, 1876-11-28
Liberal Receipts Of Currency from
New York.
Moderate Activity in Discounts'--The
Clearings, $500, 900.
Tho Produce Markets Rather
Quiet---Bnrley Stronger.
Other Grain and Provisions
Tending Downward.
Exports from the seaboard-Anticipated
Advance In Rail Treights,
FINANCIAL.


The hsdstrfbutIon Of currency from this point COM
Times heavy. The legal-tcndpr reserves Of New
York begin 10 show The effect Of the drain on them
which has been In progress since Sept l. The re.
serve In New York In now only $40, 900, GOO. and.
Judging by the movement In other years 10 likely
10 60 Is low ~ s35, 900. 000. Tho circulation pf
tho currency aent out ID rapid, and this cases
greatly tho demand on tha currency reserves hero
and Nav York. The bills now being shipped 10
tho interior will reappcar In collections soon
enough 10 10 sent ont again, and perhaps several
times, during tho present movement.
The demand for discounts shows some lnprove-
mcnt. Tho supply Of paper Ii bcttct, and IN gcn-
cral tho situation Ia healthier and more active.
Tho banks Lnyc an abundance OF loanable funda,
and could meet with case sitter market than now
e1tste
Rates Of discount arc 8010per cent at the hanks
to regular customers; special rates ato sometimes
made 10 lrst. class independent borrowers. On the
strcct, thcre is q scanty supply OF good paper
Rates are : per cant and upwards.
New York exchange was sold between banks at
Il per 81, Oo0 discount.
The clenrings were 50, 800, 000.
THE NATIONAL HANKS AND THstn nAD DEBTS.
In tho forthcoming report Of tho Comptroller Of
the Currency come figures arc given about the
amount Of bad debts charged OF by tho National
Hanks during the past aecal ycar. Tho New York
Eattonal Banks have carried to the profit and ioss
account s8,813, 759; those Of Boston.
31,sos, 7:2; Of PHILADELPHIA, SIZE, o7o; Of
and Of New Orleans $5l0, FOL. The tota, for the
National Banks throughout the country Ia
about $50, 600, 600. The losses Of tho English
banks In 1875 wero s1s5, 00u, 600 This ia greater
than tho aggregate losses by Insolvency. These
were stated by the London Times, on the authority
Of Mr.. Richard seyd, to huyc been about $780,.
600, 900 for 1876. The grcnt disproporton be-
fhN Enr 1ish ind fnsn Ri mi
bank Losses needs explanation. Tho Financial
Chronicle, Of New York, In commenting on the
figures Of the Comptroller, sceks the causes Of shc
great losses Of the National anks in the plethora
OF the money market. which presscs the banks
into taking risky paper in order 10 find employ
mant for their funds. Thia may 10 30 In Now
York, though we doubt II. II Ii certainly not 10
in Chicago. Hero tho plethora OF bank fuuds ia
itself direct effect OF tho iudlsposltion af the
hanks to take dubious paper. They arc diligently
practclug the lesaons Of tho panic, md would
rather lose somo Of the interest they have 10 pay
Oh deposits than to lose tho deposits. Tho bad
debts that the banks ara now acknowledging arc
almost without exception old dobta that have been
nusscd along in hopes Of reviving In them somo
spark OF tho breath OF llfc No doubt It Is rs truo
in New York, London, and Paris a. In Chicago
that the aceumu1ating resources Of the loan market
are duo 10 the refusal Of the banks to take tho
risks they courted TIL recently,
WHERE DOES TIE bonanza Silver col
II has been noticed with surprise in England Tint
the Increased production Of silver since tho bo-
nanza discoveries In Nevada has not been reflected
In any Increase OF American silver on tho London
market. Tho leading dealers in silver IN London
tinted positively before the recent parl1a-
nlentasy Silver Commission that the bo-
nanzn had not added 10 the supply
visible by them. The British Doard.og-Tradc re-
lurns show that Great Britatne imports OF American
1l..,l1 hal l.n} T.
1870 they amounted to $40, g9;;, 600; IN 1871, IN
e2s ACC, 900; in 1879, to SCI s75 oo0; In 1878, to
e20 g5U, 600; but In 1874, TO only SIT, 176, 600;
Aul In 1876, to the still emalcr amount Of 91i,
A50 600. Taking the month Of October alone, tho
English imports were, in 1874, 5000, 855; In lB75.
81, ,:lO9, Aust IN 1870, s40o. 4d0; honyy decrease
for this year. The product Of tho bonanza mines
Is greater this year than lust sincs tho California
has been opened. Senator Jones Ia credited with
having recently stated that large. part Of tho
product Of tho bouAnxas was being ''stacked" In
the mlnes 90 as not to break down tho Market. u
this so9
NEW YORK sToCK sALHs.
This sa,cs Of stock at tho New York Stock Ex.
change have amounted to Q, 325, 104 shares since
The 1st Of October For the corresponding posiot
Tor 1875. tho sales waro g. GEO, 3s2 shares; the
Estimated value Of tho sales in the Two pcrto1l
were $347 s0l 600 and $685. 0lD, 400, respectively.
The sales Of tho second week In November roven
tho Interruption Of e'actlon-day, being only
Col, 130, againat B08, a4D shares In 1876. Las
week the stock market more than recovered Itself
rulln4 810, 753 slaFcs against 730, 0fl shhres II
1876 Tho bank c!ear5ngs for tho period be
tween Oct, and Nov. ~ decreased s pos cent
This fact shows that general business atycctct
much more uniasorably than the Alock mArkel b!
the election excitement.
GOLD AND uRHENDACKs.
Gold was 104hGD1OOh In gteenbacks.