THE NEW YORK COTTON MARKET FOR THE MONTH ENDING AUGUST 21. PREPARED FOR THE MERCHANTS' MAGAZINE BY UHLHORN & FREDERICKSON, BROKERS, 148 PEARL STREET, NEW YORK. Transactions in cotton, notwithstanding our light stock, have during the past month been to a fair extent. The extreme dry weather has much interfered with the operations of our owa spinners, many of whom have been running short time in consequence of the want of water. For Liverpool the business continues of a mixed character, while to the various continental ports a larger portion of the month's business has been directed. Prices have varied but little either here or on the other side, but the tendency on the whole has been against buyers. The market here for the week ending July 24th was extremely active. The sales were estimated at 13,000 bales. Speculators purchased freely, and the market closed firmly at the following quotations:- PRICES ADOPTED JULY 24TH FOR THE FOLLOWING QUALITIES: Under the influence of foreign advices received during the week ending July 31st, our market lost the buoyancy of the previous week, and on all grades up to middling a decline of ¿c. per lb. was submitted to. Holders, however, did not offer freely, and the small amount on sale enabled them to show a firmness "if they had it not." The week's sales were estimated at 6,500 bales, at the annexed figures: PRICES ADOPted July 31 FOR THE FOLLOWING QUALITIES: and heavy aspect, with some irre The week following the market assumed a dull gularity in the few sales made as regards prices. The week's sales were estimated at 4,500 bales, and including some purchases made in trausitu. A better supply was offered without, however, inducing operations, and the market closed quietly at the following quotations: FRICES ADOPTED AUGUST 7TH FOR THE FOLLOWING VARIETIES: The transactions for the week ending August 14th continued on a limited scale; but prices, owing to a continental demand for the better grades, showed more firmaess at the close of the week, with sales of 6,000 bales. There was but little done for Liverpool and our own spinners. The market closed steady at rates annexed :— PRICES ADOPTED AUGUST 14TH FOR THE FOLLOWING QUALITIES:— The market for the week ending August 21st continued firm; the sales, however, did not exceed 5,000 bales-excluding a list of 900 boxes of Texas cotton in Boston sold here. Holders, believing that their stocks will be needed before the arrival of the new crop, hesitate in offering, and buyers pause before making new engagements, believing that the prospects of the growing crop warrant a lower range of prices. The quantity taken by our own manufacturers during the past month is smaller than usual, and we think they must be free purchasers before long. The manufactured article, however, has lessened in value, and with their other engagements, together with the scarcity of money, will cause many to purchase lightly for some time. PRICES ADOPTED AUGUST 21ST FOR THE FOLLOWING QUALITIES: Two bales of the new crop were received at New Orleans from Texas on the 25th July, being fifteen days earlier than last year. They were sold at the faucy price of 11c. per lb., the classification being about middling. Weight of the two bales, 882 lbs. Thirteen bales new crop were received at New Orleans up to 12th August. At Mobile and Savannah a few bales of the new crop have been received; they are represented to be of good color and staple. Two bales of new cotton were received here per Cahawba, from Mobile, on the 17th August-one consigned to Mr. Charles Dellinger, and one to Messrs. Brewer & Caldwell, and classed "middling" and "good middling," somewhat cut in ginning, but of good color. Thirteen and thirteen-and-ahalf cents per lb. were paid for them-folly prices-and shipped per Atlantic to Liverpool. Last year the two first bales were received here on the 22d August from Charleston, classed "fair," and sold at 13c. per lb. JOURNAL OF BANKING, CURRENCY, AND FINANCE. THE BANK OF MONTREAL IN 1854. The annual general meeting of the Bank of Montreal was held at Montreal on the 5th of June. The report submitted stated, that after paying 7 per cent dividend, and providing for other heavy charges (a forgery resulting in a loss of £2,000 at the Brantford agency,) there had been added £65,103 to the rest, which was thus raised to £171,320. The report submitted stated that, assuming the operations of the bank will meet with fair success during the ensuing six months, the rest would be increased to two hundred thousand pounds by December, paying, besides, the usual half-yearly dividend of 34 per cent. After that period the directors expect to pay of one per cent dividend, and continue adding to the rest until it reaches £250,000, when the whole profits may be safely divided within the shape of increased dividends, or by oc casional bonus. Though the directors had been as liberal in their discounts as circumstances would warrant, they had not been able to satisfy all the applications that had been made to them for perfectly legitimate business purposes. The trade of the country is annually augmenting in extent and value; it is therefore intended to apply to the legislature for permission to farther increase the capital stock by £500,000, to