, 1876-07-19
rhb Now Popular City Loan Probably
Failure, and Why.
The Situation at tho Banks Do
void or New Features.
The Produce Markets Steadier~@
Provisions Quiet.
Oats Tlrmer, and Other Grain Lower.
but Less Weak.
FINANCIAL.

The 'new popular loan" proposed ny tnd f''
nance Committee Ut tho Common Council as
means at escape for the elty from, III peenn'afy
embarrassment bears 3 per cent Interest, and ~
offered subscribers At par. Unfortunately, while
most Of tht loan, which has not prorrd very pop
ular remains untakcn, new city certificates drawn
agaihet tho taxes OF 1875. i.snea 10. contracsots
and Other creditors oi The city, laso made their up
pearance on the streets, md Arc hollins At H. A
lhey tcnr t,at cent Interest," this ts equivalent 10
II coats discount The city IL enlcavosinN to Sc
ture a loan OF 81, 900, n00 At 4 per cent 0t Inc
pame TINA that its obligations ara selling IN
E.o brokers' Offices ut . .pflco wh'eh
tclds u per cent interest," 1t 10 hol liKely
thai lenders who can ret 10 Will voluntarily axe
t,pcr cent interest for thcEr money. TIC psonao.e
ranlt Of this competition Of the CITY WIN ise!s
I'LL be tho abandonment OF tho popular loan. ih's
tnotn pleasant ifsnc OF MI The ehofh maae 10
npply tho City Government with means 10 con.
lnIc and the failure Of tho 81, QUO, ooo loan nst
apparently he Inscribed TO scFY poor Ananclef'ns y"
pn1obodyE part
Tho hnnks arc Receiving An nn1saai n"nooN .o1
1c aeason, Of applications from country uahas 'o1
mdisco!nts. The loan market IN the intenoe -
much less cafs l'an nero aluen @. t"e Papet Helu
,ary for them n,o to carry larger proportion than
p.ual Of their customers, who wcro nat v11ins 10
sl in s.t they considered u1tasofss1 , srsS
Hl1s tendency.
In tho local losn market tho demand for accom-.
"a.ons . sonnsa to o ,s smallest
Ire scarce The supply Of loanahlc funds Ia large,
,,, -,tn, c+. o,.u i1noulnr r,ston,nrs nro runned
M Msseio per M cent; @ .trcslra.es orc mado 10 indc.
.cut1rnt opntc6ntH
fsnu.n. .p... -. n ,.n. 49,, rn.,,rt1,
1or t{me inns, Thu sup,)y Of rood paper is very
,nalI
E.n, Val, ,,.ho,cc MN, an,1 bctx x4reu honks Mt
806t71c urcmIum for 81. .OOO
Tim ctcdrinra wcrc 81. TOO, 900,
rorsots.
f,rrso,, ros, ~cstcri,nv In Inn1on IN o,11.1,.
shts !, ~ .avnnco =, " IN Mn in.t r,nnth ,,noh
5..I -, =, s.5,to a socnritv M contols rhc liso
T. a.. g. ~. .n,,o ,a,n, I'd ror yrv,s,,,,nt .ccur,
1...s.. sas ."..,.S w., .ho ,r,co ~ nnro,nunnt.
~. ~ s, ..,,s,.ai hn,1s a, nn,,a ,nI !, bns l,oc,
."s,.,sa ~. ,,,, r,sont ,oc,ac u,to-,ncc. ~ Io,t
no'h. ~, ~ H. E,.t.tn ,ro.,or RI, nrc..pt nm.
u.,oy W ~ 49, ai's'a.. s'.a. 1a.o 49,
t9t'ohs n'c 'Ne n'suts' n'uoo io''.
DlaCouET on St1svEn IN BAN FRANCISCO.
There was a good Loa1 of trouble In San Tun.
.,,r, m lin 1st ,n.t on nrconnt ~ ftr af3erf M
I'e'V y" .As .e' '"," w. .msa1 ~ MT. ,,.s,,
the discount On alA'e' oa soltee''oao. luz oe'e'
tin aays:
There was dispoaten to work Ion ns mach silver
IN lie payintnt Of bills possible. and q, conrsra
eonteT dspostln e receive rs ttle =. pdTsoc. Tie
n Fl ~, "a ar H ~ r. .r SrS
that so1aa united action sholilu bc had OIL te silver
s nsteFn ne1h 1nGtt Hat a b1 !. ume ~.
cent di.eo1nt wa r,lnniteI 10 :, ii o1rhanR1ns
WkcfH cren Gct eGi.L WIS uSennnt XVI sWaoMh tns 5ntfG