, 1870-10-07
MONETARY AND COMMERCIAL,
MONETARY.
THURSDAY EVENING,

TEERsDAT EVENING, Oct. C.
The mnrny market Ia Ftill ciosc, with no
Ferceptitlc eiEn Of chanse, and no inaisa.iou
OF relief. Thu BIZ. Ks rci,or. money ~ suatcc,
with moderate uCmbeF us applications for
ioans, Which u;'1u,.Ete3iy would be mere nu-
metoue, but for the knowledge OF the fact
t!,at they coull not he accommodated. Our
bankers are doing littlo. raai:ly aeca7se they
have very little 10 ope1atc with. and many OK
them report lusiEces as decidedly dull.
We called attention this Morti..s to the tack
that the Vert il l.a1s OF rash, wi,ils the East il
full to overlooking. aud hiutea At the cause Of
this anomalous condition Of t!iugs. which
cnr..t to lie exactly rcve1std at this season.
The only immediate remedy for it is TO sea1
on onr gram to tho Fast. and get tho money
for it. We l,ayo nearly faur millioa bl OF
grain i'll store hers. and tile amount is l'.-
crcssinr, while scarcely 4 noath get remains
to move. IT,. We ought to bs allie
10 esa.t tho winter with elan b;.s. to
/ receive tlse heavy accEsarlat:oos Which
| wilt pour III uTron us durin. the interval
I,.s,caj of tl,is, We bid fair TO start the winter
| aith five mitons. and cad il with ten. 1t is
| I'll very we'll to cay that tho grain is worth
| more money tha.4 il now Lid for it; but the
| lrnih j. tta: grain. Ike everything else,
is worth just what it vii! fetch in tho
| here IN quantities beyond the ability Of
| onr merchants 10 ca,7y, NO are oa1y putting
] of1 the day Of wz='', to rseeive doaLla l,+e
IF Vengeance when it does co1ae. Tho
ruth il that there is tco much Of
speculation in grsin here to bo healthy.
ing market for goods waich otherwise
would he necessarily kept laek for mouths,
fer want Of buyers for censuno o:i ,os bnt it
is 4 NUISANCE to the community when it PFC
vents goods from finding n,asket by keepinG
uI rio psice to 4 higher figure tl4a that at
Which they can proGtably lie bought. Spe:ula-
.his as' n' market ta' 10 pis pons vhs9s ss
it does not pay to ship it out, aud or slip
pcrs would he foeIishif thty s..oull o2a:ate
IL between th,s Ioirt and New Yosk. Tho
lanle is trio Of o;2ler cereals. It wilt p7obl-
lly be ultimately found that those who hold
back now will find themselves swsmped uulcr
the quantity Which is held herc bE themselves
sud others, aud it would be mash t,estel to
Tor thipnlent. than 10 be obliged to accept sill
! lower in the future. after paying ac:aguntltel
storafc Wc dir!skc to say anything wlich
ca:a lie understood ~ an atttnrt to inhucnce
the rrsecs III onr na1tket either way. en: the
experience of TIC past is 'eerninS With 20
Macy instances o5 tbs su:ci1ll poiic; that its
ss,sisSs se VIC runs 's may S read - them. M Tha:
wo l,aro scarcity OF cash all over The
West Is nndoubtel; and it is equally ts11e that
1
change for the property which lies here wait.
ing for a market. With tlat grain E1arkete1,
money would Be relatively easy here. and The
winter operations of rscsi5E could gro
vi1ed fer, which is difficult to do III the sltaa'
ton now stAEda.
Lcse money is going oat iato tho coun.r!
for a day OF two past. Our receipts OF sEair
have been moro leeral. and the easier prices
| which are legitimate consequence. arc, Il
turn, rrcducl=s 1hei. legitimate rr=u!t in :
lcsscnirS Of tho d"s'tc TO kecr mp the Supply
: Hence re may exrecs to SEQ lisSte. te.eiTss 9
grain III = few 1avs. unless the present weak
! Eehe ellal9 disappear.
New York exchange was :aore active tolls.
at tie rr'ces rrevonsfs quotcd. Two or tire
; Parcels charged hands between hsnks It COG
: s5c premium rcz sl,coo, Ia: the supply
' srsat. ard eomo CT oar bankers a:e about /
diuirsl IN a1-saar snal! steek Of cnrrcnc!
ly shipping it 10 Scw York to Inact Wee:cI
. indebtedness. Counter rates arc isragHlss
:. the u>ull rricc. arc huyiny ~ par, saa se!un
!. at Ito Ct rcs cent premium, eut one {
customers. tpaTncly. II par.
A derratch from sos:nu says:
"Tnr = lnnl!:1et. rrE@tutt.i. tt tac creditors
sa5,pss h!nas ae T. sa;Sa : .a:v Ws:S ,alc,.s a a
|. fully <ecurtt, sud Will no; les. dollar. Tnci
l. Is ss'cnL,i cla.s Of creditors 1h11 WILL In s
: prol ABILITY, rere:vf thFtr r1vueEts In tu1!, o.
large sl,arr Of thr,r cls.ms, as they h", sseuI
f. panes, Ike The "raf's ct woo'len mills on
~ ~ arc liable for The full amounts nf the drafts
i casc theT arr rot cashfd ty Skinner s ca.
- thtr,t c'iss of cte.stt,.ss holl no securities.
whom tie committee hope 10 bt hhle 10 rly,
:. their own words, a respectable DIVIDEND b
\. they decline 10 commit themselves Us to
T. suaount. The committee talck that p:ecee.tin
II Ia bankruptcy ehnn!i t,c avottled, ami inHt
the creditors will have their clatms better sat
ii n+tI out OF bankruptcy than IN It.
~ The sptr3c cxI;oT.s lE,s:l New York foT 1
week ending 0c;. !, were Us fellows:
:. Total for the week k6a,:
~ [ itr,.rta1.str fcr,oI1.ri Is.