, 1873-01-01
MONEY AND coMME
MONETARY.


TurHpAy EvrN1Na, Dco. 81.
Money continues tight In tho loenl market, hit
now that thu National l}anlss know the day depig-
,'atod for report, they will rrosnb'y lot out
monoy moro fraely. Tho blockade In freight
transportation from tho Eastward has also boon
raised, anil, ns ulipmeuts will 80 forward moro
freely, shippers will 10 able to realize on pro-
'aGtH by drawing against them. Tho remittancos
:, hero 10 Now York are unusually hoavy ovon
4" ''a eoason of tho year, and mako an unusual
;.hr,ifo e1chango, which haa advanced tho
S'henrly to tho currency chipping point.
Baeswere mado between banks to-day as high
as 800 ror $1,000 premium, though somo woro
snado early as low as par.
LOCAL p1y1nESns.
The Chicago City 1salway Company and tho
Wcst Division Railway Company each declared
n 2l5 por cont dividend, payable Jan, l. For Tho
West Division Company, this n,akes 90 per cont
declared md paid IN money within ycar, bo-
Hidos IL per cent in certificates. Five per cont
of this, however, was division Of surplus
money on hnnsl Mt tho beginning Of 1871, leaving
tho dividends earned aud paid III money during
tho yonr IL per cont on tho capital stock. Tho
Chicago City Railway Company has patd 15 per
rent within 4 yonr.
Several OF Tho banlss haso declared dividends
ranging from 70 7 por cont for tho llatf year
viii. ull tho banks. and wo oven loarn Of the
stock Of QUO National Danls hoing sold today ut
H7lG por cent Of The amount paid IN, which would
not indicate q brilliant prospect Of dividends.
THE SOUTHWESTERN DEFAULT.
Thoro IL no doubt that The default Of interest
on tho s5,00o,00o Of Chicago Il Southwestern
lonls, aud subsequently on tho 81 ,0u0, 900 OF
hnnan Of tie Atcllison Branch Of tho ean'e road,
has heped to throw cloud Of tliscrodit OIL
American railroad bonds in Europe, qna rnrtlcr-
larly Of those Of Western railroads. Wo clip
The following from tho
AMERICAN FINANCIAL. NEWS,
published at frankie kfort.on-thc-Alnino, undor
date OF Dec. g.:
Again W. have to add to tho ot of aslaulttns rail-.
Toaa ho,ds ano1her basf M i, acsp The A,sson
The frankfort House. whIcl, fna po!t rnoat Of Tho
Atch!sou Branch bonds III this city, nforma Tint
only worry few o the boun are In this city Or Germany,
but that most Of them have been bought by Dutch
An Amsterdam letter to tho same paper also
Hays in comically bad English on the aauo Bub-
jeot:
Gu tho American Railroad Market 1Icraclit and Den-
present. The sud tl,a. the December coupon Of
i,s Chicago lA.ehiao, n7anehs) nas
OIL ths bonds Of 10 per cent
Tho paper from which we clip tho aboyo OK
ponds ltB wrath on Mr. Tracy, and seetns to hold
him responsible for the wbolo deception. For
would say, howevor, TINT there Is quarrel be-
tween tho llock island ihterost (roprosonted by
Nr. Traoy) in tho Southwestern OIL tho one hand,
and tho .pasty represented by Mr.. Winston, the
former President Of the Southwestern, On the
other. Which Of theBo parties il 10 biamo for
tho osident miemanagenlent nntl apparently In
tentional depreciation Of good piece OF rail-
road property it would DO difficult and pre1na-
turo to say just at present. Each party claims
that it is nnxiouB for MI investigation nt tho
bands Of the Courts, and it is not improbable
TINT tho dispute M to which hns abused it's truBt
and deceived tho public mny yet l,o decided in
that way. In tho mcantimo wo a1siso tho
Frankforters and Amstertlamera to bottle up
their wrath until they know oxactly who IL en-
titled to the contents 0f their yialB
RATIONAL BANK nEBERyEs.
Tho views Of Rn outside party on any disputed
question frequently carry moro weight tlsnn
thoao Of others who arc nearer and therefore
suspected OF having their opinions haacd by
their OWN pccuniary interests. III this conuec-
tlou To give, for what It may bo worth, tho fol-
lowing from tho London Economist Of Dec. 7,
which concludes.a long article on our National
Banks going below tho Is per cont. line Of re-
sorvoo:
"Our conclusion ia that, on tho wholo tho
regulation OF tho American banking Bystem-
that the banke shall keep q certain percentage
of thor reaorve against all liabilities in casl.-
is very far from 4 success. It lays down hard
and fast line, which fetters sono banks and il
euperluoua for Others while it can hardly be
han2a that T. o,,n;coa ~ noc,r1 ~, nmna roaorrn
in Tia nrnnor anartor 11o fiSjnr Of a t,ofn;to
1,ronnr3inn ~ 3S nor co,,t ;a ;r t,1,th roihnr s
f. tp ,ns1n,t1 u INK M othorxao Sttia s"mo tina
hv nrohhft;nr nav hns;noss w,,on tho hnnl,a nra
trh;o ,oaiIu ho tha fInn caah rnno,-va 49," a
haT1ad trn14 1naI;n. froo 1,so ~ l. ond th;s
Iii ha a., ao.rau.ton ~ onu rnn;o sss,;ai, no.,
;.a w T.. 4{h ..;, H. ~ ,o 49, HH;.s. ~ ,..o,1 3
IN, r,rn,r - 10 aenno,aiir ~;nah{Ha,,or,t i,
''on ~ .",a ~. .ns,s
c4o,,,o Gni1 +,n,or " - 1so,,t,,.. e .,o
stoto - Kon.eu..t.1araa wrca ns fnI,a,xa M i'm ;,'
ass ~ - re 1892 1'a,t;a,, a. ~ III 80
st6ta. ~ '"' "A1o""oo ""Ae~'A A'"' - si"s
7'asI r., +,o .tot,toa n, 1aea +,o ,rod;+or ,,,,a,
doht wns secnred Nv ~ nartooro nnon ren eat"ta