, 1872-11-15
MONEYAND COMMERCE.
MONETARY.

THURSDAY EVENING" Nov. II.
The money market continues stringent. Many
of the leading banks complain, as they have done
for several weeks past, at the amount OF matur-
ing paper that is not paid, and which they are
obliged to extend. Men who are really rich, and
whose ultimate ability to pay is unquestionnble,
find it difficult to raise few Thousand dollars to
meet maturing obligations. This is especially
applicable to the large number Of wealthy prop
esty owners who have been building extensively.
Buildings always cost more than the original e.
Inmates, and nearly all who have built this year
are wanting to borrow q few thousands
to finish their structures The merchants
are collecting with tole1ah1e SUCCESS in the coun-
Try, and are paying up to the banks better than
they we're week ago, but, On the average, it is
undeniable that obligations at the banks are not
being promptly met.
New York Exchange WAS firmer to-day, and
sold at 60o to 75c per 81 900 premium between
banks.
LOCAL STOCKS.
The amount of local stocks offered through
brokers seems to be increasing. a good many
of these are held on margins. Parties have
either bought or subscribed for shares in the
new banks, insurance companies, etc, organized
here during the past year, and have borrowed
money On the stocks as col1aterals to rs OF 80
per cent Of their subscriptions or purchases. The
banks are in g. good many instances shaking off
this class of loans which forces the stocks to sale
It is even intimated that in some instances
bank stocks he1dby bank officials do not repre-
funds Of the bank :: Paper is made by some
convenient person outside endorsed by bank
officer who holds the stock, the paper discount
cd by the bank, and the proceeds of the dis
where the major portion OF banks capital
stock has been legitimately taken and paid for,
tie directors refuse to carry any such per1na-
nent discounts in times Of strmgency like the
present. This obliges the payment Of the
eases where parties have taken stocks in good
faith, and paid for them in full, the present
stringency of money oblses them to realizs.
Among sales OF local stocks within few days,
We note transactions in Chicago Gas Light and
Coke Company at 100, Traders Insurance Com
pady at 100, and subsequently at l01.
THE ATTITUDE OF TEE TREASURY OFFICIALS.
By the assumption of an authority unauthor-
ICED BY any law, the Secretary Of the Treasury
lief that he has the power and the disposition to
use the resources Of the ruited States Treasury
in the interest Of any Clique whose views coi11-
eide with his own. Relieving that opposition to
specie payments would be popular with the Na-
t1onal Banks and possibly with the masses. Mr..
Boutwell, instigated the int]ation movement
few weeks ago, for the purpose Of showing that
he intended to arrogate to himEef the power Of
ton. The whole proceeding vas 60 bold that
the most respectable Administration papers had
but little to say about it. It was denied that Mr.
Boutwell, was an indatlouist, and the New York
Erening Post even attempted to explain the sur
.eptitious issue Of $500, 000 of greenbacks
few weeks ago by saying:
s'That this was done in A{r. BoutTelI's absence
from Washington, contrary to his financial policy
hs Secretary Of the Treasury: and that there is
much reason for supposing that it YVES done, not
only without his authority, but contrary to his
wishes and without his approbaticn.'
But now comes the Boston fire, which offers
another opportunity for Mr. Boutwell, to show
that he Claims unusual and dangerous powers
and that he stands ready to use them. The New
York papers of Tuesday tell us that Judge Rich
ardson was at the Sub Treasury all day Monday,
and stood ready to act at moments notice, 81 in
case the Boston catastrophe and the situation in
London" called for the aid Of the Government
to sustain the money market We should like
to know who gave the Secretary of the
Treasury the supervision OF tie money market.
Yesterday clique Of Wall street spectators
posed to do about issuing more currency orbuy-
ing more bonds SO as to sustain the present in
fadon in stocks. This visit was, doubtless, just
what AIr. Boutwell, has been fishing for. He
Of incaleulnb1e value to them; that he could and
would control the course Of events in Wall street,
and therefore he took pains to distinctly inform
them that there WAS one power stronger than
Treasury, whose funds he welded. The |
s s7owed al resaness el an"p9n to q power
nomeats notice" }" these deputations and inter-
to organize clique that shall not only control !
the course Of speculative events in Wall street,
but take the wider range Of controlling political
issues By the power Of money. The attitude Of |
the Secretary of the Treasury is not only unpte-
cedented, but dangerous to the best interests Of
the people.
THE BOSTON RELIEF FUND.
Public sentiment is an unwieldly thing, and !
hard to control. At the first news Of the fire in
Boston, our citizens s.gushed" little prema- =!
was ascertaincd there was any occasion for it. |
The originators OF the movement now see there |
was no need Of it, and that S1o0, 900 will probably
be more than enough to make all the charitable |
donations that anybody in Boston will be en- !!
titled to from now until spring, in consequence |
Of the fire. But while it has been known for !
several days that there was no occasion for this |
fund to relieve Boston, nobody has had the |
to pour into thz hands Of the Committee from |
parties who not very well able to spare them.
In the meantime the Boston authorities have |
perpetrated the grim joke Of accepting all dona-
eager for chance to distribute his millions OF
currency, can find no e1cuEe for it in the cir
camstauces Of the Boston fire, and Gays the euf- |
ferers are mainly rich men who can stand it. |
There is no doubt that the Boston people will |
make some satisfactory disposal Of the money in |
some general or national charity but it should be
here that there is no occasion what |
ever for relief from Chicago for sufferers by the
Boston fire.
LOCAL STOCK AND BOND MARKET,
MeEsra. Lunt, Preston j. Kean quote as fol-
lows:
EHvinc. Selling. |
q. s. Is Of 's1. Hex 1lGz
6-@03 of '69, e1 iii. ut...............111t 111lS
6-2os Of "a, ex. int. .1124 1loK |
K 1cr' s,% TO