, 1876-12-13
The Packers and Country Banks Keep
Up the Supply Of Paper.
New York Exchange Tlat---Silver
and Small Bills Scarce.
The Produce Markets Moro Actire and
IrTegulars
They Advsnes on Change, and Decline
Afterwards.
Stocks Of Grain In stors-Whsat aud Corn
in England.
FINANCIAL.


Thu prlaetpa, part Of .hs supply o} negotiable
paper Is offered by the packers and the country
banks. The demand for loans from city borrowers
Ia only moderate. Thase II = htesdy amount Of
applications from the inferior for tcdlscount.
There Ii an abundance Of loanaais funds and
aotno snrplus. but tho loan market IL not ovetbus
dened though al Tho sano tlne it Is not ~ active
a. was expected before the presont political COM
pllcattons began,
Rates Of discount wero so1o per cant to regular
cnstomerss special rates arn TO be had In soue
cases. Rates on the street are per cent and up.
wards.
New York exchange was freely offered, and was
quoted 1t 75c@s1 90 per u, 600 discount, between
banks.
The orders from the country tot currency were
largo, and currency Was received from New York.
'Ths c1easlnga worn s., 100, 600.
PERSONAL.
At Atamcctlng Of tho Directors Of the Third Ma.
tiona1 Bank held ycstcrday afternoon, MI, William
T. Smith was appointed Cashier In plucc Of the late
Lnclus V. Parsons, aud Mt 7. D, Hicks Assistant
Cashier. Mr.. Smith hAs long been known to tho
bustness public IL the efficient and aGab1e AssIst
ant Cashier. Mr.. Hicks Wa promoted from cor.
reapondtng clerk, which position ho has occupied
atncs 1917. Tho Directors OF tbs rhlsd evidently
believe Iu civil ssrylce.
TIE SCARCITY or sl1vHn.
Chicago bank that IL In neqd Of $5o, 600 In sill
yer 10 MI the orders Of It's customers found itself
unable yesterday TO obtain that amount IN Chicago
and autographed 10 Now York 10 kpnw at what rata
It could bs procured The price In New York waA
found to be three.fourtha OF per cent premium.
This would make the silvorcost In Chicago. includ-
ing all charges about ~ per cent OF $50 for the
1ok This 10 too largo sum for tho bank TO throw
away, and In consequence IL onatomos will either
have to 60 without tho silver or to reimburse the
premium.
SMALL BILLS WANTED.
Ths bankers OF this city are very much cmbnr-
zasscd By the lack Of small bills. In one lot OF
81, Uo0, 900 In 1ega,.tepaers and National bank
notes. only $40, 600 In bills Of snalle. dououina.
tIon than $50 con1d bo found. The bsnks have
been drained Of small bills by tho osdors Of tho
country bAnka for currency, and the hitter are
atllt clamorous for moro, although they cannot be
supplied.
REDUCTION or BANK1Na cAr1TAI IN NEW YORK.
A formidable movement IL under way among the
New York banks for the reduction OF their capital
in order to escape tho intotctable burden Of M.
tsonal, State, and municipal taxation. The Fourth
National proposes to leAd Oh. Its stockholders
will vote st the annual meeting on The 9th prox.,
on thu Recommendation OF tho Directors, that the
chpta3 be reduced from S., GOO, 030 to 81. o00 O0o
In circular Issued 10 The Stockholders hy the
nircctnrs It Ia stated that tho business Of tho bank
will mt b. damaged by the change. a. H. capital
VIII tReH W cAEScAsA unay ny tHrcd 0I1Gf
Nhtlonn Danlts, and that tho stockholders
will gain the beucdt Of equal proats With much
smaller taxes Two other hanks are said 10 be
preparing for elmlnr action. The New York
Clearing House C0pmlttce on Taxation has been
debat!ng this subject, and will report to.day to
the Clearing. f1uuac This immediate occaslon Of
this action ia The leaIelon Of the Now York an-
thortes to tax the banka on their surplus, capt.
tal Tho Innks claim that tho national tnxcs,
APPOINTING 10 poe cent, were by law imposed In
lieu of nil others, md Ia this view thoy arc amp
ported Sy The Hon. E. 9. SpaN1dlng, Of nufralo,
who wRs member OF the aub.com1uittce that
drafted tue nntionallaw.
THE GOLD MOVEMENT IN LONDON.
During the five working days which have eapscd
since tho last bank return was made up, nearly an
million OF goldhos been Withdrawn for export
and there arc Indications Of q continuance OF the
chlux VI the metal Germany ia taking gold 4rti-
AcIally, the United States Ia drawing It from u, IN
tho course OF trade, wlllo tho position Of the
French exchange, which Is now at the specie point
strips The market Of all aretyals other than sov-
creigns. The weakness Of sLe French exchange
as the moment Ia dun to money being In better de-
mand at Paris and to the ehlcs In thls market Of
EgyptIon bonds on French account. Short loans
hnye been rathor atmer to-day ut X to 4 per can't
but there IL no spprccable change in tho discount
rates, nor Ia the supply Of bills batter. London
Timer, fov. Fl,
THE EMMA MINE.
Tbs Directors Of the Emma Mining Company
have lasued q circular III London, In which they
call the attention OF the shareholders to letter
which thcy state has been addressed to them by
BIZ. A. W. Mcppugalt. tho Chairman, In reference
to the steps taken by him, at hls own expense, to
discover what remedies arc open to tho Company
aa against the vendors, promoters, and original
Directors.
COMPARATIVE CONDITION or THE NEW YORK
NANKB.
The following ahows the condition Of the New
York Associated Danks at corresponding periods,
for three yenrs:
ne. 0, 78 pta+ II. rs. Dtcl1, ~,
npcc!e.. 61d. 4u0 9fd a, &CO Ht4 4lb
Legal AenItra... 3d. H73, bu1 ~ so, aJ 10 40 SSj
Total reAsrvc. .Sau :D7 $40 So gto $50 xHA Ds, IN,
Calculation 14,uIl,kQQ " l1h,:ku ~ Bt4 Mo
Drpoaits... w. a1u kGQ eGG DM.ptG 9lH 4lH l1
Legal rtsetye... S3 32. 100 slim. tbs ss4 0 COO
E1eeBa over lcKul -
FeSfFFd,.-,s..+.& S1f&. Ou T. 1lA176 6tO67, lCQ
loaAA.r..,....... 25ee eal.uo 2eal Sy04O c84oS. AW
MEMORANDA.