, 1875-06-10
E?0NEY AND COMMERCE.


tbc Loan ,narkrt All the hanks cone,,rrc,l III EtatinJ
that dnlnesa rcisutd supreme. Diseohnt Inca arc at
hctg,1t which relieves bankers Of anything Ike ans
.y "a o1teud their 1oapa, al, IN .low Of tho strn-
gcucy that becomes daily nrparens in business.
n,utluns policy r. ueFs closely oeerTcH than over.
There are eou1e applications from nlcrclanA for re-
newaip and tor soapA 10 taein Ao hcttce sea-
,on, but tia indignation of tho banks to burden
thensol.es with undesirable paper Is beginning 10 tel
asatnat aouno of tAn weaker Of thcso brethren. anil
thero bankers who do not hesitate to declare that
they would prefer not to Md annihnr dollar 10 the'f
accounts TIL rett January rnthof than take any hut
thr teet PAPER.
RA.es Of ttseenns It tho banks are 10 pet ecns 70
customers who borrow all the year rounl, with con-
cceatons Of T. and pcr cont, according 10 tho Cir
cumstancea OF bank and borrower 10 outside tnrtos
of rnaonoied strength. |
On the street thcrs Is nothing moro than moderate
su,oun& Of business. Rates nre G,1t5 per ctnt.
Now Yorf e1chdueo con.iancl unchanged At ahil- /!
ping rates. Considerable amounta OF currency hrc
daily sent 10 Now York. Thbrb shipment Of eur.
rcncy to sneak OF In my other direction.
Tho cjca.snes wore &. ,oJo.
aAx,nnAY rAprH AND y1tH nArtnoAu WAR.
wa mil In tl,c aNv Graphfe OF tho 9Th inst src-
ri, ,j.no.ch from its baltimore correspondent who
had calcd uron afr Garrett tbs President Of thu al
tl,noro Ohio naI,roai Company In regard 10 certain
.,a,eman,s in New York rarers to tho oJcet hat =
Of hIs raper gaa in that markell 1lo
VIVA told br Mr. Garrett that such aa rot the case. Tho
1,,lmoro uLio Ilairoad IL daily refusing TO talo
,oonc, .t thu ,o,re.t priccs in tbs New York MARKET
lrinu entIrcr e1sy in s finances and jouninR largo
anomnt, of monoy 10 conpec,,na ns2 for the pueoss
~ ,e..ttp. tb., IN m.ka trnrtap asd desirable In.
nrovcrnent.
Mr. 0arrctt a,, That hs found 1.s bustucts ar3e and
t,o result. thereof o,to easfactory potsgIthstan-
I'm no Inv nr,cc, Tor thro7 fra,ohte r,at,,heh BY
~" rcnnxytr,nI. Railroad Camnany. tho object Of
,1,n ia. tacr hr ,n,t,nr Tim r,us ,,nrrtnuosr.,ye
Ia rnres tbo t,,tlnoro h tlhta uto combination Of
aurh character thai v.urr, hJph rates would e,1sqc
" cnr,e.t fp-,her n,a,a be Iu,nuytuut sts,etucnt
b,t to ,,1ti,nora Il phfo Railroad Aaa fully proven Its
a,ar fr,r Il. rcnerot and v.riel huatncss sal tho
1n,nfrst disno,ton OF e.,cru merchants 10 Rtro It
tn -of.-ort. n couttpo to maintain ths prInc1ulas
-, ~. m.p,yn,nnn, ,n,,nan..o,v.
ri, Saht iptween lilo reun,ylyap!s md tho palt;-
more oLio is likely 10 provc ono nf tho most impor-
tant financial cyents Of tho yc,r rerhsts the most -
norank ,tnco tho panic. Tho parties 10 tho rontest
haro lco loo often described to fcel any rccarua.
tinn nf t,,c,r Arbtino qualities The aitiruoro Ohio
In. oro,rp In liz preacut strsnah In pursuance OF
rtal nocy Of econornIna administration living upon
"a o,y, means without borrowing and accommodating
surp,us out OF i,s earnings. The rennsyyania Il
v,,f .yslem Of 1eased and consolidated roads, Will,
stock watered cut Of all proportion to lis
y.lne, and with very heavy debt. It 1as heen
rouncleI he,y to redaco its dividends: IL has, tn
ssy lne leas al H. taken advantage OF technical pro-
te.t 10 ,1cfaul. in s uoarantoo OF tho interest on
t1,e honds OF tho Columbus Chicago h Indians Con.
tfz1 1t. clief was conspicuous In tho biggest and
mos, ais1earcful raid upon tho Treasury OF ths nitc
state. during the 1ast scssfor Of Couprets-sho A..
temrt to oet eono s;v MO- fo. ,hs re1as Pacific
lanjes and the hard time, thst follow them hro len
ecul In 70 fur rs thcr nr1rk tho bubbles Of srccnla-
uon, aud bring value. aud husuesa operations noaror
10 the basis Of reality In every department Of COM
mcrce till healthy shrinkago il going on, aud mcr
chants who ,,uso owu their kites loo lig hayo only
hrokau str1nRs in tho.I bands. Tho na1ne process
mu4k do It's work n1norg tho railrouls.
Imitation and epce,u.Ion have ouo ~ ,,c III that
direction ea csewuote aud perhaps rnurc. Tie nt.l