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The market closes with very fair demand for sterling
exchange. The closing rates range high any time
through the season. and there at present probability
that the rates will 60 still higher, without causing
very active demand for SPECIE or very heavy ship
ments very heavy amount Of Canadian bills have
been sold in this market lately at % 10 speculators
who have jobbed them out at o. II the importers and
others should be qured to remit freely for the packet
of 10th October there 10 nothing to prevent the rate
London reaching lot, gold from being shipped There
is great difficulty experienced in obtaining Mexi-
dollars all the Canadian Banks having been drained
for Europe as well the u. States very heavy
demand for sterling bills is anticipated from the agents
Of European manufacturers in this city This demand
will probably be for time Sales payments to be made


in the business paper Of obbng and auction houses
There Is SO large proportion Of import trade carried
on by these foreign commission houses that they
PEELED to use their business paper to make remtsncss
soon as their owners the other side require demand
Of this nature will advance the rates for bills and may
tain their credit the other side The principal object
expected to be gained By these movements s to carry


forward into another year the Indebtedness of this


The dangers attending movement OF this nature are
very geat and should he avoided possible II undouht
edly appears to many to be the only feasible method to
arrest the ruin that many fast reaching bat su
cent for the day Is the evil thereof and by putting of for
the difficulties that should be met today the
accumulation may produce evils heavy to withstand
and the result tenfod ruinons than II each CON-
mercial year was left to regulate itself