, 1873-08-22
MONEY AND COM NJ ERCE
MONETARY.

NONE ARY.
THURSDAY EvEuiNa, Ang. al,
Money continues abundant III this market,
notwithstanding the>xsent outflow Of currency to
tho country Almost any Of tito banks would 'lo
glad to tncreaHe tolr luans on good short tinio
paper at 10 pcr cont. LII the opon market money
Ia freely offered nt . TO 1U per cont for GO
days. Thoro is, however, n comparatively amall
amount Of primo commercial paper oil tho mar
ket. N1nny bankers htill think Tint tho drain OF
currency to tho country will create closer
money market within u fow weeks. II
tho drain should continue that long, tha
would probably 10 tho caso but tic
amount already sont out hns beon 30 large Tint
tho don1and can scarcely koop up at tliB ratio
many days.
Now York exchange was very weak ngnin to-
day at 81 por $1,000 discount, tho pressure for
currency oblig,ng many banks to both sell OK
change and order currency from New York. Tho
aggregate amount ordered from there to-day by
Chicago banks was very large. aud will mako
good supply with which to begin noxt week.
Tho demands for currency wore almost as
grent to-day M yesterday. Ordora from tho
country wero fargo ut oil Of tho banks having
many country bank correspondents in Central
which the lsArgcst amounts of currency
tancon to Wisconsin and Minnesota. :. In
regard 10 tho movement Of wheat which will re-
suit IRON this ouIfo" ,. Of currency, "G 4ear n5
Moines, Iowa, ono grain-huying firm paid out ii
one day 48,000 for wheat bought Of farmers by
tho wagon-load. .Wo wero shown one bill Of
lauing to-uuy 'ot ot oon nny Gafa " "neaiii
containing noaf4y 14,o9o bashols, from email
Iowa station on Tue N9ca isiana Noed'
as ttne tnls 10 an excoptlonaliy large SNIP
, nons, put !i'' snesa aro nahy otneEa Dol1e !nAoo
from io"n @lncn, tnougn ioss 1nan tno aoove,
are stl1 largely ~ o3cohs W. OF me average en1p.
menus o. IRON ooo 10 l,ooo oasnGia ~ one OIL OF
laulng, 81 III former seasons. Inc demand Tor
tnIh ~, ~ eoufse, sgIy gIoaI, anu on most OF
" ITO ionds h.} 1a9 tns ~ elty aas ~ eaSEss
nocK lsia1d snn noaa haa, wo are informed, Dor,
Iowea loo care Of thc Michigan Southern to send
INTO 1o~a, ana othef Iowa foaas Afo ina1the
enHaF requests Oh tneI instefn conheotions:
Many porsona. . arc anticipating That the
coming aSalahcno OF gram WILL maNo
e1oIptant ratea LOT Vessol lfolehts,
noth on inc LAKES and on the ocean. As
ever, 90 romemberou TINT thero has boon m largo
nclcasg T, o' @ ake tonnage sinca tnla time iass
year me great profits realized by yeasol-own"
ers !ase 1au were 60 groat extent lnYestea IN
unusually ,,nt .. large capacity havo boon
put on tho lakcs thla summer As
iar as ocean tonnage 10 concerned, 70 notice
tlat tho domand Tor grain frelghts to Europe 10
roras,a. Il. to New YORK; in 5!, ballast 1n the freight
frame 9n tho ocean, hke that On the lakos and
ny ra1t potweoh tno west and the Atlantic sea-
noard tho great bulk of the tonnage COOS eastward
IhG recent s falling on IN tho shipments or iron
.,a9 Mmu otnor nenYy commouities from england 70
as,ro,,nttc1 IaYo % 70 atcluase sae
MsptoI'ortioh petwooh eastward and westward
.;ielsns. H.. II sh1s eonnecon asia worthy OF men
ton tnat tho charactor!stlc rig aud dlmen-
eions Of tho lalto marine, rs it now prevails,
has = become Of lato years the prevailing one
nj wooden vessels aro concerned, says : Boston
paper, tho schoonor-rg is to-day more largely in
Use than ever before, such Vessels boing fre-
aqeniiy Of heavier tonnage a. than tho argeat shps
used in the coast trade, ao-calle!l, than in any
ether; but thoy arc by no monnB limited to this.
Horu,' and como OF The largor ones aro among
the regular means of traffic to md from tho
lnnda contiguous to and beyond the Capo OF
GOOD Hope. Tho prevalence OF precisely tho
earno Class OF veHsos on the ocoan as nearly MI
t!lo now vessels now on the lakes, BEows what
change would bo made in Tho carrying trado Of
tho West by the Improvement Of the Canadian
canns, SO that tho same vessel which takes from
$4,000 to 70 600 bushels OF grain cut Of Chica-
go elevator might carry 1t to Liverpool.
In connection with the prompt movement OF
Tho Nlant crop Of tue Northwest, we note al
u "hoat n Caniofilh. me STOCKTON indepeau-
e''s OF THO llth says thai there are l0,GoD
9ns OF wheat now III store at Stockton:
r;th ,oan,. nn1 .L.t tho rn,o;ntss ~ ,,,aot 49,
,hnut I'm tn,a no. ' ,o nj" s Wranoaao aao
Commercial Herald says q Tho rush Of wheat to
narhet has furry begun. Inc receipts ut San
francisco Tor 40 hourB endlnE Monday, the 18th,
were CT, 800 ce1ltnls or q greator nuAutity than
nc1ore received 1881 season IN . u hko O., space 81