, 1874-06-19
MONEY AND COM MERGE.
FINANCIAL.


TMuRRnAy EsE.tNd, Juno 18,
Mercantile loans nro HI falf request ut tho
banks aud arc negotiated at s@1o per cont;
bauks Of Which tho main business comes from
grain and provision mon, md Which l,hvo a large
line OF country deposits, will 70 "undcr rates"
With outsido particn having nnexcoptionablo ool-
latorals. These banks aro doposisiug money III
Now York at per cont interest, npd would lend
It horo for sixty days ut per cont Money Inns
boon lonued within tho last fow days by banka at
Gpor cont on time, hut h,,oh operations are ex-
ceptiopnl and do not gaugo tho market. As for
loans on call, tley cannot bo bnia to o1-
lat In this ,narket; rcal ostate loans are o@10
por cent; money on tho streot is s@1a per cont;
on tho Board Of Trade, money can bo Ind for
carrying provisions 1t ror cent.
New York exchange waa par to 25o premium,
between banks, Tor 81 900.
Tho cloarings vera $4,000 900
Soma ourronoy Is going to tho Country ovczy
day, mainly to the corn districta.
TIE IRON AND HARDWARE TRADE OF CI1oAoo.
Ono authority oaimates That half the furnaces
Of Ponnsylyana nrs blown ont; th!s is no
doubt an exaggcration, but overy ono knows
that the production md manufacture of iron
Is IN DISTRESS;
orc iB nov selling at pittabnrg for 90 ton thnt
brought 512 a year ago. Tho prices Of tho mRn'.-
years. In 1879 the card prices Of tho ma,'u-
facturors for flat bar.iron, to tako an instance,
nero rut at TO III 1873 they woro $50; IN 1874
tho selling price is about ESQ: lron merchants
throughout thu country have beon carrying thelr
ntocLs on falling market. A ilourslling bnsi-
ness unt1or such circumstances WaH imposai1lo:
Tho leading iron men Of this city believe that
the bottom llas boen rsached, aud TINT. slnco
ovorroduction and tho full in prloes havo
rnH uauAL CORRECTIVE
Of stoppAga Of production, thostocka Of Iron now
on hand will eoon bo used up, aud the business
royro. Steel mills. IT may DO remarked, ara doing
track being large. Many iron mills have conttn-
nod to manufacture, although at loss on. every
ton. Iu the Lake Superior district the furnaces
nro going becunse the propriotora haven't tho
money to pay OF their workmcn; at EHeanaba
the cribs arc full Of ore. the docks are hoapo1 up
WITH 1t, tho onts full Of it, and all The traoks
nre blocked with cars. ......
Taken altogether, tho sales Of iron arc re-
ported by the leading honsos Of tho city to bo
HAVE nlsEH CoSeDERAnLT ABOVE
tho quantities Of last year, but values, ga shown
by tic prices giyon above, have declined.
IN heavy hardware. like that for inc nse e. OF
been good, though not equal to that OF 1873.
Farmers aro buying Wagons and cnrrlngoB na
freely rs they oyer did, sure plEn Of their good
cundltion, and the reenlt ia acen in tue prosper
In general, hardware business
uAs BEEN GREATER III QUANTITY
than thht of the first hyo months Of 1878, but
not In value. There has been a largo full iu The
and ehoot iron, aud tho. demand. although
greater, haa not been enough to reatoro tho BAL
onCe,
Country merchants arc buying, In hardware
with the samo caution rs in other nrtieioa,
There are many orders. but no largo bills.
fDI1,EGYIONS ARE GOOD, EXCEPT
In tho Lake Superior aud Michigan ln1nbor dis
tricts, whero they are prosractod M usual. New
customers are not reported to hayo mado their
appearance in any number. Tho iqcreaac, in tho
quantity Of aales ia duo to tho tact TINT cus-
tomera who used TO buy occasional lots
iu Chicago, but laid in their main Stock at New
York, aro now making their entire purchases in
this city. Tho New York hardware houses report
obselyed that when, as now, trade in
NEW YORK SUFFERS, ci1cAHo GAINS.
Wher the market Is falling and sales arc less,
md tho country merchant wants to buy in small
ing IN rricaa, for this ia really cosor market
than Now York. For many years tho tonacncy
OF tho country trade has been to buy light and
buy Often, aud In a. corresponding .dogroo the
trade Of Chicago has lmprovod and fiat Of Now
York grown wnrse. Tho traun lind that custom
snos secured in this way
NEVER GOES EAST AGAIN.
Tho Illinois Railroad law has boon hurt to
ihe hardware interest Of Chicago, particularly in
po1ed tiIom in many capos to abridga or Anoriiico
3heir proiits, but has not lost them any trade.
III tho city, rotail trnde hRs bnen poor, and the
1obbers consequently discriminate in deciding to
khom to soil.
COMMERCIAL. FAcY11TzEs OF BALTIMORE.
Tho Nov York Journal Of ConlD,erce quotes
from tho Baltimore Gazette aonlo comparisons
botwcen Nov York and that port. claiming that
baltimore has tho shorter inland lines to tho
fru 4rrkCA Al4k%
lre correspondlnGly loss, and that terminal
thargea for delivery of oil through freight,
Incoming and outgoing, are considerably lover
than in New York. It adds that even in regard
10 imports, tho case and dispatch with which
they can bo passed through our Custom-Houso,
tho comparatively light cost of oartage. and the
almoat pcrfeot freeto1n from those delays, all
noyanccs, and sxactions that have caused the
Now York Customs Homo to bo looked upon a1 a
den Of Hharpers, blaokmailera, aud thloyos, have
lod already to tentative experiments on tho part
OF New York merchants of importing through
Baltimore, instead OF thoir own city, and in the
several instances in which theaa transactions
waro made, tho rosllts arc said to have bear
been demonstrated over aud over again
that OF two Invoices Of goods shippec
from tho same European port-tho ont
invoice by way Of Daltino10 and tht
through Baltimore will almost invariably reacl
their Western destination in advance Of thoB
sent by way OF Now York, and on many occn
Aions will be received by tho Western imports
before his other invoice has baou roIoasel from
tho clutches OF tho Now York CuBtom-uous
officials. Tho Journal adde:
There IL doubtless enough in theso alloga
tions to strengthen tho efforts making to cheap
en- tho handling OF produce here and it's trans
portation hithsr; whether anything eau be don
10 make tl9 cuatom-Houso less III obstacle t
commerce."
BONDb AND GOLD.
Preston, Kean l. Co. furnish quntntions 10
Government bonds and local securities, as TO
ioWs:
......... BuHinq. Selling.
Uhited States 6-aos Of 'G5-Janu-
aFy md July.... ..llDA 1l0
Quilted Htues 6-2us OF 'l7-Jaul-
NJ MI 11tv i1n3t