, 1875-09-01
a Noro Active Call from the Country
for Loans and Currency.
New York Exchange Weak-.-The Bank
Clcnrings $4,oo0,0oo.
4 Day Of Increased Activity in Produoo-
Brisk Shipping Movement in
Grain.
Wheat and Corn Again Lower---Pork
and Meats Strong.
FINANCIAL.

dttlona volume Of lHlafrcSs that IN transacted 1t
financial circles. The country bants contribute Root
deal to this new phasa OF tho ioAu market. They nr
drawing down their balances steadily, though no
yet IA !rsoly "A will 10 Tho later In tho Beaao,
when the movement Of thn crops 10 market rcachc
ia height. Tho ofefiDgs nf country paper for re
discount arc moi argc. tho banks will naturally
pnstpone thoir borrowing till they hava exhausted
Sher ba]ancca. City borrowers morn urgent than
they have been. This II true OF almost all catses ct
busincss num- though single eaas hnA yet eallsi for
any consldarAhlo amount of funds. The general pros
poet Of Tho loan market, In consequence
OF these fach, Ia ono Of cheerfnlncRs,
rather than of grcst activity. The latter
u not looked for At this early atngc. Tho un!n-
ttrrupsed hno weather ldda evoy day GREATLY to tho
protpccts Of husiness for tho year.
Itatcs Of discount arn not changed Regular cul!o-
mern ars ehargcd s@10 per cent by tho bauks. aud the
few o,tals Borrowers xho present thoholsea aro ac.
oommo1Ated on tho most fa7orabic terms. Call loans
aud ahort-tnlo Iaffr readily negotiated 1t tho
banks. which have surplus At G.57 ppr cent.
On tho strscts there hss been appearance OF the
hctvtty that has been entoyod by tho bAnks. Ratos
ARC Ges1s per cent.
Now r"rt c1changn WAS weak ut Bots75c discount
between hanks for u 900.
Tho 1ow of currency Ia .he country increa,sa. II
goes mainly to the wheat .tist,icts,
The clearings wers &, ,000,0ce.
THE FINANCES IN ENGLAND.
The Brah loan market Is IN tho sauo stase ~ that
Of this country has bean In for many months The
rate of ntcreat is lower than It Las been for four
years. and yet the demand for Io1ns In dull and bust.
ncFs ia on tho verge Of atagnutnn. There arc no indj
catons OF any immediate OF prospective improvement.
II said by thu London correspondent Of tho nauc,al
Chronicle IIe rcMkrks that therp Ia no animation
III Any 9tartat aud oaingr in somo measurc, to tho
uncnlt'ea "bich have arisen respecting accommo1A-
os bills. strong sire 10 shown 10 rcfraiu from OIL
serinR ino latEo engagements. Eodotb IL the banks
n hCIu Ht.rittt -.
would ls given to traa; but there u jst now cons
crabs tHtrus and until lenders nyo more conaleu
III tue Gdsrow1ng section Of tho community, any rc
vival Of sclro trade Is nn1ott trn5rraettcab1e We
must anticipate, therefore, an Unchecked accun,ula-
ton OF money 0n this market, Aul iotR Period Of
very easy rates Ut discount"
The London T!mks makes tho same tonor} and rra
diets that this phase OF tho London loan market will
produce gradual extinction Of weak aud sccopd.r,ta
commercial hpuscs.
VIII monoy 20 excessively cheap tho banks anil ls-
1aVer bccante Il Il not worth their willis to tako any
s1nf Of any sinL For The atFueR,H trader tbs rres-
bs, with to e,nrt pnsiness he ntelt nj soc
t sooo1nmoustlon, ~ bnt now hc gets nono rhn stmEc
viii succulnb Tlts cheap nouey IL. therefore
about the most fovero purifier Of tho market thai
esss ess b '0n'e,sa sap,ss It H. ",
4cy hsva bceosnn III 1t onre profonni,5
,aG1e'sSa ,sC .c With ths nssesaity
1no'sY 'hsy might eafn,atcly do. There is shus
suneraaundAnse, and innn!tah!e paper ges done
~ neil TO nohhB while paper that ooks in tho Ira.t
likely 10 Involve risk ~ nut accepted On my terms
a. aas often mon said Lately VI DAY for tho use OF
Elooo Ia too Little 10 carry anJ liability upon: wc
anal therefore, 'nost likely llave moro or less soF
~esolng out going on for lilo next fow nlonths,
~ ACCOMMODATION Hills.
Duncan, Sherman Co.. Of New York, affi1 AIs1nu.
der CoIe Co.. Of London, will nos read tho follow
Ing remarks ~ Herbert Spencer on Accommodation
bllls with much pleasure. II Ia to be hoped that Tho
attct morality ha viewa cnorrs w before long b. no
stranger to tho majority Of our merchants and bank
ero. The extract L fspm hiA l.ook on Morals of
Tr1de";
% How muat 70 describe tho leings OF those who
5sAs money ~ accommodation ts7 Tbrn nnd
apFca the ono to draw and the other Ia accent hit
o f1 oo0 for value rccolyeJ we In truth there has
beca 40 eS1a Of goods between them Ut no yaiue ~
ssvnt the traneAcon ts not hirnpjy IN embodied H.
Dlt 1oooma* thereafter living and Actise ls who.
ever discounts tbs bill doas 10 lu tbs belief that H.
AsvnR becorno t,osecsHrd Of E1.tp0 worth Of rnois
WILL when shs btll falls duo, havs eit4er tho Fl nas
worth q 8ools or soma equivalent With which TO ,ent
IT, Dd he know llat thers no auoA snods In tn
banda Of other OF y, huA other property ayanhs
aof aYu!uatihR shA fa 10 would not lIacu,nt it-hn
"ouid nos !en1 money 70 man OF atr1w without ~. |
curry. The caso "a intrinsically ths sane ~ thouoh
htu taken TO thh hank for8nl nortpaae bbrI snd |
ontansd s, loan upon It. Practically, M scconmoJs
tioa bl! = forgery.