, 1876-11-21
Ehe Loon Market Of Chicago Like That
Of tho Rest Of the World.
Deposits Steady, Discounts Light
Capital Conservative.
@he Pr0dree Markets Less Steady..sf Pro-
visions Ftrmer, with letter
Demand.
Bseadstufs Quiet, Wheat Tending Down.
warl. Corn Irregular.
FINANCIAL.

Tho situation Of local finances Ia like that fe~
parted 10 exist In nearly nil the centres Of buaness
throughout the world. In New vork. Boston,
Philadelphia. and Other leading cities tho financial
articles Of the pre,a describe the state Of Affairs 10
be steady bnt quiet. As III Europe. lhs loan mat
ketI depressed by tho changing prosrccsa Of war
and pesce anaaces In this country arc temporarily
kept quiet by uncertainty in tho political future
Tho atcAdncts Of the premium on gold indicates
:4hat tho combined cascnationh Of tho bnsfncls
community car detect TIC causo for apprehension.
~ n certain that wetc there tho least
>'slarm tho premium on gold would begin to flnclu.
ste At once snt widely. Al tte same tine. the I'M.
certainty Of the rcsnlt oncratcs in a number Of
ways against new activities In business and bank.
ing II woulA be hard for those who act on this
motive to dcscrlhc how or why they dna Real.
esthsa Investments arc delayed. savtngs banRs haye
2tas demand for their 1o1nnhlt funds. fewer ptct.
urea arc bunght cvcn household expenses nrc less
.dsecty incurred. Tbose who loan less borrow less,
Spend ltas. havc, when Questioned about thear
xessons, hardly anything more definite 10 say than
that they "Ruess they'll walt" Tbs aggregate
effect Of these abstcntions 10 very perceptibo.
Tho loea, loan market was quiet. Tho Offering
rof paper, thoagh Of ait kuls. was limited. and not
sufficient 10 give adequate employment to the
funds of tbs banks.
i Rates Of discount wetd SOLO per cent to regular
{thstomerB. Good outside borrowers obtained
atccial rates in cnscs, nnsnens On the street
IL dull. natesa 7 per cent and upward.
New York exchange was weak and sold between
banks at par TO &c per 81, 400 discount.
The currency orders from tho country were not
hcavy.
The elearlnga were SO, eco, coo.
THE INSURANCE. COMBINATION.
Combination among tho Insurance. companies ta
almost, though not Vute. rs lari to maintain m \
railroad combination. Tho holly known as the Ma.
nonal board Of Fire Underwriters Las bcen for
(s,n 1fnfa fnkf tl,rt..
members Invariably agree to charge Ioar.l rates,
hit only the reputable companies ndhcro to them.
The North british md Mercantile Fire INSURANCE
Company Inns Just Withdrawn from the National
Hoard. for the rehson according 10 general Under
rtauding, that they could not AFFORD to be- governed
by 40 agreement that was not observed hy all tho
other partitH to u. Drr companies said 10 bo
OF the point of withdrawing, and dissolution Of
the Doard Ia threatened.
TAXATION o. HANK SHARES IN NEW YoRK.
1thas jnal been aucideA by thu Supreme Court Of
New York tlat tho shares OF bNnks, State or Ma.
tlonal, IN New York, arc 10 be nsaesscd for State
taxation on THUR market, not their par, ralue.
The case was that nj the tlaliattn National tank
Against The Commissioners Of TAxck. Tho New
York banks complain tint business Is 10 dull that
they can no longer pay the taxes they bare with.
out Inconvenience during the Wnr. Efforts will be
nade during thu coufug srsrion of Congress to hare
tho national taxes on capital, circulation, and de-
posts modified or partly 1emttlcd.
SILVER vTNptcArED.
The c7ear on tho R'lycr question that Was read
by N. Ccrnuschi as the recent meeting Ut Liver
pool uf the socat Sctcncn Association IL reprinted
In tho Commercial anu Financial Chruairie Of
Nov. IL. II. Cernuscht ID the foremost ndyocato
nn'ong tho French economists Of Tho fonble stand.
ard. ana pits hnself cs,.cally nsa1nst Al. Chcval-
irr. n. ccrnuschi dw"]ls on tho Idea that tic
, depreciation Of silver 1aR been caused by hostile
feHiH1nftnn. IN In lin