, 1877-05-28

In illc Important article Of cotton pirce goods
there has beou decline of nearly 8 por cent; our
imports OF british linon goods have beon only
5rnctlon less, but In tho manufacture Of uGe there
has been decrease In The british export to this
country Of nearly ono.fonrth Wosstetl atHffs show
greater loas still. being about third lcss.
Thcro arc largo iosscn likcwhc In carpets, woolcn
clotha, mnehlncrr. hardware, habeEdnscry. chrthon
and china waro, md ciothlng, and considerable In.
ereAae appean In our imports OF pig Iron, tin pnoA
silk broudstuffs md unwrought tin.
" NATioHAL HANK or COMMERCE.
St,n tork tsorid Kay n.
The special meeting at shareholders Of tho Nh
tonal IIank Of Commerce, hold nt noon to-day, Te-
suited In tho unanimous vote Of 10. ESQ atafe tout
oftho total 10O O0O tU rrduco the capital stock from
S10. 600, 600 10 S. 600. COO. The reduction will 10
effected by returning to tho Stockholders $50 cash
upon each share on nnd after tho 10th uf July.
TaIs decision. arrived at ouly after tho experience
Of several years In conlcndlng with heavy local
taxation, removes 4i 600, 600 Of banking capital
from the city at one blow. Tho money thus dis
period has for many years been at the sesvlco Of
legitimate hlslnoEs enterprises; II will now seek a
thousand channels Of permanent Investment, we
may say 1904 channels, ~ that IL the number Of
stuckhodun among whom 1t will bo distributed
Thu whoIo Of 1t may easily 30 90 invested as 10
yield no taxes to tho State Vt New York. Tho In
ctdent Ia instructive, taken a. comment on con.
Temporary legislation at Albany.
TIik FRACTIONAL CURRENCY OUTSTANDING.
It IL suggested that large pAft Of tho twcy..
ty odd millions Of fractional currency still cut
standing Is not al! lost, havo supposed. but
that gfcut deal Of II is still circulating In Tho
eUuth. Tho atlanta consttution rAys these
twanty-t two millions "nru In tue hands Of the peo.
rle of the Cation statcs, aud o noancF, diftlct,
faggcicr lot was never seen, Tho process Of cx.
cl,auge has coaaed, II ts tsuo, In Northern citss
tho supplies of Allsor lie Idle Ia tho vaults OF tho
eub-Treasnriea but In the South The movement has
not fairly commented" OF couue tho entiso
amount missing b. In circulation In tho South.
cruBtatcs. The very ANAL proportion Ictlrcl Of the
htat,' second, aud third issues which vera utalo
early In thu War shows that nlost OF thom must
have been destroyed. lat It u very likely that the
explanation made BY thu Consttlutlon will hold
good a. TO large share oi thu ST., ooo, 600 OUT
standing which tho Government had about made
up its mind were ao much added to the ngasea Of
ths reduction of tho dabt.
Tnn LONDON srtvxR MARKET.
The London Etonomtst Of May l2 says with TO-
gard to tho silver market:
% I'D @ h s ap; sS'st' y IL
.gti hsIs q tss !safasn apss
su.sias s.sss ss!es ~ " " @ @ sss value
n il as
~ u I
gold ffuH sud itgLsns the yA1uG OF moLey h1le-
REDUCTION o. INTRRE8T,
Thu sala Of ~ par cent bonds by tho Uulted
stalea At tho prices formerly obtained for e. and
sud then for 81 u ono OF the many aigns thnt
ehow the downward tendency OF interest, Mort
rsga noics ot tntcrest have been reduced tn Sun
Francisco aad Chicago, and In New York one Of
the largest savings banks, Tho Emi2rant Industrial
hax reduced III rates on bond and mortgage loauS
fruM 10 upcr ceut+
GOLD AND GARENNAQkS
Gold WIS lOBss q 100S in xreenbackA
Gteeubaexs'w were 04Iu3h eenta Oh tho dollar
In gold
GOVERNMENT BoSDA