, 1865-01-24
FINANCIAL, IND COMMERCIAL.
mQNETARY.

money market IL cotretpondinEIF quiet 4AE1a u
q fair demand for money By spectators, but inc
dftcount houses are atpre.ent engaged IN Strength
cning Themselves, and the bankers generally re-
fuse to discount any papcz except for strictly le-
cihmate purpose4 to their best customers. Tho
bank rssc Of discount remains stcady st 10 2 cent
. annum, but On the street 2@s = cent month Is
freely paid by ho1dera Of pork and grain.
Tho preseat decline in pork causes considerable
anxiety In monetary circles concerning Western
interests. Comparatively faw Of the packers here
or On the Illinois and Mississippi Rivers have sold
much Of their seasons packing, and to place 1t on
the market now would be ruinoua to a1l concern
cd. The packers generally bought their hosR at
prices averaging about 3200 = 100 Ds higher than
to-day's market, and they have nearly alt been e1-
tremo In their notions Of ''shor: crop" and con-
eequent high prices. Under this stale Of affairs,
even when MeEs PORK was In active demand at
$1,000 they refused to sell, and held 1t 5000
some even expecting to reallze $500 p hbl. This,
together with the high rates OF freight has kept
the great bulk Of the seasons packing In the
West, and 1t Is being carried now BY the banks,
much to their Inconvenience md deep anxiety. 10
.c,l ,t nrcsrnt nrtccs would be ruinous to the
packers and also to those who have advanced on
the product7 for any considerable amount
placed On the market would be sure to break 1t,
and send psices clear below the margins generally
put up.
The supply Of eastern exchange IL unusually
Hight, and the market is steady and hrm at dis
count to par buying, and premium selling. At
the morning session OF tho Stock Exchange,
$4,000 were sold at 5581-10 premium.
Gold opened in New York At 20li, md closed at
$50 D. H. at 193. The following ara the quotations
telegraphed to James Boyd, gold broker:
1h56 a01} if:9o.
G5s................Sel, S:9......:....:..::iss99
Here, the gold market Has weak with down.
ward tendency. At the morning session Of the
Stock Exchangsit 1t opened With sales At 7o0 and
ranged up to 202, but It Afterwards sold down to
1876 and closed with light demand At that<luota-
hon. Silver was dull, opening On tho Stock E1-
change 1t 1s9 and selltngon tha atreetdow As lor
II 1e5. There we're few or NO orders from tho East.
Government bonds were quiet. Fiye-Tweniea
were in demand ut 1os, with sellers at 1oaa. Tea
fi,ies were wanted at 1e1, md 1o2 w.s asked.
The bankers held meeting on Saturday eve
ming Last for the purpose Of discussing tho pro-
priety Of establishing Clearing House. Several
plans we're submitted, and after mature consldera-
ton It was resolved that an experiment would be
tried for few day8-the business to be transacted
temporarily ut the Northwestern National Bank,
the cf!ccrs Of which volunteered to attend to 1t.
Some Idea may be formed Of the plan by the fol-
loving instructions issued to bankers:
1T. Put the exchanges which you have against
eaeh banE IN sspa5ate snselops
thnrc}n ~ IT, mi, of t};e enyr1ono' FIJI m the
blank check list to correspond with your envel-
opes. Foot up the list and MI up ne bla1k A.
!;chea theieto WIN ne cate, name y JuMs JAM
.1cbe w. ~ e1ra ~ ncr Sont{nr n checF i'll
Fl. Strap your packages In one bundle and send
| In br your messenger to the Northwestern Ma.
tonai Bank, at or before = ncaock :; N; esch daJ.
Gu. oSau 1oIha h,;onc. e'o1~ a. 11' ~
4th. II ron arc debtor to thu Clearing House
| send IL the amount Of yeur balance at Of before
O'CLOCK 4. N.
~; Jon ~ ef1os @ ~ w q, .;saE ,,nSncG
m NJ 0'''''1'c0
9Th. In making up Packages oi money for set
t1cmcnt Of balances, It VIII fac1isafe business 20
E.rc them put up 90 tnaL ING pa!anGes can ~ Paaa
with Is little handling ol eingfe nll'a as possible
| We would recommend tEat pacEaSes DC put MP
| ns fo:ioTe:
| ~ and 1f-5I or 1oo per strap.
51 o1ao 70 ka1 STe-&D Pc Per 81 stsp: sqpa.~r,-,+
Tho ohnvr mt t' nm " in the nrd;aary one inch
etrsp. with datt, r.r1c Of bank md au,oant plain
| u Marked thereon II usu.l.
y desirable me anosc passages can 0: consql.
conyrniens. M a. - "AAo'''''' - - ~
This experiment went into effect today, all the