, 1877-10-03
English Investors Encouraged to
Buy American Railroad
Securities.
Tho Produce Markets Very 1rregular-
Pork Excited for Ootober-Otber
Provisions Firm,
Hogs Wcnk...Whcat md Corn Active
and FIrm..-Darlcy Weak.
Stocks OF Grain in Chicago and
Elsewhere.
FINANCIAL.

FINANCIAL.
The si9ns Of IN improvement In the local dc.
mand for loan1 arc getting palmer. Tho offerings
of city paper arc larger than they hare been,
though not yet BY any means pressing. The nc.
aritJ Of trade to which WE have 70 often referred
has maintained Itself we'll that the assatancc Of
Tho capital Of the hanks Ia becoming necessary to
DIR merchants and manufacturers, who arc offer.
ing their erstomcrs paper for discount. The de-
mand from tho county for rcdlscounts has fallen
away slightly III tho last few days. The settle
mcnts usual on the LIST OF tho month had thelr
customary effect yesterday on the volume Of the
counter transactions OF the banks. nnl tho sttua-
ton on tho whole Was quiet for thu 1fss Of the
month.
Rates OF discount were ,sG10 per- cent At the
banks 10 regular cIssomcts. On tho etfccL call
loana, II frst-clats are neEot1ntcd at per cent,
nud time paper Of tho best quality at .G4l7 peF
cent
New York exchange was sold between baugs at
75cGlS1. o0 per 81, 600.
The clcadngs wcrc 81, 50O 600.
u1n FUTURE OF AMERICAN RAILROAD SECURE
TIES.
Tho London 79nks Of Sept. 10 prints a long
communication from a correspondent, evidently
well pox,cd, encouraging English investors to put
thclr money Into tho eccurlties OF American rail-
roads, lie believes TINT this country will bs tho
lender IN the now era Of prosperity and that con-
scqucnlly iudIcious purchases Of tho now DC.
prc-sed htocks OF honds will yield handsome
profits lie says that to 'eo low pr,co havo both
the SHARES npt1 lands Of even lilo leading fnlways
In the Suites been reduced under tho Influenza of
bad trade coal ranics, Strikes etc.. that most
excellent inEcRtmcnn In them may now ba
matle. but That this rich picking will
long hold out no ono need suppoec.
With the recovery Of confidence there, and now
L. IL. .1.f. IL .i.txt
wilt ba found that large proportion of The rail-
waypropertles which havs bccn thousht almost
worthless nre nbout to cn1cr npon a substantial
md rnuid1y. .inctcaalpg value. What opened nyc
or ak years ago a bad, non-paytng 1,nc, may
now begin to bc, aud 70 steadily On. good earn-
Ing ruad- Then In tho low-psiccd stIascs and
bonds ranking far from the fayoritca t,ny be fund
eafc, and rrrhaps even tho most lucrative. pur.
ehases. Ordinary discretion, little inquiry, ex-
animation Of maps, etuIy Of statistics Of popula.
tlon and production, course OF t1Ae, csc ali open
to tho careful INVESTOR will In these relatively low
accurticA, insure him good placement Of llo cap.
it'll. Again, there arc good many nnapished and
ovon unprotected Ines demanded by developed
territory, Increased population, and new indus
tries. Tint WILL 1t financed and constructed on
propcr principles, quickly takc rank among the
first class Of snch properties"
very sensibc suggestion closes the cpmmnnt.
cAtinn. II Is that English bankers bufore recon.
mcndine bonds or stocks Of u new road send out
commission OF experts 10 examine Tho whole
project. In this way the wildcat" schemes that
have proved 40 disastrous will BE- given no chance
to swtudle the public,
AN 1NcoRk1oipLa KMRp1vE.
The British dhaucIal public arc seaptal!zed md
startled by tho nowH that tho KhcdIve, who hal
promised not IL 10 10 any nlorc has run up Se2,.
Zoo, 0o0 Of new deht since ha arrangement with
lhc English bandho1ders for the settlement of Lis
hpN knf L.
debt addcdtu the "uulGcd Debt, +" for Tho llou!da.
lion oi which he has assigned special sources of
revenue. Tbs facts are that the Kbcdlyu
has from the h.art deceived his british
friends hout Ills receipts, expenditures, and dpan-
einl methods. They had tho lnless and beat erl.
hcnea before thcr c1cs that be was tho worst kind
al 4 burrower but with tho same fatuity lhat led
khem 10 pour hundreds Of millions into tho harem.
OF the Sultan they have supplied tho Khcdtye with
al he wanted. No people on earth aro 10 down.
rodden and plundttcd as tho Egyptians; no Gov.
eshment Is more brutal aud ptodtgal than that OF
The khedlve- Ordinary ecnac should have taught
The British that thcy were lending on tic poorest
pf security.
LOCAL STOCK QUOTATIONS.,
II ID announced that commencing Wednesday. ;.
Oct. 3, md continuing during The winter month.
tbe1e will be held each week on Wc,,ncs,Ysvs md
saturdays, at lO:aO q. nn., under tho nurn,res cs
The Provision, Grain, and Stock board a call for
Tho pu.puse o obtaiuing the correct ouototion, On
tho principal local stocks honda and otber nacur.
lies, bought aau sold ia Chicago,
uANk FINANCES In Nuw RINK.
In ana1yzlne tho statement of tho Nev v,r,
banks last week. the Buiisfin nv. th.. wh,,s m.
favorable II wus less 10 tban expcct.d n,rtcrIo,Iv
IN tho legsl.tender avcsa,c this wna rrdnccd Ie.s
than $780, OQ0 uotwithstandfn1 thnt r-.,t. f,,
times thai amount Of currency was .hInned To VII.
conAln during The week. Ths full Wcstsrn md
RsrshArp dem md fnr ru..n,,. -.
felt Iloth the 1epni.ten,,cr uof. anA ~. ...s.
averages arn falling, and the bank1 hoys mach ieua
OF either OF these classy VI munoy than thcv
appear to have. Not ilr fFon, 60 200. 600 uf poI
WAS Transferred frum tho banks 10 Tho Treasury
during the past week. mad yct the ayerayo boiling,
Of the banks fos six days show sudaetIuu OF oniv
s., a22, 400 The surplus seserrs now IL 81, 4a5.