, 1874-11-11
MONEY AND COM MERGE.
FINANCIAL.
TUESDAY EvEN1Nu, Nov. 10

TUESDAY EvrNlNu1 Nov, 10,
Tho business OF tho banks continues fair, aa
consequence Of tho good condition OF tho tr"ae
OF tho city. To the general brRknoAs thore
aro some exceptions. Tho rrotractod mlld
weather, though worth mauy thousands OF dol
lars day to tho poor In tho economy 1t pern'fa
OF fuel, clothing, and winter food, haa, on tho
other hand, postponed tho activity usually soon
at tlis genson in tho purchase Of winter supplies.
ucnco thero nro complaints from tho clothing
and hoayy dry>goodB doaterB; and tho packols
tro also awaiting cold weathor before beginning
full operations.
Tho demand rom general and miscellaneous
SOURCES. however, Is enough to inpart ltbeIal
movement TO tue operations OF tho banhb. fho
purchaao Of winter supplies by tho 1umbermoh
OF Michigan and tho mine.owners OF tho LaHe
Superior region ca1la for considerable amount
Of funds.
There Is very little borrowing Of thu banks by
mcmbors Of the Board Of Ilnde. The rccoipta
aro hnanll. and there Is only about dfforenoe OF
q cent between wnoat for cash and Decon,bcT do
livery,--onough to pny storage, but not enough
to allow any froit Oh carrying.
Rates Of ditcount nro l0 per cent to customers
who borrow regularly pli tho yoar round to 9th
or independent borrowers with good security
CONCESSIONS Of or 8 per cont aro mnde. Com
mercal paper ia offered In Increasing quantities.
mud IL generally Of good character. 6troet-ratoa
nre B6W1B por cout rsnl-catato loana are 9@10
per cont.
Now York oIclauHo WIS weaker To-day. Snios
wore mado at Soc premium between banks for
81. 900. Tho ruling quotation was Coo p, om'nm.
Bhpmonts Of cur,oucy TO the East arc lessoning:
Receipts Of currency from the country and
shipments thitlior a1e Hmai.
Tue wholesome commercial prosperity that Inns
lately attended tho trade Of THIS city has had no
Counterpart in tho East but, according TO tho
New York Herald there arc eigns Of d speculative
revival there. Tint journal remarks, III lts Imam
nial column Of Sunday Inst -" That confidence in
tho future II being nttoudel by III outpouring OF
fresh money is beyul'd question: that capitalists
are allowing their faith iu al early Improvement
is fact tint caunot be doubted by those who OBJ
aervo aud analyxc tho consse OF Investment; thut
prices generally ARC advancing AZ the result Of
political cllangca, aud that ne Rre entering upon
new speculative caroer arc alsoslgna OF the hour.
-. 1t Is by TO nealIa cert1in that the iuconl-
ing week will not show lower prices az tho con-
sequence Of temporary raid yot it mny bo writ
ten almost like prophecy that within Hixty or
ninety days NO shall sec III Wnll st,vet q acnlo OF
prices thas will make csery buyer jubilant who
holds at preBont figures"
THO Austrian Fiaance Minister has just a,h"
mitted biz annual budget to the neichsiath Ho
oatlmutes tho expenditure ut So loo, ,a0o hofins
q yoar.-a reduction Of 200.0 900 tlo'ins from lust
year. One exception to tho geuoral reduction
ct departmental expenditures u in .he
case of the guaranteed railways. The ataGiia-
ton OF trade las lossnned lheir earnings 80
much that they will mood at Increased appro-
priatiou Of $4,000 florns. Tho Ba'no castsc has
cus do IN the receipts from taxes. aud tho in-
comes OF many financial aud industrial cp1npa-
MICS, The casli rcgolycs with which tue Govosn-
mont las been covering tho doteit of recent
years arc usod up, and she Ministcr--with a re-
Eretfuluoas uau9nul III Treasury Chiefs. but nj
ways becomiug-states his toar tbat ho will bo
Obliged to ,gsuo 200. 600 ilorinH OF rente.
Tho statement that 1211 1-caut piece IH to be
authorized by tho next Congress- in denied bV
Mr.. II. Y. Davis, Of tuo Mint. The idea, hohays,
arose from tho fact that, in toegraplling to The
ptess sYuopBis OF tho Directors report for tie
iaat tiHcnl year, the proposed 20-cent coin was
referred to as 12-cent coin. tho mistake being
with tho operator, not III the report. Tho neces.
sity for such coin certainly does not oslbt. A
bill authorizing the issue OF a 20-cent silver coin
xas introduced in the aenato by Senator Jones',
Of Nevada. and passed that body at its last
session. Not reaching tho House, however.
until its closing hours. it failed for want OF time
but will probably bocomo d law Mt tho next
session OF Congress-. Tho object IN providing
for such coin was to relieve an embarrassment
which has long prevailed Gil tho Pacific cuast ia
making change, in consequence of 10 cent
silver coin or ''bt" being tue lowost donom-
mated coin In circulation, our t-cont copper
nickel coins being almost unknown In California,
mid nli efforts to introduce them having THUS faz
proved unsuccessful.