The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-07-26
FINANCE AND TRADE,
Financial aud Commctcini Items.

Financial and ConmcTcin Items.
The July quarterly statements Of the
National Banks are all in, and the
Comptroller has published his abstract
! Il ,eof An analysis OF the figures
gigcs some interesting facts. The items
which can be legitinaLely counted rs II
| portion of the reserve required to be
| kept OH hand show an average of full
! 30 per cent. of the amount OF circula-
! ton aud deposits, whichis considerably
in excess of the legal requirement Tie
banks hold S9,602 900 in specie, us
against Sl0.4O0,OO0 i'll April. The
! amount OF assets bearing interest is
| 81 100000, eco, out of Il total of 81 ,49l, =
600, 900. The ronds deposited To secure
United States deposits aud the deposit
of disbursiug officers are SG,UUO,OOO III
excess of the deposits. The surplus and
undivided profits are about equal TO
one-tourth OF the capital stock.
The weekly statement of the banks
of Philadelphia shows an increase in
every item except circulation and clear
ings. The loans increased S34S, 0l7: the
deposits $2S5, 1872; the legal tenders
S373, 9iG, and the specie S22,345. The
two last named cash items amount to
Sl6,950,G0i, against 4o,S0e, O69 of de-
mand liabilities in deposits and circu-
lation-a Very considerable increase on
! the reserve OFFS per cent. required by
| law The clearings of the week fell oil
more than a uillion and three quarters.
and the balances increased over seven
ty-tive thousand dollars. The gold de-
post in banks at New York fell oti ST.
| 700 900, and the currency deposits in
creased about $1,000, OOO-ieaving the
the general deposit line 81 ,O0O,U0O high
er than Monday of last week. They
increase their loans nearly 1000, U09,
and add 81 ,OUU.UUU To their srcenbacks.
These figures, both AT New York and
here. says the Philadelphia Ledg1, in
| die ates a very easy condition, and point
to the continuance OF an easy money
market.
The Chicago Republican says:
Ii transpircS, in connection with the
effort of some of the banks to increase
their deposit accounts, that the officers
are not only Offering the merchants extra
inducements i'll the way of selling them
Eastern exchange at lower rates than
other banks, hut they also offer to put
up bonds with their deDositOrs as securi.
" for their balances. We are really
aStoniShed that any hank officer should
make any such proposition. Ii is short
sighted policy, and can only result III
loss to any bank that purSues it. We
do not believe that there is u bank in
this city that requires to resort to such
an eNpedient to increase lis business,
for they are all paying fair dividends,
aud when our best merchants are max
ing but small profits, the bankers ought
To be satisfied. But all this is the re-
suit of breaking over The line and pay.
ing interest on deposits. 1t idducrs
rcril SSneSS. whiCh'cvcry sound banker
will guard against. either on the part OF
his own officers or that of his custom.
ers.
The Rochester Union thus chronicles
the failure of another country bank
The Weedsport Bank has gone TO the
dogs, and a pretty bad failure it has
made. The Auburn IdrertiSer SAYS that
the failure is in consequence of dabhling
in stocks by Il prominent officer of the
bank, who, finding himself III a close
corner, pledged everything available in
order to carry the Speculatious along
! while awaiting IA rise in the stocks, and
etfecting insurance to the amount OF
! So, 600 on his life TO be used as "col-
lateral" The failure sweeps the entire
capital of the bank-Sl0O,OOO We I'M
derstaud u receiver Is TO be appointed
ut once IN wind mp ITS affairs.
The Igc says: The tidings from the
growing crops continue to be of the
most cheering character. Apprehen-
sio"> felt that the heavy rains wo:,;d
have an injurious effect upon the Weld
have proved groundless The knovl-
( edge If these facts has created more
cheerful feeling, and an impulse has
been given To business pursuits in gen
eral. The prospect of a heavy freirht
. - this illl ulS lUlIlIONttl the
! price of stocks of many of the Western
roads, and those of the PENNSYLVANIA
railroad have advanced for the same
reason. The unusually low temporal
ture which has prevailed for the last
fortnight, has habits influence in keep
ing number of our merchants in town.
and our jobbing-heuses and Others
are doing more than at the
corresponding period last year. All the
signs of the times indicate brisk fall
trade. The manufacture of goods in
the Eastern establishments is in excess
oil the demand, aud this may lead to
concessions In prices. Certainly it will
prevent any advance. TeIegrams nv
cable give 72i as the quotation for the
hve-twenties in the English markets.
This is ! below previous adyices In
Frankfort they are held at 76a. Cotton
is reported quiet but steady.