, 1876-09-08
Considerable Activity In Financial
Circles Yesterday,
"a New York Exchange Firmer--Clear-
y: - ings, $4,000, 900.
Tho Produce Markets Active and
Irregular.
Provisions Strong...0ats Flrmcr'''
: Wheat and Corn Time.
FINANCIAL.

TeatordAy the effect Of the chcapentnR IN the
rAtnA OF interest On our manufacturing lndn&lfics
WAS briefly noticed. This Is ono Of tho elements
that Ii essential 10 their success The bfcak Of tho
cosl monopoly is smother equally important fact,
and II cannot fail Ia encourage largely our product.
tvo Industries. II Is calculated that tho reducod
pslco At which coal must hereafter rulo In oil tho
markets OF tho country will be cqunl TO per cent
ON tho cost Of manufacturing cotton And woolen
goods OF course 1t will hnvc corresponding cf-
feet upon running tho machinery for the pfoduc-
t1on Of other articles. Give Chicago money at say
GOT per cent and cheap fuel and her people would
add vAlucs to her raw materials rapidly TINT her
progress In wealth from this source would pcrhhpsbo
faatcr than either lior commercial or her nercan.
tile lnlcrcsts could realize. The mercantile and
commercial supremacy Of tho city Is well assured.
sho needs only to stimulate and foster her manu-.
featuring industries TO outstrip in very few years
nll competitors anu demonstrate that tho wealth
and the power Of tho Continent for nll futtfo tmo
arc 10 be located at the head Of Lako Michigan.
and In tho city Of Chicago.
Tho fall in tho price OF coal Will havo marked
effect nlzo In keeping down transportation rates to
4 low 15ure. It will mike difference Of $780,
GOO and urwardn In the expenses OF our leading
rallwsJb, that In whnovcr light tho fall in the
prco OF coal Is regarded It must add 10 the wealth
nnd the prosperity OF the entire countryside rail-.
ways and the monopolists Immediately Interested
alone excepted.
The activity reported for Wednesday, continued
through yesterday 1tis, : great relief from tho
stupidity and the dnllnca& universal wcok ago,
and Tor many weeks previous. Orters for currency
from country correspondents begin to assume fair
proportions. and paper for discount is hlso sent
forward In reasonable amounts. City operators
mako occaalonal calls at the banks; but the mer-
camille classes goneray st!l appear 10 have abous
all tho funds thoy need IT, customers discount
rates are, as heretofore, a010 per cent; but with
approved col1atcrals on largo loans 6omo Of tho
banks would st''l conccde l02 per cent below
oven The lower agure. OF course money Is abun.
dant far beyond tho immediate neccsaitlcs Of lcgtt
tnate buatnets.
Very little is doing among the nots brokers, and
tates are nominal at GD18 pet cent OF courne ths
uppor ngure carries with it Q very considerable
risk
New York exchange IL hsmer. No ssles werc
reported below 50c per 81, 900 discount Tho
market however, appeared to bo fully supplied at
TINT figure.
The bank clcarlngs wero 50. 200. coo.
ritE IRON INTEREST.
Business in the iron.producing interests Of
tho country In s.!ll sorcly depressed
Probably the West can scarcely 'realtzs
how YevcreIy the people thetcaway must
suffer unlcss better demand for iron can soon be
realized. The Lchigt Valley produced for many
years about onc-hoyonth Of the iron need in tho
whale country. 4 pTlyatc letter from gentleman
largely Interested In the Iron lrado writing from
Eaaton, pa., under date OF Sept. &, says:
Thu business fu Of our country {the Lel!gh Valley
iron. and you can scarcely Imagine se dullGess Ii
UNcsa there IL relief In tho immediate future
theru VIII be kgeR suffering among III during tho COIN
1nE wtatcr. Wages ]lafe dccrra1tt nearly half; I'M.
1ory nf oHr hborcrs out ~ work the vaatiHn Of
stocks A4 diminished W per cent, sud many who relied
" % !ss sads Rs e. @ 1t &
Oh natural result Vt the t01 1Qpd md unwafranted
eIHculat!ons which were SPREADING oil over Tho and
Ttno md patience and rigid economy will restore
prosperity to Iron to nll other interests. Old
debts nust bc lqui,lntcd and capital must accumu-
late still more bcioso now enterprises and new rail.
ways will mako satisfactory dcmanls upon ouI
ison-mastcrs. They must possess theIr souls In
patencu and walt,