, 1877-09-26
Ths Telegraph Stoeks...Cenditson Of
italian Finances.
The Produce Markets Less Aotive-Hogs
and Pork Easier-Eeats Steady.
Wheat, Corn, and Barley weak..-Flour
Du1l-.-0Ats Active.
Stocks OF Grain Hero and Else
where,



and Is maintained mnfnly b5 the country banks,
1hcsaafs fttll forwarding considerable Amounts Of
paper for rcdtscount The funds asked for ass
needed 70 help market the crops ~ wcll - to ho]p
those who wish 70 hold them back. Tbs cotnmet.
ctAl activity Ii be secn every side In the city
docs not bring mnch negotiable paper to The banks,
and tlleec Institutions complain Of lack Of en-.
ployment for their funls
Rates of discount wcrc 8010 per cent 1t the banks
10 regular customers: on ahe street, call oane hro
negotiated at per cent on the beat security, and
frs'-clA.r tina loans at Gs17 pei cent.
Tho ordcsa for currency wers again moderate.
Now York exchange waA sold baeWecn banks A. soc
@St. 90 pcr 81, 900 discount.
The elearingn wers 81, 900. 900.
rnH TBLHdRAPu sTocKs.
In The atoek market on Saturday, Western Union
Il raid by the financial editor Of the Itrdtd 10 have
remained "weak tbs dar through and finished with
loss Of per cent upon tho highest price. There
is some evidence that the parties who weft prtvy
10 tho arrangement with tbs Atlantic d Pacific
Company bhve been Slipping their stock quietly
upon the market whsls they were publicly detcant-
Ing upon The great value OF tic property and tho
prospe.ous future which was IN store fof II. In This
sad vsclsetudc Of things there was nothing fcfL
for The smsl operators but 10 cure tho elastic con-
sciences Of tlt!r leadets which had permitted the
deception, and TO ee1l Also"
ITALIAN FINANCE.
The AnHsarle FtnaA:idrio for 1877 shows that
tho Interest Tho pnbllc debt Of italy In 1870
than sgt. ZOO, 0O0 Although coin u entirely
out Of circulation, 81. Goo GOO Ia gold and silver
were coined last Jcar. Thu Imports were 4csJj,-
6os. Co., and the exports $ot3. 31O, GOO In 1870.
The avesagc Premium gold last year was ~ per
cent Pos. Uflco RAyings. banks arc rapidly ac-
qutr!ng Importance. chiety owing 10 the extreme
d'cu1ttcs put In the ray Of deposltofs At the Gov
ernmeus savings hanks. They have only been
opened IN the last yeat Or two; on Jah. /. 1870,
there WIRE but GOT. and IN Jan. !. 1877, that
ber had increased to !. .1s2, with depoa!b malo
during the yrar ty 1e 24B Jcpostors, Of tbs va,ue
ora, 700, 0o0f: Of this aum nbont ono.th!fd was
Withdrawn. There still remain !, ora Foet. Offices
not yet authorized TO receive deposits; a. might be
expected, the Northern rsovincea aro those TINT
abya most, Piedmont and L!gurla representing
quite half Of ths total lodged.
HOW r11Ef no II IN NEW YORK.
The revelations Of tho 'Ftccking Of The Clasmont
Savings Bank Of New York, which was in min!n.
turo repetition Of Tho cutting Of tho State Enr-
'ncs. have excited great indignation in Now York,
and. wliat IL better. determination 10 bring tho
guilty officers 10 Justice. A parry Of Tho Trustees
have employed counsel aud suoeccded in arre4ting
the President, Sherman Uroalwetl, who has been
held in st0 600 bail for trial. 11leso Trustees arc
resolved to n,nko up for hclr unfortunate lack Of
precautionary vigilance bY the promptest ana moat
energetic measures to push Tho claims Of dsposltors
III ~ bllHE ~ JuHtlV bNG
ble for tho bad management, and to secure tho te.
turn o! tho absttactca funds. Tho President has
always hitherto borne good reputation, but tho
evldencs shows that hs has been robblng tho bank
for many Yeara
CONDITION or nUsIHRss,
Tho encouraging reports thai Wa hare been able
to give for several ~cGks Of tho condition OF tralo
In Chicago aso Identical In tone with those to bo
found IN the journals OF uycrr commercial centre
In tho country. Tho streets OF Nrw York ara
blocked by tho accumulation Of root!s 10 bo moved
through that most Incommod,ous city. business at
st. ra1l Ia described ~ "vsry heavy" Al Louis
villa Is HSnshiug." st. Louis ID sbsehIyc. "
rnuhutu finds IL trAds IN q better condition shsu
for years. Tho Montreal, Eoatoh, rhfladelphja.
Cleveland, Cincinnati, and Southern 4ud Bouth-
western napers nlt give the bamc report, varied
only in Words.
Tho Ra4lroad Gdsstts remarks that tbs cotton
erup, Notwithstanding lta magnitude, Il q small
element In tho freight business cumparrd with cora
or wheat. Ii il calculated that Tho cotton crop Of
1870 would make Abont lu5. 600 eag.toada hut
only about one eRhsa of u II carried North by ra
The Mlleagcs are long. but tho rates mast always
b. guvesned By this rates by sea, from which tie
cotton belt IL ho~herc moru than 100 mtlc4 dis.
tAnt. Indirectly. however, the magnitude Of tho
crop Ia OF tho rst Importance 10 thu Southern ra-
roads. a. tnsuring gcnesal prosperity and heavy
HuVc3htuN u MSIEuAHul8es new tflfan1 still
exports 40 pof cent OF tho total export. ChAtiestop
II per cent, New York ~. Doston ~. Memphis
sths larzeattnteros cotton market, IT, Louis paxt
INeuNANCE.
In the letter OF our New YORK correspondent On
tho business and condition Of The nro Insurance
conranIcs-forclgn a. we'll a. homo-it was stated
in the thhlo Of gutcs that tho surplus fun and 70.
ee!pts Of tno Liverpool i London l. uIobe had
ahrunk somewhat with all TIC resi- on account Of
reductions In the Of insnrancs and decline In
the rates Tne Chicago agent OF that great Com
pany has 3ust received tho SEMI. annual statement
Of bis Company from New York, aud furnishes a.
the following figures Of comparative receipts and
surplus:
In thla table our surplas IL represented - up-
wasta at 44uu, COO less IL lusI hau III the rrsvt-
ous January, willie Lbs facts 40 - folioNg,
IL t52. OH a. ep7 AQ4
,A37tp LHl6 p08
surplus. ,att, ,6da g. e.o os4
fhia shows ~ Increase Of surplus Of 3aa, Bib,
tn1ten1 Of DECREASE.
NEED or CAPITAL.
Tho Board of Managers Of The New York Prod.
ues Exchange sent " the uanksrs' As4oelstioo 4
lcttsr Oh finance which Wa mot alluded 10 du rtu1