, 1872-12-24
MONEY And COMMERCE,
MONETARY.

The local money market continues extremely
tight, the main cause for the present being tie
heavy demands Of the pork pnchers. The prob
ability of some day this week being designated
for report Of tho National Banks may also
have something to do with it. Collections in the
country are g rule unsatisfactory yet, though
the large amount Of money SGT adoat By the pay
1nents for hogs must soon make an improve
ment in this respect
There is = good deal Of currency going to the
country, and the demand for moro has oblired
some Of the banks to order remittancas from
New York.
Exchange was weak at 50 cents to Is cents per
81, 600 discount for Gales between banks tow
The cash assets Of e. 6. Eastman, the ,;.i,a:y
banker who committed suicide, are ct least
three times the amount Of his deposits, which
we're very small all outstanding checks on him
Will be paid as soon as the proper legal authori-
Ties take possession.
THE BANK ExA1uSERsHIp.
Various individuals among the elect " are in
quiring what the Bank E1am;nership Of this dis
trict is worth This inquiring state Of mind
seems to arise from 4 belief that the present
Bank Examiners head Eis not secure on his
shoulders. The fnct that the Comptroller did
not follow Bank Examiner Spinks suggestions
would seem to imply lack Of confidence, on the
part Of the Comptroller, in A1r. Sphinx,
and is interpreted by some to mean that he is
about to let the executive axe fall In this con-
nectlon all We have to suggest to the Comptroller
is: "Doat!' Mr. Sphinx is really one of the
would stand chance of getting the Office would
be LIKELY to do any better than the present In
c1mbent. Having made one serious mistake
cal it neglect or what you will-he is no more
likely to do it again than any Of the other place.
hunters who want the Office.
BANK CIRCULATION FOR THE WEST
It is now beloved that the SCI, 900, 600 re-dis-
tribntion clause OF the act Of 1870 will be re-
pealed, but Secretary Boutwell, has decided to
issue circular prohibiting the issue Of currency
to new banks in States that have more than their
full quota Of circulating notes. Within the
past few years good many new banks
haTe been started in the Eastern States, and
bare got circulation BY buying up the notes of
broken or weak banks, sending them to the
Comptroller and getting new notes bearing the
name OF the new bank, regardless of the fact
that the new banks we're In States that already
had more bank circulation than they were enti-
tied to. This Is the reason TINT the notes of
broken banks haye generally commanded a pre-
mlum- The movement Of the Secretary in this
to equalize banking privileges in the various
States. When q bank fails hereafter, bank cur
reucy Will be taken from the East and given to
tie South and West. It will be good thing,
4GAAapo, 4u1 LuUSt Nuu At 1ultuuaL9 enough TO
get hold Of large quantities Of the currency OF
broken banks, to keep it and sell it out.
EXPECTED CALI. Fon a REPORT.
The law requiring the National Banks to make
i've reports during the year undoubtedly refers
to the calendar year, and not to year from tho
date of the approval Of the Law in March, 1863 as
Is supposed by some. The banks having made
four statements this year, there is one more due
yet TEe call for this may not be made until
after the list OF January, but it will probably il
dlcate some day in the last half Of December to
which the reports shall refer. By this arrange
.ment the banks will get the benefit Of the pre-
payment Of interest on the Government bonds !
held by the Treasury for them, which will |
help to increase their cash funds |
It is believed in New York that the expectation
OF call for reports indicating some day in tho |
crease the money stringcncy there. The Ma |
tio1al Banks generally, and particularly in New
York, have been very much expanded for six |
weeks past, and the endeavor to recover from |
this condition in time for the statement makes |
money tighter.
REGISTERED BONDS.
The bill authorizing the exchange OF United |
States registered bonds for coupon bonds will |
probably become law. This wilt render vast |
ever. the difference between prices in
London and New York will justify the !
movement. As the registered bonds are now
worth d fraction less in the market than the |
coupon bonds, it will also make some apprecia- |
ton in the securities held By the United States |
Treasury for the National Bank circulation The |
following is the total amount of registered bonds
. large portion Of which are owned by the Ma
tionRl Banks:
s1 per cents due In 1881. 1892 c24 900
Biz per cents 52os, 1852. 81, $4,000
61 per cents 5-2os, 1664-...---.-.*... $4,000