The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1874-05-19
&C EAST WESTINGHOUSE:
Adams 81 Hatch
FINANCE AND BUSINESS.
GENERAL MARKET REVIEW,
MONEY NOTES.


Inc Journal Of Commerce deduces from
the reports of the comptrolle; of the curren-
CIV that the additional circulation has been
distributed among GIL banks In thirty differ
ent states, sl6, 900 900 among banks organized
prior to July, 1870, and sSS,OOOOOO to banks
organized since that time. Applications re-
-ceiyed for the organization of national banks
$40. representing about 100000 capital.
OF these 10, representing 81, 900 of CAPT.
tai. were granted, but the applicants never
completed their organizations. Eighty-three
applications, representing $1,000, 600, were
filed for future consideration, and 2OS appli-
cations, which stated neither the amount of
capital nor of circulation are at present on
file. Within the year following the passage
of the act an amount of circulation had been
assigned to Ohio, Indiana, Kansas and other
states which had 30 far exhausted the appor-
tionment that it became his duty to de-
cline many applicants from these states and
to give preference to other states which hal
greater deficiency, as required by law. The
act required new apportionment of S54,-
1000 on the basis of the census OF 1870, but
the census of 1870, but the census returns
were not received until late in the summer
of 1872, and many applications were deferred
Previous to November, 1872 the entire |
amount of circulation had been assigned, |
and additional applications could not be
granted except upon the failure OF parties to
whom the privileges had been given to per- 4
feet their organizations within six months. !
of the s54 600 900 authorized by the act of
July IL, 1870, s24, 773 ,26O had been Issued on |
November 4, 1871, SIC, 30 during the
year endir-- November 1, 1872, $685.. 479
I'm the wear ending November ,lSl3 leaving at
that iate s5,649, 05l unissued, aud the comp
ssolier gives it as his opinion that the whole
of the remaining ctrculaslon woutd 81 na I've
monetary crisis Of 1873. Even if the whole
amount Of circulation had been isssvu, II |
would not have been il his power without
supplementary legislatlen 10 wltndraw the
fircti alton from the states In excess in time
to supply the demands from the states
which were deficient. He calls attention to
the bill now pending giving him the necos-
sarv authority for such redistr,hotion.
Saws the boston Globe: The Chinese mer-
chant now contemplstes Ais pile of Ameri-
can trade-dollars with satisfaction. The
Chinese commercial mint has found this
new trade-dollar to be full worth its face,
and. like the Mexican dollar. 1t is being rap
idlv absorbed, to disappear from the United
States, totally and absolutely. Inc Ameri-
can piece made its appearance In the chi
nese hongs almost unheralded; It's bright,
finished look operated as a good introduce
ton: it has proved the "open sesame" to
Chinese storehouses. But now the British
Government. we are told, comes forward and
saws that it is disposed to go into the trade
dollar business itself, and demand goes
home from Hong Kong for coinage OF that
description. It is CALLING that an American
token should be the circulating medium
in an English colony. So we are likely to
have competition in the trade dollar business.
BUrrER-THE WESTERN PRODUCT.
The market for daily products for the past
week has shown a slight tendency to n c.
reation from the strength of two or three
preceding weeks, when the supply OF the old
crop of both butter and cheese had become
GENERALLY exhausted, and the new was in
sufficient to meet the current wants OF the
trade. Although there is but very little ifany
snrnlus as vet over these current wants,
vet there is a general disposition on the part
of dealers in both butter and cheese TO mar
ket their rece.p pts closely, in view OF the TACT
that the quality of both articles becomes
better from day to day, aud that soon grass
butter and cheese will be on the market ana
render Dresent receipts unstable except
ala sharp decline. This has been the
principal cause of the concessions made
In the last week and not any surplus OF
stock Of any account even of butter, while
the cheese received have all been cleared up
by both shippers and home trade. There mas
been however. some increase OF receipts OF
western butter in the past week, as we indi-
Gated would be the case some time since SO
~oon as the local western markets were Tiled
up, and we may now look for steady IN