, 1869-08-03
MONETARY AND COMMERCIAL


In financial AGa1rD, and In business Eenef-.Ile,
The week opens with very little animation. Money
Ia plenty al the banks, and tue demand for It
f:um the rteuar business community 1. ngh,, and
1tst.class short-ltne commercial paper IS freely
tat en- by The bankb nj 10 per cent There Is, hon.
ever, large amount Of speculative aud real estate
paper, on which the holders are willing 10 stand a
heavy bh7ye, II they can only Eet the cssn- hank
tn, however, are Keeping entirely clear OF Tits
c:ass Of Ioans, in expectation that The dc
rDaudB Of the regular commercial community WILL
Le al fhey can attend to q few weeks hence.
Heretofore, when reAl estate Fas more active,
md could he turned over and sold any day, bauEa
ye1lured 10 take considerable OF that kind Of Sc
cultty; but, lately, in view Of the expected neces-
sltes Of the fall trace they lave asoded 1t almost
entirely a4 we'll IL al tmas speculative patE. Ths
has made It unusually hard Tor tnAt clnss OF sPecu-
!attrc operatora, and Oh that Iind VI paper money
IL ouls to he Lad through brokers at from 10
per cent Ter month.
Exchange waR 6ca-cer md higher To-day; the
nominal quotation Tot sales brtwetn banks was
&c ,ey IL wv p1cEtnm. though the usual Bcllers
were telus.cg to sell al that. Gankesa were ocl-
iEs to customers at The counter, and RENTING for
country banks, NJ from PAT TO LILO premium. Tue
tuylDR rate continues Al l-10 Discount
Gove1nnie1t bonds advanced again IN LONDON
to lay, tho quo:allon being s3st. asa.nst eat on
| Saturday. The advance there seems TO have
turned point tu The equilibrium Of the New YORK
R3d London markets, as IN the present Instance II
| has been accompanied bs IL weakening Of the price
OF roil which indicates that tue prospect OF the
| 1:ndun market taking the lead OF The New York
market 10 the sdyan.c u government bond3
rakes less prospective necessity for tue shipnenE
CT gold. Should the advance ID London
ccntinre go ns 10 renew bond sh!pmen&A,
| instead Of go!i, the pr1cc Of the
atter woud decline and with It, also, to sone e1-
| {fnnA far hrDf4Hi IN SIAR
! YL1k. We should thus have had within the last
,uuuth the curious, aud seelnng,y contradictory,
circumstances OF LII adyn1ce In bonus In New
Yotk ca1slng rise IL gold: and again, Al adFauce
IL. the gold price OF Eonds IN London causing de.
cine u currency quotations In New YORK. The
Irust retauIknh!e advance, however, "a In tie price
OF tie 10 40s caused by the DECISION OF the secre-
| tery OF tie Treasury allowing the National Banks
to substitute lheu fer The sos ns security for cir
cu.ai.oD. The quotation to-day Waa llSis, against
HE; OF list Tlt.lsy, 2nJ iI1;s two Wetks ago.
Tht.e has been perfect epidemic Of nnancia!
ri. ca,lties ,iurtng the last month. The Central
National Bank lctAication III Ee9 York wR1
c!oteJy followed BY the Ballard entezzle1nent,
and IL the discovery OF similar crime In bank
al Milford, Connecticut, By which the ban1 lost
81 cGa; another 10 Providence, Il j, bank, and
a,utLer IN The Syracuse Is. w GUY Bank; al OF
it,-la In, olytpe ausns OF over s2oo'o. Besides
r1cs by persons who hare heretofore been conStd-
c.c.l respectable, Gad In aauthet column will be
found detailed account Of the latest case uf thIa
eIlue1n!c OF respec abe faAcntlty which has Ap-
peared In Chicago, The uus. noticeable feature IN
connection with UcarIy every one o! these Cosea
| ls, TINT tie mcn uho have committed tho crimes
have, In general led apparently CORRECT lives md
I l,ufne good characters Every one Of them oTes
hls dow ulall to speculation. Most OF them lived
fsa. on the expectations of what they rcrc 90
| tts to r3aLc. These expectations. however, dill
| uut s,aUt the lest OF the shItnlaCe Of values 10
speculative property Of cvcry Kind that has tAEen
pace II tae lnt, few mouths, and ruthcf than give
up shc,r Fttc Of life they have rrsorted 10 crime
10 sustain II, though is believed that Ii almost
esety one of these c4sea the guilty parties have
! ucytr entertained the Idea OF {oIowlDg ono cI1no
! up Nth repetition, Lot aeem 10 hAve ali
| b en- tleIudrd with the hope that they should.
by recua OF tho one cnutasl act. be allc 10 tide
| over an unlnyOsab!e period tn their R1Ara That
! they would Then make good the Losses OF thos,
whom ltey had delrauaed, and lye thereafter
ureciiS and honestly without their c1imlnallig
becoming public
The Milwaukee Insurance COMPANY has Souc
into bankruptcy. It VAS conducted rs a mutual
Institution until four years ago, whtn It ASSUMED
lhc "Erurrl" plan. and took notes for pretn'uaas
ipttead Of cash. With II, ns with every olhcr
company that adopts that plan. It nnallr nnus H.
sell owing large amount Tot unsettled o.ses and
for the pu5 mtnt Of which It has nothing TO show
! bit JrtmMIn notes, which would cost more to
! collect 5han they woC'A come 10. The NlEauSee
! Company les about &4e,tsS oi thesr. with which
10 pay more than that amount Of unseluci lossei,
| The ncw counterfeit ttn-doliar bi!la, which
| hive created NJ great nu e1chrinent aInonV
bankers and Cnffeu States TfeaAuretA, arc tho
! rtctt executed couatertsns ever thrown upon the
| community. At nIs1 glance they seem IL Nc a
| Is1fcct initiation Of tar so GEccu'Mcf. nnA the
/ printing seetnt to have been nnnc from TIC
original plnte, hut tlrre are rolntH Of difference
! Which are thus hutcd: In the or1klnlf the
] stating arGunl tac 10 IN the medallion
| hppcun ike IlEc nt.Wors, Mid rIus
/ c,usc up 10 the figures In ihr counterfeit
| nu1c this rnadtlS Is ''i'tcsrd up." ma be
| curnea clnr,c II II reaches the n1uFcs, io7uin+2
G light slrraE or cisc1lar haze stin!larto that
Al our the moon bcforr ft't. Tner 10 no haze In
The ee1tioe note. This it sigh. point for fe!cc-
tIon. clearer oe Ii tlIe 1act that ip the osAlll
| Gotes within the light circle running under the
ccurl4 ~. there arr threc hEd thin! dots oa tac
r Of tue 1GuEc l. In ,he counterfeit bill The ono.
thttd dCt Il rui.s1ng. hut an lnfAllihe marx or
! uut.nctlun Il !ounll under the left Wing Of the
e.SIc. Ia The genuine noIes ART four distinct rows
| CT feathers unlrf the wieg. In thc co1ulcrtcit
! ttIfee ruHE IT teaihrls AT nndccDch, hn1 tnls
bcens TO be the only weak Fpoi III The whole Gu
| CRAVING. ...
| Dealers quotations for tur1pR and scill0H Ros-
| ernrtt hands local FtOCk1 gold and silver, IN