The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-10-24
FINANCIAL

MAJ Il THURSDAY. October 20, 1873. /.
Although there Is no gcperai improve nent IN ba-
siness In New York to note, there IL better feel
Ing especially In financial circles Money although
still difficult to obtain on the street, ia somewhat
easier, and negotiations have been made withina
day or two ON more favorable rates The situation
IL stu nominal. and quick borrowers ARE co mpesied
to submis 10 heavy ahaves The New York ship
ping Ltst OF yesterday says: 81 s'f *
There Is very little change In the condition OF
financial and commercial Affairs though there Is, on
the whole more cheerful feeling outside OF stock
sssees The from The interior are improy
wihstoGd the pressure with little of disaster Is
regarded as good indication or The healthful con-
While e G ne H.
country In general may feel pressed for.a time. the
late financial furry will make better and healthier
for all business Interests In the end The necessity
OF ctrtailing manufacturing productions Is forcing
itself upon the millowners, and arrange ents are
y Ths tenn is 70 B. Be-
yet In the present state Of trade. it would simply
be sour1tnR disaster TO 60 pins up goods to make
day evening says:
"The general situation Is. one Of improy ament,
the banks gaining in legaltenders, and now holding
shout %, 100000 Many Of the larger ana stronger
banks In addition to selling their daily di1erences
Of rhe Clearing House 10 ereenbacks, are 70 Ger,
tain extent disre2arding the scaling metnod, ana
accommodating customers In greenbacks- so, that
the entire resumption by MI the banks OF currency
payments does not Seem far ahead and through this
y restoration OF u free movement In the domestic
exchanges, now somewhat out of sorts and oisio-
Gated.
E.>Money on call, while comfortable. Is shade
more active this forenoon. new business being
mostly done at 4 Eirty-Second, and renewals mnde
at gold. A better inquiry Is reported for. ceMr
merclal paper, though litle Is now being written.
The bulk Of sales Is at TX per Cent. a month. she
range being 1921 @24 per cent, National bank
notes command no Premium to day. but greenl,acks
are worth bonus Of S@s per cent"
I The Baltimore Sun OF to-day says:
:, 1.-THE subject OF the resumption OF currency pay
ments by the banks at New ork Is attracting much
attention in financial Circles and It Is well that It
should. The course pursued by the banks ut AL
points In continuing TO lock up curreacy lis no
doubt influencing the same thing among The peO-
pie 10 larger extent than any other Gna ;circum
stance. and until they abandon that suicidal policy
there will be no such tree wv Of currency agaiu In
anyquarter as viii restore the normal order OF bu-
siness and confidence. A premium upon greenbacks
and bank-notcs Is kept up through tfs very action
OF the banks, and In Baltimore during the present
week i1tna Of per cent. premi AN Is being paid
for currency by those who must have it TO nav eeU,s
with and keep labor Employed In large establish.
meIifs. Though gold Ia coming freely from Europe
Ii Is fact that comparative sagnation or business
still prevails In the branches winch 1t was surprised
the Influence of the gold would most readily reach
az the Tain and pr oducc trades. The crops are moi
moving 10 anything like the extent that they woult
be were 1t NOT for the want OF CURRENCY. which i
boarded outshc of banks rs It Is inside, by reason
or the example OF the lattersD -. trs -, 2 h