, 1874-09-07
MONEY AND Q0M MERGE


TINANIAL.
uNpAr EVENING, aopt. Q.
TIN n,ovomcnls ar 10 money market we're ir-
ronular nnl uucorla, durlnR tho past woox.
In tho;r morcantIlo accounts. Tho banka lave
found m imrrovomit day by day. Iho gohes-
nj whocealo bustuca of tho city IA uhaono'ca1y
doluN we'll, aud tlo1oct Is Of course !o'S pro,
nortioualy In bad'ng oporations' Iho fetai,
trade usunly hsatoha WIN oopteninu'' NV
t,,ia month I,ns len no exception to tho rule.
rrlo nmn,,ut oruild1ng that is now II progrcaa
throughput thufty Is worry groat owing 10 tho
ol,oaraesu Of ybor and n,atoria and tho natural
urowt,, nr Cl5ago and tho disbursements thus
fna,Io utlli tttho general activity.
IT, tIa h,lunas Of tho grain l,anla. tho oifooS
Of tue uejrasod prico Ut wloat Inns been nlaiiI.
Hi,ere la been no money in carryging wheat
snd tin tmn,,d for TINT objoot las boon small.
si,jumo,s have alBo diminished. DoPoaits boz
nan tn in down abnut Inn dnya ago. but tho
promls which, TINT time he'd ,,a! nnt haa Mot oeell
ara lthnr than tley wcre month ago. Nancy
ean { borrowed OIL call in toae places at Q por
cel with Governments, OF aoniohttg aa good, for
1horo has hcon a considerable dcmand for
1onoy from those who had acorlet1 taxes 10 pay.
Now York exchange ranged dnring tho week
from 50@2to discount between bauka for ii, ,000.
The orders from Tic country for cutronoy lnva
lighter o., others. on tic wlolo, tho inyoat-
mont for tho week las bcon light, aonlo Of tho
banks With tho largaut country balances report
Ing their receipts abont tho sa'no ny tllefr ORDERS
Applications from country Banks nro coming
to tf1ulr correspondents hero fur thu rnlscount
Of paper OIL which lhoy l1nyo loaned money to
country merchants mud farmers. Tho farncrH
aro borrowing, in order 10 nicet thoir expenses
without selling their whoat at sacrifice, md
tho merchants aro borrowing, because this policy
Of tho farmers imtorForcs witl, their collections.
Thoro IL very little ontsilo demand for money
OF aucl character US tue bnnls think 1t safe to
supply. Tho limo OF negotiable colatcraIs Inns
been narrowed worry much by tho panic md tho
subscquont iiquidationa Bontls and sacuritios
freely tasen as tho basis Of 1oana ycnt ago will
not be looked IT. now Money ls easy Mt thu banks
to borrowers with tho proper security at 2903
per cont helow tho regular ra:e. Rateu Of dis
connt remain unchanged.
The oearingB Saturday wero $1,000, 900. For
tho week they were S2I 1885, 4l245, ana tho
balances s2, 793, ,90o.3l, against S3l, ,637. 727.3s
and 52, ,S37 .322.20, respectively, for tile corre-
spending weeks Of last your.
wEBrEtN UNION.
Tho Wehtern Union Telegraph Company have
DECLARED dividend Of 4 por cont for tho quar-
tor ending 3oth inst. payable Oct. ID. When
bo the qso not pos 81 Of ta es s 8
wcro estimated at ahout' sa7l0, ,0ao. Tkoy t,lrued
out to bo s7G2.ooD, or a,6oo above tho esti-
matc. THO dividord of per cont took about
lEl&flLS T0f}upU u EAlt5 UlHu4u+ LILO
net profits of tho quarter now ending aro cstl-
n,nted ut :825 900. or $3.50 900 mora tl,an ugh
TO pay tho dividend. Tho surplus from the busi-
ness Of tho two quarters will then amount to
$237 600, md Will provide tho November interest
{Hix montlis) upon tho ConlpaMy's outstanding
bonds, some 90, ,0000 600 n amotint. The transfer
books will close OIL Saturday, 18th inst; mud tho
clos,ug ia preparatory MT ouly to payment Of
the October dividend, but to tho annual election
Of Directors Oh Oct. II.
CURRENCY DA1AScE.
Tho currency balance In the Treasury Ia now
s1e.G9l 900, having 1, sdteendy iuoroaaed to tlat
amount from S3, 72S, 900 six mouthB ngo. Tho
coin balance in gold belonging to tla Gayern-
meut is about two millious leHs than the amount
held ayanr ago. -.. ......
AUGUST CUSTOMS RECEIPTS.
The public debt, according ito tho August
statement, wns decroased dnring TINT mOntl
$1,G26,7C6. against $685., s29 III August Inst
yoAr. August iB Utmost invariably tho heaviest
month q the ysnr Ter slst0s aon nossets Which
the samo month in 1873, a decino Of 10 per cout.
This difference ia attributed to tho fact TINT in
February aud August great proportion Of tho
duty-paying goods imported consists Of articles
Of luxury, which lra not in demand this year rs
NATIONAL nAxK-No7E REDEMPTION.
correspondent OF tho Now York tribune
writing from Washington, Sept. l, asserts that
Treasurer Spinner is threatened With summary
interruption on account of tho exhaustion OF tho
pcr cont greonback fund.- Tho grecnbacks
which the Nationai Banks aro required accord
ing to the Inv. to aepoBlt with the Treasurer, to
the amount Of + psr cent Of tleir circulation
from redemption fund Of Sa17,000, QUO. The
redemption agency organized by TroaGuror
Spinner Aas been II operation about two months,
aud ho now tinlh that his greonbacka
arc about all gone. He could replensll his
stock wero 1t not that according to all inter-
probation Of the law given by himself tho banks
have tho option Of responding with groonbacks
or bank-notes when lie calls upon tlaum to make
good t4oir S per cont reAoryo. Tho Treasurer
Qnds himself at the end of Two montha' blsiuean
with nothing to show for the SIT 0p0 000 ho haY
go industrtonaly gathered from, tlo 2,0D0 banks
Of the country but MI equal amount of ragged
and dirty bank-notos, Sumo in tue Treasury
vaults, some In Comptroller kuox's safes, son,e
Oh tho way-bills OF the express company, lnd tho
rest in Mo li!s and boxoa of tue new redemption
agency.
Tho rL1;sn fact is. That tho sroenhack fund l,as
nwind!ed TO amost nothing by tho procces us
bcing always depleted aud llovor replenished,
md tho day is not far diatsnt when REDEMPTION
must ceaso NY reason OF tue axhauHtian Of tho
Broehbacks. unless they aro renewed in some
other way than tint contemplated in tho law
Notwithstanding tho low cub Of tho fund, tic
Treasurer hopes to keep up tho present sickly
semblanco or redemption by calling upon tho
bRuka, AZ fast ns ilo Gun aBaoIt their rcdoomnd
notes, to mako good tho amount OF grcanbacka
they arc obliged to keep in hia lluuds "a re-
denptou-fnud. AS their rcHponBes, however,
may be 1nado i'll hank-rotcs, regret is expressed
that 10 per cent rodomptjon-f,lul waB not pro-
yided bY C0uGresa instead Of + per cout
BONDS AND duLD Y0N THE wEEK.
Preston, koan t* Co. report the courHe Of Gov
pruMeutB EOfG etc.. inr to weak enj]in+ Hant X I.