be called up within a period not exceeding five years. The original capital was £750,000, to which new capital, amounting to £242,760, was not long ago added. The sum of £1,250 was voted to the Hon. P. McGill, for his valuable services as president during the past year. CONDITION OF THE BANKS OF CHARLESTON. We have received from an anonymous correspondent a pamphlet, embracing the proceedings (and reports,) at the Annual Meeting of the Stockholders of the Bank of Charleston, South Carolina, held at their Banking House on Monday, July 10th, 1854. The report of the President and Directors of the Bank, presents a favorable aspect of the affairs of that Institution. It is accompanied by the usual statement of the condition of the Bank on the 30th of June, 1854. It appears by the Profit and Loss account that the net profits of the year's business, after deducting the current expenses, amount to $536,232; from which two semi annual dividends, of 5 per cent each, have been declared, amounting to $316,020, leaving, as reserve profits to be carried to the credit of the Contingent Fund account, the sum of $20,152. The cashier's statement, (a condensed summary of the immediate liabilities and resources,) exhibits an excess of available resources over immediate liabilities amounting to $1,109,014. table the cent column, to accommodate it to the pages of the Merchants' Magazine. The tabular statement which follows, shows the monthly condition of the Bank, in its several departments, for the year. We have omitted in this MONTHLY CONDITION OF THE BANK OF CHARLESTON, S. C., FROM THE 30TH OF JUNE, 1853, TO THE 30TH OF JUNE, 1854, INCLUSIVE. 1853. 1854. July. August. September. October. November. December. January. February. March. April. May. June. 3,160,800 3,160,800 3,160,800 3,160,800 3,160,800 3,160,800 3,160,800 3,160,800 3,169,800 3,160,800 3,160,800 3,160,800 1,987,807 1,888,192 1,908,680 1,914,737 2,180,763 2,391,483 2,142,409 2,093,946 1,815,892 1,697.572 1,446,802 1,376,094 233,520 257,520 209,492 364,676 428,666 457,762 855,714 851,629 723,260 553,565 333,906 365,070 386.213 410,396 642,055 508,802 491,235 481,284 518,028 544,924 509,372 500,560 1,082,082 1,321,666 775,502 855,664 996,906 672,686 572,801 622,031 611,189 568,757 544,238 488,630 302,051 820,175 6,879,897 6,666,944 6,574,468 6,475,062 6,797,631 7,055,529 7,260,135 7,517,718 6,697,289 6,647,864 6,434,960 6,108,607 503,438 417,695 281,315 371,500 358,580 318,756 35,704 35,704 35,704 35,704 35,704 85.704 127,063 96,179 46,331 87,677 39.258 86,395 1,040,056 596,146 730,298 815,203 479,218 448,522 305,487 341.434 287,526 280,476 339.463 35,704 35,704 35,704 35,704 35,704 82,992 61,234 105,229 82.385 44,409 546,541 1,300,761 580,092 715.430 611,750 700,646 295,577 35,704 97,124 1,982,711 2,058,324 2,102,674 2,154,633 2,255,492 2,317,638 2,285,725 2.223,107 2.085,910 2,067,397 2,105,872 2,092,814 709,296 830,533 676.836 86,819 150.228 331.549 1,683,143 1,837,905 1,854,459 2,123.445 2,612,993 2,611,942 2,623,657 2,537,380 2,391,104 2,204,957 2,043,142 1,400,277 119,548 119,548 168,734 168,734 168,734 185,566 653.185 635,185 656,185 656.185 659,185 6359,185 16,748 21,812 21,926 35,137 38,234 60,269 492,847 174,574 364,718 379,604 443,546 446,830 177,938 164,666 163,038 165.288 165,288 164,791 651,248 58,002 651,248 651,248 651,248 665,372 665,372 27,607 32,721 65,369 80,410 209,268 6,879,897 6,666,944 6,574,468 6,475,062 6,797,631 7,055,529 7,260,135 7,517,718 6,697,289 6,647,861 6,531,960 6,108,607 Specie on hand.. Real Estate.... Bills of other Banks. Bal. due from Banks, &c. DOMESTIC EXCHANGES IN THE UNITED STATES. QUOTATIONS OF DOMESTIC EXCHANGES, JULY 18T AND 8TH, 1854, RECEIVED AT THE TREASURY DEPARTMENT FROM ASSISTANT TREASURERS AND DEPOSITARIES. Upon Boston. At Boston..... New York Richmond Mobile .... Buffalo Jeffersonville New York. 1-10 dis........... No sale.. Philadelphia. Par to prem. Par Baltimore. Washington. dis... ¿ dis. dis........ Par to prem.. Par to + dis.. to dis.................. Par to prem... dis...... 1 to 1 dis......... to dis. to 1 dis. to 2 prem....... to 2 prem. 1 prem..... 1 prem.. (10th June.). Sixty days' drafts on London, at New York, 1004; Sixty days' drafts on Paris, at New York, 5.111; 8th July quotation. DEPOSITS IN THE UNITED STATES TREASURY. The following table, derived from the Economist, will show the amount at the several depositories, subject to the draft of the United States Treasury on the 26th of June, being the close of each fiscal year, after paying the interest on national debt:— Net am't subj't to draft $13,004,092 88 $15,960,735 94 $22,896,306 76 $28,888,812 73 ASSAY OF AUSTRALIAN GOLD. E. DAVY, Assay Master at Melbourne, has made an experimental assay of Australian gold. It shows an extraordinary difference in value, being no less than 11s. 2d. per ounce between the highest and lowest samples. The following is the official return:— SIX PARCELS OF GOLD MELTED AND ASSAYED-TOTAL QUANTITY 64 oz. 13 Dwтs. 6. grs. Parcel. No. 1.. No. 2. Value per cz. oz. dwt. gr. 1 8 8 14 10 16 Fineness. 23 30-32 23 23-32 23 24 32 20 25-32 22 15-32 Total value. £5 19 9 ... 2 18 5 64 13 6 No. 6.... £261 18 2 Average value per oz., £4 18.; government charge, 1 o. 10 dwts.; value £6 1s. 6d. |