices were held upon the assurance that our ofeiSh
relations were about TO he OF -amioaDle nature
As the week advanced there began 10 be ndosohS tha
some OF the heavy weights were ABOUT taxing
a hand in for little lively turn IN
the market before the stagnatloh 80 n THIS
manifested itself in Lake shore ana The vanderbilt
specalties except Harlem) "hen sprung ,h'o "cu'y
and stronVtb North wcstern also took a higher posi-
ton on the ascensve scale t appearing that the great
e1 Erie Director was engaged in tho movement. Erie