, 1875-03-02
MONEY AND COMM MERGE
FINANCIAL.

Tbs tusine4a Of the banka greatly fncressed by
tbs lettismsnts, but these Wfts not very heavy
pared With thosa Of the trst q. ihe preceding month,
Tbs cye.rInes for thu day to g. G0c This gave
much active movement to the counter business,
lNt had no grrAt effect on tbs ioan market.
There in quarters good demand for loans
10 carry stun the Board Of Trade, hut ,h,s not
general, aud indicative OF change ot burdens
sasher than any tncrrasa in the aggregate 'oans.
The mercantile community hrs Inactive An'l thr1r
borrowing Il II ita minimum. The miscellaneous
demand IA very light. In general, tho stusttnn III
financial circles u rory quiet and very easy.
Rates Of discount 10 per trnt to regular cnston
srB. Good outside borrowers dp nf per ceut
batter. On ths elrses. therr ia no Increment to record
Che usual dullneaa PREVAILS Rates nrs 1tais per
rent.
Thu movement Of currency in ont ct this city Ia
lnenntidsrable
New York exchanges was sslllns A 10 cents discount
for s1. 900 between hanks.
CIRCULATION RETIRED.
This First National Bank Of ths rity has ra-
tired 100000 of in circulation, retaining
but $loo,ooa, tn to date, about slt, ,0Uo,0,0 %
Of NAtsouai BANK circulation 1avo been With
drawn under tho law, The psticy Of contrAe-
ton which IL IN qnict operation Throughout tho cotn-
try shows that bsnkers intend to pursus very enn
serratvs course. Their doing 80 will greatly
ursugthen themselves, snd enhance tbs financial
strength Of the banking system. In vtsw Of the ap-
rroachips resumption Of sreca payments. roo bank
tfs will not have circulation outstanding than
they redeem uhen tho TINA Of redemption COMES
The present IT, moreover favorable lime for lbs con-
fersson Of bonia.
LkaAL HOLIDAYS. "A
The subject Of legal holiday ID Of considerable
embarrassment 10 The bankers and bnHnost-tnen Of
hls State. The law rrovdcs ony for Sew Years Day,
Christmas Day, the Fourth Of july, aud Any pubc fas
day or Thanksgiving Dsy. 1ha banks howeyar observe
several other days, hy Gencsxi agreement hut owing
u Tho Absrncs At tega sanction, ttese obseErancea
slSa5a or less lronb1csome. The lanhs must
eonacn unanimously, and srcch nosicc u,,at bc given
Oh each occasion 10 lbs rubli. Thers 10 no reason
whatever for tbs cnutn,1anre nf auy such awkward
s&stsof affairs. The Legislature. by simple enact
1eat, rcsse tho h.slucrs community OF Ill un
certainty In the matter. Tho following in ths te1t of
The new Holiday act that has become law In Now
Yort. II ~as prepared by experts. ami se.na 10 IN
free from I'll Ios+ibIlIty IF m!sroncept.on:
AN Acr ta designate shh holidays ~ M nbtrrrrt IN the
acceptance a.,a tay.nens ct b'4 of exchange, bank
Tho People of The Stale of Sew YoIk represented In
seo.ta md Atfs,ly -. Do sn1st as G~. T.
day Of February, known waAhlneon* 1,lrtl1siay
I'll d.y Of 1aiy. esled 1nderrntrncc bay ID 'ash
aay Of December, known christmas Day any gen
ss tss9a e. II: % aa IL. ss e. e H.
dsnt Of tie uutte states a. day OF Thanksgiving.
SHALL for iii trrse. whatsos,rr - rcs,rIs hs Pre-.
aentlag for p4ymsnt or nscspsnct anti Of thu protest.
s set q s sa s
the paasage Of ttls net, ba treated and considered
the r,t day Of Tho week, commonly cled H"nssy and
notes otherwise prenyntabs for sc<spsnss payment
tho aaid days, ab.lt be lcs'ael II a
fos acceptance or lay,aent r. Tue secular Or bsness
BEG. ?. Whcnsycr tic lat day ot January, tho 22h
Jay. Or tho a;th d.y Il nseo,i,ar .hsIi f.il npon
sana,y TIE alonday ne1t following shall 10 doomed
rese3 pe ~ =: 1a ss Eli:
oi s1ehan8e, oech', a1 rromsBory notes nate after
tue pass.ss Of thsa act. which would otherwise BE-
Gondsy, shall bs dren,ed to be prssenah1s for accept
snce or raymsnt on tic saturday preceding
this hereby rcpcalc,, hut sc relra rha1l not
affect any act dune, pr"rtdina suit Instituted,
ptior 10 the rasMge nf this net.
REDUCTION IN ISlEnE5T On DEPOSITS.
The Hoston .ids-rf;*F says;
1.-THE matter cf paying interest IN deposits has rs-
eei.td gotsl des VI atsnsioa IN sh1 present :on-
thst .her. viii b. general reduction in fl,s rte 3 Al
!: ss.ss ss .sl &. II L; 4 a! M Hs, ss II. ii
c!rcutns'sncst vheu tn ruling rass 's 10y, The lr"t
day II it ia sill leut al PER cent sud- iar thA pratt,
business Of tho corrsspnndn4 BANK. Iut when n.ch
perhaps mt u az .ho proht = very apt to get upon
the wrong slds Of ihs account"
CONDITION or THE NATIONAL pASxs.
BcoH We gire An snstssct Of repor,A tuAds 10 tbs
Comptroller os the Currency, showing this condition
Of ths S4ual Hanks in ths Une1 States At the close
Of busite1s Thursday, Tbs 11st day at December,
1874. compared With the returns OF Oct. ?, 1s7a:
Ntsoa1et.. Do. ii, II. o.. !, y.
Loan. and discounts. Is a,o.s9s,.7ss ~9a7oe27
g'erdrans. ns.............;.. a,91',coa 4,s24lea