, 1874-04-04
MONEY AND COM ERCE.
MONETARY.

FRIDAY EVENING, April . l874.
II has been ofton claimed that what appeared
to- DO for tho time groat calamity to tho city
was In its rosults productive OF many roal. II
not OF corresponding lone0tB. Tho groat fire,
though It destroyed about two hundred millions
Of property, has boon tho moanB Of giving ua a
vastly iluer city than VIC had before. Stimulated
by tho abundance OF money that followed aud
tho dosiro to secure MI income from tholr prop
e1ty, business facilities worD incroaaod for bo-
yond tho Immediate dolnand for atoros ind
especially for Offices Tor months past a largo
nnmbor of splendid buildings hayo boon
standing idlo and owners have boon put
to their vita onds to know how to
get tho whorewithal to moot intoroat and
taxcs.. While this is a groat calamity to
thon,, 1t is beginning to hive a married. offoot
upon tho business Of tho city. Taking adyan-
tage Of tho low price ur rontas, especially out Of
tho Immediate centros of businoas. parties aro
coming In very considerable numbers from EUR
get themselves we'll established beioro this ora
or ovorproduotion in buildings shall gtvo
place to q general scramble for any opportunity
to hang out sign. Reports Of bankors to-day
IN various departmental Of tradc is stcady and
promising. Ono President told us ho
somotirues rocoived four or five now
accounts, por day, and NIL with whom We
them were combinations Of landing olorlts in our
larger houses with Eastorn capitalists or firms,
and some wero from cities East and West. We
add that tho Accommodations for now houses
are by: no means exhausted, and tho moro and
the sooner they como the bottor. Thus. If many
property-holderB arc mourning over empty
buildings. tenants mud tho city generally wifi
reap great and permanent bcnollte
The weather to-dny Inns boon abominab!o, nnd
business slow, and dull. Bank clonringa wera
only Il little moro thnn hnlf OF what they were
for tho past two days, rcaching only about
S9,80u,000 THO domand for money with some
Of The bnnka Is active and NIL thoy caro- for :
told us to-day, ho would DO g1ad to tako half 3
million Of satisfactory paper ut 8 por cont. The
usual discount figure is 10.
Exchange ia q shade frmor, but the -rate bo-
tween bauls and to customers Is par.
Tho noto-brokors Cte doing comparatively
10 per cent por aunuu1. Largo arst-olaas i've
year loans can be placed at 8.
No one can form any doanite judgment as to
what Congress- will finally do from what occurs
from day to day, and therefore tho voting in the
Senate yesterday did not attract very much at+
tention1 in financial oirclos. Tho inflationists
soomed to have got. the worst Of it In tho days
dongs, but their ultimate dofeat can scarcely DO
expected. An 0mondmont 10 tho Finance bill
was ldoptod adding $l6, ,000,OO0 to the National
Bauk circulation. 1t was voted for by tile oppo-
nonts OF expansion, in order II possible, to pro-
vent m initiation Of $4,000, 900. Tho bill was
laid on the table, but 1t will be brought up again
early noxt week.
A mistnko occurred In our table In thiB morn
ing's iH9ue, ta&en from tho quarterly .roportB Of
onr savings banks. Tho Commercial Loan Com
pany was creditod with having s1SB, ,291 of real
estAto and Office hxtureB. 1t should have bocu
633, ,183.