, 1875-08-07
STATE OF TRADE.
Tho Business Of tho Banks Unrc-
lievcd by Now Features.
Collections and tho Woather...N York
Exchange Scarce.
Tho Produco Markets Again IIigher...
Grain Excited by tle Weather.
Light Heesipts---Freights Dull--.Pro-
visions Stronger.
FINANCIAL.

FINANCIAL.
business nnvca Rong 1t the hanks in The ssma
Eeady+ ul way That ias charaeerzn,l 1t for weeks.
The destruction canaed In tEe props By the weather,
and the uncertain prospects Of tho grain martsts hays
had somewhat depressing effect rpon the morale OF
ts oAn market, but ths only actual Effects
s.i further alowness In collections. There Is only
meAQre Information about the seAts of tho fall trade
but, A. far be learned, the country merchants
os Iowa and Mnneaoa likely to purchase fairly,
ltsle damLRe has beCu done 10 ie crops In That part
OF the country. II Ia Loo set to form aiiy
definite conclusions a. 10 the affect upon tho
Of tho West and Northwest Of the storms Of this
mer. In b few weeks tho home production std tho
foreign demand will bo scltlcd. Tho tendency to
c1aggcraee tho affect Ut unscaronabc weather Is up
pcrnaost IT rretent In the end. It may te fond that
III damage dons has ruads no material inroad upon
our interests.
Tbs Aurpus Of The banks n sill sufficient 10 keep
ths loan market casy, notwithstanding tho large
amounts thas have tcen staorlel by tho Board cf
Trade, speculative purchasers Of lnmler, and
chants disappointed In cpl'e't'ons
hea Of discount are Slid Ter cent 10 regular
tome.s Of ths banks; geod outside borrowers cnn-
ccsntona Of sescrAl per crnt arc made.
On the strest, rates arc GS par cent, And bnsinsza
Is light.
New York exchange uncertain Ia prize, and
opened At b0e discount, hut Al Tho end nrn, and
There a small movement Of currency to the vbsas
dfatrcta.
TIE cicarings we're s4,oJO,Goo.
rgSNsrLrANiA RAILROAD nrr1DEED.
The Doard OF Directors Of tho PonEsylv1nis Rail-
road have offered tho instructions given BY tho stock
ho!iet1 It tim lat annna1 mccting 4to hereafter de-
e1are quarterly dividends ui,nn tho Roc II found c-
gss and practicable" They have declared n div
iltnd Of Jcr cent, clear Of al ta1rs, for tie
quarter enllng July 81. Tts Lfd4er says that .'ts
net inconb Of tho Company from Its various so,secs
for the thtes mouths ending July H. nftor providing
for Tho lntc1rs it, bonded obligations and tho ua-
lios connected with the limos operated by II, We
glad 10 To informed, Yields hanisome surtuh u the
credit al rrodt mud loss sf!es paying ibis dividend
ond tho tax thereon. amounting Ia million aua
half Of dollars Thcso 1osu,ts In tho present de.
pressed condition Of tho country, certainly gtsti-
fyi,, md Indicate tho cffet Of and economy in
n!l dt Apartments Of the kerv1cc.r
DIRECT TAXATION IN FRANCE.
large part u the Frsnch rescnun is raised ty d.
rect taxes. Tho amount W produced during tho first
nix months Of this year - 3a9 900 tranca a-about
ts,7co,0t In Gold,-mose than tho estimates.
Tho revenue antt movable property ta1cs estimated
to produea 81 DJ francs fur hia year yielded H.
oe0 900 francs up .s end Of Juns last. Tha int-
rect taxea have in the period yielded IS ON0oO
francs above the aflnfsterat estimates. Tic total
amour. Of drect and uAtroct tazcs collected exceeds
by Oo5ou francs tito amount uuer thcso heads In
the first st1 mpnhs Of 1874.
THE WEATHER AND SPECULATION.
The game Influence that haH been e1crsed br tic
weather upon stocku aud speculation IN this country
has boon noticeable abroad. Tho Lpudou Ii,nts OF tho
9th ult. says:
Tue weather % haa had yary powerful influence on
cGrAth 6ctl.ft tN u11 nHtkT, aud lie lHnt
wut in France Las weakened tLs u ir III soc,,i.tio
there very considerably that lr1c!inliy only ualio-
swks may be said to .ase Gee, anost aban1onrd. a.
steady has eeen the dow of buyofa towards shoss
stocks which are supposed 10 10 hensdlcd ty tlc
Eurore. Tho "run" In unrcd States tiecks and
good American raway acenrlsics tsas been very re-
ed riso. Ftsc-txeulie.. which usually the ieast
,oaht alss q q s "e ststs. stock. hsr.nss,
been rlAins faater almost than tho oilers.
