, 1877-06-14
FINANCE AND TRADE.
Scanty Supply Of Good Negotia-
bic Paper~..cfearings,
$4,000, 900.
The Produce Markets Aotive and lrreg-
ulnr-P1ovisions Weak, and
Then Stronger.
iYhsat and Corn Firmer.-.0als Stead5~.Flour IN
Good D.nana.~Rsys Asa'J.



FINANCIAL.
Tho accuuu!attaR tcsoutces Of the banks and |
tho ecanty snpply Of good paper from frguias Gus
TONERS OF outside borrowers continue 10 bo tho
unrhsnRfng features Of local finances. Rates Of
discount 8dsl0 per cont at the bankh to regular
customers, anl on tho strcat tho usual variations
on bank rates nre made,
New York aTcEAnCe wAs scarce. and sold be'
tween banks ut ho557oc per 81, 900 premium.
Tho ecnr!nes wote s., 600. 600.
ABUSES or CORPORATE ENLARGEMENT.
The milling Of tho ores of the Justtee Mins n q
good specimen Of how corporation Gun 10 run 70
TINT everybody concerned will make money except
tho stoekhoders Tho mtns will now yield
ubout 10 to 10O tons a day Of moderator
~ good ore, bnt tho management by
mixing good rock With bad tnsn out ahont
400 tons day in order 10 give employment to the
mills. As the charge for milling Is mhdc by the
ton1ute independent Of the yield Of bnllton II 10
evident that this practice, while Awcllln2 l1e profits
of tho mill owners, leaves nothing fes the stock
holders. Another case 0! tho sane kind was tint
OF tho Dclchsr. whcro tho milling of Ito, 600 tons
OF rock TINT yielded over a3 last year bronEht
the mino out S100, COO In debt. This csnwn Point
Mime, according to the fan Francisco Chronicle
las boon milling worthless orcs merely to keep
tho mills ot Senator Jones occnp.ed rs oscs
were shipped long distance by rail, and mic1 In
Senator Jones mills at a cost Of SIC ton. when
they could havo been ultiied in the mine, IN the
mil belonging to tho company at an expense Of
81 a ton. ....
CONDITION OF AFFAIRS ON tina LoxDos STOCK
EXCHANGE.
In London, as in Nav York. tho Stock Exchange
nowaslays ts only "spoculator's MARKET" Out.
stdcrs absolutely refuse 10 take 11nnt1 In tho
cnt1ctng games played either IN Lombard
street or Wall street. The fortaishl1y settle"
fncnts made on thc 2s1th ull. on tho London
stocI Exchange werc, the London 7q'fs rtnosss,
p.c.cnincntly spccnlatort' settlements. 10 far
a. tic bona llc operations Of tic Investing pnb'
lie ,7crc concerned, tho account was nero haKa.
tetlc. The operations In the London aock mar
kct since tho bcgan haro been ltttic ctse than
bets IN The eprcad Of tho conflict. The rich,
powerful operators have been rrcying OH tho weak
and inexperienced Tho bears, who made enur-
nous pronts on lilo decline that followed tho aEst
announcement Df hostttttfef, havu finco lost AZ
much by tho failusc Of tho market to eirc way rt
further Tho enormous proportions OF atack spec.
ulntiou are shown by tho faet that tho dealings III
Hussian bonda were many times grcateF thnn tho
wAole amount Of the loan. just "a In Chicago tic
cnttre wheat c.op or tho country IL Rn1l 0rcr and
over many tncs in thu course Of a seaeun.
FINANCIAL STRATEGY or THE TURKS.
Tic Turks nte known to bu anxious to obtain
another loan from the English Thu chances al
Bnctcst, blim IN my event. weto renacfcd very
dubious by The neglect OF the Turkish Ambassador
in London to pay ovor to Tho English holders Of
past duo coupons q largo sum of, money deposited
3y tbp Khcdlyu In lhc Bank Of England for their
tnYmcnt. Tho Constantanople correspondent Of
tho London Ifules siyna tho particulars OF IN 1t.
rauecment made by tho Porto for tho payment Of
these coupons. Tho Engllsh bondhotlers had an
agcnt At Conaanttnople TO press their claim, and
bis success greatly helped BY tho hopes Of tho
Turkish Government thnt by paying some.
thing they could encourage lhc credn1nns nrt-
ish to loan them aon1a moro money. Tho Pnrte
has promifcd to 1c1caso Immediately the nnncy
now In tho Hank Of England, dispensing hence.
forth with tho Ambassador signature for payment.
md thus absolutely asslxning tho trIbuo from tho
Khcdlre for thche lonas, as originally intended.
