The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-08-29


Prepared Weekly by j. jay Knor d Co., Bankers
PhcniS Bsock 81. anthony Street. 81. Paul.
There has been little change in the st. Paul Money
Market the past week. The Bankers discount for their
deposers only at three per cent per month Exchange
growing more scarce and the Board Of Brokers have
advanced the selling rate New York 4 per cent All
parties confident that the crops harvesting will
make money easy, and payments prompt, for
the fall business.
1t the rule Of the Board Of Brokers report at their
regular meetings all protested paper and also to charg
the interest specified "sfter maturity in all
lying past date.
Wequote:
Exchange on n. York. u per cent. prem. * per cent.
b. Louis, ~
Galena,
Chicago, n
Land Warrants, sos, 1908, 81 ,oa. 1905 % cts. {.
Duncan, Sherman Co.. Foreign Fx'ge. . 05to the
Nebraska, Tennessee North Carolina Georgia and In
diana currency, with few exceptions uncurrent and
bought by US at the lowest rates.
The following Banks have recently been discredited:
Warwick Bank Rhode Island
American Bank, Trenton, New Jersey.
City Bank Cincinnati, Ohio.
City Bank, Sandusky Ohio.
From Hunts Merchants Magazine we quote the follow.
ing cheerful article:
"Almost simultaneously with the discovery that the
comet giving the slip the conviction that the
disastrous commercial revolution which many pre-
diced would also be postponed These great causes
Of alarm removed and the world may breathe
freely during the dogd Seriously The panic
listened to the peace Of the country
II they gifted with the spirit Of inspiration their
prophecies might be valuable but under the circumsan-
ces their uterances croakngs, destitute Of
Importance the death watch other insect voices
which alarm the superstous vulgar. During the whole
of the Spring the weather furnished exhaustess
for evil forbodlngs IT was too wet or too dry, and
cold that the stiIted vegetation would
Now, as We write how aughngy the fields give the lie
to these predictions!
Grass which is probably the most valuable crop pro.
duced in this country is abundant almost every State
Wheas decidedly good and the crop above the
age In every SECTION Of the Country Indian Corn Rye
be "ery abundant. The Sugar crop of Texas has been
injured by the drouth but Louisiana the cane Is doing
well and the prospect of large yields daily widening
Tobacco has been injured to extent but appearan
ces are once more in fayoyo Of the planter.
We recaptulate theae facts, not simply to awaken
general thankfuness for the abundance promised as
reward for agricultural industry to vndcate the
hopeful spirit which has characterized this raview at e
time that many of our cotemDorares could nothing
but impending disasters and troubles thckening
and to rebuke those whose vocation appears to be
to excite alarm and distrust.
Money has continued scarce throughout all parts of
the INTERIOR and the tendency of the has
towarks New York whence the demand has been active
for Europe But thus far there has been and
the st'ngency has only produced wholesome effect in
checking undue speculation"
D. H. Farlin Co.'s excellent Chicago Bank Note Re.
porter says;-
sin this bankers discounting lightly as the
regular rates, per cent Outside the supply of first
class paper is SMALL and readily taken to TX per
cent. pr month Second grade is plenty at az to
per cent.
Currency continues easy. Gold and Eastern in good
demand.
Exchange Is still scarce, and in large demand at ad-
vanced rates. This week is somewhat easier with
no indication of any permanent Improvement In supply
The New York Times Of the Fist says:
1.-THE Money Market to-day quite active with the
Discount Brokers time negotiations while the demand
from the Stock Brokers comparatively moderate
Dearer rates obtain by y and per cent and first class
paper than last week. and the applications at Bank
generally pretty full But there is feeling Of distrust
in financial circles outside the Stock Exchange and the
export demand for Gold continues active, is confident
from last is thst the managers have
capital of their own, and fewer heavy balances of the
country banks to employ and this will be found no
mean advantage in moving the crops this Fall"
fhe Boston Post says:
"Money is rather dull at per cent the street for
the few favorable that called first class -
Nothing Is done below g. but of the commissioners
refusing pay that price at their counting houses.
We should quote 10 to IL per cent the
for money in State Street, II Obliged give
statement In a single sentence. The banks doing a
good deal, at the rates given in last New York
| funds have recently been less abundant"