The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1859-03-05
FINANCIAL AND COMMERCIAL.

The large emigration up the Missouri River, enrou;e
for the new gold mines has induced the steamboat men,
running in that trade, into combination f5r
the purpose OF controlling and nonopoizng the entire
trade oftha river during the ensuing season. joint
stock company under the srie;es; equations. has been
organized with the view OF either driving of all boat.
that shall attempt in this trade without first en-
rolling themselves in the combination forcing them
unite thernselv+s vito the company The movement
creating much dissatisfaction the and cities
along the river and it is doubtful whether the scheme
be made to operate.
The Louis Republican does not consider the pros
pee. Q: the spring trade very encouraging to that
city 1t that the farmers not full handed,
and that the high prices Of produce al vii! a.
most entirely of shipments to the eastward in that
all balances in trade with the Atlantic sea board
will haye be with cash, which it is feared will
bare heavily the supply OF money during the spring.
It's however agreed among those who pretend to be
posted that there will he competency Tor healthy i'm
portation. The Inconvenience, therefore, which may
arise from OF capital viii e than counter
balanced by restraining cr;ravgant purchases by
heavy dealers.
The s.. Lous Democrat, in whose money articles
have much confidence, is explicit this subject
and predicts great sringency in the money market Of
that city. It says:
indebtedness must he paid Fast and with but lit
Ie produce 10 20 forward. save which already
been valued Tie tendency Of Sight Exceange is up
ward, and per cent viii soon he the current rate in
this city. Gold, in the absent OF bills, viii forward,
and present system of deprecated currency,
of Missouri bank paper well Illinois, this paper
must h. sent home to realize coin which must go east m
stead produce such a of things must, OF ne
cessity, contraction-hcnce tighter money mar
/ ket may be locked for in the future
This also indicates banks for coin. So
they had better ortty themselves for the attack We
would reccomend them pursue the adopted by
the Raleigh banks when beset by certain con-munger
| from Chicago, several weeks since.
of the St Louis banks for the last week
shows decrease Sl12 9l5 in circulation
in specie, during the week Specie hand sl63,56G.
! In New York the money market continues easy and
the supply abundant. The offerings Of money call in
the open market continues in of the demand
some lenders Offering specified time, ranging from
Is to 60 days at 81 pr ct. Gail loans per
offered in abundance and some leading houses have
difficulty in borrowing at A. The Banks generally
maintain higher figures but So pr. may be regarded
the ruling rates
The Bullion Bank of New York organized Fri
dry 9th ul,. 1t has II drsctors each owning 00oo
stock Capital one million.
The Baltimore and Ohio, Pennsylvania Central, New
York Central, and the New York and Erie Railroads
held convention last weed at the st. Nicholas, in
Y City, to reconcile certain objections made by the Pa
Central the spulatons of the combination entered
into by these roads lost fall After considerable discus
sion they agreed reduction Of 10 per cent on al
freight, from eastern ports to points west. ST. Louis
included in the agreement. Passengers fare remains
the before.
The L. S. mail Illinois, which arrived at New
York the Goth ut brought in l2SS, 600 in gold from
California.
The certainty OF the failure of the homestead bill in
the senate has given impulse to real estate and
Land Warrants again being quoted as blocking up.
advance, however, has yet taken place. though the
indications are that
In Chicago Eastern Exchange is firm at IL; discount
10 pr Ct, with plenty of money for all legitimate bust
ness purposes Gold = with few sales. Street rates
nominal at 1a2 pr. ct. month"; with limited transac
tions.
.sThe Chicago Loan and Trust Co." is the title OF
mammo tn institution chartered by our recent egsla
ture The capital stock 81 900 G00 with the privilege
of increasing it to O0O The books opened
Monday last and up to Thursday some $35o00O stock
had been subscribed Ii. A. Tucker, Esq., seems to be
the head and from. of the and will, doubt
run her with his peculiar skill and tyranny. Let
small fry tremble when this regulator is put in notion
We last week stated that the bill of the banks
Minnis taken at par in Chicago Wewere mis-.
informed They held at from to pr. ct. discount
on account of the inefciency Of the banking laws OF
that state.
Our merchants preparing for their spring purchase.