, 1875-09-18
The Loan Market Dnll--.Ilatcs of
Discount Easy.
Light Movement Of Currency to the
Countrywide Clearings
S3,600.000
The Produce Markets Irregular...Pork,
Lard, Oats, and Corn Stronger.
Wheat Tame, the Quality Of the Receipts
Being Poor-A Slow Shipping
Movement.
FINANCIAL

Business WIS not ActIve At tbs bants, The require
euts Of the country for currency have lesaenod snt
applications from tho source for redlsoouuta
not frequent. Tho slight sxport demand for oul
breAdatu1s accounts for tts. Ths interior has hbo
much currency on hand - II nceds under prefen
circumstances.
The local loan nsrte. Ia quie. Tho fall trade PRO
grosaes satisfactorily 10 wholesale merchants bu
tho amount Of mercantile paper Ia far short Of Tie ca
pahiites Of tho bsnts Manufacturer ara supplying
aone rcry good negotiable psper. But thsAc com.
bined caunot employ tho loanahla fuuds in thu M
tet, With the duilneas prevailing on the Hoard d
Trade, and in ali kinds Of enterprise, The surplus o.
the banks increases.
Rates of discount s10 psr cent 1t the banks Il
regular customsFs. independent borrowers who cnl5
occAaoniy appear can obtsiu accommodation on very
favorable tcrma. To them, ratsa 0s8 per
call or short time 1ndoraemsnts and co.terals arc
very closely sc1utinxcd.
On tho street, there II larger supply Of loanlbS
funds than can find employment. Hates 6sls par
ceut.
New York exchange MAS sold At Soc discount be-
tween banks for 81 .Uoq.
There wero few orisrs from tho country for cur
kency.
The clear1ngs wtro 23,5oo,ooo.
An OPENING FOR THE tSFLAT1oHIsTs.
recent decision Of tho Commissioner Of Internal
Revenue Eaao public Indirectly, puts singular
srIeton uron tho law taxing other citreucy than
Breonbaets or that Of National lanke. II the
burden preventing reb and towns from issuing
eancy Of shnir when State laws ID not Interfere,
shd keeping 1t In circulation FREQ from h1 long
t. does not get into tho hands Of the hanks. Such
potcs hAve been tes1ci Iy vt. Louis Mobile and wo
believe, by other municipalities In tho South,
and sill IN At tho time Of tic Organization
Of the National 1ankng Association Congress enacted
lhAs nnJ Natlona Or State Bank that shonld use
lhc uf shy person State hank for circulation
a. ~ n
tn March. 1907, tho notes Of towns. cities, aud
municipal corporaona added TO the taxable cir
kusion. In February, 1875, tie ta1 wne made pay
sbo ty every "persou, Arm, nssoeat!on corporation
Stse bank 6tate banking association, and also BY
every National nsufing AssocIston," who used auch
notes. Under this law husntsa rncn who ssses. such
notos In their daily transactions liable 10 the tst
md The New York journal ~ Commerce, in whose
valuAble u answers to correspondents" ths matter
was brought up. gave the lxw this contradiction uut
the Internal 1svenue Collector OF 3fob!o hss ru.,
lished letter 10 which he gayc quotation from a
dsc!non by his superior Hhe Hon. D. D. Irats afero-
sad> to the effect that this tax "nced 10 required
Of any rorson 6rin, asaociatlon rorrotttton not
engaged In the business OF banking" unloss such rcr
sons or Arms ray out uoEca Of their own.
Here the matter rests All atteupts to obtain H.
rectl5 from Commissioner Pratt the tecsinu slu1ei
10 havs f.ile'. The journal ef Commerce says It Ia,
"fsiel utterly, In Two faithful attempts, to obtain
ffA
public haTe tic right to bo infoKutd.n
Tho construction attributed 10 tho Commissions,
makes 1t possblo for avery civ nn ou IN ~. .o
try not restrained by sta;n 1e1i,st,on n ~, a,. ~
manufacture anl ei,ru1st,on NJ nn,nr .n+s,,- 80
would Ia fren a. lang "a IL IA t.rt mt ~ ~.
Al, t,nt. 49, '-"14 "
nr7e1rr.s ~ r~w vo,r |
Tho lsree auo.r.re6ncrv i, Nov Wv. ..,,.~
said 10 have failed rarlv In ths re-k l., ~, ~ ,vt,,.
Nollcr h ca Thn renor. l. conn,r,,a ~. ,,,,,I..
amount tp x,no cno rho .,..t. 10 ~, -. ot".
r+., est.t. IN rYrh an, .,,,t.o- ... ~ "
ton, and tho 4ussr-uou,e md eon,,nts ~ v.n,,'
street yaIucd Al Il 500 of0 RI, ,o,,.. ,s, ,.,, .
four or nva buus,s ,htc}, .ro ,-.su,,.s - ~
an.t.I, thew A.~''1 ~ w 0''s "
Ey,.unrna nv ruv xr, xo,.
,,.rnh.. -, - -. .unM .r",. nio.e hAcnAS"h'
....a,.s :, ~ .t,s suo ~ "unAlns ouoa' Which
sto-t Ev.ts,a, - s'1.,.. W .ae He~ foff
~ 49, 80; - "pt-'c " 'nss ooay LOT p4otcc-
railing , ,nonttna ~ ~. ."an1e a. 10 comply W
e.ls i'c.lns u LUG GOVERNING conmitteo, to tafc
!, n-nr,..a ~ .N.. ~, .u.es4ua W see.csaay.
ploposea 10 enlist mo AID OF detectives to "spot"
PORT CHARoxs Ero IN n1w yopx
nesa Of vas..I 1,.lr, ~ r,h,t.,,ht - .'l'
tht -, - An1Anao'pa'A, acAue"'coeca
SUM- w" 4atx poFs cAstHea " OF oue Kind and another
AFs e3ofpltan and Il aa5B that "lf any trnds which
naturally beonga here Il C., to New York, shon1s ha |
attracted 10 thn Delaware by thn oconomic,1 n,a,a
ue ou.1Ae1s 'hefs tho TACT need create no aston
esAulSAt.'' " II elevator wharf |