, 1876-10-24
A Fair Demand for Discotlnts".'
The Clenrings S3,OOO,OOO.
The Proiluce Markets Less ActiTe anu
Steallcr, with mn Easier Tone.
bnt Close Firm.
l Tendeu,y 10 DnlIntH Ia Stytsal D.partments'''
Reaction from ths May Excitement.
Grain in Sight Foreign E1ports--Tho
Supply Of Wheat to Western
Europe.


The business Of the lny In dnancfaa circles was
mt marked by any changes In tho general eohul'
tion Of affairs. The orders from tic country 'of
currency wurc again light, anA considerably belo"
the ayeragc Of u fortnight since. Various reasons
arc given for this change IN currency ahlpH,cnt''
such IA that the wheat crop nmountt to much ltfs
thnn was supposed, that the farmers arc haldlhR
back for bcbpr ptlces, and TINT there IL scarcity
Of cars In which 10 move tho whuat to market.
Tho supply Of paper Ia moderately good but thcfo
Is nm abundance OF loanablo funds for all demands
md the banks could safely enlarge their dis"
count Inca II cnlled upon to do 70. Deposit
lines arc lower on tho whole than
at this time last year, mainly on account of the
poorer talnuccs kept here by country correspond"
cnts. The amount Of commercial paper offered ia
not large, but tho miscellaneous supply is faIt
Altogether, tho loan market las bccn, and ls
working closer.
Rates Of discount nrc a@ 10 percent at the hanks,
with special rates In exceptional caAcs. On tho
street business IA light with ratcs ut per cent and
upward. ,..........,.-.
New York exchange was sold between banks at
7ac9eS1. 90 per 81. 600 discount.
Tho clenrngs were 50, 200, GOO.
RAILHoAD BTocKs IN WALL STREET.
Rsilroad managers and their friends ure sa!d by
the Now York papcrs TO hayc given much
Armcr tone to railroad stocks In Wntl asrect
by making purchascs on tho strength OF
information TINT rates wcfe Rbont to be
rntsed. They operated on tho calculation lhat II
rates went higher earnings would ipcreatc, and
with them The value Of tho stocks Tic prices OBJ.
taIncd at tue last sale Of Pennsylvania coal were
such tllat tho sound coal companies can gct their
money back but not such as TO help out Companies
Hike tho Reading New Jersey Central. As 10 tho
competing railroad companies, there seems no rca-
eon why every one OF them should not BE- content
Tho Vanderbilt roads have hccn ahle to earn A!vi-
,dcn1s, ut the war rates. Of per cent on New York
Central and per cent on Lake Shore. and
t.the Bn3tlnore & Ohio nna the Pcnnsyl-
.@vAnln have donc Us well. Ehndcrbilt's
:.rolicy Of insisting on aa low rntcs from
:ahe West TO Now York to any other scahoEl port
As bringing him great popularity besdcs profit. II
eshis riraa believe ns they SO constantly nssert,
}that he is acting contrary 10 oil Roita business
4prnciplek In hauling nt their rates over Ills longer
Mine, and Is certain TO ruin himsctf, why do not
they leave Linn ulonc 10 ruin himself to tllcr great
psoats
CAPITAL n RAILROADS..
y In the last thirty yours The amount Of the worlds
capital Invested In railroads 1as Increased from
sh7U, O0O, O0O 10 S11, 1870, GOO, 900, excluding the
sinvcstmcnt. Of countries like Turkey, Aurtrn,
Hungary, Erypt Italy, Spain, and the South
American Republics, which llarc put the proceeds
Of millions Vt their Government bonds into rail-
soads. or This immense tota), the tnllcd States
has spent the tasgctt proportion, 81 500, 600, COO
England, s:t,@so, 600 900; France. s2,ooo.-
Ouu, 900; Germany, 81, 100, 600, 900; Nuss!a,
s1,a5o, QUO. 900 In 1915, tile totai In.
vc1tn,ch. III railroads, accor.ifng to tllo write.
in Frascr's Mag0tiNe, from, whom the nbovc figures
nsc quoted, waa but S5ll, 600, 600, Enslana't
sare Of which was S3o0, Goo, 600, nnd thnt Of this
country S1D, 000, GOO. Tho natonnl debts Of tic
clyzct part Of the worldar S13, 600, 000 600,
which embraces part OF thu S1l ,I3o, 600 600 III.
vested III railroads. hut how large part VIC have
mn NJ sleinrnfntnr.