, 1873-06-19
MONEY AND COMMERCE
MONETARY.

MONETARY.
WepNEspAY EVENING, Jnns 10.
In tho looa1 money market thoro woro no fon-
lures of importance to-dny, Money ie super-
abundant, and is to be had nt por cont on call
looms, secured by good colatorals. Tho monoy
mt out on loans Of this kind is not likely to bo
callod for during tho no1t two months, 40 TINT,
practically. they wilt bo yixtyday loans In many |
instances.
Now York exchange s abundant and woak at
5to nor 91 600 discount. - 'F'--' |
There is considerable currency going to tho !
country, and toiag pretty we'll distributed oil |
over tho Statoa Of Illinois, Iowa, Wisconsin, and |
Minnesota.
Business is gotting very dull in nonrly all do
rartmonts OF trade. About tho only exceptions |
to tho general tulluoaa is tho 1novomont Of grain
Eastward, aud Some activity In tho trades con-
ueotcd with building. But in whnt aro known as
tho strictly mercantile limos OF traao: dry goods,
prooorios, boots and shoes, hats, oto., business
Inns become worry dull within the paat weok or
two. Large crops md tho oonaoauont hlgn
froights loft tho farmorB but lttlo profit out OF
their last year's labor. This lttlo la practically
mado .leas by tho fact TINT, while pficcs OF
agricultural products arc down to
lower average than before tho war, oil
rnanufaoturoi article. are still high. Tho farm
ers feol unusually poor this spring, and arc buy
ing comparatively littlo. Aa an instance, 1t Is
said that not half 30 many reaperB, mowcrn, crl-
tivatore and othor agricultural maehinea arc 20"
ing sold in the country as at this time last yoar.
This is also tho rule aa regards clothing, luxu-
rios etc., oto. This falling of IN the oonsump-
tlon Of goods is shown In tho diminiahing salos
OF merchants, and tho efroots extend through all
Tho ramlhchtions OF trade and trnnBportatlons
oven tho railroads aro not making money: They
hayo heavy froights eastward, but Light ones
westward. The diminished demand Tor goods
this spring ie shown by sho tset .hht eonsia. sse
boon re-exportod from Now York to Europe,
thus showing that tho demand for foreign gooda
bus fal]on far short Of tho expectations OF In
portera last fall. The New York Bulletin mentions
tho fact thnt the importntions Of silks, for tho
first flvo months Of the year, amounted to only
$4,000 600 against $18 400 900 for tho same time
OF 1873; yet 30 depressed haa tho market bcon
that Ii LAS been found impossible to fully mar
ket this comparatively moderate Importation,
and now, ut tho close Of tho season, large job
bing house has beon buying out tho stocks OF
supporters and ro-e1porting thom to Europe at q
profit. Tho record Of exports for tho last two
goods exclusive Of domestics) to England and
the Continent Of Europe, which havo boon mainly
sent out in this way.
Tho decline in tho consumption Of manufao.
tured and imported artfcles, showa that taxation
that tho bounty paid to manufacturers In tho
shape OF productive tariff comes out OF tho
labor OF tho farmers. Thus, while tho protective
system builda it's lofty structures OF home manu-
lneturcB. 1t nt the sanlo time BnpS the foundn-
tionB upon which they stand.
ST. JOSEPH DENVER cfTY RAILROAD noNDe.
Some montha ago wo mentioned the fact that
Wostorn holders Of St. Joseph l. Denver City
fully, inquiring for tho oiicinls who were to
nay the promised 10 por cent gold interest. we
see now by tho Boston ,BulIesa that thorc has
boon an excited meeting Of tho bondholdore,
ora are indignant. It is reported that tho road
has but 500 900 acros of available land instead OF
100000, ns 1t supposed. h committee OF five
has been appointed to investigate matters for
tho anxious inQuirers.
NORTHERN PACIFIC RAILROAD BONDS.
The Northern Pacific Road recently announced
itn intention to close it's $50 loan at $50 O00 OO0
md complete its work by tho aid Of per cent
gold bond. BY. thus limiting the 7-so eaus, It Il
expected that tho present bonds, which will then
bo introduced in tho Now York market, vii
approximate toward tho p1icG for which they art
made receivable by the Company from tho pur
chnsors of lnnds viz: 1l0. and for which purpose
they arc already IN constant and increasing
demand.
LorDoN FINANCES.
Tho clnpgeB in tho Bank Of England ratio O.
discount during the Mst six weeks have been 70
per- per- cent? cent? lily 10 to pei e cont May il to 6 po
cent; juno to Z por cont; Juno 1S down to
per cent.
Caadpick's Nondon) Investment circular, in It
sviow Of tho monoy market for tho mouth o
May, says:
American railways have declined in public conn
deucc, and Western mines arc entirely aistruatcd
The Hrentcst, though, perhnpe, not tho most notor
ouB, IL TINT Of the Emma undertaking. which, Stand
Ing last year at 20 per cent prenaum, Ia now bein
daily thrown upon the market At 10 per cent discount
Other foreign securities in tho London market dur
Ing the month hnvo been generally depressed. Turk
sh bonds nulfered severe fa followed BY an equal1
rapid recovery.
THE BRITISH TAnIFF.'
Tho simplicity Of the British tariff as con
trasted with our own IL shown by the faet thu
while our tariff covers several Thousands OF 81
ticles, tho entire list Of dutiable goods In til
British tariff includes only 65 articles. For til
fiscal yenr ending March 81, 1879, tho BritiB
tariff yielded total revenue OF f20, ,513 900, 0
nearly $D9, 100000. OF this amount moro tina
nine-tenths was collected from dutiea on flv
leading articles, viz: 4.
CEpu huBaEo. ot1Aato.
from tea nna couee, Ssb6s,a
FROM splrlts. s'.'....s.......ss.. 4to1ltl
FROM "!nea... '.-.+.... 4to9Sso!
From MI other ARTICLES 483, o;
.L@oIo4otN
LOCAL sTocK AND noND MAnRKT.
MoBsrs. Lunt Preston b Kean quote as 70
lows this p. m.:
BuHng. Sel'in
G-qQ9 OF ~. IG