, 1873-10-09


'me banks falt s,1ro TINT Mcv co,,1,1 -,
rough anyho,o mud wore determined r. r.
anu On their own bottom, no mattor w],al
Nalao o1 tho rest. It WAS not opposition tt
pflholplo or issuing lonn-cortiilcatos, but
poait'on to holding up woakor banks, that
1eosed the 1oan-certincato proposition in
Chscago Clearing House. Tie only
3ectlon to the principle of Issuing
sn-certiacatoa, on tho ground that 1t would
I've the currency away from tho banks and tho
y that Was made at any time during tho dis
sslon Of tito subject i'll tlis city, was made III
s column Of THE Tribune before tho bauka
no to any conclusion about it.
lho complication in tho price Of New York ox-
sugo III this market ia curious. It Ia {Iuotod
discount, but is really at q premium.
5ankcra stght exchange wns sold to~dnv 1,n-
3on banks At LILO Of per cont discount, But.
the certified checks in which it IL payable IN
. ~ iofk aro from to per cent discount for
Isreonbaoks would be worth from i to q Of 1
CENT premium. Where monoy ii advanced
the bank to pay for cargo Of grafn. tho hin
;wn against the shipment iHtaken By the bank
Rer cent discount, Tho banks, howoyor, ali.
nlfost determination not to croato nnv bais
es to their credit in tho Now York bankH mill
, latter got I'D of their 1oan-cortiticatos and
Qme payments in currency,
no banks arc diacountng very little vet,
the open market money is offered at TX
- per cent per month on prime collaterafg,
IRE is good inquiry for grocery, and other
t-class mercantile paper, runaing from thir.
oF sixty days. at ~ to q pSr cent por
18th. Tho supply of money tor tLia ktni
Investments comes mainly from tho porlk-pacl-
VINO VIII have no special uso for their funds
acquainted with the financial status Of rvs noaT.
very merchant in the city, thcy arc disposed
so their money temporarily iu that way untii
want it to pay for hogs. " ' ""' '3''''
1oro Is some talk of organizing q now bank
ike The place Of the Union National. People
eally occupied, to some extent q pocul;nr
tion,- in the fact that It eathornd
1arger amount of country canjtni
any other bank in the city, aud that thia
,.tsy capital was made available specially to |
'ns f1n% 81 Tho rosoiyed lasge accommo
':ountsy u business formerly hold by the Union
onal will bo distributed among the romoin.
city, banks. but q good many Of the
packers seem to be in q quandary aB to
. IT. ,hey T., ere to set tho usual accommoda-
That financial affairs will DO in much more
factory condttion sixty days hence busi-
Hill have become Bystematizcd, mud tha
alties Of trade will each have their fayorita
u aa usual.
3'AsAou44 oAilh u tnl9 city resumed
'eea to-day, after suspension of eleven
It is, OF course, understood that the bauk
iot IN an unsound condition when it Closed.
simply that it was impossible to convert
secuf11les INTO ~ currency by magic in time
MIC. me Third is now III as strong con
The public seem to fully understand this.
On lts Teoponiug to-day, tho deposits in tic
>Wero far III excesa of tho checks.
quotations in New York arc now made in
led checks: Thus, i'll this now. doprcc,atoI
ny s greenbacka eal. are quoted today at from
quoted at 109M. The real price OF cold
rs ,ks IL therefore from 1857 to l689;.
conultlon OF finances in st. Louis aay bo |
ned from peruaal Of tho following cjrcu- :
or M,!fags being sont at BY the most prominent St.
ing been received by the banks in this
:om their st. Louis correspondents within
I few days:
,. st. LOUIS, Oct. 4, 1879, !
payments for collections are made in certified +
lor winch neither Now York exchange nor cur | :
aa oe opsaaned, We are, for tho present, COM | r
:! make returns In our certificate Of dppostt. 3
,.., SILVER FOR CURRENCY.
ditlculty Of Obtaining currency to pay c
'noueea one large manufacturer in Phil l
=, -esort to the payment Of gollinetead.
,:4.-yes agreed to take the coin at tie
marriott difference between marked chncks il
10 bills, Which is about 10 per cent. That i
cents IN gold fnr al II, ot,a | ;,
But mucl, hotfnr - n,a,, u1ocan ,on.'t1' aud que
% tie uso Of aiivar "ouo n.,;.t LEY; W 70 O.
, worth iuat ahont +ho eoan. ILL., "n!ch Ct
hneke W;tt, Ho"' ,1ai'3 tI9 sa'lo prlee
.acka arc worth al T., SLY onis ~ !u. j,
,oin can no,y ha ho,,a,.t ~ 6o'u; H. American L
2in rold ~ co,1r"a ~ ~ ~ ~, NeW 1ofR Tor )"
t. it Womld ho ~ d;f,o,,it ipa ~ tmtnedlato pl
ID transnort a;Ivor w. s a..u eApensiFe 70 N
yer coin ran ha otaa.ad ;tI1onty. ;t PUT,
it out to worlncn i; tha ,a.u aroat oatcalason Dy
infinue In c;rcniata ~ t4u ana e4eat @ lacsoflest =
Z viii n,nt; u-u tAe aHere6ate 1u
. 49, ,sous'aao 10 lucroaae. There il "
A1ser PUT tnat HilYer will circulate =.
IoIau trade at par, even if the !"
Y price OF gold should decline or s por pf
thin tho noxt three 1nnntha-wh;ci, Il | 7,7
" will. In that caso mann foot,,..m. St ~
iflcient nrofIt in hnv;nn a;luea could
e1 Gmpioyos, ss TO psy Tor the expense OF buy vi
suFer COLI IN NOW York. and trausport- | al
to any noighboring city. Thus, when
clinea to Bny 1D5' nrannhoota ,r;1, ~ 81,
5I in gold. Ths pn7,l nr;na ~ VIZ ;,, po o. o.
T. howSyer rrni1nniiv la oaft;; - n1scF - -
'doilo 70 oa1 a." ~ uecin!!Ib. Amerl- 10
~ j., s,od1 ~ ~" ~ 5onGae "a new York on
will soon ba 1owar r. vi sr;, '4seI, " Ano ~ ~
that vhet, go1I r-a.e "A1 ~ saell, III III
{ LOG, silver will ia on r,1 | In
than creenhactn thai ~ HocH - -
, ~ fron! a - 4 'a sIAs tAoto WILL Dc t4a
rroonhaa,'n ~ ri ceus III favor OF con- iio
o. 6.o'!uaehe 4uso sll'er coin to pay out in III
LIE. cfActloha! silver coing OF the United tee
this viii Inevitably hrlnu II ;otn tpAotnsug otng ~ ~.
IN the currency price NJ roId tloo1;nn fof
D