, 1876-12-30
THE Receipts Of Currency Nearly Equal
to tho Shipments.
The Loan Market Wording Cl0sess'Ncw
York Exchange Firmer.
Chicago Savings Banks Reducing Interest
on Deposits to s Per Cent.
The produte Market Active and Stronger.'.Prasls'
ions stu Tending Upward.
Wheat Excitea by Continued Abaenoe
of Tsain in California.
FINANCIAL.

FINANCIAL.
The currency tide is nboat al its tuning point
The receipts by The hanks are nearly, anu IN sons
carer quite, equal 10 their shipments. The out
flow hns been very heavy, and haa contributed
great deal 10 tho increasing ttoscncss Of lac loan
market. The demand from thu Board Of Tttde Tor
lonus with which tn make the settlements o. tRe
lat Of the month"; and FROM The paekets and pfoVlaion
men. added N the regular mercantile and mlseel'
1nncous applications for accommodation. nave lta.
dnccd very pcrccpttbe coscness In the financial
situation The banks ind that they have ABDUL
all they want to DO III taking caro- Of thrif Gus
toners, md outside paper tnccis with Ices ready
acceptance than ten days ago.
Rates Of discount ase s&tlo per cent to regular
cnstnmers On tic street fates are per cent and
upwardt. New York txchnngo was sold between
hanka al T5cGl$1. 0D per 81, 900 discount.
The clcarings wcro 50. GOO, 600.
REDUCTION or sAvtNus-nANK INTEREST.
Tho announcement that s0voral uf our leading
savings banks about to redact lhn rate OF In
tv1cat on dcpos1la will inspire additional confidence
In The security ana conservative management Of
tuusc Institutions. The Illinois Trnst and Savings
Danl, on nnl after Jun. j, will, instead Of 0, pay
rcr cent OIL MI new deposits. and will reduce In
tcycsl on all old balances to Tho s1mo Ggurc after
duly next. The Nbcsnian Bank has determined
10 reduce !nicrcst dcposta 10 s ncr
cent, beginning with tic new year.
The s.ato Savings Institution will lnausnratc
The sano reform, beginning July !, 1877. In The
prctcnt condition Of tho loan market 1t Is di'lcult
10 peo how savings banks can AFFORD 10 pay u per
cent to their dcrostors, and TnE Tn'nusE has re-.
ncatcdly urged upon tho banks tho colrdo they arc
nuw beginning to adopt. The flrst requisite Of q
rawlings bank is that II should ID safe and tho re-
ductton Of Tho interest paid dcpob[tors tends
directly and strongly 10 make savings banks fafcr
Tla action of the eayInsa 6anks IL 10 be commend.
cd for precisely tho rcnaona a. tho reduction
innnguratcl some time ago by most Of the COM
mcreIa banks Of this city In tho tntcrcst paid on
country balances. III caell case the result Is to
Lessen the temptation 10 r!sky Of deposits in
order 10 make tho required Interc4t. In cach caso
tho t,!Hing elimination In the receipts of tho dc.
posftor IL moro Than made good by tho height
cncd certainty that ha can get back hls money
when he calla for 1t.
LlFE-1ssunANcE.
Thc Ashnry L!fo. Insurance Company, which had
q branch In Chicago, ami went into the hands Of a
Receiver In October. lH74. l,us not yet settled with
It's pulley holders. This Company Ind strong
tlcnomlnat'onal support among the Mctholtats, but
oxtravagnncc md inctpc.icnce swamped It. L!t!-
CATION for tho dIatrlbnton OF It's assets has bcpn
pending for ycnrs IN the Now York courts. Mean
xhtlc no money haa been disburscl either 10 tho
Receiver or the counsel, Most Of tho policyhuld-
cts arc Eata by the Iceelver 10 DO .'p0OF Mctho.
dist n,lnin,crt whosc easarcs ass barely sufficient
10 keen body and soul togcthor,"
Tie immediate future OF lift. .lpsurauco Affairs Is
aalA in New York to be full Of nnxiuty and dis
,rnst. prcmon!tuns of danger arc widely felt and
szn,csrrA, The Security. which. in its last sworn
statement, showed a surp,,,s OF $500. 900, fs not
pspcc,e,i 10 uay over 20 cents on The dollar Tho
examination now In provrcss Of Its hooks is reveal
Ing the most astounding misnlanagenent.
fa'ESsnES3'Ah FoLli.Cs AHD 1hH NE" ~ III"
cENIs'
Some OF Tho moro intelligent OF tho New YuFE
bankcrt purtics to tie syndicate for funding mart