, 1875-05-04
MONEY AND COMMERCE


Tho hanks vera very busy yesterday. The settle
fnens Of Board Of Trade operators carried tho clear
Ines mp 10 $1n 00-a larger snrs by about 500 90
than escr bcforc Ms calculated that tho wheat Au.
eos hnn.i hore hes changed hansls three uuca II
tho Inst two itsys. This involved great laa Of worl
the part Of u1s banks for which thsJgst very pen
pay. On days lIke yesterday when the ciericnl forc
NJ the hanks IA pushed to s utnost capacity the orpr
worked banker thinks with longing Of the Eues sys
lem Of charging Ems1l commission on I'll checks
drawn BY their customers on them. Tbs Lout1nn
hanks charge from = to u cf l l~r cent
for caBhlng checks. bank In thls city that
tceph in account with tho City uank Of Inn
ian rays 4 Of per cent on every tiraft Il draws
There sro certainly sons accounts that could bs
rcatcd In this WAY to the profit of slo banks There
IRE many customers whoso checks will atnotsnt TO
htlnlreds Of Thousands Of dollars year, while ther
atncs viii mt asnrugo than 1o0u year. For
tbs profit Of $40 or So year which tho bnnk make
on this, II must do tho vast amount III work involvs1
!n keeping such account and handling hundreds Of
checks. There is another xac 10 tho aystem. Tlo
English bAukn allow average Interest Of rer cent
N ali denosiis Individual nnt other, which In most
ta.ra about Offsets ths charge for checks.
Beynnd te cntinter nneinesE ocraatnne by tia set-
llstuent and the trunsfcr OF indebtedness from ono
nand to another, Tho financial situation abowed no
'cstErea OF novelty. Tho deinaf,d for loans IL not
pressing. Thsra Is moderate amount OF commercial
offering, and considerable manufacturer paper,
1otlcesLIy lumbermens papcr.
1lt-s Of discount are s4rlO per cent 1t lbs hanlr.
Gu tbs atreet, loans on good collateral au1 for as
long as six mouths can be malu low ~ per rent
TsAr. Tho supply Of fnn1A is largely in a1ceba Of
ho el!gibla paper Offering. Bates 1t1s per eeut.
New York sxchnugs re,sa!ns hrm At Is ccuts pro.
nsitm for 81, 600 bctweon hankA.
TUE DEFAULT or Tux PENNSYLVANIA RA.1RoAp.
The failure Of tho Pennsylvania Railroad 10 inert il
guaranty 10 tho bondholders Of tha Columbus, Ghica
W Indians ocutral Railroad has thrown great deal
Of dscrcait on American securities abroad. Tie
A,olo-AMtTitaM 7'a,<s, In a reecn. srtrie, says:
Whether the Pcnnsylsana llarold Will iltoH snfrer
~ snsr u nG H.. ue s erqs
any moro borrowed money, further leans will bs
quirrd In tic United state1t and there Is act which
which The money will lie ent therefore the tend.
ency Of e .cs to croaae the rata Of interest nala
~ tas United States. and 10 far to Hamper tho indus
may : no'isea IT, ] .!at s death .. an n,vdn,,
hne Led 10 hi, eoineeen; iron, which itmay " lu-
ef the hs.t nstinna Of this earth BY the policy Of pr
vatn ri!:eu. This Is eurioua fact, aa,t should le
1tow far docs tho action Of the pcnnaylyauta l.sai
Company foreahalow that llkcly to to aken by other
3 bs ery s oev of oe Thoss psis1s
t.inan Of commanding Intellect anu energy whose
counsca wti3h 'ecsiyc1y in ths affairs Of tho great
rurIoratton Of which he u rresIdcnt. While Edgar
trtatAcd, eren Ii meeting lie Interest on ihs soronI-
or se sesr, Co., Scott Who sar formed md % Iirrets t
wsshina.on NAY lave lint keen Of eaaty dull
eli, which distiuRut1Acd such men AIR. Edgar
Thomson. Col seott wofks for tia direct interest of
the cusosation o tlat Interest," his oLiect b.
a,ons; paying to its stoclholtcrs tc highest divi.
drnds that can 10 sar,cd ltA yiew, therefore, IL
e M s sSs 4, .sesss se9se5 t. To- ps I my
nss anything u IT, is.ere. Jul hL roisy ID msi,'-