, 1875-07-07
STATE OF TRADE.
Tho Banks Bnsy with tho Aecumulatlens
Of Two Days Work.
Tho Loan Market Quiot...New York
Exchange Selling at Far.
Tho Produce Markets Irregular.''Park
0ats, anl Harley Stronger.
Wheat, Lard, and Corn Easier--A Fair
Shipping Movement
FINANCIAL,

FINANCIAL.
The bustnsrs Of tho banks naturally enlarged by
ths accumulation Of Tho mails and countcr-bustnets,
hut, ~ tho cearngs Indicate, there waa not 10 much
10 bn done might have been expected. Tho amount
Of commercial and manufacturing paper that IA offered
remains small what there IA Is generally OF good
quality, and Ia toay takan At accommodating rates.
lfost Of the banks have sarplus, That will grow con-
tlderably in .le uett Thirty or Rxty days, hut they
show lto anxiety to iIsroso OF 1t. THIS IN Tor tho
two rcasons that t,cre IT, In fact, fair demand for
funds, considering tho season. ani that tho banks, ~
their recent dividends haso shown, arc donH well
enough to 10 abe tn r,rnue careful aa conservative
policy. Thore Is no encouragement hero for any
thing looking TO such expansion Of bunk Of fner-
cant,lc credits rs thai which has just broken down IN
England.
1tates Of discount 1t lho banks 8@l0 per cent.
Concesatoua OF several per cent arc madn to good
ouau borrowers will tbs best co!l&terae or tndoEse-
mcnts.
On Tho Btrent there Is but small amount OF paper
Offering. lsatcs aro 6y9l8 par cent.
New York exchange wan wcak and aold n par be-
tween banks.
The clcarings were a, 500, 0Oo
Tho feature Of tho local stock market il tho etronR
dsmsnl for Chicago City and Cook 0onn.y bonds.
Th!a laH not apparently been affected by the tax de-
cisous Of tho supreme Court and IL far outruu' tho
huppy Tho bonds arc al held At pricca considerably
in advance OF those prevailing Al tho beginning OF
tho year. Tho demand for city ceEsinca'ea aaso
sharp.
ENGLISH nASKEns AND MERCANTILE F1aAAclEh1fo.
The revelations made by tho reecut faiuras In En-
GLAND show that the banks and noncy-lcnders OF
London haye baen doing business on principles that
discarded In thia cuuntry with thu panic.
There have bcru n lack of canton and
generosity of cTttls:a that hare been 1lnknown
III auy part of the Cnted States, except,
EntE ErarcarO. fOf HCutly tlIrEN lilo
English hsd oYidontly fully rctoseFed from tho casun
of thu ranio nf 1866. Companies on hsus hut havo
tcen bankrupt for Yeari hasn leon diaconntu' lho'r
paper without limit, by sha eple proceAs Of drawing
agatnAt enc another. Under my prudent System 1t
would to bo inpobsbe for sch concerna TO pos
sess themselves Of the lnoneJ Of tbeis ueshtora.
Loasss Of aosouJ n'ons OF dolAra have occurred 10
shc faeo Of the knowledge that the branches OF tfae
TO which ahs money Has ADVANCED hau Icon uhpfone.
sblo for years. The London 17mfs ~ IN seafea Of
sotne protection for lenders. IL says:
Low much shorter would have heen the hnsneing
catvor Of the Aherdarr amt Plymouth Iron colnlants
TUG hansera WIN have nfSn 70 HEAVILY ~ ht ny H..
Of how ich OF tlal paper was iicd hy thc'r nciGh-
bors. au I tbs astet 10 which u wae forever being
renewed anu shifted from che to tho other
but, ~ IL says, bankers c1, PROBABLY, ncrcr DO In
ava N"' 'A>' P"'''''
aole Nfepess~s
AZ Gle preenutton against hia belng accepsed for
mere co'nnlish,on without a,y sa!le rtnI rseri'r'
OF sv.ly bill DRAWN Tho nature u the tr.n'ctiou ~ IL
d'nc III TIC rasc of 'nany PRODUCE tills drawn from
sill! 10 eaty but snr> osrg tho law cnabtod tho d!a
counter ot hi beating fslte ltMenella AZ 70 tite
ths mnktag 1t sach d" ,n.on. for lrsny. - nsvn,
nhtuinct TIM n4onc5 under l"la" lstsh'ts? BHA
araSss an asss'soI. woa!a probably, "F she fatF'
ta.sd on uotl'ns. -@...'.'.
Tho p{ctutu which It lrays Of tLe methods by which
III, l,ut,rr, ~ t,t,,, ,,..tos .,cy-c1 f,,,r y, ,r