, 1877-03-06

s1nticatea tncrcsse- oil oshass decrease. 4 i
These aEnrcn prove what 10 demonstrated by in
dependent Statistics like tho8e OF trade and com.
mctco. tho reports Of failures. etc., that In 1BTO
much larger number at places came ashore from
the wreck Of tho panic than IN tho years before.
In 1876 thcrc WAS some gain In thirty one castes
os thcsc bonds or stocka. but In 1870 In only eight
In 1870 there was loss IN dfty-hye, whic In 1875
In only thirty-slx. Among Government bonds
there was genera, decline except In tha case OF
French 6 ros cents, United statcs % poi cents at
1875 and per cents funded, and The Venezuela
Hper cents. There ID no case among the railroad
securities Of aueh caamitoua break ~ In thta
country In Nav 1crscy Central, rht.adelpnIs b
Heading, and the Eastern but the decline il very
large, and affect" almost all tho roads. This table
Ia evidence that tho depression Of which this coun.
Try conplshs Il general throughout tho world, and
also that II e1lsts IN financial u well a. commer-
Cial circles.
THE BANK or ENGLAND AND TUE Fonnt0N
DISCOUNT MAnKET.
The London correspondent OF The F1no0csqs
Chron1fs "sitcs updor dato Of Feb, 10 that the
amount Of hutincsa the Bank Of England ID trans.
nc.lng with per cent rats Of discount IL small,
rs the open market Ia working II frpp, i to u;
per cent for short dated and three emonthas bills.
Tho Directors Of tho bank arc evidently Of opin.
lou, therefore. that wcrn thoy 10 augment thsls
terms. they would be do!u2 sstl less, and that thus
no advantage Mon|d daccsue, 1t has not yet BECOME
ply OF bullion. II Is true, indeed, that tho sun.
ply which. on tho e0th OF September last, was
rather more thab R3b, O00, 900. IL now. Ia1-
HI. 06o but that REDUCTION Of nearly G8, g3, 600
IL d matter Of small concern The former amount
was excessive, wllo present experience stows that
tho stock now hu1d 10 fully a4quate 10 our wspts!
TIC proportion of esecrss to liabilities II the bank
isntiil As the satisfactory point Of 40 per cont;
trade amt financial enterprise ara. VIC have pre-.
sioasly observed, At low sbl. and II may there.
fore. bc safely admitted thatt ths Directors Of tho
Hank nFc Judiciuus IN postpunsng cAanse, which.
tc sesiFd ~ necessary, 1t suiay further 10 Oh.
served that these are timer OF raplI Com,nuuica.
t!un, and that On previous occailons, whrn the
HtthdFa~sls VI .old creatud sone excitement, suc-
ces.!vt aaSanrcs In tho DAhk rata soon made lheEr
instatoca felt, AMI brought abous the deslred
chshsn. hh ,uld demand for gold asyta ari4s Oh
m extensive seae In ghe only market IN which II
can be psrchastd Immediately sRd IN, any large
quantity. md dl,nlr.sh rapidly 0nf xsstiAbls sup:
ply. thcfc IL ITO reason u DOUBT THAI the same
Aicaaurss which hays proved 10 20 50 pGeetull on
PREVIOUS oecasspM e!!l b. at:qptsa, ana with a
III indications Of any change 10 violent, but only
OF anal! rise. ssy Ut ii " psE cent, aud weeks
i'aJ csaIsc t:fosc aYen 80 suaau ~ alteration can
be regarded necessary.
MUAE ihouHAhuh LITIGATION,
A yslt s!Mtiar u that agsluSt tho North America
Ats been bS.lln ayatnse Tie Guardian Mutual by
unc of i,s policy .Aodsrh Tbs uulyerssl l4fv md
tie North Amcsisa arr aaIs co'pefs1d4nt4, Eop.s
ol the ehascra very senous. The complaint
alleges tAst tls sslAsuranrao " lbs N9ardlGu An.
Ssa! by tha Guiscs al lIfo WA jraiuscpt % ths
part VI tho Officers Of both companies. They ure
eeiarca tn hasr been guilty o{ htssehea af snel.l
trass III od"E - bring themselves persou4l p1uat.
Tue Complainant tayf that officers Of the Universal
"cso put In the ourl OF piEeclora of Tie Guardian.
sn'i that through Ibis eo!p ap thn polley Apldsrs
wcr. sw,ndlel, the GuasIlaa stripped of IL prop
crsr. outtsnalnr disks t.apsircd, and tho stock.
huldets ant policy .hoiden Of the rniyessai enjoy
tho vens.ts Of the quincy Invested IN the Guardian
10 the extent Of Il, b0o, 900. Tbs plaintl6 n.la
tat tss companita lslael b visited snd sxsna.
tnc5; that the Vn!rsre bs suspended, aud II found
guilty renoyedj that the cout.aeta OF teipsvrsnro