Commercial.
New York, Dec. 10.
--The weekly statement of the city Banks shows an increase in loans of $676,904. an increase in specie of $20 981.
an increase in circulation of $150.250, and an increase in deposits of $11,361,48.
The New York Post, of Monday, says: ‘
It is worthy of note among the many expedients that business men are compelled to resort to in times like the present, that a Western merchant intending to meet a payment to a New York house.
rather than submit to the onerous rates of exchange, brought with him five hundred barrels of flour, expecting to turn it into cash here, but now finds the sacrifice which he will be obliged to make much greater than the large premium of exchange.
The derangement of the produce business at this point has seldom involved greater sacrifices than now, and it is not surprising that the wealthiest houses succumb, Several of our leading receivers have suspended within a few days, with a great abundance of imperishable property on hand, which is unavailable for even paying transportation charges. ’
The St. Louis Democrat of the 4th says: ‘
The money market is still very stringent, not withstanding the late movement by the Banks, which promised so much relief.
We are credibly informed that the Banks are discounting considerable, at least some of them, but their operations have not, as yet, produced any sensible effect upon the market. ’
That matters are easier for anybody but the Banks since the suspension, does not appear.
Still it cannot be canted that the suspension prevented financial matters from assuming a worse phase than they have.
The rate for money upon the street is firm at 1 ½ per month.
A good many payments fell due to day, and they were pretty generally met, although a few small deal are here behind, and needed assistance in the way of extensions.
The demand for Exchange was quite active, and many dealers were short, and were seen here and there in quest of supplies.
The selling rate at the Savings Institutions and private banking houses was uniformly five per cent. premium in bankable funds.
Sales in New York, December 9th of $6.000 Va. 6's at 75; $3,000 do. at 74 ½ $23,000 Tenn.
6's at 66@ 6 ½, $10,000 Mo. 6's at 63 ¼@63 ¾ and $3,000 Ry. 6 s at 100. 