, 1877-06-08
FINANCE AND TRADE.
The Loan Market Quiat--.countel
Transactions Dull.
The Prodnce Market Less Aotiya-Pro-
visions Weak In the Afternoon--
Hogs Easier.
ereadstud, fifmsr, with Light Receipts, and a
Hsderats Shipping Demand.
FINANCIAL.

Al tho banks tho day passed away with the sanaa
dn!et and lack Of excitement that have become 4
matter OF couEso In financial circles, According to
Ill appearance, the midsummer period Of tnactisl.
" has faifiy begun, somewhat In advance Of the
nsun1 time. The dieeouns lines Of the banks Ate
gradually declining. Litte paper Ia offered By tho
regular cuntomcfs Of our 1oaninR Institutions, AMI
"outaldc" operators are borrowing very
little, on stcount Of tho uncertainty that still
seems to them 10 hang about thu future. ~
Rates Of discount arc s110 per cent at the banks
10 rcgu,nr customcs On tho street the u1ual varta
tions on bank rates arc made
New York exchange was sold between banks ut
dol76c per 81, 600 premium.
The cltaslnga wefe -, zoo, o00.
BONANZA KxAaaRRATroE.
Tho valne ot every BONANZA Saas has eyes been
discovered has been exaggerated. declares tho Ban
Francteco Butlttln. The btstorY OF the Crown
Polnt 10 N Illustration Of this. In MaJ 1872, the
market value OF tho mine was 3e2 800. 600. From
that date I'LL jan e0t 1876, It paid dividends to
tho amount of 81. 7Yo. 600, and At that time !ts
market value had fallen 10 -, 600 600. The mlns
Was orcfrated at the former date more than one
third Tho Conso'idatcd Virginia Alnc has bcau
oycrsated st!ll more. 1nJauuary, 1876, ia valud
rose, undcr tho stimulus OF tho pro.
posAl to increase tho number OF shares from
10s. 900 70 64o, 600 to 81. go. 600. It patd In
dividends from that dAta to May IL. 1877, $25,
4s8 900, and then its market va1ue was 312 8D0,
000. Tho total 438, l1R, O0O, II taken to repre-
sent the actual valuc OF the mine, proves that the
mlne was oyosratcd By $50. 04o, COO. or more than
30 per cent, Ia January, 1875, This ca1culbtlonf
which Ia made by the Hul!esia, " not indisputa-
bic, bceauso the present value Of the nbe mar b.,
finder panickr influences, considerably under
rated. Tint ths IL 20 Mr. Fl4od asserted atrenn-
oussy In 4 recent intcEvicw, and ho added that he
had shown hts faith by continual purchases during
the decline.
THE 1NDoRsENKHT or CHECK.
To tas Editor af TAs Tribune.
Aonn1a, june "a conntsy aubscrtbcr would b
glad TO have tho following question answered, a.
gives hid check to u for satn Of money, payabo
Y order: Htakes the check q the esnk wiess ~
The banker requires him TO lndofsc the check.
Now. u this inuosonent simply 10 show that tho
raht party received the money. osts II for thu pur.
keep h1a obligations with tho banki OF, il A
should fall 10 meet his obligations with the bank,
sea!a tie later make rs'una tAs amount q tho
Axsw1n: The holder OF check payable 10 or.
der IL required to indorse It before payment 40 nm
identlhcaton Of himself aud receipt for The mon.
~. 8uch m tudorsement IL entirely different In
this caee stAtcl by our correspondent from tho in
dotsement Of negotiable note. and renders tho
indoraer In no way liabls to any Of tho obligations
to tbs bank Of tho dsawes Of the check.
TIE CANCELLATION OF LE0AL-TENpkRs.
The Warrington correspondent Of tho Journal
9f Commerce ielcgtaphs that he IL ablo to state
positively that 81. 600, 600 in lcgs1-tcnders have
been permanently ''retftcd, cancelled. and de-
stroyed by Secretary Sherman, acting under tho
law Of Jan. II, 1870 The proceeds Of Tho sala
Of gold last week furnished tho legal.ta1ders.
This posttsrs statement may b taken ~ = con-
elusive indication Of the eouEse Secretary shes-
1nan tneans 10 follow.
sAN FAANc1sco COINAGE.
Tho coinage at tho San Fsanclsco Hint for May
waA ~ 45l. 900 in svcF and ~, ea0, 600 In gold.
Ths product Of trade dollars, 81, 100 co., was the
largest monthly oui.turn yet made. Tho colnaga
of tuhsidtary silver has been reduced in consc.
quence Of tho difficulty Of getting Il into clrcula-
tion.
NEW YonK WITHDRAWAL or BARKING cArl.
TAI.
wo pubshed yesterday statsmcnt in detail Of
the Withdrawals Of banking capita, In New York.
amounting altosstlot to $la. roo, 900 In the paas
twelve ronths, 1t IL now estimated that al addi-
tlonai aggregate Of 3a5, Goo 600 will be withdrawn
in consequence Of tho failure OF tho Albany Legs-
laturn to pass measures Of relief,
MAT DIVIDENDS IN a&N FRANCISCO.
The total amount Of dividends paid In May In Ban
FrancIseo wax e2. 040. ITO. Tho Consolidated Wiz.
ctnla paid it, frss dividend since December ast,
and tho Eurrkn tho afst since December, 1a71.
The Dividends paid In Mny. 1s70. wore g., b8s, oe0
WESTERN UNION.
Ek,r FORK Timer.
TAs bears ara making vigorous efforts to depfcAs
Western Cnson, AL to.dnJ set aAoAt stariez TINT
tic earnings Of fthc Company for tho past mont h
thow y conHl1csablc decEease. The stock. howcy-
r. oHcrs steady resistance 10 tho aa1anlts upon
l. and, Judging from the trmnc4s with which It IL
scld thees good grounds sus assuring that tbs
predictions Of tho hcaTs, that the next dividend
will bo Iufsed, are not destined to bo FrsliEed.
GOLD AND 0aEENn4cKs
Gold was lO5Gb1O5i In Ereenbacks.
Groenbacks wate D6t@pt4 conta on thn dollar