AaLRfcAs COMMERCE.
In commenting upon tho ssatstlcs lust nuultshcd by
o oovo1nsat Of a foreign trsds OF tho country for
1s7s-76, the New York Da,iy i;n!ief,n says;
The avaragn Of tho last two ytars Shows an Iucreast
over the yearly nyernKe Of tic i've yearE rrerr this
ralc Of Us 100 COZ III shs nrort MD of fl1;4uGU
nsersgo annual Of exports over inlors an,ut
lng TO 0oo aud for ths hYoyear lerlo yearly
o. This arast Change ' IN sho s bainsas If tr..
Tue natural result Of check to tho export n src,ri
ss a1s ed Of tasr rearn home which Resulted o ne
Represents tho exteut TO- xh1A American credit has
been a,ees abruaa by That event. ii iIls same lime,
tnoee NEnrtH Anerd comment Hpup tho rrupkIpx
about runed coni,lcrro now 60 f4shonall.. The ay-
rEase yearly fufsfgn tsnlo of tho country h,s been V
Year, est bciorc tile r7nic; aud tLa fart wsrrants
two worry important enncltslos j. TAat thv rrisis
1as no caused l,e contraction In The so,ne III tra,c
sLs II grnrtal!y !sgtnrl and. That tra IL wny not
no iutaied and uvertfadnR not geilcn,I tefo,e tito
have hse,, rheYo iaets, 'o9uihcs Vii. ,a annu0 u
!allsouA btAatics allowing lrcrraxs hut rather an
srs +, pu II mosssns psvso f..
thu eflsc.A Of The TnnIc; fur ihny show IN actuui
p'osssa N sle volntns OF business Transacted.
TIE GOLD PREMIUM.
70 fhs Editor a The CT IN 10 7r;suasi
s1R: " Berg "Aas evidently rerauascd yot, Ia oner
your columns again to The dscuss,op whether tho uso
Of insereat coupons in aa'tpaymen Of lut!cs would
natsFla''y reaneo tho gold premium, or, In other
Norda, enhance tue vallls VI greenbacks. Tho Now
York Gold Room, your cadiuQ editorial 1nrc,scd II
Aely, ~ ihe National E1chsnge Which n1rs ths mica
q Ereenbaeks competition. supply, and demand e.
oesasosa ai T. ta'see =" i01
temporarily disarr.ngs IL Neueo do not ncrco tIs
only thp caprcos ot lev wiid spsca,sturs + -
n fact dependent upon laws md raniltius ,urb ~
conditan Of trade, quantity Of gretscks n eria.
tina sn e *hsh es 3, ses1s 4. sna.s.t
Every purely speculative p1ce Is temporary IN ia II
fec,*. and much mors 20 with geld which >" te.diiy
tnA fhsaPy mo.e. t. tue n,stlst witch aYs thr muss
my previous communications " 1lrrx atste. ttc,.
snna pom. prssesy ss sS''4.aT .y.s % ,e IN %
us" dsnsas! for smeie In payment Of ausea.
consequently he EeasnDa that tho istce or gol, ~
measured By g1esnbacls muss lsrgely Decline None
used 10 all saart sale ot gol nor for s1purtastnn.
nor lot manufacturing purposes aud ths aserago atly
amount of tntss coupons thst could le ussd In tbs
waos DATED States III paynleut Of duties would not
exeeed $a0o II II 1t III Mtely, then. that supfly
ahs ~ = small comparative demand for HPcoe could
snnssitats lnscfsst<oupons Or greeubaaks for gold.
thrh .ass 10 much gold will bo driven ons OF ths
Try, aud you are IN Ls eoutitiun ~ befoa-jnst
a. much cursed with trre!eb4be dishonest c,lr-
fsney. however wel-snpportsA and unubjeciioMabl0
~ i1sA beEH Mat'ostt1on may be, more eftc!euk
Hasns sre Needed to hrlus tho uuiel Btatea
enk pae9 70 ~ Aoteal taynent IT in IuK pAst<lue
os0's, saa LIE poop1a 10 &ood, Aotaatt Monsy.
... -.... F, Il. q.
REDEMPTION sosps ron UNITED arArEs sorEs.
coTte4poudent eoA@s the following pyilabus uf