, 1870-06-17
MONETARY AND COMMERCIAL.

THURSDAY EVENING, June

THURSDAY EVENING, June IL.
The fact that no railroad company whose line
terminates in Chicago controls a through line
to 80 important point in the Northwest as st.
Paul hnH always prevented Chicago from eec,r-
ing tho share OF trade from that region that
would naturally come here il i, werc not
a1tiEcially diverted The several railroads
ceuteri1ig in st. Paul no controlled
III the interest Of Milwaukee,; and though we
have railroad connection by two routes, and
though passengers experience no particular
Eindtance. distractions arc thrown in tho way
u grain that ~onld come to this market, aud
to avoid delays the most OF the wheat from
that region is sent to Milwaukee. There is
leason to believe, however, that by next Sum
mex the Illinois Central will control through
'as IL, to St r; raql This company now controls,
and also the Cedar Falls 4 AIinncsota Rail-
rad, Which runs distance Of eighty.one
miles from Waterloo Dubuque j. Sioux
Gty-to tho Minnesota State line, at poiut
twelve miles south Of Aaatin,. Min
s:! nssot:: F. From thi7 rciut there is 5aa con
Central Road. bat this las been consolidated
with the Milw aukec Il St. Paul. A new road
Lac, therefore, been projected, which will have
the same tcrmini as the Minnesota Central,
md will be nearly parallel With it, being, asthe
polnt, p,.s!o o. ,g',. gE,ea'ets; ;i divergence about
ent read Tue company LAS already
been organized under the general railroad law
OF Minnesota, as tho ST. raul i Dubaquo
na.lIoad Comrsny, With Ex-Governor William
+. n Ma1shall, Of Mi:Icsots, as President, who
has Just been over tho entire route OF the
road, md IL taking an active interest in secrs-
be through the center Of tho counties
Of Mower, Dodge, Gooihue, md D1kota,
ard will be about hundred miles long The
xoad-bed, rerdy for the supcrstTucturcs, It is
estimated, will cost about 1000 per mule, or
S4oo,co0 altogether, 4 largo proportion of
towns along the line, in tho shape Of bonuse-,
and there is no doubt that the whole will be
raisea. Tho company have assurances from the
Illinois Central Company that when
the road bed il duished they will
f,l11ish the iron and finish and
stock the road. II is believed that tho whole
will he finished early no1t summer, and thus in
about a year to give the Illinois Central a
through Line OF $40 miles from Chicago to st.
Paul.
The speculative excitement in the markets
to-day, and the heavy settlements Of grain con-
tractsMhch maturcd with the middle Of tho
month, msdo An unusually active money
market. Several Of tho banks found it difficult
10 meet the demands Of their regular custom
err. and the general tendency was toward
.iringency but as the call for money for the
seui-mcutllly settlements is only Temporary,
All Improvement in, this respect will probably
he experienced Tomorrow.
The unprecedented drain Of. currency to the
country continues, and as The movement Of
wLeat IN tho country will undoubtedly be slim
ulatcd by the large advance in prices daring
TIE Fast few days, The flow Of currency to the
country is likely ocontinue some time yet. The
amount sent out each day il not unusually
large, Int it has continued much longer than
esu1l. Judging by the sections from which
T. the orders for currency now conn It ia in.
tended about equally for the movement Of
Wheat, com. and cattle.
Exchange WAS sold between banks to-day At
sOc per Il 200 discount. At the counter bank
ere sell at par and buy At from Il to al.5O per
81 900 Oh.
At the Stock Board to-day sales we're:
slp,Gf0 L. s, sos Of .l13E
olDN American cn1h nuf4t / q 1i3E