, 1876-05-07

IL.
published in today'a Francs upon tha bankruptcies
Of States proposes the establishment Of grand inter-
national institution Of credit, un3er tho title Of La
Banaue des Eas. which is to operate BY dealing with
nations who In want Of fund Just as tho Bank Of
France would proceed IN tho Of private applicants
for credit. Whatever may be thought Of this project
II scarcely presents panacea for the Present Of
Turkish and Egyptian bondholders. What the world
would seem demand just now is bank to cover the
deaeiences Of ths past raner Than lofk tho stable
spoadeae< Lo.ldon 1tntcs.
RAILROADS AND BUSINESS.
Railroad earnings have started - on I down grade"
Thtrty-hro roads report for January and February
aggregate earnings OF against SIC, 7a
during tho ar1na months LAST year, gain Of is per
cent. OF thesa only tventy-nins have 1eported for
Harch and these same wentynine earned IN January
and February s13,6481A against 81. 1o3 during
tha same months last year. gain Of 20 per cent But
their earnings in March Weyn o55 against Sc
LIS during thst month last year, gain Of only6 peF
cent Finally roads have reported for certain weeks
Of April and their earnings for those weeks aggregate
S. but during the weeks of 1875 ths Sans
roads earned 50 that no gain 1T al appears
The worst Of 1t s TINT ncaSy ali these returns were
prior to the beginning Of the in treghts, hich
threatens to reduce earnings much below those Of
1875 As an tlnstrauon OF the decline in business, It
b mentioned ths e AP ds 1sFs
April, 1876, only ao.o72 loaded as1a.-7As Public,
NnvL =;
FLUCTUATIONS II INNING BToCEB.
The 1sta- California Of Saturday Inst says with re-
gard to the onslaught made upon tho Bonanza stock
ne sses us ps has Witnessed s o 1S'. syaonz ~ o.
the days Of the pano laat August For the hreaEa OF
the past week there hsVo been lasa causes than for
prominent brokers haye whntaver credit-H there il
auy atachedfor the succesa Of their plans enEching
themselves st the sacrifice of III claims 70 rectitude
employment Of customera' stock, and the eoncenra-
toi Of capital the means combined that didsthe
have there been such Hattering Developments and
prospects. Ali tho way from Sierra Nevada On the
north to Knickerbockel on the south the tnost e;
crosscuts and to sink wtnzes to either prospect the
mines Of drain those filled with water in order TO put
them In . condition to admit Of The resumption Of
work a. soon ~ posable. California liz contributing
ter millions and Con. Virginia continues her usual
heavy ehpments: ophir and Bechec re running over
she matter With ths ines-the difficulty Les With ths
depression tn prices
SAVINGS BANKS.
The comparatively high f1te Of per cent interest
paid By savings banks often leeds them to taxa risks
fhat would ha avoided BIZ conservative financial ins
tutiona. Tic savings banks which have collapsed in
New York have In nearly every casa exhibited mean
eholy sxsoxsmant Of broken securities that promised
impossible rates Of interest," and ct risky negotiable
paper. Tbs Bucksport Savings Bank Of Maine, re-
Gently suspended had the most Of its deposits invested
In railroad bonds, which tho interest hna been de-
fatsd Tho necessity Of paying per cent interest is
bu7dcnsouae and dangerous in thesa days Of depreca
ting securities and shrtnsing values. It would be
better to lower the rate 80 that s hanks could ake
s9fet investments. 80, =
Goy, 1naersal, in his Latest message, gires an sn-
eourzging staauaea. of tha ooqdlHga oe Connect out
savings banks: -.
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