Review of the Market
Since last steamer business has been moderate, and we have no important changes to notice.
AGRICULTURAL IMPLEMENTS, of some kinds, are becoming rather plenty. Such however, as are suitable for the coming harvest are in good demand.
BREAD STUFFS are lower. Considerable sales of Haxall and Gallego four have been made at $8, and Chile about the same. There has, however, sprung up a speculative demand for the former, and it now being in few hands, we presume a rise must follow. Large quantities of Chile have come to market damaged on the voyage, and being in bad condition has had a very depressing effect on the market for a long time.
BOOTS AND SHOES have not varied since last review.
BRICKS.—The demand is very good, and will so continue; the demand being fully equal to the supply, both of our own manufacture and imported.
BLANKETS—Sell at 25 to 40 per cent advance on fair charged goods.
COFFEE.—Not much doing; prices keep about the same.
CEMENT.—Stock increasing.
CANDLES.—No change to notice.
COALS—Have rather receded, but as the market is very moderately supplied, and all the ports between this and Panama bare, it looks as though the market would rally.
CLOTHING.—Prices are well sustained, and good desirable invoices bring from 50 to 75 per c. advance. CIGARS.—Prices about the same, with an overstock of common.
DRY GOODS.—A good deal of activity is manifest for desirable articles.
DRUGS AND MEDICINES.—Articles in this line remain about the same.
GRAIN.—Arrivals heavy, and the growing crop extremely fine and large.
HARDWARE.—A fair demand.
HAY—Is lower and our crop heavy.
LIQUORS.—Hardly as firm.
LEATHER.—The demand rather increases.
LUMBER.—The demand is far, and prices pretty good. A mill has been put in successful operation at Humbolt, that will turn out daily from 50,000 to 70,000 feet, which must have an effect on all rough lumber.
METALS.—A good deal is doing, but prices fluctuate greatly, according to the supply and demand for particular kinds.
MOLASSES.—Held quite firmly.
NAILS.—The supply is kept up. The smaller sizes are not very plenty.
OILS.--This article has been dull; the demand small.
PAINTS AND PAINT OILS.—A fair demand.
STATIONERY.—A good retail demand.
SUGARS.—Stock increasing. No imports of consequence.
SPICES.—Sales for export to the Atlantic ports.
SOAP.—A good stock.
TOBACCO.—Market well supplied.
TEAS.—Prices steady.
WINES.—A little firmer.
MISCELLANEOUS ARTICLES—Such as Pails, Carts, Wagons, Wheelbarrows, &c., are doing well; while the stock of Brooms is so large they do not pay the freight.
WAGES.—Seaman—s $30 to $70 per month; Laborers, $4 to $5 per day; Carpenters—, $7 to $8 per day; Workers in Machinery, $8 to $10 per day.
| EXCHANGE | |
| Sterling (60 ds) | --1/2 47 |
| France (60 ds) | 4 80 @ 4 85 |
| Bankers' bills, sight, Atlantic cities | 3 per ct. prem. |
| Valparaiso | nom. |
| Mexico | nom |
| Gold Dust, clean | $17 @ 17.25 |
| STOCKS | |
| State 3 Per Cents | 7 @ 8 per ct. less principal and interest |
| Do 7 Per Cents | 72 @ 73 |
| Do 12 Per Cents (according when issued) | 70 @ 72 |
| Do War Warrants | 40 @ 42 |
| Do Warrants | 67-1/2 @ 68-1/2 |
| City 10 Per Cent Bonds | 71 @ 72 |
| City 3 Per Cent Scrip | 107 @ 125 |
| City Comptroller's Warrants | 5 @ 10 Per c. dis. |
| County Script (according when issued) | 62 @ 80 |
| Central Wharf shares | 85 @ 87-1/2 |
| Broadway Wharf shares | 65 @ 70 |
| Pacific Wharf shares | 82-1/2 @ 85 |
Since our last review, the Legislature have passed bills for the funding of $600,000 of the State Civil Fund. Also, the War Fund; and the floating debt of the country. Also, authorizing the receiving of the unfunded State Warrants for the payment of the School Fund.
There is no provision for the payment of the interest on the War bonds, which will cause them to be unsaleable, until the U.S. provides for their liquidation.
The floating debt of the country is small with plenty of ability, and inasmuch as the warrants bear 10 per cent interest, and of funded but 7 per cent, we doubt whether much will be funded, when both the payment is deferred and the interest decreased.
Matters are going on very well, but if we should judge from the number of ships on the way, that the imports will be excessive and losses ensue.