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Commercial

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Parent Issue
Day
14
Month
July
Year
1871
Copyright
Public Domain
OCR Text

New Yobk, July 11. Bmwneas is generally quict, and unlt-ss an Irish " corner ' is established to-morrow, our city promises to fall into unusual quictncsa. Hony of our lcadmg tradors are taking the present opportunity to indulge in vacatiüu, which the over-worked American sliould treat himsclf to more often than he does. Money continúes easy at 3 por cent. for 30 days from banks, and l@li on cali from capitalista. In fact money ia the biggest drug in the market, aud it is nn anomalous fact that while America is the largest borrower in the world, money has been boirowed in her commercial metropolis thi year chcapcr than it has ever been known in the world before, that is, 1 per oent. Gold is l Mtöl ,Líc lower than a week ago, while the report that Secretary üoutwell is about to throw the 5 per cent. lonn on the Kuropcan marketT produces a vory uneasy feeling. Sterling exchange remaina at 110}. The cjuotation of government securitiea are barely maintained. There is no deinand from abroad, and not likely to b; if Boutwell does as intimated. The dry goods market is resting quiet, with manufacturers of cotton goods keeping back tbeir stocks for higher and buycrs holding off for lower pnces. "Wool is quiet but tirm, with the clip pretty generally passcd beyond the reach of flrst hamU The epeculators, fortunately, hold less than an average amount of wool this year but that a tussel botween thuin and manufacturen is yet to come ia inevitable. The decisión, howcver, lies in great part with the people. By their buying euch goods only aa is absolutely uecossary those parasites on the Ünancial body -wool npeculators- may be defeatod in their nefnrious objoct. Breadutuffs, dull. The rectíipts of üour are heavy and priceo steadily de rlining. The stock of wheat in wtirehouae is abou7 400,000 bu. Corn is more steady. Oat are Uaï2c higher, Michigan being worth 72@73c. Eggs add buttr (western) are in botter demand, the fonner 20, the latter 20(a23. Hops are in fair export demand, with holdertt firm and counting upon the variablo news froin Europo as weiglung in favor of a poor erop there. All groccriee, except ngnrs, are quiet- standard haring axlvnnced to 12?. Provisiona are flrmer twlay, but on the wholo weak. Detroit, July 12. Sloney mattern continue about tus last reported- first class paper beiug discounted at the banks at 7(38 per cent. Business is generally quiet, but pnces un all descriptions of merchandise are quite stendy. ín hardware, tin has advancod 25c per box and shot 25c por b:ig. Dry goode are firm ut a elight advance on a large part of the list, and dealera fecl oonfldent that the fall tradtí will cause furthcr ad vances. The leading branda of prmt romain as thpy were a weok ayo, but the medium weights, which hatl not then advanced have now been marked up to correspond. ïhegrooery market il moderntely activo and prices gcneraïly Btcady. A. sugar is now flrin at ! i ;,. Otherwiise there i no change worth mention. Produce i u Httlu stiffer, H"iir exr.ptrd. Best white whcat brandt now sellinff at 6.507.00. Wheat declinetï to 1.38 lor extra, 1.37 for Trtadwell, 1.30 for No. 1 white, .S2 tor nnjbcr, nnd 1.20 for ropulur. LÏght recoipte, however, creuted a botter demand, and it now stands : Extrn 1,41, Trcadwell 1.40, No. 1 white 137, amber 1.36, and regular 1.30. Corn steady at Cl. Oata 55Uf$$6 V Hutter 16@17K. Kggs 17. Old potatoes, T.VwiH ; new l.OOivl.12. Hopslafi. Tuliow "$ï l4. Small fruits Ijlcnty. Jluuey 2CKg25 per lb.

Article

Subjects
Old News
Michigan Argus