, 1874-05-21
MONEY AND co MMERCE.


MONETARY.
WEDNESDAY, EVENING, May 20.
Thore WAS nothing moro than falr business
+o.dav At Tho banks. Thu counter bussnosa d's"
.,,,v. ohout tho sn,ne activity from day to day,
H. nreroue au,ourta Of money are deposited nna
c1,coned out; but tho now discounts mndo aro
fow aud not important. A number OF NOR
ch,nts aro found to DO aiacountinB thess owA
nauer the diainolinatlon to borro" !afgoy Is
very noticeable; tho banks have all aoanaance
of funds, but there Is no demand 10 aohoip
them. Theso arc tho facts OF tho MONEY -marAot
In this city. Any statements taas money
ia scaroo or TINT 1t Is dlahcMlt 1or
wan with ore1,t to borrow are untrue: Tho rate
of d,Rnuunt tp B6Dlo per cent, according to tho
circumstances OF bank autl borrower.
Nav York exchange was firm between banke
.. oe pEeau% for .cont m eaunl 70 liz to
nreannt rm"nSy = nrenin. ] Tho rccont movement Of
currency to tho country was expected to % reduce
tha 1,rico but haa not had TINT effect: Tue maan
cn,,so Of ta ilrrnness ia tho light shlpmont Oh
mnent by rail during tho winter. The recent
inrao purchases Of exahango-about 81, 900
by tie city did not giro mora than temporary
support to tho rate. -,
baum & Co. aa follows: parie, 5l5 to $40,
frankfort, AK to IL Dorlin, "a to 72a4 Ham
blaa1Tg, s; bremen, 90 to o. st'flfns' 4SS'5 to
'1i TIie returns Of the Clearing House $780,
fnaulry among tho bankers Of tho city regard
ipg the Senate Currency bill roveals m appro-
henson that tho provisions Of tho bill concern-
Nov York. AB wns shown in this col.
umn last Saturday morning, tho amount
tba. It would compel city aud country banks to
wtharsw sso Nw Yof u Of
but lie not Withdrawal Of e25, 755, ,oo5 from Now
York, il iB said by tho bankers referred to, would
paralyzo tho trade Of TINT city to en extent TINT
Of country doposita would OCCUR whom money 10
noat activo In Now York.. On tho other hand,
Tie bunk statements Of Feb. ~ showed that the
Now York bnnks hold go. 100000 Of lawful
moro than would be required under tho proposed
law. This would enable them to meet the drain,
and still have surplus for active circulation.
Tho I!i'sots etaats- zeitung Of yosterday, refer
Elias Groonobaum and tho firm OF Henry drcono-
baum Il Co.. aaya: '"rho advertising columns Of to-
days Illinois Slaats- Zc{tnng contain an announce
ment concerning the banldng-horee Of Henry
Greenebaum d Go. which is Of groat interest to
tho businosa community and the public general
ly+ It rofora to tho union OF Mr.. Elias dreeno-
baum with the firm. as also with their New York
house, Greonobaum Bros: l. Go. These tlrms al
tG1oJ et1on9 t1@ "eN',-3t 80 - eE 49,
stfenGtHened by tne aaditlon OF conslooIauio
capl1al, nnu co-"olAe1 W1ose ta, onataactos, pust-
ness experience, aud peounlary position are too
we'll known and appreciated to need any praise.
Tho consolidation or such forces is Of the groat-
est value to the community, lnasmuch as by 1t a
lrst-rato financial power is created. which stands
uno1celcd in solidity aud honorable buaineas
management, mud OF which the Germans OF CHI
oago mar bo Justly proud"
m.. 1r WEE ssS1a 1;,,, nn AoAaS. .e,,I
Mow autM !, T. m t,.n
Lcu sIya ~ s 10 @ tn orsr
~ eGonJ ra,. "uI Xii n .+,a,ao5 Iii Hal
~! e % @ ~; 10 th"rat,ro ~. ,,asa -
ee ~. a lis;s .s ,;d tn ~ i,, w. "
~ ~ .uo - "th nnt ~ ~
n,ha 'oav n11on !" tan,io,nv @ ~ ti,a Xii ns
on,eoa IT, nn ~, ~ iutiot;o,, ~ ", - NV liz H.
cnror nv aonhiptry in tha nrrunant nof thna,
who hold ns Te d. tint It actnalIv means en1,-
trac,ion " '
:. ret,irn tn anocfo navments certainlv tnenns
san,roctinn. Tho Inf I6oka in tho dirsotion Of
snncie noynorte thcrnforo townrda contraction.
IN tho ist div Of July 1878. tho eraonbock viii
bo oxchanreablo for 4 rold bond nayinr 415 nor
reut intereBt. Therefore, tho groonback viii
thcn bo worth at least % conts III gold at that
ttuo for the reaaon that noaY a pcr cent bond
ia worth 1gO in gold Hence too the uroenhncl,
wal BE- @ III 1as n IN oaF
Eal oe Mottn inc same, ana Inc wno1o volume OF
L Ii Is Certain hat # tho nnth section Of the biIi
wont into o11ect to-nlorrow. no one would o,,es-
lion tho contracting influence. Tho provision
ssehango @ tss cent IL ah 5 be- easaad
py the Secrotary cannot haye tho effect to d.