, 1876-09-19
FINANCE AND TRADE.
The Loan Market Shows Symptoms Of
Revived Activity.
Increased Country Orders for Cur
rencY...Clcarings, s3,300,000'
Tho Produce Market Loss Actives'-
Provisions Again Weak.
Wheat, Corn. and Barley strongsr-Rye
Easier-0ats Steady.
FINANCIAL.

FINANCIAL.
In peafly every direction there was Observable an
increase OF activity. This applications for dis
counts are more numerous. The aggregate Of new |
paper offered IL not large. bnt II 10 an encouraging
sign that moro OF It Is made, and that the growing
supply comes from ali sources. The fall trade Is
opening prospcrously, and tho better commercial
prospects OF the year reflected In the improve
mcht In The financial situation. There IL steadJ
demand from the Interior for loans In tho shape OF
tcdIaconnss 10 movo and handle tho new crops
Thcro Is little co from Hoard OF Trade sourccs for
loans, the borrowers aso principally those who are
carrying whcA And the totnl Of these operations Is
not large. Collections generally reported far.
Rites OF discount ara B010 per cent At The banks
to regular customers. TO ouls'do Independent
borrowers varying concessions arc made, rates
ranging from bn per cent upwards. Bnsiuess On
tho street 10 quiet and rates arc about The same Al
among tho bank7.
New York exchange wns sold between. bAnks 1t
SOC per 81, 600 discount
Tho orders from the country for currency were
hrgcr
The bank clearIngs wcto 81, 3oo, 400.
IMPORTANT TO BANEERs.
An unexpected rcsult hns followed ths issns Of
the AZ per centa. National bankers have begun
10 give notice to the Treasury that they Intend 10
sahatitnto the now 4x'a for tho bonds now
held by tho Department as security for
circulation. Tho New York Journal Of Com
merce OF Friday Inst states that on ThlsEs-
day 600, 600 per cents funded loun hold to securc
bank circulation, were Withdrawn, and ~ per ccuts
tubntltuscd. This step Is taken undor tho language
Of tho law, which expressly authorizes tho it,
1uo Of circulation at thu ratio OF 90 per cent OF tho
market ralue Of bombs bcaring less than per cent
interest," and at the rate Of only 90 per cont Of the
par value Of bonds bcnrtng not less than per cent
intcrest. When the law was passed, @ per cents
wore bringing less than par, and 1t was thought 10
be only prudent safeguard to provide that crcu-
aton should bc Issued on bonds bearing less inter-
eat than per cent at 90 per cent Of teir value not
Of theft face. Evidently, the frnncEs Of tho law
expected that no bond Of the United satcs bearing
tcss thnn 8 per cent intereat could ever be sold
at par. They were wrong, and very Important
results arc likely to flow from thc!r error Al the
present pnce Of bonds, banks that have 9 rcr cont
bonds deposited to their circulation can sell
thom, pnt ~ per cents In their place. and pocket
about SIS, 600 for every $O0 600 OF their ciEcufa-
tlon. Whcrc per cent bonds nre deposltoti, tho
premium they cnn secure Wilt bo about sl5, 900 to
every 500, 600 OF circulation. This can bo done
without diminishing tho circulation OF the sccun-
~. II this could DO donc by alI tho banks. without
deranging the bond market, the bonds securing tho
present s325, 900, COO OF bank circulation would
be specdIly replaced by AZ per cents, at pro1t TO
.hc hanks Of nbout s54, 600, coo.
THE MINERS TRUST CoMPAET CoLLArsE.
The falluro Of the Mncrs' Trust Company OF Potts
,Illc, Pa, Ia ono Of the most thorough bscakdowus
u NIL TINT hnvo recently occurred In financial cir
.lcs. Its deposits S. 200, 900, nearly ali Of
Which was tho savings OF miners, 1nborees, washer
women, heusemaids, and tho like. Only triAing
livldont will DO mndc. Tho President Of tho bank
Nas mobhcd in the streets OF Pottsvilc by women
ifct tho suspension, and 1t only by the aid Of
policc that no escaped with his life.
~
Tho Lo.ru.., e',.cfator Of Sept. 9, just at hand,
,a4 MI cttor,u un zhu Unitcd States debt In whlck
twarlnly commcnds the results Of recent Ameri-
:an finance, while disappearing OF Its methods. 1t
~emnrEs:
G s M g g e III
sn. ssas calling II n saa!ys1eIHt f.. .moant Il III
81
H. n S w II s s'fs I'll
' M Ss o m - E en,. IT,, s y e
f,s
~ sa l. s'1 efssp s ssa liz
Ecu ss ss sf ;hs L H's ss s' e
# T Ss ;ssay s VI ~ I'll ss
III o q r s s = ss x s b. PETIT ssfsS Tsa #
fsnt tSad,. III. !. aaFaiassnt resI!t q persissss
II aS M aaay ri
served, VII hss won sisec,s wssths doGKed psrse;
an SSs RHSSf ~ s
ti0D.
A NEW YORK BRANCH FOR TIE nANK Or
NEVADA.
According to the Public, Mr. j. @. Flood OF
Flood L O'i}ron, who Ia in New York, Ia scrionBly
considering the establishment Of branch thcEo Of
ttu Bank OF Nevada. Th!a bnnk now keeps an av.
crago balance OF S. 900, 600 In New YORK. and haa
altogether surplus Of s11, oo0, 600 In coin. rart
OF tho scheme il that tho products OF ihe Nevada
mines should be shipped to New York. Instead oI
San Francisco. They amount 10 81, 600, 600 tc
g, 600, 900 month.
AN EVIDENCE OF REvIv1N1 BusIEEss,
The clearinga Of tho banks arc an unesElng iuloz
OF the volume Of general business. They have
hcon anxloasy watched for the past thsce years 10,
The first sign Of improvement, but haye reelected
only decreasing or stationary state al
tsa,1o until recently The c!caringl
Of tho principal cities for tho week ending Sept o.
1a7u, show for the frat ti.noin many months an in
the ctearlngs OF the corresponding wccl
Of the preceding year. The following are the 6g
uEes In eAch year. Tho noston ccarings incIud,
eight dnys. The 81. Louis c1enringt, for purrosc
ri comparison between tho cities, should bclyile
By two, ~ the Clearing House ofthat city for aom
nnacconntublc reason, adds In the debit and creal
:lcurlngs tUsetlcr:
New s3Ga. a.a. III s3s2 ~. tc
llHhon' -. hStNH. NH MI StA. III
i!LatclphiA ~, 77thbt 81. 82l. II
L!iEAHo lht1NhiHl :ahAAsH
n. LOUIS II, bJE,SJl III EbJ, "
4+Hl.,5l4 *,sAE. ~
NC~ Ufeans.. a.Rb,b3J 4.3lo. II
TotaI,,,.,. fain tu1 a,3 64De a. 0l