The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-03-30
The New York z,sou.neOf Thursday ha.ths


| following:
Financial arairs are not in an encour-
sSlns PoSition with merchants and specula-
T1sS,s1t = oeain 20 see more clearly that the
70 get It's affalrs In order I[hJIs r1inoT Inter-
- come naturally to disaster. The volume
and spectators based their ons,S,i1,S $500
Ay decreases, and It Is now annarsrf tbsT a.,
n1nnsJ, 1 aI1S aosEs upon borrowed paper
IInoneyt ana lrrSdeemabla paper money a.
thAI, must move rapidly into -liouidaHSS, =
IulhouS iosssS- The last desperate renejv ~
oSertradfng merchants Is now being r,as1SS, u
I TO, and bank officers are importuned - H.
count accommodation paper" in amo4nfs
calculated to attract serious attention Frorn
this state of affairs TO suspension and ltoni-
dat1on the steps are not long and no Change
In the administration of the Treasury can
give relief Reports are induStriously circu-
lated by the press and in conVersarion that
Secretary McCuilOch has determined TO stop
money market by purchasing T-SOs with his
balances The statements are without
foundation, but, on the other hand, there Is
ample authority for stating that funding and
incidental contraction win be pursued as
steadily as ever. The task or funding and
contraction IS so large that the Secretary has
no time,' II he hsd the inclination, TO listen
TO the lamentations of SPECTATORS, who have
reiu cd 70 listen TO the warnings and now
una thstnSelSes unprepAred TO harmoniIe
thelr business with the movements OF the
Secretary In the performance Of his duty to
me Solvent part OF the community, and In
oensu OF It's permanent prosperity"
--sNAG NA4A-1s u uOLG III tue COQut-
ton OF the western money market. At St
Louis the demand is fully up to the ability
Of the banks to supply at 1922 per cent
business s generally improving. The de-
LnAnd Ior eastern exchange Is greater than
the supply At Chicago, money is reported
a somewhat easier, but the rates of interest
are unchanged In the open market-yiZ- q
u Per cent per month Exchange on New
fork Is scarce, and round lots are sold from
bank TO bank at 594Oc premium. At Gin
cinnan, the market Is close at eal2 per cent
IN tue regular way, but outside capital is in
vested al l24l5.
Compound interest notes are In demand at
about the following figures: June, 1854, I75E
9ls; do. July, 1854, I7589IT1s; do, August, "a,
l6749l1; do, October, 1864. I554GI5; do, Deem
Der 1854, lEs<al5; do. May, 1855. 1917. do
august, 1868, lHzSlll<; do, September, is6a
lt5z91l: do. October. ISIS, l0IS 1IOl< The re-
are outstanding OF these notes a little over
one hundred and forty-three millions About
nineiy-ntne millions OF these mature in 1907
Interest due on these at maturity will amount
70 . little more than nineteen millionG The
balance OF the compounds are all due in fS1S
between May Is and October I6. The bill for
retiring these notes, passed by last Congress,
limits the amount of three per cent certid-
nonS-or rather says that only MY millions
OF tnese three per cents shall be at any time
outstanding Any bank may have three
niLilS OF us legal reserve in these certificates
II me palance OF the reserve is in lawful mon
ey OF the United States. The old certificates
OF ndeotednesS were not like these. nav
able on demand in green6acks neither were
they permitted TO be counted as a part of the
reserve.
YOPa INV