, 1875-03-06
MONEY AND COM MMERCE
FINANCIAL.

Thera xss m change in financial matters. TIN
banks report that they arc doing A fair atnounh nf
lsincBs md Joaning much n they can put out ut
this acaaon. Tie mercantile demand Tint Ia fell, Is
mainly ttuc 10 hs interruption Of collections by The
cent storms. There Ia sill board Of Trado demand
from parties who have ktu to carry, although most Of
transfers Of grAin provisions have already rn co-
suhnntei.
The rites Of dsco,,nt At the banks 10 rer cent
to regular customers, and or per cent lcsa u out
sido borroveEs with satsfaclory collaterals.
On tho street there is little doing. l'los arc 1oscd
1t per cent Oh cali 10 Is per cent IN lime.
Now York exchange waa Armer at par 10 9sa dis
count between banks for $1,000.
Tho cleartngs were $,,5N7,Fh1.
Nuors havc bcou In circulation OF lale affecting Tho
standing Of tho Ninth National Hank Of New York. but
the officials Of Tho bank give their assurance that tho
institution ia in honA condition. fyso Co., who
recently failed, owed tho hank considerable sim,
which Ii regarded atnp1y secured, but fthls
amount rho, prove total loss, which Ia by
probable to capital and surplus Of the insiuou
ample Ia protect a creditors. Tho Link Examiner Ia
now engaged III III narcrtton Of tl,e bank, an hia
port will, It Ia nssertel justify tnr nbuvs declaration
~ 10 entiro aolvcnry.
Tho Dank Of Franco has takon another stcr in !ta
policy Of diminishing lis parcr from circulation, u
order to rcHnnc Frcctn r.yncut. Having already for
Bono time ahstar from reissung 2Df and 2if hotcs,
bcsiles notes Of smaller tiennI,nationa II Will now
Ahs.aln from rclesuny 61f notcs we'll. The Iasuo Of
tut notes to e thus dealt will amounts. 1t IL stateI. 10
hhout ClH c0o030. 1t Is aIso a.te1 from Paris that
preparations heInE inallc for Introducing BehcMc
10 convert tho per ceA Into ~ rcr cent rentcs.
The berlin Horsrn Z,st,ng statcsthat ilc pro,nul9a.
tion Of the new BAnk law converting the 1,ank OF prls
sla into the Imperial hank u derany, mud anbjecng
II md ner banks 10 certain restrictions III
their notc isaoes, will take place Immediately.
Az tho close OF business tho san Francisco Stock
Board, Feb. 25. ophtr was still at sso l'ea' Bcleh-
CT. {47 California nj s5sko, aud Consolidated Virgin
IN at s4i5, with more bidders than reera for al Of
them. The following were tile laleAt h!ts, no saIta
Tic figures being glvcn by Child Iaguirc'd llat
Alpha, SIS nc1eter, salso; Caledonia, SIS; .Cho,lar
fss.53 Grown Point, $a7 Gould (cnrry, SIS; Halo
Sorrros', ssa; Imperial t7.3716 Justice, sss; Kcn-
tuck, sit.5o; Mexican. tasa: Oycruan. sio.to Ray
mond Fly, sto; sarlgc, $lU3 Sierra Scyads, $ly;
Yellow Jacket, III.
CONTRACTION or THE CURRENCY.
It appears that the Resumption act nny work
contraction III the volume Of currency In tho Gnc,t
States. II IL understood that tho withdrawal Of cIrc
laton ty National Danke Ia Of tho atp1lea~
tIons for Increased circulation. The Comptroller has
received applications since the passage OF the Rcsun
ton net. Jan. H. 1915 for SO 000 Of crcu1a
tton Willis since t1e passage Of TIC act Of Juno 20,
1874 sl23ts,000 Of Legal tenders have been deposited
for The withdrawal of circulation. There nu iu.
In 1874 Of National Hank circulation Of sh7t
27 according 10 the report Of Tho Comptroller Of tho
Currency, but the Indications that tho balance Will
bo on tho o.htr hi,lp for 1877.
contraction Of tho grcenblck circulation is also In
operation to he amount VI 81 cont Of all Issues
Of National Uank circulation. From Jan. H. 1876
Ia March l. t,o D,ntipr Denpr,ncut of III, 1rca,nrv
has Issued s.coG,ii5 Of new bark kclrcuasiou hnd 10
per cent Of this, sl,2a31o0 Is tho amount Of legal
tenders 10 be withdrawn The utal amount Of Grcc-
,,ca IN In ,xit,r,wn viii ,,ennnd ,,non inv ran,J
tie balance Of tho $10 GOO Of circulation ar
piled for ~ taken up, and how Largo Is the amount Of
new circulation applied for. What lila will be de-
pcnls ureut deal u,nu TIM character OF bu.ncs, II
a. .,-,,s ,,.,n.. antt,tr ,m,, a. .nn ..-,r.,,,.
'ne spring ni'hG' aeIF''y WY ~ oh" stringent
money Market o l'ank-cI'cu'alon may increase with
now secm, 1iheIv.
,.'.,...s'..
FIHAs ElAL DErHE3SIoS IN CANADA
TonosTo, Ont, March 1.-The t:iu1s, III Its money
sr,frln lila morninv aars-
4 .ana.. ,a,.se.t.. :, H., ,,.,, ,.,..,.
=, sesSaS nI,,nn ia is. ~ t.1 n ~ ,no'"y hsSs %
taa pei9.!Vn nas osSn s'.nE ~ apI etupso np
s1oa d,, ,,n,;n1s @ ,tohar tn ". ,eo
Heau a t1a."uts 'Hn'et o LII srs "io5
& n ~ c sepi y. WI ~. ] = .e'I; "Hiaet t aht =
natural couscnueuce f. ths unparalleled severity