, 1869-05-02
MONETARY and COMMERCIAL,
MONETARY.


SATURDAY ETKslSu, May !.
The continued accumulation Of money, and the
falling on In the demand for It, has been tho p1tn-
ctpal feature Of the local mouey market during
the past weck. The grain t1adc, which L. the
foundation Of asl business here, and which fur
uishes occupation for tho largest share Of bank
funds, has continued unusually dull a!nce the
opening Of navigation, and the bank. dad them-
selves likely to run Into condition OF summer
plethora without n1ss having the usual
spring activity. Notwithstanding the easy
condition Of the money market which
Is usually tho means OF stimulating
speculation. there seems to be no dsaosltion tn
that direction now, and Ill kinis u busness arc
now being done OF moderate alltl conservative
scale that Ia bnusual Tor Chicagu. Endcr these
circumstances the call for money at the banks is
Light, aL1 approved borrowers rui no dlnlclty In
gestlu2 al they ask 1oE II the legal u Per cent.
t'utsrle ol the hanks, also money Is more plenty,
and hear Of loans hsstciasa real estate a, 10
Per cent, and for very desirable security OIL busi-
pees property money could parians be ha4l for
tess rate
Contrary to the u.ual coursc Of things 1t this
season Of the ysaz. scarcely any currency is being
sent out to the country to psy for grain, which ln
dtc2tes no movement Of grain nj The Interior
towns, and probable llmlnuti0n ot receipts here
except as theJ maj be temporarily kept up by the
shipping In OF grain that has been In storr nj the
railway stations.
New York exchange has Al Ieu9thzgot up 10 the
currency shipping point ogaln, some OF the banks
hnEln9 shipped from here to-day. Some saies
were made between banks 1t 70 cents premium,
but the supply On the market Was not
equal to the demand At the counter bankers arc
selling to customers nj lilo premium and taking al
pat. Exchange has advanced also In the neigh
boring elites Of Cincinnati and St Louls, and Il
Fold there between bankers at 50 to &c premium,
The prospect now seems taat temporary nor OF
currency maJ set In TO New York from the West,
thus adding to tho already abundant supply Of
floating capital tnerr. The excitement Ia the stock
and bond market IN New York still keeps up, aud
some Of the stocks haSe advanced enough during
the rast few weeks to make km1li fortunes for
large holders, aud as the supply OF hoAttng capita;
Continues to increase thcrc no termination Of tho
1n.ation IS In sight yet
Government bonds hare raftAken to Eonle ex-
tent Of the Epx1gd movement In prices Of Ill kinds
Of securities, but the London quo.asious hare
been gradually dropping down little, and arc
quoted to-day II soh. agalnst soss yesterday, and
sot. On the aay previous The Bank Of England
has lately been Losing gold quite hcaTily, and The
Bark OF France has been gaining II
proportion. The ntual remedy Of the D1rrc-
tors Of the Bank OF England In such cases. Is 10
raise the rate ct tliscount On special OCCASIONS,
IN n., years, they have Eaisesi it ~ high ss epcr
cent, thoueh the Usual rate Is only to ~. Only
mouth or 80 ago II was raised 10 per cent. In
view Of the heavy shipments o. GATED states
bonds to that market, which threatened to draw
gold from there to the Cnited States The eject
then wns to de1rcss the price Of bonds In both
EEEupe au.t the United Siate4 anil It u possible
that something 1urther Of the knit, beiuS antlc1-
pased there now. nay be depressing tho price Q!
bonds III that market
Dealers quotations for buying a1d selling Eos-
ctuMept bonds, lncI stocks, Eull anu eilset in
this market, tnIs Afternoon, wcfe as foliowS: