The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-05-31
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b410rHUi4 HftdBB8uk OF otHor caPftdffots
and borrow money ON itato about its
market value, at say Ave per cent. per
annum interest. But if he finds that B
has currency to spare and wants the
cold to use, he makes an even transsc-
tio1. That is, A lends B the gold for
its equivalent in paper mon"y at the
market rate of the day, on the promise
of B. to return Ithe gold'for the paper
again upon demaud, neither party To
pay any interest. This even exchange
is called "fat." 1t makes no difference
whether the owner of the paper OF the
gold has right to call for asettlement,
if each party has the nse Of the q he. 2
money dhtH The call is made, the rate
in street pariance Is fiat. AZ
Ifthere ia more gold offering than pa
per, the owner of the gold may nave 20
nav partial interest for the nse Oh Inc
cnfrrentv. and this is called rate s1or
CARVING that Is, A sborrows the cur
rsncy from B, giving the latter the use
Of b;s cold, and agreeing to pay him be-
s;dess Saw two, three or four per cent
ner amman interest when the transac-
ton is closed. of. course, the rate tor
carrying, even at the highest, must be
less than full rates for q call loan, be-
cause the owner of tue gold can always
borrow upon il OF that anywhere in the
street. - -. .,i.-.,iss ~ no .5srr5i q, : =. 81
1t sometimes happens that gold is
scarce and wanted. Then the borrower
pays for its use, and this is called q
borrowing rate, as distinguished from
the carrying" rate. This is always
reckoDed by the day. A few weeks ago
weU were quoting from 1-32 to Liz as
the borrowing rate. This means that
B. lets A. have his currency, aud paws
this fraction of one per cent. day for
its use. n. l,f.. a.. 10.
The Cincinnati Gazette of Wednesday
says: Advices regarding the wheat
crop continue favorable, and in conse-
quence flour and wheat on hand are
beginning to feel decidedly heavy
Prices are so high up, that dealers feel
u certain giddiness when they look at
them. The stocks are light, but they
need to be small under tho circum-
stances ,f.... .. ...,....t..- rFs+- -.
The general markets do not materially
improve. All classes of business men
are keeping near shore, and graduating
their purchases to the most moderate
scale consistent with prudence. Flour
continues quiet, and offers to sell at IN
side prices are rejected. The recovery
of the market, which holders have been
anticipating, seems to be long delayed,
and. there begins to- be some doubt
whether it will come at all. = 80 y 80, "a
The Age of Wednesday remarks that
the spirit -, noticed yesterday upon
Change proved to be very epbemeral in
its character, the record of to-day show
ing that all the life and spirit then no.
ticable has been already lost, and the
old Inactivity has resumed full sway
over the reaim where brokers cOngre-
gate. What has been thus lost in vigor
is not made up by any Improvement IN
rates, but they con sinue to rule without
any material change The public seems
to take no interest in speculatiOns, leav-
ing the field entirely open to the fra
ternity ofbrokers, who soon tire of their
efforts to keep up q show OF business,
which is not attended with a proper
tionate augmentation of profits. Hence
the spiritless exhibition made in Onr
records from day to day. .r..s. . .,.,
The money market is moderately act
i've. The bank statement for the last
week is considered unfayorable to- con-
tinued ease, and upon q specie basis for
the circulation would probably have q
very depressing influence upon prices
of many classes of securities; but, with
the amount of surplus capital offering
from other sources, and the prevailing
dizziness in most departments of bust
ness, it seems TO have comparatively
little effect. Call loans are readily
obtained on acceptable cOllaterals at
5a6 per cent. Strictly first class COM
mercial paper at short date is in demand
at 6ta1 per cent. per annum discount.
The weekly report of our Philadel-
phia banks shows decline in every ini-
portant item. The falling off, however,
is small when compared with that of
the New York banks, which amounts in
many instances to millions of dollars.
Thus, for instance, the institutions
there lose over 81 500, 900 in loans; near
ly 81, 500, 900 in specie; S3,0o0,OO0 in le-
gal tenders, and s7,s00,000 in deposits.
With MS the loss in loans $500, $50; in
specie 1873, 455; in legal tenders S2U,373,
and in deposits S452, 050; while capital
has increased $4,000, and circulation
S2.69o. In neither case can the state
ments he viewed fayorably, though the
proportion is decidedly advantageous to
Philadelphia. The business dome at the
Clearing House footed up $50, ga, 23l.70,
which is 81 ,665, 492 less than last week;
while the balances were SO, 1927 .602.92,
which is 1861 ,927 greater. 49, -..