, 1874-07-11
MONEY AND COM MERGE.
FINANCIAL.

FhthAf EvEs1No, Jn1y TO-
With Tho best Of fooltns iii oyory direction
sho money market ls growing dull Tho aalma
tion that follownd tho adjournment OF Congros
ana proved temporary. Thore III no reactions
simply rotnrn to tho quiet that nlways mari;
tb!s portod. 1}ilsinoes In tho various deparl
ments OF wholesale trade ts guud, and tho pron
leo for tho fal Ia the brigl,ost for many yeare
The ratio OF discount At tito banks, ge.,oralty i
10 per cont. With occasional concuss,ohs, On,
or two bhikB nre d'acou,iting Mt lower rntos OF
short limo. On t''e sttoot money liz sD1B POI
cont; real estate loans arc 0@10 per cont.
Now York exchaugo IL fr,ner, anil sold to.f1ay
at 25c premium, for $1,000 botween bs,iAs with
little offering.
Hcnty Green obaum L Co. quote foreign OK
bl211i Frankfort, 4l@4l4; nor1t,,, 71slGD72yk /,
Hamburg and Dron,ou, 06Y&@noAi.
Tho clearings wore e5.8uo o00.
The International 1,ank haa declared per
Tho banknst!ilioso inu'e of "" " T. i. Thornton & Son.
of ehelbYyi!lo ILL.,, which pale off its tlopoaitors
and closed ta doors 1, last 4 Winter on account of TIC
business. Tho namo OF tho liru III unchanged,
and ltB affairs Will be utlhur tho management OF
Msssts' tn, IT; Thomas #. aud YIN; .. Thornton.
uce ase oos1 ssfessHs q Sow T Yo hs Aean 1a
port OF tue closing Of that establlnlI,ncns lIo
aays TINT tho Government work was withdrawn
aeyeral mouths aince, at which tilno many en-
ployes wore eisetlargad, and TINT the regular
business Of tho Company, principally for foreign
Goyornnonta and Institutions, has uortinued
since without interruption, and without anv ma
terial reduction Of fotce,
THE WISCONSIN nA11laoAD Law DECISION.
IEo deoBton Of tho United States Circuit
Court at hladaon, Wiz, refusing the Injunction
sought by Tho Chicago & Northwestern ftRilrosd
70 restrain tho execution Of tho Potter Iaw, las
neen an important event in stook cclos; brt, as
Calculations linvo been mails tT shoW
that the result Of tho enforcement Of
tho law must be another panic
since II would loavo the rnronls.in the s,ato
sonda,-a state Of affairs that would Load % to a
general break in tho mal lset. This is not likely
10 DO the caso, for several reasone A taniu Ii,
n. That ita namo in,plies, gonerat terror wo had
inE from 1T and its pressure is felt every ay In
aiiicrent drtctons; hut the fright Ia not l,kelr |
to be repeated. We're all tho loss to result from
the enforcement Of tho law that tno rail-
Ioaa company claimed In their statement
Tor general scaro ~ tile situation OF last fail.
On tho contrary, certainly did. Great rs tt would
oe to the companies, it could not produce
national calamity. AS amatter Of fact, tlo peo.
plo OF Wisconsin probably havs no intention of
compelling the roads to run Mt a loaB. Tho Ley-
mature moots next january, and to them tie
companies can appeal for reireHs against any
denonstrated Injustice tint has boon done them,
ihe chief canHcs Of rallroad unpopuasity are tho
arrogance with whcl. they treat their customers
anu tho knowledge TINT tloy aro often controlled
~ Rugs within their management which emf m
Tho earnings and toes the stuck around Wa}l
aMtreot \ The people Of WISCONSIN can yerv casiy
@ ind tue dividfng"line between n,aiptcilanco 81
'oads. ~ 'Ao '"1'-
>, Iha natter has htill to come before tho Un1te1
states supreme Coult, which ia at loast likely 10
lohy the application Of the low to inter-stato D,
anu the next session Of the Lcujs- I
aturo may entirely abrogato or remodel ihe q
sw' It is too carly to predict general panic "A
he result Of Improbable local business bv ona ! +
+ two Wisconsin railroads for one, or even two.