, 1875-06-11
MONEY AND COMM ERCE
EINIECfAL.

FINANCIAL.
III. {uonotcr of ihe financial situation remains nm
ttoxcu. There yss:tsaas NJ cAanGh In the rr-
n!retpets Q. the trae Of te city for oas no change
In The rr!cc exchange ercept!blt Variation in ho
cusner tttiness, and such change In tbs hoard Of
Trade ns to ss tho tanka. An ucresaing dnllntss III
the loan market, accompanied hY increased eatinn
In tc s}e.al 81 funds continue 10 bs the drift of nf
fssE The mercantile trne Of tbs city Aa not been dts
ceur1CIn. In the last trste wnckA as much has bct
oas at In twtco that tina htfore, hit nj mruse Il
cr:4ElrncateI 10 tbs loan Market for business ntt
arr adopting te roiy, far II possible, OF making
their 1ucauf suprly ihalr wautn. They borrow onlS
wben compelled Ia do 40, aud asallns setoft
to ts banks by pushing their collections to tln last
n''ar. cu.tlny down expenst1s au rotrcncAing opera
tInns It far M they can.
ala ri discount At tho banks 10 PR cent 10 rtF.
nlsr ruatonscrs who borrow aIl ln scar roun'l 10
ohtst, auh goo1 outside borrowers who have tho right
ku of eecurity conccasioua Of or tcyeral res eent
arr freely made, according 10 eireumsd1,ccs+
On the ss1ret there y 1ci1cnng vnlt'ins of'arpllea-
tons fnr lpanF. ltatcs ~ Gta1s rer cent.
New York sxch1uga was seatcc nt ahlrFnG Fates'
star1y iii tile banks arc soudng currca,uy to New
Ycsk Bank hs1Anco, thrre have been much reduced
ty ihe ,1c,nsnd for New York exchange,
Tho cICatnEs Wera fJ6ol.00e.
THE rIa-lnpN TRADE.
The forthcoming annual report Of ,l,c American Iron
kQI SknFl AHS1fl4uu hu0WH kuAt up 10 lA6 ulG VI Ito
infpsmatioh--ths emu Of 1574-he depression IL lhe
iru, trade deepening. Tho Information gvrn han
Its bcar!hGs OIL the condition Of almost al indus
try+ fer Iron is the grrst industrial rarle. Nearly
llaf the ll1tt furnaces hA.o bean blown ont. There
wero III lsst Dec. a ts72 bOo furnscos in 1875 ffa;
aud III lBit sts out Of FOL completed. Tho rrots1c-
tisn Of rtgrun in tons docs not s,ow nh eqis1 do
crcasc. Tho tons rroducol In 1911 wcro o.tsas4a,
eny It's sG5 tons less tlau tho product Of 1871. 1hc
reason ihf1 comparatively small accreaye ii tint
the furaces st III blast aro tho neSrst, rssst, mud
lest. II Ia tho smaller au older faru.cca that havc
been blown out. Tbs quantity of pe.iron In the
country tnsoi md IN tho hsnls of tho consumers at
t,c close Of 1874 was fully t,"m,0do tons.
Rinca the Isl at January the number al fnrnaccs
blowu ont bas Increased according to the Iron aul
B.ccl Association. In the prcsen state Of business
nnL manufactures, there can be little doubt that tho
Iron trade Will su'cr still more. These facs OF is
condition urc Of importance In understanding tue
general economical condition Of Tho country. Tho
lusyss of tbs !suu r.a docs not that III otes
inust1les. hit Il caused thercby aud u therefore
valuable nj iu,cx Of It's a1teut.
II. < q. II. Il. rATEn.
cqns,deratio crasty Is Toll by tho ru.lc AZ 10 tho
truth Of stories that have basn indus.rluusy cFeu
la,,l in lsesu newspapers shout large amounts Of
the ,aitr Of the Baltimore i oaio 1s.uroad offered
for Ji.cutut In tho New York nlarket Oao fuautial
writer ststo that tho road was tn tls way securing
fl,l continue Its struggle with tho FennsJlvAnts
Naal, Another. unsRulsctly hostifs to The u. Il ..
