, 1870-05-04
MONETARY AND COMMERCIAL
MONETARY.

TUESDAY EVENING, May 8.
Tho Cairo & Fulton Rai1road-the time for
building certain sections Of which was extend
ed by Congress, the other day, in order to save
tant railroad connection IN the Southwest. De-
ginning on the Mississippi opposite Cairo: and
runuing southwest it will make, in connection
with the Illinois Central, an almost unbroke9
line of r2il from Chicago to Jacksonpott anu
Little Rock, in Arkansas, and extending also
From Jseksooport to Arkadelphia, in Ar.
k1nsss, Is one Of the finest agricultural
countries On tho continent; and though it ID
not probable that the cotton crop OF that re-
zion would come th1s way to market, its c:ttle
would, and. il the road we're completed to 1t
advantage over st, Louis and Memphis in com.
peting Tor profitable trade in the sale OF
goods. This Is lznd-S1ant road, tho tsrst
grant, OF $3.50 acres to the mile Of rosd, hsS-
ing been made SO long ago IS February, 1o55-
This grant was renewed II February, is65: 1os !o5
acres per milo, the total grant being ,9ao, 600
acres- Thusy-Be|eu miles Of the road,
ne1r Cniru, we're completed some yeats
ago, hut fell into the control Of the st. Louis
& Iron Mountain Road, with which It was
consoHdated It is to be hoped that the re-
mort that this road will now be put through, is
correct, Is it would, bE means OF short PACKET
lines Of small steamers connecting with ths
road at the crossings Of White ANU Arkansas
Iiyers. put tbs whole central part Of Arkaaaas
Heretofore tbs trade Of the State has followed
the water courses alone, and has been about
e.usIly divided between New Orleans, Mem
mis-, St Louis and Cincinnati
Tie stock and gold markets seem to bare
got to the limit OF their upward movement for
New York to expect any decided decline for
acme time It worthy Of remark that the
general revival OF speculation, which caused
an average advance Of 10 per cent in railway
stocks generally, had no pe1ceptible ehes: on
| express stocks. which are about as low IS they
The advance II fhe prico Of wheat in this
market is haring some effect upon finances, IN
causing some orders from the country for cur
rensy The weather. o..S's f9s tno !" n,sn1s Tseas
Ing, and us there are no unfavorahle
| Indications In connection with the crop already
| planted, the holders Of grain in the country
! will ptobaIy realize on what they have been
| holding OF Last years crop, and it is not i'm
! probable that the shipments Of currency TO the
! country and the receipts OF grain here
| viii both increase during the next week. II
ills connection it may also be remarked thai
| the shipment OF grainsfrom here are unusual]y
light for this season Of the Tear, this is shown
bT the remarkable manner in which New York
exchange has been kept above p1r, in season
! when ii is usually at discount.
| There il little more activity in money thar
last week, but the banks are still unable K
| find use for MI their funds and would incroas'
their loans largely il good paper vas offered,
treao baufR III 25c to 5oc por 81, 600 premium
ii the counter, bankers Ren at LILO premium
and buv 1t par. Thnro aze very few Buffalo
Tam luis on the market; the nominal rat
taking them is e OF
l ahAres ReDuhliC Insurance COfurAQT. -