, 1876-04-11
FINANCE AND TRADE.
a Comparatively Quiet Dny In
Financial Circles:
Now York Exchange Firm...Ths Clear
ings R3,200.00o.
Easicr Produce Markets'..Prosislons
Steady...Grain Weak.
FINANCIAL.

Tho business Of The tants displayed no new fea'
turcs. The city demand for bank favoTs visa not 'arQo
but tho tone Of Tic 1onn market Tss htin. country
balances rtmzin low, Al tho country bspfs nase hos
get been able to replace Tho funda drawn out 10 carry
cattle and stun. Tbs surplus Of losnablo funds IL
su1lcient to AfYord accommodations 70 al dcsifaoc
borrowt1 that appy, bit Is not 50 depressing TO tho
rates Of interest a. 1t was month ago. The easne"a
Of list weeh was considerable Improvement on that
Of the wcet beorr, aud tho luducuco vas felt favor
eely In tho loan taatsek Tic weather haa stimulated
tbs w1,oIcsale md rptail trade and Increased tho
eouutor transactions OF tho banks. Good negotiable
paper IN IN demand.
lsatca Of discount 1t the banks B31o Per cent.
Tho latter rnto Tn1cA for regular cstomcB. but con-
eesslona arc mada to independent borrowers.
On tho streot huslness qulst hates hro 7@la per
cent.
Now York exchange was firm At 60375c premium
pctvocn banks for $1.oop.
Tho currency movement was light.
Tho eiearinga wera 81 ,2Qo,Goo.
AMERICAN RAILWAY SECURITIES BETTER THAN FOR
Etua ONES.
r,,nor l1aa been current In tho German and 6wiHs
uewsInpors tint The 81. 1othsrd Hallway Company has
lost large sum by tho depreciation Of American ra
way aocurice, In which IL invested portion Of its
funds IL 1879. Tho Company, howovcr, g1vca quito
different vcraop u tho Atter II ta recent report to
tho Swiss Federal Council. Is ndmits ! dcprecia-
tIon Of os2,34a francs according to Tho New
York ,narkat rates on tho 3Bt Of December
tast, 10 ofTsee this. howcrcr, thero is tito
difference in tho ratio Of ntcreat borne by tho An,crt
can securities and by frscsass Swiss and German,
rnfleny bonds Tho rao Of interest of the latter 10
~ Tor cent md tho Company statos that tho amount
Of lntcreat it has received the American SECURITIES
If 7s5 tsa ssalcs iastoad Of Ioss. therefore, tho
Company Inns gained 5oJ NY francs moro than i would
nS Sond. sd naa toss anere 30 esciaon ] Ill.,
In fact the depreciation N valu1 Of seh bonus las
been arouot than That Of tue American seeuFaa pr'r-
chased by tie st. Qohard Company. Tho report says
class ~ per cent Sviss and tierran railway bonds,
e Ill q Il iss woud ha1s beon ssss7
rancs. adding ths sum to the gain from a. hghor
of profit realized by Cumpauy from he Investment
In American sccs'rtcs ovGs aud atoso what 1t would
uaro gained hail Il purchased Hw!Bs and German
bods-ChsoH,ec D the Continent, Ge1strd, HaFeh IL.
Az ENGLISH ExrEHT ON THE SILVER QUESTION.
The London ii,ncs Of March II gives synopsis Of
tho abatement of Str Hector Ia5, an authority in tho
london bullion market, before the Parliamentary
Committee Investigating the depreciation Of ntycs:
,res.e ase qfo e. s e q ssss
1878. THO United States produced 1alf tho silver
imported efso an Sh 5 Aesea .Sgsfsr f sSoSs
production III o Unitsi states had not resulted in
formation III respect 10 tho United Btates we're tho
sepo,t ot .ha Director Of tlo AInt tho Mining COM
ls76 nbout 1ou Of silver had been sold by tho
permau Government most Of which llat probably
Franco to tho German Government WAS probably paid
Ia coiE and It had already returned Ia Franco in CON-
leGetce of Tho sponctzAton Of allyer by Germany.
That dc1uouctzation had boen causs but very un-
neceasay, of tho depreciation in the vatue Of Eilvor
inastuuen tho amount denonotized WEB insufficient
TO eprociato tho yauo to tho e1tent to which II had
tallel Tho fear Of largo nmount Of 0cr1nsn silver
being thrown uron thu market was tho PRINCIPAL
rause Of tho depreciation. lilo beloved that In tho
eourso Of fsw ycars silver would recover tts value
uuless Franco iononezed her silver. hr. pifcY. Of
ti1ley Abcll, bullion brokers, Thought Hir Hectors
estimate below tile mark, and TINT tho annual PRO
hucon Of silver nhout 800 900, 600. Recent dis
coycrns Of silver In Nevada aud elsewhere bar not
much Influenced tho markot.