, 1873-02-05
Eg.0NEY AND C0HhlERCE=.
MONETARY.

There is very little, if any, relaxation IN the
stringency Of the local money market. Ihe
blockade in shipments Of freight from here
Eastward g1owB worse instead of better, and, as
long a. this continues, money will be tight. On
the roads leading to this from the West, the sup
DIV Of cars is better than from hore East, but
this only makes tho matter worse, and permits
products to accumulate here, which absorbs tho
money OF the banks in holding stuff that should
go forward to the East.
Tho bank clcarings were email to-day, COM
pared to yesterday, being only $4,000, ooo, nus
the effect OF heavy settlements, yesterday, IN TUG
cattle and provision trade ara shown III tno
amount Of checks sent to tho clea1ings by threo
prominent banks that nre largely Interested IL
these specaltios, VIZ: First National BABE,
s75o 600 Union National, $500, 600; Third M
tinna] about $500, 0O,-tho checks sent III by
these three tanks being nearly one-han OF tho
total clearings
Currency Sas in hotter supply than yesterday
tat is extremely scarce Jet, and the demand
from til country is still act1ve
New York exchange was frrner to-day, and
quotable at rs conts per 81, ,ooo discount
INTEREST On DEPOSITS.
Roeton commercial paper mentions the fact
that the rate Of interest now allowed by Boston
National Banks on current balances OF the neigh
boring country banas ranges from Jour iour 70 u; HGe
IDENTIFY q recent departure from the hitherto con-
eeryatiyo policy Of the Boston banks. inc a3s"
position to increase the rates OF 1ntorest on oe-
Joeits II Boston is probably Que 70 conpa.;az
ton CT causeB among which are jirst, 2 scarcity
It money; second, competition Wl'n nc" aotA
National Banks; third, competition ut hoIne
With tho trust companies end eay1n6s oanks,
fcn.o of which have for some time peen pa5i,ne .,e
Der cent on balances left with them SIX months,
cnd rer cent on current daily balances. :.
GOLD VALUES OF UNITED STATES BONDS.
The new rer cent bonds we're quoted, at noon
to-day, at 113 5e. interest nnt ~ nrico Il
tie bonds 100.44 in gold, exclusive OF interest.
The following net prices in gold Of some OF tno
6 per cent bonds to-day Til1 bo nterest1ng LOT
Tie 1855 were quoted to-day ct 11815 in cur
rency. which is equal to 81 in gold. Deduct
from this X Of per cent gold interest accrued 9
si1ce Jan. i, and it leaves tho net gold price OF
the bond 1t 104-31-
The 5-ooo Of 1867 are quoted to-day st 116. Is In
currency equal to .6S in gold Deduct a OF !
Ger cent interest Rccrued eince Jan: !, and 1t
lenves the net price Of the bonds lo2ss IN goid.
in currency, equal to 102. .21 III gold. Deduct ~
per cent interest accrued 6lnee on NoF. ana II
leaves tho net price of the bond LOO II in goid.,
The 5-2os of 1862 are quoted to-day ct 1l47s n
currency, equal to 101.33 IN gold DEDUCT ~
Ter cent gold interest accrued since Nov: l, and
l. leaves the net price OF the bonds SO. IN gold
The depression Of the 1868 is due to the pros
pect OF their being called IN Tor Iedefnption ne-
5ore the other 5-20s, while the high price OF tho
isis is due to tho f.ct that they cannot be cauod
in before the year 1881.
NORTHERN PACIFIC BONDS
The Boston Journal Of Commerce calls atten.
tion to the fact that the aggregate sales o.
Northern Pacific Railroad bonds by the agents
are reported IS over 81 600, 900 last month, and
saws These bonds will undoubtedly take tho
ra1ne position at home and abroad as sound
and profitable investment that1s now y hela 9y m sne
quite in favor with persons of moderate means:
A good many Of the Northern Phcihc bonds
are sold to "persons of moderate means" mere
In the West, but when the persons OF moaer-
to realize, they find it Is very difficult te
sell the bonds again. case occurred mere y
Chicago, rot long ago. in which Nation! Banh
desired to sell 8 Northern Pac1ac oona, "n1cn y
had held as collateral for loan. No purchaser
could be found hero in Chicago, and tho owne1
Of the bond Was obliged to send it to New YORK
where the only purchaser the selor met viii
was the presumed agent OF 9sy Cooke aa,,sx q "
Mcssrs. Jay Cooke Co: expect to sustain IN
credit OF Northern Pacific bonds they shoul,
have some agency hero for the purchase, IS vel
a the sale, Of Northern Pacific bonds.
Proposed aAySG5-BANK LAWS.
Thu srbiect OF savings banks is beginning
attract general attention, both ii congress ah J
In the State Legislatures, and It seems toler apl
rent legal regulations OF this most importan
branch OF finances, which hss..oeen neglected
long, will lead to the enactment OF new Laws !
seyoral Of the States, and also By Congress 11 ie
report, the Comptroller of the currane
urged the passage by Congress OF Ia
sThich should mako Savings banks {
the District Of cogm11 dsna913 ,ax Wch sbouI
k he in substance similar to the n National Ian
{w. The Comptroller says: +" The passage g