, 1874-06-06
MONEY AND COMMERCE,


FINANCIAL,
FRIDAY EVENING, Juno \.
WHOLESALE dealers arc receiving nl,mbara or
"socond ordcrs from country merchauts. Tho
latter bought epsringly In tho nprlng, III pursu-
anco Of thor policy Of keeping stocks low. Tho
late influx Of money into tho country for gran
has BOT the farmers to purchasing goods, aud tho
doalers find 1t necessary to repfonish thof sup
plies. There Is every sober ronson for nntict-
patlng llno country trade this summon, and,
particularly, this fall. Tic city rotail trado Is
not in fouriBhIng condition. gront many OF
tho.dnalors have boon oyortradlng, but, iu tho
nat,,ro of things, tho revival of city busincsa
must follow that ia the interior, though not I'm
1ncliase1y. ...
There are foworfdlem mon In the city now than two
months ngo The opening Of navigation brings
with IL a renewal of activity In countless ways.
Thoro is work ut tho elevators, lumbor-yatdHt
ooal-yarle, ahp-yards, and along the docks for
tho unemployed WHO used to haunt tho stroots
md tho rivor-front. Tho shipment Of grain al-
ways makcB business lively In othor and
larger wayu all Of which tcnd to tho employment
of labor.
Tboro Ia sorno now paper offering at the banks,
but not as much Us thoy would liko to havo. Tho
dolnand for loans has Increased porcoptibly, II
not largely The i, brighter inspect q business
It canuos be aaid TINT thcrc is plenty Of pnpcr
offering. Customers arc not borrowing rs
largely as thoy arc ontitlod to do, and outside
parties aro making comparatively little papor.
The banks exhibit d moro than ordinary DISPOSE
tion to doal with outside partios account OF the
surplus means on hand. 1n busy tilnea the hanks
turn away applicants Tor lonua who aro not regis
lar customers. Tho lattor class take all they
frequently dealt with, oven by tho most oon-
acrvatlvo Of tho banks, who Heok employment
for thor surplus means. AS we have remarked
before. this condition Of tho marriott makes good
bankers all tho moro careful lest tho y0ly easo
OF money undo them.
The ratio Of discount ut the banlss is s@1o per
cert; on tho stroot. sGD18 per cont; for curry
Ing provisions on 'chango, por cont, aud less
for grain on real ostnto. D@10 por cont.
Now York exchange was firm to-day at go dis
count to par, between banks, for 81 600.
Horny Grconobaum l. Co. quoto foreign OK
change na follows: Sterling, 4Bs@491 Paris,
5l5@b1o; Frankfort, A15Es@4lSSl borl!u,
Tho cloariugB Of tln day woro 90, 500, 900.
Counterfeit rs bills Oh the Tradors' National
Dauk Of this city are in circulation in the city
and in milwaukee, aud other points in Wiscon::
careful scrutiny Is needed to detect thor charac-
ter.
TAXATION OF sALEs OF STOCKS AND noSDs.
A lnoeting. Of tho Governing Committee Of
tIG NGH 1Ulh pLUEh l1EHulhU uuH uGCu QClu
to consider the proposed taxation upon sales Of
stocks and gold. The President Of the Stock
Exchange was empowered to appoint commit
too to 20 to Washington and protest against tho
promptly ,passed, on Monday. Tho Gold E1-
chango will also be represented. Tho wisdom OF
making personal appearance, instead OF employ
Ing paid. attorneys, was generally approved by
tho members.
Tho Now York BuVcti. snys of this proposed
tax OF one-twcntioth Of per cent
securities md Of gold Or silver coin
tirteon minutes to introduce, discuss, and adopt
this important measure, calculated, according to
the assertion Of its author, to raiHe 512,000,00o
Of royenuo. Thcre rms 10 protonso Of necenaity
for such an incroaao or tho rovenuo; and, il
there had been, it was surely mattcr for moro
ciency Of iucomo should 10 provided for. Tho
measure had scarcely boon mentioned previously
III Congressional circles 1t Ind not been s1lb-
n,ittcd to tho Committee OF Ways and Means
from whom tho $12,000,0o0 wag to bo taken to
mako representations on the matter yet strange
to say, the proposal WAS adopted by M over
"In priuciplo, ailch taxes are utterly indefonsi-
bio. They amount to q direct impoat upon all
corporate property which sh ,all bo neither
moro nor less taxed than any other property.
Corporate securities should be freq to pass into
valuable; but this tax teuds to prevent such
transfers, and therefore cxorts an influence di-
rectly autagonistic to corporate Investments.
Probably not less than 10000, ,000, 900 OF tho
form Of ownership and administration MD this
enactment DEGREES that, every timo the owner-
ship Of this property III transferred, it shall be
Fubjcct to au onorous tax.
=" 1t will 10 eaid that tho sales OF corporate &c.
curitics aro frequently speculative. SO are tho
sales Of rcRl estate. cotton. grain. pork, augur,
sud every Important commodity"
THE VIENNA PANIC.
The Now York Herald publishes sorno facts
concerning The effects still yiaib.u OF tho groat
crush in Vienna i'll May, 1873:
Sixteen joint stock compantes, forty-four banks,
thiry-si1 Industrial companies eighteen building so
tho ea ue erns so IN
tue to tho present day under thu nanliruptry Court
Will regard to othcr moro fortunate esab'iahmenta
Which hayo nauaged somehow to westllcr tho stora
quotation Of slarcs The shures of tho Crcitanstalt
Of tho Ango-Ausrlan DanE have lost l28 out Of their
~ tiIo5s @ q tho Esconto Bank have hron reduced
aa7 to i0! Frnnco-Austriau ank shares from ia 10
~ EeseinsfAnk shares from ISL to IL, Austrian Gcn-
eral Bank esnres iro e7 to b. Giro a,d casRcnvcrcn
h:lAres from G4o to 90.. Commercial Bank sharca from
~ to Ga; tho sharea Of tue naukyercin depro-
ss,ea .rm s5 t. Il those Of the
tenbxnk from log to III yerkehrsbank xro a,loci ut
60 :natcad Of 200; 1acnderankcnvescn at Is instca
VI IN, AAHeLAE'ue SeslGI1elGllscno IlnHGHGHE1nft
CO i1sten Of 222 an Wiener Bangcsellscluft % ILL.,
attend VI lo2 Other embellishments hayo suffered in
proportion. The total loss incurred In estimated ut
Two milnrds Of forlns which IL about tho same sum
ns thu Fseneh indemnity paid to Geru.any, viz: Ayc
millIards Of fralcs
nOEDH AND GOLD,
Preston, Koau l. Co. report M follows:
i;uYIlg. Selling.
United States 6-oos of 'G5-Jan1i-
ury and July ....,..,...........1 .119n l19A
United Statca 6-10s Of '67-Janu-
ary and July. .120h l2oh
United Stutes 6-20B Of '0a-Jant-
arvalu t11sf
4u-4u3, lax HAY
United States Is thew issue}..... .1llx ll4A
IoA full weght). )...............1 .111at 1las
Gouexcha!lS0. S0...-...........,.."1l1a{ lila
esaeFaiH ...'....-....ss......... 456HGJ1JiE
Cablo transfers, r8,................. -. 49A
Cook County y7G..,,.,,,,...,,.,,.H0H II. Int