H. ' Welt 30 iar ~ 10 asseft snat tho aaaaJ ol ,s
la*F Pat ts''o 'as @thus w" ~ Alhe ." ~ tAe.' sH'
1at.a:.t. Railroad Interests wioHp1eallng, and
e.Eupt hr damaged without harm being dono far be-
,"iFl 'he't ln'asaiate atsa. II tno T. " efes-
h1oeG'na T.. u'Atass VIII az p4t1t 40 'u .satH,'
Fa''a i'a' s%u 70 nsfo tonS III ts o% 1'4ses ~
eouaIon II no' "n'' ha1 peeu s1Pto''a ~ ou' W
tunabIy authentic to tho correspondent OF tho N1iiy
"fa' Inas tns -. " "as hos .psl1"as' ~ ~
haH bean feffesen'oa - ee n1s ~ iac' hau 'un"a
4oan 10 aasoe'a'o INES. Inc 40" Ao1A DaaD 1H'Ath
ol Mohdas haa 'ala iofshcF q" 'te hanae 'o."s'
IN fttpeoas 10 a. INJURY iso'n tseuef'es' A'o''
w Eate ~ aaf aas Az ha'saore oa'o papsf uas w.
l.scA:!y>teth taacn on 1a's hsske'. esse a1no1hI
u IL hea hefe' aha the 'ase o'ef,aH NeN'1oo} We
Aeafa OF was ~ tes cent. ~ "uoa nhfe peeh 'asea
CIV pr ccnt. x - e'"ha1'e" .aa' aos ino.e 1han
l'''1o'ooo id oatssaa"ns' aaa n'o"is sola nese<
ciEap bliSLH'
unJ9f iAr tnEHsse: Of the tnnsuza discoveries n:'u
tIe stuut:t-a:ion If silver NY tho German HoYerl-
insh o:c ! reo VI ti'EtF Aaa faleh fFacsi"n mora
Ian ceui aa o'lace III she !aet 'ch da,s' LII hfoa
ycars there lbs teeu decline Of !! cea1 an oncs OF
per cent. iAo 4aoaton III Lie l.onuoo tnas~'t iae'
wrtk Ut a'EA per pound haa neen followed ny sails II
Crsou City day before yeateruay At Ao United salea
Mat. At about s1.o7 an ounco Which is penny Of
ce's au o''co less than tho London ps'co' our Coz
crHlnsnt "a taking sdSantaso Of tius decline
to purchase tllsts 10 be ienueu III rtaeo Of frncoua
currency, whirh Ia ultimately 10 be ret'rod DF. LII
ltEuiaa DircHtor Of tho A!in fhss t!e opportunity
for tho resumption of seeis payments "a almost
hald. Al I'rcsent pricra tho silver dollar IL woltl
Ab,ut ceuta AMI ulli than tho paper dollas
i1, ,he rcen,ac ,lcracasuu tu eyeu That sljrt AZ
- 49, - ~, III, r.. ~, a., t,.,,, -, ,. r.
lcat ateoaiAscd WIN fi''es tas VI s.es 4o
fractional currency II not s7so venture. Tie tW
luust n|r1ch ksf ne1rct II y1si1c. Coll MsAt fall
and a,o ErecpLaek therefore npt.rctate or ayer bp
,r, +t,i eLn.-or 1ts. not ba,a,,ou. 4, rr.,1rt N.
H"n0 M ~ - 49, =. SeH' ~ .s' 49,
lno As'ef VIII LHpPc"' uc1iAaoy 1Aa nos seSa lua'
$780, u silver, exclusive OF Tho $50 QD III
disposed Of last year 10 ro tUe1Elu and Holland ar
,s,,,n tno rons,I,,,Itv ~ r,,J,ctu,, t,n,v ai,vc
, - @ 49,, ~ 49,. ~, -. - r,.
"3th soh. AMe WI tnso" Aito LIS hafAe' 'un
slGo,VDtOD more. Tho ErcAt market 10
ths eiysr IL In tlo Orient, but In
". , -. m, nv ,,,x .,,nn tho ,,,r,
aeA' '' sN"'s wv ~
amount WA '11sa 1nc'c' ine Pseuae"on '. wv ne'
Westcrn h!ncs rroiso' to 10 very largo. Nhat tac<
l,u,n o,,rt,. n {&,,