, 1877-08-01
FINANCE AND TRADE.
Business OF the Banks Improving
...clearings, 100000.
The Produce Markets Active, and Most
Of Them Lower...Hogs and
Meats Steady,
/ Season of Weakness in Wheat. Oats,
and Darley...Stocks OF Grain
! In Store.


There wcrc more counter srnntac.ions. and mort
wa. 'lnnc In negotiable paper. The banks 1,c1n ia
1onk again A they did before the fhtc nnntea.ant-
Still, 1t Is t1nc that, II busincfs wcre 10 he
tamc fully aetive as II week cfore fast. tts
voinmc would mol he ycry rsrat. The strike cnn,u
Al the most convenient sGason IUssfbte. II NC had
tn have 1t. 1t could Eavs occurred at no better
time. The present prospects Of the crops arc n,
Inc that there II every rcnsun to lock for active
fall business among the railroads and country
ebantP.
The supply OF negotiable paper II moderate.
Country banks are applying far retsecounts Rates
vi dscuunt arc E&l1O per cent to rcgntag custotn-
ers: call i.lans arc quoted ut d per cent.
There is fair amount Of conntty orders for cur+
rcncy.
Scw York exchange was nrncr. and was quoted
between banks tt par.
TIE clcarfngs were 81, 200. 600.
CALCULATIONS ON THE NEW roRK STOCK gx-
GnASGE.
The New York HtFd'd of Sunday In It's financial
article say.: ''ThcorctIcsly. coal rocks should,
under t0.uay'A news, hare gonc down: practically
they have gnnn up. Delaware 4 Hudson ro4c from
t's!, tu ii, Delaware Il 1.acknwanna from II Il to
~, md Mnrris Il Esscx iron, Uu!t'to 7.sl. That
they did not altogether hold 10 thcso prices At tho
clusc was simply bccuuse the sharp advance of1erc.l
chnncc Of realization Of profits too tempting to
/" rc-1"lr.L or conrho tho bn!ls Ind thcir rcaaons
for actinn, and they tnok thu slapa Ut Affirming
that tila cessation af mining meant decrease IT
supply. an equivalent increase Of demand. nni q
corresponding ndvancc vt price, which in turn
w"ald 10 reflected in Ttscr figures for tAc atockr.
This theory wunld rcem fair enough a. applied to
the Eans IL be made Ut the selling enh OF Tho linz.
hut unfortunately the lnsscs accru9ng at The pro
ducing end arc neither calculated allowed for. "
SELLING GOLD.
Secretary Sherman will, according TO nn-
,ana Of gold next month. Tho rnli,
w::ieh has bccn procured from tho rub.
scsrtauns 10 thu 4 per cent loan. will be eold
fur tsccnhncka and there It In 10 BE- presumed nro
tn ke bearded, The ntpst direct cuHrnc would
to be to krcp Tho god afncc that II the ne
'ltnn. tn which tue gsernbacka 10 he redeemed
Int in clonsng 10 h1arl gsecnbackA In preference
10 h"arasng gold tho Secretary fa probably acting
In accordance with lilo interests OF Tho Syndicate.
TItse banktfa may havo 10 turn In large a,nounts
Of guild III thu Trrasusy In settlement Of their luu,l
transactions, anil naturally desire u keep tho nro.
MUM low and tho supply large. What the Effects
IN The country ut large n,ay be Of
contraction Of the grccnbaek currency during
tho movement OF the crops hardly be doubtful.
The National l,ank notes are rrdecnablc In legal
tfhLcsa, and ihfs retirement OF tho Ercrnbacks
must give greater impctns to tho withdrawal going
On Of that clrrnfatlun. Tho boarding Of gold, on
tic other hand, wlttcvef lts effect mighi he on The
premium u the cfrcnlntons of the Syndicate. could
nut psunce any such immediately Ind effect gu
tue b'iHthrAs Of thn country bcfoEo Jan. l, i87D.
TILE NEW r0NK HANK SUPERINTENDENT.
The Philadelphia L<dgtr, In commenting on Tue
trial Of j}ank Superintendent Ellis, Of New York,
rays: ''ln tho Ellis trial, before tho Now York
se'l'te. the evidence already obtained is tolcrAhly
conclusive. 1t shows what few now doubt, That
MT. Ellis had before him, for months befurr hc
to"k action uon II, definite Information ~ to tho
insolvency Of tho broken savings banks. 4 neglect
OF duty under huch circumstances practically
amounts to q crime"
AuL1.1nN PRODUCT FOR 1UxE.
The bullion pEonct for juno IL the largest Of any
month thfs year. Tie twenty -ono leading .nncs
IN California. Nevada, AMI Utah haye turned out
$4, LII, sU0.
GOLD AND 6AEENnACSs.
Gold was l04sI101?s In yrecubacks.
Oternbacks wcro U5H GtD4E cents On tho Jo]far
In gold.