, 1874-05-05
MONEY AND COMMERCE,
MONET AIRY.

merchants, deprived Of tho mcanB thoy counted
on for mootlng thoir own pspor hAVo peen
Obliged TO borrow Of tho banka
Tho rate Of discount Ia hardly az firm as 1t was
wook ugo. Lonns on call havo boon made
within few days at per cont. Money is quite
freely offered at por cont on Gail. In Ruoh
oases, Of course, It IA understood that the COL
latarsls must DO unoxceptionable. Loans on
time arc made NJ 8@1o por cont. .....
Exchange waB weak at 25a premium por 81 600,
aud sales wore made Ut par, Foreign Btcrling
exchange was 84.Ba@4o1
uBually hoayy figure for tho ID Of tho month,
Stocks In Now York wero weak and unsettled.
Tho misunderstanding betweon the Wisconsin
railroads aud the State Government brought
Northwestern aud St. Paul eacll down about 8
per cont. Gold foil to 11211S, and all stocka
doclincd sy1npnthoticallv.
Tho bauking firm OF urcenobaum Foreman,
Of tlis city, Taa dissolved to-day by tue retiro-
mombor Of tho firm Of Henry Greonebaum i Co.,
Of Chicago, and Grco.lebnum Dros. i Co., OF
New York. Mlr. Gerhard Foreman will s0ttlo the
affairs Of tho old firm, and will continue the
businasa.
Tho annual meeting Of tho stockholders Of this
institution for the aleotiou OF Directors, etc.,
was hold yesterday afternoon, The following
gentlennen wore elected Directors: J. Young
0E2nu0Un 40i0laA Huea8E4 ~. u. NlCNARR, LUZ
dington Billings, and George N. Dogue.
FOREIGN COMMERCE or CHICAGO.
Causes einilar to thoss which hro 40 rapidly
attracting to Chicago the Western jobbing trade
that used to 60 to New York aro otycrting into
tho importattonB for Westorn consumption TINT
have hitherto basn nado through New York. CHI
oago already imports direct largo share Of tho
tea and coffee which is sold and distributed ut
this point, as vo bavo shown in previous articles.
1hore is no roason why othor merchants Should
not embark their capital and enterprise In this
movement and reap oqual profits with its
pionoera. There IL money In it, and this Is as
oss 9 9es s cSesso s 10 DO e rss saFiy Il
far tho groater part, il not al, tho
foreign commodities consumed In this city, or
sent here to be distributed. The facts with re-
gard to the direct importation Of ton and coffee
haye already boon given.
Chicago has considerable direct trado in
spioes aud raisins Laat year 2, 600 bags Of pep
per, worth from $25 to $50, in gold por hag,
woro imported hither from Singapore, BY tho
way Of Eoaton. venture in nutmegs was made,
which resulted 30 prohtably. that it will DO ro-
pented thiB yaar on much larger scale. Tapi-
oca and ango havo also been imported To goma
oxtent. Three cargoas Of raising, comprising in
all II, 600 boxeB. worth about e2.50, IN gold,
box, were supported direct from Malaga. The
nnd that Of raisina to about onc-hnf Of tho on
tiro trade OF tho city in thoao articles respec-
tivoly.
Tho articles jus. specified, pepper, nutmogs,
ind coffee, which aro FREQ: They nro imported
under the law Of 1872, which permits interior
ports Of entry to import dnsiable goods without
ssoppage or appraiaemont At the coast This
merchandise passes through Boston in bulk, aud
is not subject 70 OuBtom-H House inspection Or
taxation until 1t reaches Chicago
Tho importations OF poppcrand other spices arc
made from Singapore ia tho vessels Of tho great
II
I'd in ycssels chartered at Boston by tho Chicago
importers, who sand thom to Malaga loaded with
staves.
These importationa, a. well as those Of ten
and colfoo, are all made through Boston. This
is done to escape tho onerous wharfage, insur-
ancs. brokerage, and carriage charges which are
inevitable in Now York, and for the rohBon that
much batter arrangements for shipping can be
mndo with tho Boston Il Albany Railroad aud its
connections than with the rairoada leading from
Now York.
NEw YoaE, May 4.-The Treasury aiabursed
Customs receipts, s3G1 600.
Sterling quiet Ut e4s71141 for 60 days s4oo}>66
Gold ranged at 1129s@112,4, and cloacd at
11294. Carrying rates S6l4c.
'Clcaringa, S19,000, 600.
State bonds quiet, with aight Improvement.
Railroad bonds active, aud with an advancing
tendency.
Governments closed weak, in sympathy with
gold.
Stocks opened weak, and before tho first call
tho whole 1narltot docliuod h@21S. G., G. d I.
@. led the decline on reports that tho statement
pf Capron d Merriam will not be very favorable.
During tho last hours the market wns
heavy aud prieos nade q further do
clino under freo aaleH. Tho dcelue for
the day ranged from 1D3A, and closiug
quotations wcre generally the lowest made. The
unsettled state Of tho market was caused by
Wisconsin legislation, Treasury gold sales for
May, tho House Financial BILLS, tnlk about rotir-
ing legal tenders and the rumored lease OF tho
Atlantic d Groat Wentnrn by Eric. Activity was
greatest III Western Union, Pacific Mail, Union
Pacific, Northwestern, Rock Island, Lake Shore.
mud tho Columbus, Chicago 4 Indiana Gem
tral. Tho total transactions OF the day were
204 900 shares. Of which $1,000 were n,alo after
2 O'clock. 6a!es include 81, 600 Western Union,
q, GOO Union Pncihc, 10000 Pacihu Mail, $4,000
Lake Shore, 18 600 st. Paul, 1900 Northwest
ern common, u, 600 Rock Island, 10000 Col
umbus, Chicago l. Indiana Central, 5000 New
York Central. and 6, GOO Wabash. Sales ot .Weat-
orn Union, Union Pac1ic, Pacific Mail, Lake
Shore, aud Rock Island wero greater betwaen Q
and o'clock than all the rest Of tho day.
GOVERNMENTS. ..
Coupons. S2........ii55f COUPONS, Ss.....,,lso
Coupons. r4........n7 New IS. .............1 .1l6
Coupons, 'G5. ...... .1l8K l0-49s