, 1874-10-29
MONEY AND COMM ERCE.'


WEDNESDAY EVENING, Oct. a..
Financial mastcra logged ii n'onG to-day In tho
eamo dull, steady way MS Yesterday. ANYTHING
li:io depression IN monetary circles hero like
:l,Nt 20 evident in tho East iB not to BIO found.
f1 tone OF blsineBs and banking circlcs IL
'lyuag, Mercantile incn nrn borrowing only
what they need under their proannt conservative
policy: tho pacxetB haYo begun to appear III
sol, overs OF lilo banks sone money Ia taken
by pa,tIes who aro carrying catto for tho wlnt"r.
r,der these ditfotont influences tho discount
l,l,s Of tho bans is steadily increasing. md 1t Ia
expected to increase Rtiil moro IN tho neSt
nlunth.
1latos of discount remain M quoted Hereto
fore: 10 por cont to regular customers to out
Bdc borrowors with unllnpeachAbio security
ratca ranging from per cont OIL call, Z per cont
for thirty davs and upwa'ds. Real cseate loahs
arc to 10 per cent money on tho street ls "
@Hls por cent. -...l..
Orders for currency 10 the country aro raro,
wbilo the orders to remit to Now YORK On coun-
try account arc heavy.
New York exchange was very firm to.day At
5oc premium between banks for 81 900.
Tho cloarings were S36uu000.
srocK suMscR1pTIoSB.
Tho dcciBton of tho Suprono Court Of Penn
slyvania prononnc,nS tho dissolution OF tho
Manufacturols' Mntuaf Insurance Company OF
Philadelphia, dong business Binco 1865 slaeeg
the opinion that tho wliolo subscription for
atock was illegal, IN that tho payments Tor tho
same wcro not n,ndo III money, aB required by tue
acts Of tho assembly, but werc paid in Btocks
ana bonds Of distant railroad companies. or tho
stock of turnpike roads, which in Pennsylvania
have tsovor paid my dividends; or pump COM
pan;cs, land aud sver-mining companies In dis
taut parts Of tho United Sta:es.
TIE LONDON Tis1Es on ERIE.
The London Times says in its issue Of the 20kh
inst. ..-
People ought not, Oh ahy temptation. 10 lend Eric
Rugs mora money, bnt neitlrr aloud they iumpto
tic conclusion tint what they tnay havo at:ely cut
is utterly irrc:overapo Tue position Of Erle !s Ut
best bad one. It is impossible Tint 1t could be
ntherwso; bur, at the time, II the linc
yet 10 got Int, honest hands, als IL not lost. And
there arc two thtnga which HhonlA make people sery
American ] ascoaut. Now, u An'ericans do not invest
como-that u fair allow, at lean,, Will ba brought
oywurtl before long 10 cabo tLo srcculaora to tefl
ata ro 1s y confirmed Iy Tue ~. .scSna polnt
atand, for instauve, that Capt. r.ler'a rspo,t IL
Id s g s s s tee ys walt
with lho accountants, in accardauce with LIS instrHc-
tio,s, but they declined the conference .na Aelos-
mined 10 pbitsh ineir report Aoratey II this cngcr-
to yet the oantauts report and sliat noue ps
ltors to public bc tue result II tho hnan, i,g slIas
nvod for caution. Tue s.pe cour*o ia. ns We say, to
lend no nuro money and 80 to fosco auatrs to a s-
The bonds recently pnt On tue nafkat TO- r1lse
f,eve te rcstno Of aLortyo issue. ough not 70 DO
bought. II would 10 letter to allow creditors to fore
close tlan ta things SHOULD go on as they have dono
b, willie lcutng no more pcorle need not rush TO
tue ntIrr extreme aud land over What thoy haye al
ready lent to tAt ~ beara Of Wall sttcot.