, 1874-11-09
MONEY AND COM NE RCE.


FINANCIAL.
SATURDAY EVENING, Nov.7.
Tho banks have dono good bualnoss this
week. rhore has bcen nh Improvement Ia tho
numbor Of borrowers and loans that has re-
aulted In a noticeable norcaBo Of discount
lines THIS welcome Actiylty comeB apparently
from all directions. It Is fo1t most plniuly by
ehe inatt!usions with a largo aud miscel1ancoua
clasa OF customers. Tloso report that tho
borrowers ato Of every trado, and that wholesale
dealcrs in each branch aro Offering for Bnlo good
commercial papor nude by their custornors.
Thore has been slight improvement On tho
Board OF Trade, anl disposition to buy
grain, aa usual on riHing marhot. Is manifest,
and has its effect Oil tho money-plarkot. Tho
sattsomentH for Tho mouth havo s"ol!oa tho
bank ooaringH, Which aro noticed to follow an
upward moson.ent liko that obuorvod IN tue
first weoks of October.
The packers la,o long sinco figured ont tho
amouuls ot tho ctolltH thoy Bhouid ncod anu
havo been applicants at tho banks during tho
week for tho Buuls thoy o1poet 70 nso during tho
Benson.
Considerable credit Is sought for by pnrtios
who arc building, md, NJ rnlo, 1t IL onaity OBJ
taiued at reasonable rites, Agreat deal of build
ing is tn progress i'll different parts OF tho city a
fact which III an important ele.ncnt IN tho etato
OF tho money.markot. Several millions Of
dollars hnvo boen spent on now stores md
dwellings, this aeasop. nut In tho burned district
hlous, but in every division. Except in this
way, tho real oBtnto market makes Tow demands
Oh tho RESOURCES OF leudors
Specuaatlvo actiYlty in lnna, improved or nn-
Improved, ia altogether, suppressed. III no d.
roction-roal estate, grain, railroads, or naann-
facturing-1a thero any pn9tainea or notable
speculation, nntl tho truth that their factitiouH
figures no longer Bwell tho tranBaotions OF tlie
banks makes tho present cloarngs, which aro IN
tile aggregate far beyond those of preceding
yeare. i demonstration oi tho wholesome and on
larEel development of Chicago in all directions.
hates OF discount roinain At 10 per cont to
cnstomota who borrow regularly, with ooncea-
elons Of several per cent tn Huit ontdde indo-
rondont borrowers with good security. Real
estate loanh arc 9G9l0 per cent stroat rntea arc
B@18 pnr cout.
Now York exchange has been firm nnl scnrco
banks for 81, ,00U. Tho roHult has boon steady
but not considerable movement OF currency from
the WcHt to tho East III payment OF obligations
FOR which IN ordinary seasona produce Is shipped.
This low will continue till tue shipment OF pro-
visions boGnB. whom exchange will 'bo drawn
theruupon.
lilo prospect that exchange would rou1ain at
profnium for some time linz mado rcstlyo many
OF tho bankers, who look with dissatisfaction Oh
the loss thoy will incur by tho prevalent custom
OF selling to their customers at par exohanso
which tnoy must pay . premium for, 4
moeting Of tho Cleariug-IlouHo was hold
mombera rich should keep thom reimbursed,
aud tho subj ject waB referred to n committee to
report at tho uext meeting. The impression is
widesprsad that it will DO impossible to mako
any arrangement to which all would c0uform.
Although it is absurd as yet to speculate on
sthc financial Objects of tho elections /" some OF
tho comments Of the Now York papers last
Thuraday Oh tho state Of the moner-market will
o Of intereat
OF course, tho loading topic in Wall street to-
day WAS tho result of yesterdays elections. So
far a. tho 6tock-Exchango markets uoro con-
corned, tho tendency Of gold carly tu tho day
price was driven down to tho lowoat figures OF
tho day. How far tho declarations OF four largo
gtatos-Ohlo, Indiana, Missouri. aud Topneasoo
lin favor Of paying .Uuited States bonds in To-
gal tenaor6 will weaken tho confidence Of for
eign holders rotnaius to bo soop. A feature Of
tho day Was tho strong aud active demand for
railroad bonds; and, il tho agitAsion for groen-
baok redemption Of United States bonds makos
mrch further Roadway, it will have the effect OF
driving Investments into the best class Of rail-
road mortgagcs.-Ke1o York Daily Bulletin.
On the Stock-Exchango much cagernesa was
tes to learn tho effect Oh tho price Of stocks ans
Government bonds. pricca Of stocks dooliued
from u to por cont. Government bonds, how
ever, were firm, aud strong buying spirit was
manifested at times. Il prominent Republican
banker aal that his house had received during
the day orders to buy moro than three tstnaA tho
nuu1bor Of United States bonds than tloy had
received on any dny within Beyorai months. Pco-
plo had been waiting to Heo bow tho elections
would 80, and tho elicct having beon felt tAcy
quickened their purchases. This was al excel
ieut index. It WAS thought, Of tho manner in
which the result was rogarded.-Neso York Irso-
une+
Had thero been any real lear OF results to fol
low tho election of Democratic Congress-, tho
purchases Of gold at l101G this morning would
not have boen eonilpod to fow spoculators who
wero short OF gold, aud we should not have to
record decline to ll01S this afternoon, This ls
&hnf fc,n1 f1iut 4fN ~ tTnH
victories of tho Opposition; they are felt to en-.
body tho controlling will OF tho pcopie, and good
results aro naturally expected Of thom, to gen.
eral business aud to tho public credit The
lug the acnse Of Wall sttoot for its daily and ut1-
important fluctuations llavo long becn controlled
BY few spectators, whilo its periodic move.
nlcnts go on az wider influences direct. The
n,cDt is the quotation Of go1d aud lte courae TO-
day ouableB liz to say that the triumph Of ths
Democratic party il fayornbly received by t4t
people an,oug whom tho ctodit Of tho United
btates in most closely ganEed.
Tho unaertono OF tho strsot ia unqueBtionabl5
favorable to renewal Of confidence and tho OK.
ortion OF frosh energy. Perhaps tic feeling
cannot bo bcttor illustrated then by quoting I
telegram from distant capitalist to q Wu1
htTcot banker, received to-tln,
'The country il safe and tho eagfo still
scroamB j; buy mo ,000 shares OF ---."
Wien Wall street becomes animated by this
business, and something like healthy recovery
from the dry rot that Of late has boen It's princi
pal fcnture.-Nctp York Herald
a faverlsh aud unsettled faelng prevailed
which wag quite natural under tho circumstances
Capital is Always tmid. and honce tinauciers ant
business men could not Wow with indifference
tho events Of yesterday, which completed,
changed the political complication Of the nex
Safe Legislatures mud State Governments. Tht
first otfooa OF tie Democratic victories in Ohit
aud Indiana was to aend our bonds homo from
Europe, and when the result Of yesterday
elections is fully known and appreciated abroad
wo are likely to have removal Of this opora
tion, Much interest, therefore, is felt In Till
matter among foreign bnnkers, This polticA
tidal waso," as 1t il popularity designated. ,ya.
felt in tlHanciai circles to-day, tho imnedat
bifoct being doproHsion and lower range o
yniues for speculative securities. On the btocl
Exchansa an ndYanco in the gold premium ant
higher rates for sterling exchange in anticipa
tioh Of further importatiou Of seouritiss from