Cincinnati daily press. [volume] (Cincinnati [Ohio]) 1860-1862, 1861-05-16

The Bank return shows that the heavy
mercantile payments which ran off on the
4th Of May have very considerably reduced
the aggregate Of Loans and Discounts. The
Banks are not able to fill mp their ines with
the right sort of Securities, and a further
reduction in next weeks report is not i'm
probable. After that however, some further
new Loans to the Government will probably
come into the account The Banks were
never better able to accommodate the
Treasury b their present showing. The
Specie Average is a rising one, on account
Of the delivery today Of $755,0OO from
California.
Tuesdays New York Tribune remarks, re-
specting Mondays Monetary Market;
The movement in Exchange is limited, but
we quote the market as firm at 106@l06%
for first class bankers bills. We hear, how
ever, of Southern bills of hitherto undoubted
security as being offered at 1929, while the
general class of Northern Commercial Bills
are sold at l04@105.
There is no important change in the Money
Market, but we observe greater ease in the
negotiation Of first class business Paper and
Call Loans with unexceptional collstevals.
Money is abundant, but confidence is weak,
and the market for other signatures is at q
| standstill, and little business is reported
among the note brokers. Great liherality
is shown by the banks to their customers;
and few offerings considered first-class are
thrown out. The Bank Statement shows
great strength.
The Specie average has increased nearly
nine and ~three-quarters of a million du-
ring the past week, and no falling off
of Deposits is noticed, while the Loans
have declined one million and one half.
Large remittances of Bullion are daily
expected from Europe, and q Money
plethora must exist during the Summer
months, as the suspension OF business will
be general and capitalists will seek in vain
for copper 60ttomed investments-exeept at
low rates.
From this ~factitis supposed that the Banks
will be large takers of the new Loan of the
Government, the advertisement of which
appears in another column. This proposal
is made under the authority of the act of
February 8, 1861, and the Stock Issued on
such terms only as may be satisfactory to the
Secretary, as the Government reserves the
right to decline bids which are not consid-
cred advantageous. SThe country Banks
have also given liberal and patriotic responses
to the applications of the Committee of the
Chamber of Commerce, who nave had this
subject matter in charge, and the whole Loan
will probably be taken.
The last-received number Of the Chicago
ECening Journal says of Finances there;
The Currency question, which has been
exciting the attention of most people lately,
has, as far as the Banks are concerned, been
settled for the present, by their signing a
legal document, which binds them to receive
all the Currency during the war which is
not now on the "Discredited list"
At the Banks the rate for Exchange con-
tinues nominal at 10 per cent. premium. On
the street the rate is l5@l7 per cent. Dis
credited Currency has nearly all disappeared;
40 cents on the dollar is the usual price, but
45@50 cents is paid for ~favorite Banks. Gold
is quiet and nominal at lO@ls per cent.
In New Orleans business remains stag
nant, and nothing of consequence is doing in
Money or Exchange.