, 1875-07-29
A Quiet Day In Financial Circles,
and Borrowers Scarce.
New York Exchange Went1cr-"-
Complaints Of Collections.
The Produce Markets Steady.-.Fair
Shipments Of Corn.
Provisions Observation-Disclosures Weak
Early, but Firm Afterwards.



fall trade ns not sri ptn"l anil there Is itr EN-
pIoyment outside oF thu speculation ID wheat for tho
aurrus rnis 4hat acctnuatsng at Tho banks and
in the hanis Of private csr!tARts. DaroattA hive
hecp increasing for month longer and thu mtr-
rAntitr hrNlications for paH hays been confined rs
ly to supplying The dcr1eney in collections. There Is
considerable surplnr of !cannhls funds still in the
sartcs, wh,c,, /. on thc lookout for borrowers.
. Rates If discount at ihc banks sah yer cent 1"
regular cusotnrrs gool paper made by iltelehds''t
lorrnwerA Ia reality discounted ut rates ~ Low rs frr
cent fur SIXTY tlays.
On Tho street the -brokcra complain of scarcity
Of negotiable patcr. 1iates are i" II percent
Nfw York exchange was weaker, and sold At 1af 10
&c discount between l'a,.ks for s',""
The movement Of c.rruncy o tho country continues
mhIerate.
The clsarinss wsrc tf.'hlhD.
THE rAsEt:i9' CONVENTION.
Tie Eastern rai era sii.Ale the B.nkera' Conven-
tton recently 1Eld u :'ar.t4h The Now York idify
Nuiie sayA 1hat "e Convention srens to have been
m nasc,nll1sv af all tla In scrdnnt In banking. Tr
New York III r.tI declares that the Convention, like
Tootst declaration. IL "of consequence" Tho
Now York ra1~rs generally ignore bctto 1t. This
tone seems hardly warranted by the character Of the
Cotvetsn ar it's action. II wis eartain|T
comisrrd mainlr Of country bankers. aud
or'i-7tsd In tho west, hut while 1t did
not rt. rnsent all tho banking caral Of tho co',n-
try, IL fair gathering uf bankers. Those In n-
tendance from this city represented the two largest
la,,ks the Mississippi VALLEY, nnd Mr. Jnmcs Buell..
wAn rrcsrnt from New York. Is tho President Of
the Importers and Trae:a National hank ono Of tho
hnlf-doxen largest banks In tho country The remark
Of Tho Bulletin may lp tllsm!fsed rather hprant
than wIse. Tito principal ruuive that attracted those
who attended was crlrc to meet enoh other iu social
relations. There reported to latn ccn about 100
bank Cashiers nn bankers present. representing I'LL
lie States LIT three oi smner ones, anI they
dovotci. themselves manly to reunions aud forming
ac1uatntanrrs. moro scrtors work undrEtnkcn
In the cxrresaton Of optlIpn with regard to the
crecAcy. II 10 not without rnluo In its In
tucnce upon puhlo opinion ihut thcso banksr# were
ah!e TO ute, practically with ntaHimty In favor OF
trccc payments. Az tho reBotons t.avo not been
xtelceraphcd In full VIC give thcn hcyc:
Htsoirtd, Thnt. In tho orinIon II this Convention,
i rhonld be tho otfor nf cyrry gol citizen to asei
The day when every promise Ut our Gorernncnt pay
dollar shall ~ 10 honestly fedeen'e.l in co'.
Ets8trFd That, tell yrata have PARSED since tho
c'ole VI thu War, the tnIu has arrived when tho
necalty buTdcnso'ns war-ias iupoSc! OH hunk 4rpos.
its n. capital should l,e greatly reduced q unlirety
abolished. for. in sumo saIitier tic atioal taz mel
to local ta1es nEgroate cr cent on working capital
Kc4o'rta, Ihat 1T II he II this Convention that
Congtu>s Should lutAuxn tie TaRnrG1 1f the United
aar 10 furnish kon.ls in v1e'auge FOR rta's-
tered bands If like und date, thc application
1,s,'rsl. Tina. .he = erns stamp tax cherls and
be- mud tl1at whereas the ,ec;t to tie Government
Ii 70 tncousaletabe, It ought 10 u atn!isled
Your COMMITTEES laxiiH considered .hs question Of
ri, that s,ri, ~ rtnn,,r,l1 nrnan,zsilo av In nnIa
conducive to tho interests Of our banking Ayatcn, W.
therefore recommend That, whrn m. t1nycnun aa-
~ ~. ~ ia.r ~ =. I' H.. ~! ~ ~! " s ~ l!
10 lie nanri hv ths Gnntr. Ne f7t,,rr rncn,nmrn%
:hAt thc Committee 50 appointed shall 10 charged with
u.o duty "f drafting fo1ns for sush permanent
Ranfza!on to tH submitted at said nd oGrned meeting.
Ind TINT tIe Cutnn,ttl l authorized md rcGnircl r.
Invite srcakers tu address meeting IN de4iE-
natea subjects and to take such further aeto,i Hs will
iva ~ '"e'' pef"sAen' sou e"ees-
rho co,itt,e woul, further state lint ,,,cro ,.v.
boon othrr anses! rr l eli fu their l.d. un which
thy hav not :. ye ,td atl VII fur'hsr report ut
'ua'se |''o ~ 'A'" e"'tsn''oh'
subsequently. Resolution vas adoptcd opposing tho
aa"rs LAVE, anu eai"R for .ne aa"p.oh oi tAo policy
d 'seo 1aue IN Honty, ana committee OF three waa
sppoln'e 20 e1amlta 1he sa"Jcets oi asarS a"s and
trcc trade Iii money. and report tu the ue1t ANNUAL
unr'n's. rr,a s.r
1oe'"'os "t'n apl"H'ea 'no EAccatiFo ooh'
n1'ee u tAe NAuutlai lankess Association: AeaSss.
!: I'1.a ,.cs.,.s ~sr'' So@ s,as',s atk Ivy ~
Philadelphia; J. Thoulas Smith, n4ltinofe James D.
Hayes. Dctroit L. j. Gage. Chicago; Jo.spa l. So
t1asae' ooonosll1e' no. 1u"af4 i5ief' boaon Mass
Theirs ao'ns lro1nlse Of goo in thsa organization
mannrr. They ind m n.stor.o es.'aa n1e.elen. IN
lin l,anhcrs c.nyentian. o, IN 1sra f., H.
Aps md n rladepnis n ius rue.s sss canyea a",r IN
lions were held to discuss tue resl1ntun of xpocs
paymena. suspended after tho panlo Of ls7 and ihtr
New Sork convcntion held April II. 1915 terp wore
They adopted the following rexolutlnu.
Ti., !. ,,o r"sa,n,,anass ~ ~, ~. A.,
several States to 1esrns sncc W. s tanns m o. Ie Me
sape apsy M vananr ne1. uss S'shoa PRE- dlng an
mud IT noees1ar, or deem Ii prorvr.
lne Inter ptovi4e ~ns for sho bencht Of Tie Now
York hant' Which were In suspension only by the vet
Msy 1,ta NJ wh.,, ,t,n. ,,. "'H" Fe" ;"