, 1874-08-12
MONEY AND COM ERCE.
FINANCIAL.

TtEapAY EVENING, Aug. II.
Nothing liko nctivity cal1 bo found to exist In
The money mariict or III gonorhl bnsincBs but 10
moro than ono qnnrtor tlloro arc signs that 1t Ia
1t hand. Hovorsl departments Of tho Wholesale
and jobblng traao arc roceiving now orttcrs from,
the country, although throughout tho city tralo
remains dull as ovor, othora are largo buyers OF
Now York exchange, indicating that thoy are ro-
moving thc!r stocks. Tho movement OF currency
10 the country to pay for tho crops, aud to bo-
como tho circulating medium Of tile fall trade,
for which merchants East and WcBt aro SO
anxiously waiting, Ia not large, but has certainly
commenced. It 1rst started on tho 9Th tnBt,
aud has slowly been adding to its volume over
since
sovcrn1 Of tho bnnks report that their dis
count liuo has shown q considerable increase Ia
this is not the condition Of business. Deposits
Aro ut thoir largoBt and loans light. Regular
customotB nro accommodated at 10 per cent :;
other good borrowers nay eaaily obtain concoa-
atroet money is s@1s per cont roal estate loans
are 0910 per cent, and inactivo.
New. York exchange was 60@76o premium be-
sweon banks for 81 ,0U0.
ohanga rs follows; Paris, 5143S@51i1; Franz
tyrt, al@41A; Berlin, 7lsi@72I; Bfomon aud
Hamburg, o53a@9oM: ,...-,,
the New York World shswa tho condition Of tho
banks and money mattors tn TINT city: 90
Ths bank abatement ngain Bhows contraction OF
ioans anu M increase OF reserve, tho banks being
Nnabo even at sorT low rases to place anything ks
tnlr tUtal Of available funds at Hcroat. The loans
aro reduced by 81, ,47a.3oo, tho specie higher by
s4to.se and tho by s73o 600; t6e eircu:
lation Ia Increased to tho small extent Of $41100 sud
t9o asposits hare rnn down s47o oo Th!s nsnetloa
lawful money without reducing tho surplus reserve;
tao gain IN Kold and srenbacks thossfore ncroaaos
tho u per ccnt OF deposits required by tho National
nEni law, now amounts to ss1, ,724, 100.
In commenting upon tho recent failure Of
Patton Il Co., dry-gootls merchants Of New York,
caused, al they state, by tho Btagnation OF srado
and, speculation, tho doclonsion in yaluen, and
tho inability of tho Arm to mako roalizntionB on
lnrge stock OF goods, the Now York Times snya:
Their failure can scarcely be construed indicating
my scfso'ls condition now actually existing in
lingering aud late results Of tho panic laa fal Tho
past sears business, though not by any means hattor-
ng III its extent has been Of Tho safest for many
many commercial suspension. m for 1a'lla,e tic
present asosl yoar At leaa Mcsars Patton Co.'S
Few recent defaults By railroads in Their July and
AugMst intereat both 81 which clasaes Of faufe may
astso1s porioa. Tho qnios Or rather dn busnssa Of
tue ~1ntaF spring. and s1nmor up to lie present. Ii
tho OUTCOME Of tho caution nsplred among bust
~ nssa ,t1s, ,m1Sn, under The eonserva.ivo influence
merely 70 meet tbs Immediate demands of trade, and
nothing beyond IT,. In many hundreds Of instances
It is undoniabls thst numerous rna who now brpatho
freely were thcn 40 terribly crippled tAt their sur
v1sa was extremely Irobenatical Tho most serious
nlent will carry Tho business community Into fnr
weather. though any attempt to stimulate artificial
activity this fall might bring recurrence Of calamity.