, 1873-01-08
MONEY ! AND CON-! .::I2CE:.
MONETARY.

'ronoy to New York. Tho amount of Now York
bills n,atlo against shipments Of hogs and cattle
to Now York during tho lastwcok has boon un,ull,
owing to tho lack Of shipping facili-
tics. The capacity OF tho railroada from
hero to the East ia insufficient 10 carry moro
tllan half tho hogs nnd cattlo TINT would bo
shipped. Atthoaamo timo tho railroads from Tho
Wost mo pouring In twico rs much stoclt as they
woro ten days ayo. Tho inability Of tho East
werd trunk lines to cnrry off tho products, hogs,
cattlo, etc., that ayo now brought In by tho
roads from tho West, has tho OBJECT to mako
frcights accumulate hero, makes money tight,
aud sonds tho currency or Eastward instead OK
tho producLs tint would 20 in its plnco IL there
was my means Of sending t,lonn. If business mon
would examine into tho effects Of tllo prosont
blockade III frcigu, aud trace it's effects on tllo
pluney market and gu tho prices Of products,
they would certainly mako BONO movo toward in
crca3ng tho transportation facilities to the soa-
board aud kcepinE up competition botWoon tho
Ehstwnrd railroads.
Exclsnngo was nominalty quoted ut 75o por
$1,000 premium betwcon banks to-day, but was
scarcely to bu hnd ut that.
Tho rceult Of tile animal election Of Tr,lBtccs
OF tho State Bayingn Institution. today, was,
that Mossrs. L. 3. Subway, @. d. Bickfora, and
II II. Shufcldt retire ind give place 10 Arcss:s.
Ihos $. DobLins. Q. s. 1Iough, andD. p. Spouccr
Thos. 5. Dobbins, D. D. Spencer, Porkins Baas,
N. D. 1kldder, ChaunceyT. Low on, John II. Fostor,
D. Goodwin, D. .. Smith, Wnl. II. Turner, Q. $.
S. Dcbbifs, Vice President; q. D. Diclsford,
Cashier; 4. D. Guild, Assistant Cashier. Tho
State Savings Institution Inns bocn tho most
successful md one Of tho most consoryatively
managed savings institutions III tic city, q point
Which, in Wow Of itB largo busincss, is OF much
interest to many people.
The election Of Directors Of tho Chicago City
Railway Company resulted IN tho choice Of tho
full number Of Directors allowed by their CHAR
Jonos Samuel W. Al1erton, Silau B. Cobb, Ed
win Leo Brown, Erskne Al. Phillips, aud AZ. V.
uonnessy. Notwithstanding nonsationul reports
to the contrary, there was no eyldqnco o. any
officers to control tho stock or turn anyboayout.
Tho annual report rcal by the President shows
tho a1rairH Of tho Company to llaso bcen ndmira-
bly, managed during, tho past ycar, mud tue prob
cant per annum during tho ensuing year.
A considerable change has been made in tho
management Of TIC Chicago Clearing House,
Smith, Prosiaont; L. ]. Gage, Vice President; /;
D. Il. Hall, Manager. Tho Executive Committee
aro: Nlcssrs. ]. II. Adsit, John Do Koycn, N.
D. Buchanan, q. a.: Iyes and Orson Smith.
management Of local stocks than tho above,
though good many other elections arn to DO
held within u fow slays.
ABOLITION or usURY LAWS.
a movement Ia being made III New York
toward tho abolition Of tho ridiculous and ill.,
operative UBury laws Of that State. A petition
its receiving the signnturoB Of businoss mon re-
questing tho Legislature to abolish tho proaent
UHury laws, aud to substitute thoao paaHed by
tho Legislatures Of Massachusetts and other
Now England States. III effect the proposed
law sets forth that when no contract is made,
tho legal rae Of inherent shall ronain as at pros,
mako tho rata OF interest whateycr thoy choose
to specify, and this ehall bo a legal and
binding agreement. It is urged by tho adyo-
Gates Of tho act that this would simplify
tho matto5: % A. prG;zent tic uanEy lawa , are
Interest,"" and u scoro Of other ,Yaya. One
prominent leather merchant las written to Gem
eral Dix, inclosing tho speech OF ono Of tho
strongest advocates Of tho biz when it waa be-
iore the Nlnaaach,tsetts Legislature, aud asking
him to recommend, in hs forthcoming mcsgage,
tho proposed act to tho favorable consideration
Of tic Legislature.
price Of money by law than thero iB for oBtab-
fishing n legal ratio for house ront or legal
price for bnrrel OF flour. There is no argt-
mont in behalf Of Usury laws that could not bo
applied with much moro forco for the restriction
Of tho price Of broad mud house rent. There is
popular dousion that Usury laws protect poor
mon, tho fact is they protect nobody but dead
beats"
AMERICAN CREDIT ABROAD.
Tho Pal Hall Gazette las the following perti-
mont re1nurks III regard to the wny Americans
depreciute their own National credit:
II is strange TINT IL people 80 sllrewd as the
Americana shonld not look more carefully to
their credit. The United states hayo almost
everything that should recommend thom to the
confidence Of tho borrowing public. Tlleir ro-
SOURCES practically unlimited, and thoir PROS
pority III always advancing. There ia no groat
likelihood OF their being involved again In Il
costly war. They arc steadily paying OF their
debt, if not quito 10 quickly as was predicted
Yet while the por cents of "played out" Eng
land stand at VIZ the funds Of tho staten may 10
bought to yield over 6 por cent. Tho chief reas-
on is, no doubt, tlnt tllore is suspicion abroad
that i'll conceivable esontllaItios tho
country might repulinte. In Tho cnso OF n for
aiSn war the popular fooling might insist OIL
such ~oapoaB as lay ready to hnld, and might
denpnnco tho remittance Of dividends to Europe
aB AflOrllng aid and comfort to tho guemy For
our own purt, wo can hardly doubt that tho
country il too sound ut heart aud loo intelligent
over to do anything 90 aishouorablo and short
that prominent politicianA haro from tmo to
time put forward possiblu ro}A1diation as ono OF
tho panks in their platform, and that mixed
audiences have listened TO their yiews with
pluconcy, and sometimes with enthusiasm. Such
speeches nro freely discounted by investors,
with tho evidences thoy afford Of n laxity of
moral tOne which nlay oAsiiy confound itHelf
with patriotism in timog Of political excitement.
Aud the roHult il seen in the price Of Amorican
Becuritica aJ compared with our own.
LOCAL sTock AND No:;D NAl.KET.
NIcHs:a. Lunt, Preston 4 hean quote rs fol
lows this afternoon: