, 1873-09-05
MONEY And OM1NERCE
MONETARY.

MONETARY:
ruunapAr EVENING, sort, 1.
Yesterday tficro appeared to 10 aligl,t falling
OF IN tho country demand for currency, but to
tay 1t IL MI laryo as ever agafn, Tho oxtraor
binary demand Inns completely exhausted thu
SUPPLY Of small bills at tho command Of tho
lauhH, not only horo, but apparently also in Nov
York. II appears TINT tito supply Of National
Bank notes, of which tho major portion Of the
slnnll bills in circulation consist ia entirely OK.
haustcd, and, III rospohso. to: tho demands OF
banks horo for currency, tho New Yorl.
National DnnkB 'aro ronltting nearly MI
ogal-tontor, and thoso Of 1nrgo denominations,
Notos as largo MS $780, 800, or oven $50. aro OF
comparatively ltttlo uso IN the country, whore
tho greatest necessity is for S5H mud a10a. We
understand TINT somo Of our batlkera hnyo al.
dressed tho Secretary Of tho Treasury ropre.
eontilg tho necessity Of remittiug supply OF
small bills In tho Sub-Troasury In thia city for
the accommodation OF tho Northwest, That
thoro Ia pressing noceusity for such notion ov-
cry banker and grain-dealor In the Northwest
will testify. Tho unprecedented do1nand for
currency makes necessity for unuHnal moans
OF 1noeting it.
Money continues oasy enough in this market
get. Tho heavy shipmonta Of products east
ward have thus fur 1nado oxohango enough to
bAlasco tho movement OF currency III tho op-
posite direction. Dorosts havo, therefore, ox-
pcricncod no great docroaso from tho heavy
checking Of tho country banks. This is rathof
Ri extraordinary condition Of tho loan markct,
considering tho great activity Of finances in
every other respect. Its continuance, however,
dorcudB entirely on tho continued activity III
vent its accumulRting hero.
Exchange sold to-day ut 81 rs por 81 900 dis
count.
FUTURE OCEAN FnEtdurs.
dust Mt present the aspect Of commercial nf-
fails is everything thnt could bo desired. Tho
and tho rnpidity with which it IL being takon out
OF tho country il leaving a large amount ;of
ayaiiable capital in tho country and stimulating
all kinds Of business. But it is to bo feared this
lnay not continue uninterrupted. Tho grcatest
obstacle TO the prosperity not only OF tho WoBt,
but Of tho United 6tuteB, ia lack Of suili-
.ceient means of transportation At ono timo It
!s tho inb'ltliciency Of tonnngo on the
inadeuuacy Of the lako marine to move tho
wllcat and corn crops Of the West Is being folt
HOW, but it il probable that month hence eyon
gtoator deficiency will DO experienced IN tho
n.ans sas OF Ia trIansnortntion from New York to l
and, according to tho experience Of past yoars,
five tiines greater y month henco than they aro
now. Inc English and Continental stocks
than at this timo last year. In New York
there is an nctiyo and rising market,
aud o good domand for export Tie crop OF cot.
ton IL 'argo and prices arc good, lowing the
pnanser satisfactory profit. Under these cir
cotton crop will como forward with as much
prolnptltuGe M tho whent is now doing. Dy the
last of October tho export Of cotton will absorb
a.. large majority Of tho freight room from Now
Wheat aud corn. Thus it iB not improbable that
tho moro competition for transportation OF our
great crops will bo the moa1ls Of, reducing tho
price received by tho producer, notwithstanding
tle contl!nance OF al active dou,aud aud good
prices Ill England.
THE $500 cousrEnrE1r.
The exlstoncc Of tho unusually dangerous
counterfeit 5510 groenbacks was not gonerally
SHOWN to the public until yesterta,, but aB long
tectcd in bank packago hero in Chicago, after
1t had passed. through two bnnkB. Tho package
t:oning finally nto tho bands of tho Corn E3-
change National Bunk, the cashier opened tho
tected something different in tho nppearancc Of
QUO OF tho $500 bills from tho othors.
lsut as no counterfeit $500 bill Ind
then over been heard of, md as, upon closer
scrutiny, he felt doubtful as to whether tho diff
Tho bill with the initials Of tile bank from which
ho received it, Subsequently, whom it becar,o
AMowll TINT thoro was such counterfeit, he waa
nDlo 10 identify this o. ono. Another instance
showing tho extremely dangerous character of
this new countorieit is that Of A1ossrs. Duncan
sherman q Co., bankore, Of Now York, who, on
last Tuesday, took ono of these bills without any
suspicion Of Its character being aroused. Oh
tl,e same day they sont this aud several othor
h;lls Of similar denomination to tho
n1r. GulicIt, the cashier st tho sub-rroasurv .v
pronounced it counterfeit That made tho third
ono OF these countorfets presented at the Sub
Treasury between Monday morning and Tuesday
noon. OF those who como to the sub-IroaB,1ry
with money at all the majority are bankorB aud
tho fact that 10 many wore offered in 80 short
space OF timo shows that there arc not ouly
grens many Of them i'll circulation, but that tho
ceiyed by them. lVo have examined tho
ote that Waa detected in the Corn Exchange
National Bank i'll this city, and call attention to
tho most ready nloans OF detection. Tho most
counterfeit is in the paper, which is considerably
thicker and sitter in tho counterfeit Tho uoxt
must prominent difference il that the back Of
the counterfeit is darkor than the genuine. Be-
nices IN the engraving Of tho face, but, on tho
whole, the engraving in 80 accurate q repreBon-
tation Of the genuine that it would bo impoHsi-
bic for any ono to identify tho defects BY de-
Ecrlption, unleas lie had genuine bill to COM
raro with, and perhaps the moHt roliablo
md ready means Of: detection will bo in tho
greater thickness of the paper aud the darker
appearance Of tho back Of the counterfeit.
LOCAL. BTocK AND BoND A1AnKEr.
AleBBrs. PreBton, kean & Co. (BucceBaors to
I.mt, Preston & KoanD quote as follows this
lttornoou:
BuEfnq. Selling,
b.21s or e.. ..-.u...................llGA III
p--o"p! w. ....1Ibii III
o-.V6 y! u1' ...-..-.....+.lHsl Lib
s2os Of '65, Jan, and July. .1l61S5 1l9ss
e-2tA Of ", Jan. and July..........,11Bk 1l3E
la-3ue...... .ll3s1 l43as
y. = o !new tssIo).. o)...-......-....1l4N l4h
Go!a gun ~eghtl tl-.-.--.............lls 111N
Col! CoHr Hronh..... ......................ll5iS ll5h
Eo!n Exchange.. l1bN
HierlinR E1clango: t07alGal08li
Eorthern Pacific Gold 7~3os....... 100 Il Init.