, 1874-11-22
MONEY AND COMMERCE.


SATURDAY EVENING, Nov. Il.
The financial movement to-day WAS fairly &C.
tive, and sustained the average OF the business
Of the week, which is without exception report
ed by the bankers to have been satisfactory.
Tho movement of currency outward WAS larger
in some directions than it has get been. but on
the whole Was smaller than on preceding days.
The decline in shipments is usual on SATURDAY.
Currency ia being drawn ont at the banks both
by country correspondents and by city CUSTOM
ers. like the packers, whose business make them
need currency to send out OF town.
The movement Of currency from New York to
this point continues large.
Now York exchange uas steady to-day, 1T $50
75c. discount. between banks, for $1,000.
The demands upon the banks are strong.
There has been M average decline in deposits in
few weeks about 20 per cent, The general re-
port is that discount lines are ut comfortable
figure. Rates Of discount are held at 10 per cent
for time loans. Individual casea OF concessions
OF or per cent from this rase exist, but they
are exceptional md personal There is no such
market rate ns per cent for four months street
rates are 8f018 Der cent; real estate loans are
The clearings arc %, 7S6, ,249.22. For the wesk
the clea1ings a,e 099 1896 81. aud the balances
81, ,084, ,664.8s the figures for the corresponding
week OF last year are Sl6oI,bl1-o5, anu p 4,4oo'-
48262, respectively.
The London Times of the 7th inst states that
~. s. Morgan j. Co. announce an ISSUE OF 95oo, :
600 gold consolidated mortgage per cent bonds
to bearer of the Cleveland, Columbus, Cncin-
natl l. Indianapolis Railway Company. At tho
pr;ce Of IS per cent, redsemable previous to 1915
The object is stated to be for increasing the
facilities Of the Company, and the PROSPECTUS
says that per cent has been regularly earned
and paid por annum on the capital stock slnce
1861
4 good instance OF the safety to depositois
and other creditors OF the National Banking sYs-
,em is afforded by the case Of the Bank OF the
Commonwealth, which failed Sept ~, 1878; Iho
Receiver announces The final payment Of ~ per
cent to depositors and all other creditors, except
shareholders on the goth inst, 80 per cent haY-
ing been previously paid. This is another PROOF
OF the safety to general creditors OF the Naton-
al Bank system. There eau scarcely be loss to
others thar the stockholders = fact calculated to
make them vigilant.
The decision of the Supreme Court OF the
United States, rendered last Monday in the i'm
portant euit OF tho State Of Missouri against the
missouri Pacific Railroad, ends the long hsgA-
OF tho rest OF tho Missouri railroads WAS in
yolvcd in the suit. The atlantic l. Pacific Ball
road Company control The Missouri Pacific limo
under lease. and pay the shareholders per cent
per aonum in quarterly payments.
The Baxter Steam Capai-Boat Transportation
Company, 1ol uas4sA.'ne. too t41 ~
steam, has opened subscription books IN Ne"
York for IN additional loan.
The gentlemen associated with the manage
ment are among the most prominent business
men of Now York, and include Mr. a. b. Van
Dyck, formerly United States Assistant Treas
urer in this city. Associated with Mr. Van
Dyck on the Finance Committee ara Messrs~
Franklin Edison, President Of the Produce Ex-
change; C. N. Jordan, Of the Third National
Bank. and Philo Remington, President Of tbs
Bank OF llion, New York
BONDS AND GOLD.