The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-09-21
FINANCE AND TRADE.


while the dry goods trade is fairly pros
porous. Capital is in good demand for
temporary use, and rates of interest
have advanced. Call loans at New
York are mostly made on acceptable
stock collaterals ut Z per cent, and
upon government securities at 6 per
cent, with exceptional transactions in
large sums at per cent. There is but
little doing in business paper The
best signatures at short date are taken
at per cent per annum discount. The
increased rates for money are ascribed
to the large balance of greenbacks
! in the Treasury. The New York
Commercial says that the banks having
lost their redundancy of bank currency,
their remittances to the interior have TO
be made in larger proportion In legal
tenders, a feature of much importance,
considering that the weight of the de-
mand fer moving the Western crops has
yet to come. The effect of the contrac-
ton of over S45,000,000 in compound
and plain legal-tenders within the last
three months is also beginning to make
itself felt; while it is uncertain whether
the government may not redeem the
October compounds in preference TO
substituting them by the } per cent GER
tificates. In view of the expectation
entertained in some quarters that money
must work closer yet, an effort is being
made to induce the Secretary of the
Treasury TO purchase 7-3O notes in or
der to give ease to the market.
The Tribune remarks that recently a
past due 80 of $1,000 was presented
for payment at the Sub-Treasury. In
stead of redeeming it, the presenter was
told that 10y taking it to Hatch, Foote
Il Co. per cent. premium could be had,
and a card of that house, bearing also
| in writing the treasury clerks name,
was given, we are told, to the holder of
the 40 note, who got at the place
named Sl0l0. 1t is quite important TO
know whether there are any favored
houses who can fund the balance of these
notes now that the months grace upon
them has expired to the public, and
also quite important to know why Off
GERS of the Treasury do not take at par
matured debt when offered, instead of
sending the public to brokers' offices to
sell it at premium.
Repeated inquiries have been made
to the Treasurer of the United States,
from various parts of the country, with
regard to the difference in the engrav-
iugs on the S. National Bank notes; able
Judges in several instances being unable
TO decide whether of the two notes
bearing differences on the ellipticai en-
craving on the back, one or the other
is not counterfeit. In response to re-
cent letters requesting information as
to which of the two notes, one being
I less distinct than the other, is genuine,
! General Spinner responded that, prob
ably, both are genuine. The indistinct
one is the earlier issue. The engravers
undertook to improve tie plate after it
had been used for year OF so, and al
though they succeeded in making 1t
moro perfect, they did the mischief of
creating much embarrassment in the
minds of even good judges as to the
Genuincness of one or the other of these
two impressions.-N.H Y. Tribune.
PHHADELPHIA.-From the Ledger of
Wednesday: There is an increasing de-
mand for money, or what is probably
nearer the fact, there is less disposition
to lend ut the low rates recently cur
rent. There arc no longer transactions
at ;a4 per cent, the ruling rate for de-
mand loans being sac per cent. Indeed,
most of the discounts on the street rule
at 7a9 per cent. for best bills. The banks
! are discounting freely to their custo-
mers OR most of the new short paper
made, but discriminate closely as to its
credit, and all such rs is not entirely
approved is discarded. Should the loss
/ of greenbacks at New York continue,
the banks, in order to keep proper re-
serve. will be compelled to contract.
During the last week there was de-
crease of S4,500,000, and compared with
| the statement of August To-, decrease
of nearly eleven millions At the pres
ent time at New York the proportion of
! legal. tenders to deposits and circula-
tion is 90 per cent.
NEW YORK.-From the Times of
Wednesday: While the rates for mon
ey to the brokers, rs the rule of the
street bave advanced on general collat-
| eral 10 6a7 per cent, the great dealers
! i'm the public funds arc still supplied AZ
5afj per cent, and even in some instances
as cheap as per cent. where balances
are voluntarily left with them. The ad-
vance in money has brought out free
simply. as we'll on the railways ~ on
/ United States stocks, and the most hav-
| ing been made ont of the upward change
| in rates by the bearish interest on the
| Stock Exchange last night and this fore
noon, the whole market began TO show
rec oyery before one o'clock, and later
| in the afternoon was decidedly buOyant
BosToS.-From the TrGraIlsr of Tues,
| day: There was n continuation, to-day,
of the increased demand for money,
which was experienced at the close OF
last week: but, fortunately for borrow
ers. the supply of currency available for
/ loans and discounts was quite sufficient
to satisfy the requirements OF such ap,,
pIicants as were fortified with good
credit, substantial pledges, and approx
ed business paper.
Borrowers on Government collaterals
obtained accommodation for bret pc
RODS of time at six, with few eXcep-
tiOns at q fraction under. Many OF the
previous engagements at four have been
notified as advanced-some to five and
Others to six per cent. Choice Selec-
lions Of commercial notes and accept
ances were negotiated at six, for short
dates, but the longer maturities, even
with first class double names, were sub
iect to seven, while the inferior quail.
ties ranged from eight to ten per cent