!: rrtE ~ PER CENTS AVID RESUMPTION.
Ono of tho details OF tho contract just made by
Eecrctary Sherman with tho Syndicate hat, In
taking tho per cOnta, they shUatd giso lip THUR
right to call for the last 500. 600 900 Of tho $500,
; o00 coo Of AS per cents. covered ty thctr optlon
expiring on tho 10th Inst. Tho Syndicate wcro
compelled 10 acccdo to this stipulation, md Sec.
rotary Bhorman, therefore, has at hia dlposa1. In
dependent Of tho Syndicate $l0o. 000 600 af ~ per
;, ccnt.. which he Il fatty authorized 10 tell. No
i onlcial or authoritative statement has been lnade
OF his Intentions With regard 10 thcm but It II be-
!, ltcycd by somo that he will these bonds undor
! the tos Of tho 1seaulaptton net to bring about tho
fesamnsion At specic payments. II thla bo coftcct
| tie will sell them outright from time to timo fol
4 Euld 10 10 IN Its turn sold for legal tenders, which
Will be PUT out Of tho way In whatever motlc thu
1 Secretary thinks consistent Will, eztat!ng lawy.
Z TIE GOLD STANDARD IN FINLAND.
! Finland Will probably folluw Sweden, Denmark,
and Norway In demonctizin9 silver In imitation 0
: tho policy OF Germany. 4 draft Of law for thai
j object las been prepared by tho Government and
+ submitted 10 ths Legislature. which will doubt
L pass Il. The currency at tho Country las hitherto
hccn rlfvrr bnt tho proposed aaw will make gold
Hb
thr rantva1ent Of tho French gold franc the futu1,
stsndarL. llrpIun!ny with Jan. ], 1879. all Gov.
crnmcut accounts to bc kept In gold marks. ant
p contracts payable In sitycr 10 bc paid in guIi
! nt luo rate 10 silver Of | to 1h&..
4 rArEn MONEY IN CHEAT BRITAIN.
! Tho hank Of England had In circulation las
I month s14l OIL, ,a10 In bank .notes; tho Engls,
Il private banks. sle. aHo. R:6s tho English join
: etuck tanks, S11. Eat, Ei0; tbs Scotch banks
I $40, ,73o; and tho Irish banks. 3J7 600, $40
f tho whole making an aggregate Of s.3t,
H Bl4. 00s Of rcdccmnhfo paper money In cir
i enlatlon In Great Britain May l:+ the aato Of TIL
! latent returns. Tie stock Of bullion held BY H.
Bank Of Englsnd wu. sl:7. LAC, I>o; by tho scotcl
i banks ST., 447.77o; mud BY tho Irish banks, slb
8 7Bi,015.
{ PAYABLE IN s11vsn On GOLD.
y The per cent United States bonds which Secte
q tary Sherman has lust made arrangements to put
= the market payable In salyer Or gold. 1lks III
ii as per cepfs llef tssue u uhdes Inc aQtlot1ty
! the Funding act Of 1870 and they arc payable |
=, United States coEns, a. then established by Il,
Z law. Tho Decentralization act Of Feb, IL. 1S71
ha,! not then been passed, and tho svcr dollar wa
: lesal.tcn1cr equally with the gold dollsk
t. GOLD AND ouEESNAcKs,s
=; ,tt'Jwas 10t>a01034s In greenbacks,
~ E:sratscks were u5h 103}s cents on tho dollar
i ,1a.-
\ FoAEf0A EXCHANGE, ..
I ,..r si1'y ,dap. stgs
4]kN 4N
II fsaTtr .315& oil
. ..sa. !.