, 1874-11-21
MONEY AND COMMERCE

FAIpAY EVENING, Nov. %.

Business at tho banks was quiet to-day. A
s''e result OF the storm, or ono Of tho fulle tina
como occasionally, tho ordcrs for currency wer
ama'ler mud tho general buainess OF the bank
was lighter on tho whole than for eomo time
Tho movement OF tho currency to tho country
stlll mninly for hogs.
Tho demand for loans Ia moderately active
Moat OF tho bapks have a comfortable llue O.
discounts, but are glad to got good outside Ap
plicatlons. The ratio Of discount, however. hat
nensbly hardened In the laat two weeks. Tht
BANKS adhere firmly to 10 por cent as tho charge
1or time loa,ls In ono or two quarters m or
copttonal borrower with choice securities csn
obtain concession Of / or per cont from the
nominal rate for short timo, aud especially for
call, but tho peculinrity Of tho market is. tlsat
tlorc aro comparatively no such borrowers.
Ihotc Ia no aucb market rate for foaus as por
cent for four mouths.
Tho diininutlou Of ordors from the country for
currency mud tho arrival Of currency from Now
York have checked tho dealings In Now York
exchange to somo oxienL. Tho quotation to-day
was tho Same as yesterday, 50@75c discount for
$1,000 between banls.
Tie eIenringe aro 81, ,000,0 600.
The movomont OF bullion to tic East Oil nc
connt Of tho Turkish loan negotiation. Is tho
cauao Of the recent rise in tho Dank Of England
ratio Of discount from to per cont. Slnco the
end Of September, tho Bank OF England, tho
nnnk Of France tho Bank Of Prussia, tho Bank
Of Belgium, and the Bank Of Austria havo loat
92Q.45o,000. In order to rcplcnlsh it's cash,
which has boon drawn upon most hoavily of ali,
Ale Bank OF England raIscs ita rate In accorl-
aucc with Its usual pollov OF stopping drain OF
gold by raising the rate Of discount. Tho result
Will oo to 9ttlact gold from the Coptinont in adj
vance Of the return OF the gold sent to Tuihoy.
Another active drain Of gold Inns been to Russia.
Whoao credit ls high among English Investors
and has beeu ),borally used for Ruasan railroad:
building and other projects. -
y, The examination Of tho condition Of tho
Townaond Bank, Now Haven, Connecticut, by
the Neco1vors, shows tnat its good assets nro
about 90 por cont Of the liabllitios. The doubt
ful aasets alo $500. .o0o; aud Il ia expected tlat
conBidhrable proportion Of these vii be real
lied. ' ~ Ao"'~
Au urlintentionul miatako Of ago IN q life in
snrance policy las been decided Uy the Superior
mistak ake can bo corrected even after death, mud |
tho insurance collected by tie bouoticinry.
THO SUCCESS with which the great commercial |
nonecs of this city bavo prosecuted tloir direct
the caso might be. Independent OF Now York.
nas lndncen some of tho merchants Of St. Louis
70 tnitaso tho example. Their enterprise haa
neen confined Cd in . snal way to tho South Amor
Vac rocoutly received yla Galveston from Rio do
' Janetro. md several oargoea OF Cuban sugar
have been received through Mobile. The lattor
toxn bas now regular connection by steamer
with Havaua, as hns Now Orloans WITH The priu-
cipal ports Of Mexico. Thego new communica-
lions Will bo OF groat benefit to Chicago, Which
20" has direct railroad connection Will. New Or
3neaus, and Ii stretching ont for tho Mexican aud
Icy an trade.
:, The Canadian Government Ia about to assist in
= 20 development Of the trade Of tho West Iu.
Ties with tho Dominion. THIS commerce hua
'een decreasing In the last year or two. Tic
IMPORTS apd exports IN 1879 wero 80, 775, $50; Ia
!o7a they wero sGll9,GG7. or sC55, 922 less, The
Sanadlans are very anxious 10 rotaln en5 en-
ntge the market in the West Indies for their
nauufacturcs, 1onr and rum. As ono OF tLo
means TO this end the Dominion Government has
aiied M q TOR tenders fora fortnightly steam
NJ Cltn 81. Thomas and Guiana and with Cuba
Fhe intention OF tho Government ia to 1nnintain
" mail subsidies o frst-class steam conmunIcn-
ion between Canada and the West 1ndios.