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MONEY AND COMMERCE. FINANCIAL AFFAIRS. MONDAY EVENING, Oct. 10. Business at the banka-to-day opened well for the week. In some directions an improvement 111 the domand for money was noticed, and in no case was there any diminution of the strong feeling which hns been the characteristic of the Chicago money-market and goneral trado for several weeks. Rates for money remain firm and unchanged. Discount at the banks to regular customers is 10 per cent ; loans on short time can be made as low as7 per cont. Street rates are 10@18 per cent. Real estato loans are 9@10 per cent. A now and interesting feature In the moneymarket is the presence of a considerable amount of California funds, to be lonned at rates of interest extraordioarily low for Callfornia capital. The current rate for money in that State has been from 1 to 6 per cent a month. But it has accumminted BO rapidly that it caunot find good borrowers at those figures. The banks of San Francisco have $00,000,000 of gold deposits. The savings banks and other fluancial institutions are disoussing the necessity of n reduction in the rates of Interest. Meanwhile вошо of the monoy has begun to flow Enstward. A large amount is seeking borrowers in Chicago for ten-year loans at 9 per cent. Now York exchange was firm at par to 25c promium, between banks, for $1,000. Counter intos, 1-10 of 1 per cent premium. The clearings wore $4,500,000. Ordors from the country for currency were larger to-day. MONEY IN NEW YORK. The Republic, in its commercial columns of last Friday, Eays: The desire to make temporary use of money bas been tried for BO long without success that many of the banks are boying Government bonds. and the consequence In nu extraordinary demand for that class in of security. There are comparatively few such bonds in market except the new On, and, ns dealers' profits the tuese are small, the Syndicate reaps the benefit of demand. Bankers will not tonch second-class commercial paper, and the first-cluss paper offering is taken ns impidly as It appears, the offering being very much less than the demand. The Bulletin reports that commercial paper has suffored in salability through the recent failures in New York: It 18 wortby of remark that, unloss the standing and credit of the house drawing 18 EX$ collent, commercial bills are hard to sell unless accompanied with documents. Since the failure Я of Kaufman & Co., plain commercial bills are almost unsulable." IMPORTANT RULING AB TO RAISED CHECKS. The United States Circuit Court at PhiladelI phis on the 15th, in the case of suit by the of a check for $100, raised to $2,100 by I the drawee, to recover of the bank the $2,000 reperly paid, Judge Mckennan charged the jury that it they believed, from the imony and from un inspection of the check, that there was nothing unusual in its appearance. nothing which would have been sufficient to put a careint person upon his guard, then they should n Had for the defends to if otherwise. their et verdict should Le for the plaintiffs. The paying 11 reflers of several banks having testitied that there was nothing in the appearatico of the check, ns raine to excite suspicion, the jury rendered a verdict for the bank. RUN ON THE NEW HAVEN SAVINGS BANK. F A heav run was made last wook upon the 11 New Haven Savings Bank. According to the c account given by the Pallulium, the small do0 ositors became alarmed with false rumors R about the condition of the bank, and besieved B 118 doors for two days. All the prominent busi(1 1' neks and financial men in the city are said to B look upon the bank ns perfectly sound. The o run is confined almost exclusively to that class B of persons who are unable to write their own I'd minics. Nine-tenths of those who drew out L their money had to make a mark in lion of writT. 11 mg their names in signing the receipt. The D. bank officials paid out $90,000 on Friday, 1, and Lept their doors opun until 4:30 C. p. m.,-one-half hour beyond their usual time. SI Men of standing offered to furnish all the It hunds necessary for the bank to pay the depos= W itors, thus showing their perfect confidence in l'd the perfect nolvency of the bank and in the offiLa cers managing its affairs. All the banks in the HI city also offered them aid if it is required. L.t THE LONDON STOCK CLEARING-HOUSE. S. This IB nn experiment, adopted on the London Exchange, of making settlements of stock contracts through a clearing-honso. The plan was only started last February, and the extent to Po which the Exchange has already availed Holf G: of the new facilities may be jndged from the E following statement : (1 D. The return of the Stock-Exchange Clearinga House for the account just sottled gives a total DE of 200,086,800 foreign stocks, £164,000 Eries, H. and 223,134 Lombarus, made up against £45,H 003,800 foreign block, 100,090 Erics, and 230,Fl 018 Lombards for the 10th of September ncDi count and £3,958,000 stock, £13,690 Erics, and 21,749 Lombards. accually to cass, against CO £3,900,000 steck, £9,000 Enes, and £6,183 Lom3S baros. The number of members line risen from 112 to 120. The saving of cash passing through the Bankers' Clearing-House on the setting st through the operation of the Stock-Exehange 1 clearing is estimated at about £10,000,000. BALTIMORE & OHIO DIVIDEND. No The Baltimore & Ohio Railroad Company an(5 CO nounces it dividend of 5 per cent on the stock of the Main Stem, payable ou the 22d prox. jee wl also. 22 dividend of 5 per cent on the stock of the ro Washington Branch 102 the half your ended 30th No of September last, payable on the 21st last. BONDS AND GOLD. do Preston, Kean & Co. quoto 00
