, 1873-06-21
MONEY AND COMMERCE
MONETARY.

MONETARY.
TntpAY EVENING, Juno 20.
Tho groat foaturo In local trado and finance, to.
day, was tho panic and decline In prices Of corn,
wheat, and provisions. In fact, thoro waB q gem
oral ornnh In prices Of nearly NIL kinds Of pro.
kiucta dcat In In this markot. Tho aggregate loss
will DO worry largo, though but small portion Of
1t will fall in thia city. Perhaps tho henvloat
aoBaca aro In pork, which Inns beon hold MP by
''apeculation-at much highor price than justl-
Med by tho prices Of hoga-over since last win
tor. Most Of tho Chicago dealers laro beloved
for somc timo tlat pork was too high, and havo
.Aept clear Of It. Tho Chicago packers sold out
anonthB ngo. They made large profit on
their winter operations, and tho most, Of
them hayo kept 1t. AS for corn, thero is
:such m enormous stock OF 1t horo, that even II
Ut had not begun to heat in tho elevators the
soverstooked condition Of tho market would hayo
.raused o breakdown In prices bofo1o long,
Nearly two months ago, we tried to impross upon
country grain-doalors tho prudence Of holding
back thoir corn, and not sending their whole
Invaluable surplus to market like m avalanche
mor's Drop Of corn will not 10 much II any
greater than ono-lalf Of last yoars CROP II wonld
'soen there was no occasion for the lnooneidor-
ato haste IN marketing tho corn on hand. Tho
QcCllllo WHICH IL uR6 CauHGu CANNOT inll TO D6 a
.sertous loss to the whole West, though ultimate
II 1t Will be of aomo honoat, because 1t will put,
corn down to price that will leave tho farmer
absolutely nothing above tho cost Of sranApprta-
ion: This will stop receipts, md will oblgo farm
ers to koop their oorn at homo until the progresa
I Of tho aeaBon shall chow thero Ia not such IN
enormous surplus In tho country Oh most pooplo:
Imagine.
Money continues onsy in this marriott. Ap-
proved borrowers got all thoy want ut tho bankB
OF 70 POI. cent, and In some caaos at loss. We
notice that the practico Of lendlng botwenn
banks is increasing, the 1oan being aoknowl-
edged somctimcs. by cashiers cheok,
posi-, bearing interest at from
+ to @ por cont per annum. This ia certainly
better than aending 1t off to Now York, whore
they give only 4 per cent. Besides, it keopa the
New York e1chnnge WAS ilrmer to-ilay, and
sold at 25o por 81 900 discount:
The death OF Mr.. Horace Z. Clnrk almost at
tho very moment OF the elimination 1t his long
contemplated plnns for tho most extensive 1nii-
road consolidation on this continent, has
caused . profound sensation in financial
and business circlos. It was only yestcr-
day we, announced tho election OF
q M oaso MSs 3sssSs to ] I'll y
election was acknowledged among railroad men
as conclusive evidence that tho Northwestern
Company and ita; noarly 1900 n,ilos Of roads
tnadiaSting from ON this city to every Part Of tho
Vanderbilt party" Only lust evening tho telo-
graph announced from san Francisco that tho
aale Of tho Huntington and Hopkins interest In
the Central Pacific Raroad had been consum-
were tho "vandorbllt pnrsy." aIr. Glnrk was
nlrondy PreBidont OF tho Like Bhoro
Road from Buffalo to Chicago, and ;also
Of tho Union Pacific from Omahn to
trail arc almost owned by Mr.. Clark's fathor-in-
law, Commodore Vanderbilt, whose namo has
become tho conventional title OF d powerful oom-
. pinatlon OF money intorosts, tho operations Of
in accordance with the comprehensive plans and
successful hnanclering Of Mr.. Carh, Con1no-
doro Vanderbilt was too old to taho an active
leadership IN railroal management or to venturo
etrect speculation, but Mr.. CLARK Ind SUCCESS
fully piloted tho Vanderbilt interests, arouud
Its dangerous shoals for some years
past. Notwithstanding tho personal animosty
hetween yet &c 4 Commodore Vanderbilt and Jay Gould,
terests, and to make Gould, who really con-
trolled the Northwestern, satisfied with tie
gombinat5on CO., h3 of tie hye Frcat lines, viz tho
hudson River y New York Central, tie Lako
Shore the Northwestern, tho Union Pacific, and
the Central Pacific Tho object to which
Mr.. Clark directed his ambition was to be
President Of one grand line Of railway $500
, 1niiea ,1g, long, from New York to San Francisco,
was to be accomplished may now never bo
known, It is believed this would soon have been.
The prize, IL FACT WIS j,1st within his grasp
when his ontreaclaed hand to take 1t was par
nlyzed by death.
Tdoso who profess to know something Of The
capacity OF all the londing mcmbors of tIo Van
dorbll. party doubt if there is another man who
can .talc Mr.. Clark's place and carry out his
plans. This doubt, however, is usual at the
doath Of any prominent man IN any department
Of life. Exporonco shows that somo man, be-
lore unknown, always comea to tho surface, aud
we soon wonGor TINT do"1 magnates ever monop-
olized public attention to so groat an extont.
As for tho stocks of the roads in which Mr,
CLARK was so greatly interested, thore has baon
nothing like the doclino that might have boen
expected. Union Pacifo, which would have
been benefited tho most by the combination
outlined abovo, fell ~ per cent. Tho other
stocks woro Affected but little.
LOCAL aTocK AND BOND a1AnKEr
Messrs. Lunt, Preston l. Kean quote az fol-
fows this P. m:
oo.o Buying Selling
eI6os ao " l16A
o-1on " l1IM 1lBJf
1-1os ~ " ~ lit
o-aUs aU o. ~ Jan' an1 9uy....+.-..1lD l19H