, 1877-11-16
increase OF Discounts Caused by
Decrease OF Trade.
Failure of the Financial Strategy
Of the Bank Of England.
The Produce Markets steady-Hoga
6tronger-Provisions More Act
i've and Firmer,
Less Doing In DreadstufIs...A Good Ship
ping Demand for Wheat
and Corn.
FINANCIAL.

Tho slowncfs Of collections and trade in tho In
terror has added pefceptlhly 10 the demand from
city and country customers for accommodation.
Trade in all directions ts qntct, and teFe ~ little
Of no esll for funds with which 10 carry ont new
entcfptltcs OF enlarge those a1EeaIy established.
Rates Of discount were SO 10 per cent at the hanks
10 regular customers, and On The street cn1 loans
were per cent. and time loans 7Gs8 per ecut. Tho
orders fot New Fork exchange weFu larger from
the country. Large satca wcfo mads between
banks At zoe per 81. GOO premium. The clearings
were 81. 100, 600.
rNEsENT CONDITION Or THE CONTINENTAL LIFE.
The present Receiver Of the Continental L1fa is
John r. O'fcill. lie was appointed May 10 by
Judgo Ncstbrpok, and tho order Of the Court tlt.
rcctcd Tho Receiver 10 deposit tho asse!s Of tho
Company With tho United Ststcs TruBt Company
Of New York "wheno.er and ~ often as tl.cy
shall reach the sum Of 8lU, 000." Proceedings
have been taken to forccioso all mortgages on
which the interest has been paid regnlarly. and
which has been appraised at less than the face
amount Tho temala!ug mortgages. that pay
per cent regularly, hAys not been disturbed. There
has bcca collected, ns evidence OF claims, about
r. 600 policies OF the 20, COO In force at the time
the Company was frat placed ia the hands Of ) Ic.
ecIycF. Attorneys IN New York hold about &, GOO
Of these rotieics. No 1imtt hiss yet been h1ed
by the Court beyond which The Receiver might not
accept evidences OF Indebtedness from policy.
holders. Mr.. o'Neiil hopes that he will bc ablc to
declare good dividend within The next six
monshs.
FAILURE OF TUE BANK or ENGLAND TO At
TRACT GOLD.
The London 7iDs<s OF a recent date admits that
tho pank Of England has faslcd far In ts attempts
to rcnlcnish its gold reaorvcs. 1tssys:
Although no gold has bccu demanded fos export
fora fnEtnluhf. the hanks posiaiDn has not 4on-
ribly Improved ~ to enable tbs Directors 10 nban
tiona protective attitude. Ono Of the two mems:
TO strengthen the reserve has been e1hausted win.
out material effect 80 fas. The outside ssuD Of
r. to s change
thc higher rate only brought competition for En-
E!sf bills from market better supplied with
Although We hare done. something 10 iercl tho
Paris orcn market up to our yhlnc, wo hare not
nppreesah'y Affected tho movements Of bullion in
our favor.
TIE STOCK MARKEr.
Tho New Yorx Tribune how1a that on tho New
York Stock Exchange ''prices have been forced
up to points which were high. even II all thAt wins
Claimed In behalf OF tho sncks was admitted 10 be
trnc. It has all boon done by few bold and fash
spectators. without the aid or sympathy OF =
purchasing pnblr. For two months II has only
been question OF endurance. Few operators be-
Icyc In the stability of present prices, but thcra
yet remain somo who are willing to wager that tho
power at endurance is not exhausted 1t fs plain,
however. that tho principal specuIAtora throw
ing overheard some OF their ballast Ia order tho
longer 10 carry thcir special faso1tcs, Ctntrsl i
Hudson and Lake Shore"
BONANZA PRODUCT.
The product OF Consolidated Virginia for tho
three quarters ending Sept. 20 wcre 90, 14O tons,
wotth 50, A83.30o and Of California, LEI, 3G1
TONS worth $13, Ol7, eoO
G0t.p AND OREEynACKS.
Gold was 102Ft 1025t In grccnhacks.
Qfccnbacka wu3 0s9U7X cents on the dollar IN
ro1d.