, 1873-03-20
MONEY And COM M ERCE.
MONETARY.

WEpsrnnAr EvEa1No, March 10.
There are aomo Indications that tho ense which
las prcvnllcl for several woolts in tho local
money market Inns nbont culminatcd ind though
It may DO aomo timo yot bofore money will work
worry close horo, the tondoncy sooma likely to 10
In Tint direction. Up to n fow days ngo tho do
poslts Of most Of tho banks lad been increasing,
but lately thoy have been declining, and will
probably continue to do 10 Until tho usual Hcason
Of spring activity, and str!ngenoy OF money, In
April. Concurrent with tho docranso Of deposits
thc supply Of paper offered Mt the banks mud In
tho stroet Is increasing. Tho country demand
for currency has also increased largely within n
receipts OF grain have boon heavy this
winter tho incronso in tho dcmand for
currency Indicates tho probability OF larger ro-
coipts soon. Tho woathor has been favorable
Tor spring plowing,. nl,d for aeodiug whont,
and tho country ho1dors Of grain, sceing n ia
vorable prospect for tho planting Of D largo nrca
paid tho farmcr vol for tho last two yoars, will
probably be moro willing to aond III what they
havo on hand OF last year'a crop. Corn has not
rald The farmer for LIS labor except 90 @ iar az he
hogs but 4 grain Of comfort for tho holders q
tho heavy load of this grain comes from tho
Southern States, whore unusual preparations ere sro
being ao fDf planting a ~. extra a"ae sroaatn
Of tho goth ,ult., saya that the quantity
dietriote in unusually large. and that all tha is
boing applied to cotton, while corn which ~ Is an
dso Enquirer predicts That " tho neglect Of tho
corn-crop in tho South thip spring wlll occasion
Of tho Wost rs to mako tho cotton-plantor pay
vol for his neglect Of tho provision cropa.".
The prices Of wheat nlc governed almost entlra-
ly BY the markets Of the great consumer Of thatt
grain, England. Dut the price Of corn Is infll1-
enced to grcas oxtcnt by tho Southern, demand,
which pro1niaoB to be ut lonet fnir thB summer.
On tho whole, therefore, tho Wost 1any look for
ward to q good spring blsinosH In the marketing
Of ler surplus crops, and this will insure IN &C.
tive and prosperous mercantile trade.
Exchange was lower to-day, owing to tho In
crcasing demand for currency to 60 to tho coun-
try, which Obliged somo banks to Bon New York
funap ut 25o per 81 600 discount, though sales
wore alao made ut par.
-nE TAX RELIEF Law IN nEuALF or oI11oAao.
Tho Washington Chronicle Of the 18Th sayss,:
"Tho CommiaBionor Of informal Rovonue will
ports and other taxes, tho collection Of which
was postponed Oh nccount of tho suirerors by
tho Chicago fro. Congress in passing its rollcf
bill, provided that the timo should not oxtcnd
gross just closod Al, effort was made, and q
Bill introduced in tho House, to give thoao do
linquont Taxpayers further time, until noxt
March, but u did not got through. Tho Con-
missioner, therefore. undcr the peculiar wording
of tho Rolfof not, must collect tho Tax"
AMERICAN SECURITIES IN EUROPE.
A London dispatch of tho 18th announced that
BiBchofshoim Goldsch1nidt offered on that
Boaton Montreal Railroad to tho e1tont Of
sc, ,25O,000 and TINT the bonds were all takou
Immediately at = premium Of por cont. The
nrst six and a quarter millions Of bonds were
+,.n H.
and tho oi1lcors Of tho road say TINT when all tlo
bids nro in from the various cities they very
likely will DO found to amount to $40, 600, 900 or
eso,ooo,000. Sales n1e made at $50 gold in
hondR SS stock anot'ion ao whSh Tn is Han
tho SUCCESS Of this loan 1t appears
that when satisfactory socurities nre offered
there Is plonty OF money In Europe to take thom.
ceptlonal, az it is we'll known that, there aro
largo amounts Of Wostern rallroad securities
held in New York, Which the agents arc trying
to negotihte In Europe.
THE NEW GERMAN COINAGE.
The new German coinage bill has been Huf1-
ciently elaborated to be presented to tho En-
peror, and tho German newspapers now publish
the te1t Of the proposed measure.
Contrary to statement which has been made in-
oao er
sfd o = ThS s T. ses q The R9no'sa sw r. q
tho provinces of tho Empire thoro shall 30 substituted
tho Imperial gold standard, with the mark for amount
according to the law Of Dec. 1871 Tho provision Ia
to In force through the wholo Empire by I'M
peral decree to bo issued with tho conBcnt Of tho In
months in to bo allowed after the Issue Of the Decree
The second article Of tho Inv provides for tho ta
Huo OF subsidiary coins follows: Si}vor, &
10. pfcnnig and pfcnntg pieces; copper,
pfcnnig and pfonng pieces. But by
Article 1t IL provided that in shall tho silver
xs seeu e ssS ~ P19S0s
provides that silver money shall not be lcgnender
in any payment exceeding 50 marks, and nickel md
copper nonoy IN any payment exceeding Is mark.
Tho bill contains numerous other petitions, chiefly
with relation 10 tho provisional tariff between tho old
and new money; but tho above the main points Of
proposal plainly Is to provide Germany with gold
standard, and with subsidiary cotna8o which will
only be egaltendcr for limited amounts II tbs Gov
crlment policy is adopted by the Reiclsrath. strong
demand for gold for Germany is anro to continue,
LOCAL BTooK AND BOND MARKET,
Mossrs. Lunt, Preston l. Koan quote "a fol-
Iowa this afternoon:
Hi.yin9. Settling.
b-2os OF 'G2........................1l 'G2 .1l5A l16s<
o-@5s 81 I4........ llNs
o-20s OF G5....,...................1fG G5. 1lUss
6-2os Of 'a5, Jan. and July ...114a: ll4zs
6-2oa Of 1I, JAM and nly.........11Gss ICY
O. 6a.os q OF 'bS, jan and Jrly....... .llG 1l6A
1g-4Ge ..llUH 1l0ji
u. s. 5s fSaw 1ssuo3..... .,......ll2N ia
Northern Pacific dold 1905. 49,. 100 l. Int.
Chicago City 7s..........,......,,.. ,.., 90H int
inoir, Co;nty md Township los d @ol WIZ 'n'
Sterling Exchange Qarge dfafts).. -. 108 @ 1885,
Gold and 4nII r.out,nna ,Is1t 1tiHI2