, 1874-11-16
MONEY AND co MERGE.
FINANCIAL.

l1AN[ANN1lkAs -
SATURDAY EyEsiNa, Nov. II.
As whole, tho business OF Tho banks hns
been good during the wock Just elnpeoa. Ap
rllcations for loans 1avo been, though not press
Ing, numerous enough to glvo employment to
fair proportion Of tho HulpluB funds. I'ho pao
crB linyo >tla1c tholr arrangements for tho sna
BON, but tho mild weatAor Tint Inns prevailed has
tnterfored with thgir operations, md lnosl
of their funds in tho Chicago banlss
havo lain itllo. There has boon nutficlent
activity in general business to keep tho bank
outlook cheerful. Their discount limo Ia ropot-
cd hy almost oil tho institutions 10 10 steadily
increasing. Mcrchnnth ofror fair amounts OF
commercial paper, Which arc worry readily dB-
counted If good.
Tho prolonged nnd agreeable fail woathor Inns
hold back tho tradu In wintor clothing md heavy
dry goods, boots md shoes, mud Inns also checked
the operations OF tue rnckora. Tho change to
cold weather in tho middle OF tho week gavo MI
immediate stimulus to nj! this business.
Ono immediate result Of tho cl,aneo was tho
movement Of hogs to tho city for tho packols,
md consequent flow Of currency to the coui1-
Try. This douJlo movement IL expected 10
reae1, large proportions during tho coming week.
IL has depressed tho rhto OF Now York ox.
change from tho opening quotation OF lU@75o
premium 10 NJ, oqual DISCOUNT Tor sl.DOj bo-
twoon lankH. tho rn.e at which this wook closed.
Shipments Of currency from Now York West
will probably DO seen noxt woek Tho raokera
havo al get drawn little or no Eastern exchange
kgainBt shipments Ut proviatonH to Now York.
Many Of Tho country banhn hnvo thrown OK
thange OIL tho market by drawing ngainst their
There Inns boon little borrowing Of tho banks
by tho Doatd Of Trade mon tas weok. Tho d,f-
ference botweon casi wheat md wheat for Do
senber delivery Is only about cont q bushol,-
not ououeh to pay for moro tfau storage.
hates of discount ren.ain 10 por cont 10 ol1s-
lomcrs who borrow all tho ycar rou,ld; other
lndep0rn1ont borrowers with good soonritioa can
readily obtain concessions Of or 3 rer cont from
tho nominal rate. Street rates afo sM9lS por
sont real estate loans on 9D10 por cent.
Tho cloarings for tito week nro ;sa5 sa7, ,7lo.20;
Ind lilo balances $s2a9, 25l.o6: for Tho sano
week last your tho corresponding hgurea arc
b1G5lG 15l.28 and 81. .55t. .G29.44.
AMERICAN HEcun1T1Es ABROAD.
Tho amount Of foro'gn subscriptions within
tho past year, ms vol at l.oudon M OH tho Gou-
lncilt. to American Becu1tloa is spoot1ly lesson-
Ing. Not u was caltcd 1p in London Inst month
OH account Of Rucl, subscriptions Of capital, al
though about S., ,00D. 400 per month has beel 10
paid mp for aonlo yoars past This mouth, No
vpnbor, nlBo tho amonnt IL exceptionally light.
The sum Of sl,i25,ooo was payable on
tcrptons to the Iowa pnciAc Railroa1
tirst-mortgago bonds, aud sa,5o0.000 ON tho Sd
inHt,, OIL account III a 60 per cent cn1l on sub
tcriptlons 10 the per cont genesal mortgage Of
Tho ta Philadelphia 4 lleading 1lallroad Company.
These snms. aggregatlng 100, roprcHons
tbout all tue reHuurceH for drawing innnce bulls
during this month. THIS ABSENCE Of now cor
porato loanst together with tho return OF Bocuri-
ties from Eutcpe, aro among tho chef ca,lscs Of
tue exceptional strougth iu Our foreign ex-
thangeB.
VIRGINIA INDEBTEDNESS.
AZ the recont conference between the Governor
and 1reaslrcr Of Virginia and tho holders Of the
bonds Of tint Slate. at Richmond. on Tuoslay
last, the opinion was expressed that, n0twith-
standing tho reduced aud impoverished coudi-
ton Of Virglnin. taxntion sutllciont to pay the
necessary e1penaos Of tho Stata Government,
l'r funded and two-thirls Of tho unfuudcd
debt. can DO leYied without serious
Inconvenience to tho people of tho State.
This, it Is beloved, ba effected by legislation
providing for the prompt payment OF per cont
interest, US it falls due, al points accessible and
convenient to tho bondholderB. This will resnt
In retiring Is or 80 ror cent Of tho tax-receiyablo
est, aud TINT only tho coupons from tho bonds
held In Virginia will bo used III payment of taxes
rHE DEFAuLT1Nd VERMONT CENTRAL RAILROAD,
Tue tirst-mortgage bonjholdcrs Of tic Vor-
mout Contrai naliroad, defaulted pavmont Of
bonds and interest silsco 1861. about to fore
aenco to the iirat-mortgase bonds wero $780,
GoO. notwcon 1857 aud 1879 Receivers la,l III
creased tho liabilities Which Woro regarded by
them aB having prlor claim to tho tirHt-nlortgage
bonds to the bum Of about Il, 900, TOO. Gfho
tirut-mortgage bohdloidars now propose to Oh.
Tain foreclosure OF this mortgage. which can only
be done by applying to tho Legislature Of YER
mont for Ill net of Incorporation. A committee
of h'ndholdera las boon appointed to pursue tho
matter.