, 1873-10-17
CHICAGO, FRIDAY, OCTOBER II. 1873.

forever out Of tho speculative pool OF Wall
streot DO not belioyo that any Of Tug stogk
market again undor riso Of IL per cont, ent a
great doal of 1t will mover como out Of private
vaults at all, except to claim dividends. Tho
pooplo rho como In now to havo shares tranB-
1ars Of tho street, but arc mostly srnal! purohas
erB, and many Of thom arc 1adios. Two thort-
sand, Boyen hundred and Beventy.nvo shareB
lavb boen transferred In small lota to.day.
The samo nay ct cotrao be Haid OF a!l divi'lond-
paying rohdb. The Now York Central ta tiirnng
over great deal Of its stock to investors WHO
pay cash ut deprecated rates and aro glad to
hold on for divldenda.
Interview, With a large number Of prominent
sna that fa ept e
troubles will .oertainly havo healthy effect.
Money is coming In from the country. and geld
is lowor than at any previoda period n!nco tho
beginning Of tho war.
NEW YonK,, OCT. 10.-rho payment Of the
Bomi-annual dividend Of tho New York Central
Railroad was resumed this morning. Some OF
this newspapers intimate that Commodore Van
dends. Inquiry. however; revealed the fact that
he has drawn tho full amount due.
BOLD OUT UNDER THE RULE. !.
at tho Stock Exchange to:day Philip SpoYor h
Co.: Woorriachotfer Co.. Scott, Strong L Co.,
rule for account Of Grinnojl l. Co.. as follows:
5000 Bharcs Union Paclao at 18Y1@l0; 3,70o
Lallo Shore at 0616@671; 800 New York Con-
tral at 8s24; 100 Pacific hInit Of a2>G; 200 Rock
Island at b396; and 200 Northwestern at 3856.
n1sE IN Vanderbilt BToCKB.
In explanation Of the sudden riHo In Wander
bilt stocks a number Of runors arc a1oat,
among them ono Of an alleged Bale Of 910, ,o00,-
600 Vanderbilt epecialtes to German bankers.
tho proceeds Of which are to DO used by tho
Commodore In promoting vigorous bull cam
paign. 1t Ia said tho Commodore has bought
largely to-day.
The Pos! says tho day has been one Of
UNHEALTHY uUoYANCY
at the Stock Exchange, and considers tho devel-
opment Of bull speculations at present "a unfor-
prosent stSshgth Il OILY the pIsIuda to suothor s
break.
\ NEWSPAPER OPINION,
Tho Express says The question Of the banks
resuming greenhack payments is now boing ao-
tvoly discussed in financial circles. especially a.
1t has an Important bearing epon tho general
n sao "h u Ma% z0f bo D'n4s psops
IN an.. tho Interior have. haze a. good ex-
to the Atlantic cities, and consequently colloc-
tionB are much slower than thev would othorwise
DO. In different parts Of tho country tho Natiou-
hl Banks ate gradually resuming currency pay
ments, and this business would make still great-
er Roadway II the banks of.New York and Paila-
deiphia should roBumo. Tho Philadelphia banks
have about e3,ooo,0Oo OF their rcsorvo i'll this
City, and they cannot resume until our own
banks do. It does not follow that this money
would bo Withdrawn from New York in case OF
resumption here. but, on the cont, ary, it would
probably roman, as the Phiadelphia banks
would not draw it "a Boon as 1t became apparent
that thoy could got It. Resumption ty Nav
| York banks Ia m important step in tho rcatora-
| tion Of confidence, aud this can only be accom-
plishcd by giving up the present system of pool
ing greenbacks, which has always been Oh
3,1{+r tn}s-
rod safe'y through the recent panic
about q dozen weak banks, and it is but
natural that they should desire resumption,
| These weak banks would, no doubt, bo called
upon to liquidate largely In consequence Of the
withdrawal Of deposits and cancellation Of 90.
| counts, aud possibly Bome might 'hnye to be
wound up but our banking system would be
| placed upon a stronger baBls, and the moral
| effect Of redemption horo would bo folt favor.
| ably throughout tho country.
| Tho deposits Of our city banks now range from
9144. .000 700 to $150 000. .000 and the greonbackf
reported on hand aro from $500, 900 to $G.000,.
900. Thus it wil1 ho seen TINT tho percentage o1
| greonbaoks to deposits il only about per cent
and. adding the. city bank circulation ofa928,:
| 100000, tho percentage Of greenbRcks to tota
liabilities is less than the percentage to deposits
This Is cortaiuly not ! brilliant exhibit, and thu
only why to improve 1t is BY discussing tho quos
| tion md suggesting remedies.
Tho managers OF Hound and conservative
banks are daily refusing deposits Of greenbaoks,
| for the reason tint tho same, Or large portion
Of them, will DO immediately talson from them By
| the Clearing -Houso system Of scaling" Where
| bank officials do accept deposits Of groe1baoks,
| they generally exchange the same for National
currency, if possible at the Sub~Treasury; and
by tllis means they arc enabled to keep c1ass o1
currency on hand that the Clearing House eau
bank Presidents will tako early menus to rostort
| currency payments, aud thereby prevent NeN
! York from being behind all her sister oitiez In
this important matter Of resumption.
| GRAIN SHIPMENTS.
One Of the most extensive gratn-doa1era in tha
country said to-day that the exporters we're tnk
ing every buslel Of grain that thoy could OBJ
TAIN. His house alone is receiving LOG, 600 bush
els Of wheat each day, which is immediately Ben
abroad. He thinks tho Produce Exchange is vir
tualIy outside Of Wall street influence, and thu
any difficulties in the money market, occa8ionoi
By stock speoulations, will not materially affeo
tic dealers in produce. =. Tho people Of EUROPE
to M sod ~ He au9
saying that tho prospect for = continued briHl
trade WAS very good.
Jay Gould hAs been removed from the. Presi
doncy OF tue Now Jersey Southern Railroad, am
A. III. Ssrrat elected his successor. Gould s no
even in tue Direction now. Il
PHILADELPHIA.
| Special DlspatcA to Tbs Chicago Tribune.
PHILADELPHIA, Oct. 1G-There was a ighto
feeling in the money market to-day, though
disposition to favor commercial mems paper Il
preference to brokors'c IVA was diacernnb1e. Quota
tions on call were IL to il per cent, and discount
On commercial paper Ii to 25 per cent por IN
nun. The banks are discounting to lmite
! extont-
| dOLp
opened At 1o89s, declined to 1o71s, and closed q
108.
CREDITORS MEETING.