, 1877-07-03
Local Deposits Stationary and
Discounts Decreasing.
Tht rrsdu.s Markets Moderately Aetiyt~hogs
Wtsk-PgsYislons STEADY, bnt Easier.
Wheat strong---Corn Firmer...Littls
Change in Other HrsaaxtuffA
Stocks OF Produce, and Move
r1lent from the Seaboard.


Tho deeount business IL mol active, and more
than ono heavy capitalist Is Putting patteof his
money into the per cents In the'r desperation,
When no profit can b made out OF money bor's
rowcd at and per cent II ID evident how dnl
business and enterprise must be. II Che loan mar.
bet rcmans for nnothet year In tho condition Of
today, Investments Of floating capital In tho per
cents may provo rcnuncFattvo. But those pnr-
chasing them have to bot Bgatnst revival OF
the business Of tho country, agalnsf good
cropA mud against Tho tneecss of tho Russians.
II tho business interests OF tho country should
protpcr again. there wonld be demand for hvalh.
bio capital al rates much more femuncrntfve than
4 pcf cent. II tho crops shoutd be good, the 1onn
market would be likely TO tiRkcn, and negotiable
paper would again become 7 or 10 per cent no.
curl.y. Tho success Of tho Russians would almost
certainly extend tho war to other Nations and
the Temporary effect Of TINT upon this country
woald be equivalent to natural revival OF proa.
perity. Any Of these Causes would derrceiate &C.
eurit1ea generally, and only d fall Of . per cent
within year would be needed TO mako an Invest
men. In the per cduts losing one.
Rates o! iiscount At tho baaks wero 8G10 per
cent n regular customers; on tho street Tho usual
variations on bank rates arc made.
New York exchange wAs sold between banks at
OnGs7,c par 81. 900 premium. ,,
The e1earInes wcre 8l 100. 900.
GOLD, SILVER. AND FAMINE IL INDIA.
The Calcutta correspondent Of the London 1tn<s
telcgrhphs undur date Of june II:
III. o9y hsve ben d5svns se
81 the frc.idency Mini a. aaorilns tnro test Of
ths peopc. Tho published aeirEs arc certainly
fsar'ins. The value Of tlivcE ornaments tcnderc1
to fo and Ill il o @ oyep
md was in May over Es0, 900. ii is . well. known
rcnsnnt'e usuhl way Gf Investing his savings, and
that he cllnRs to these bauhics long possible
q petsy jcwsiIy onshs 10 sse %a. Clearly All ias.
cafes Vrrnt dt.trcfe among tho lower ordcfB, and Ia
@ in h at' r aS 3 o5.o,So e,ss.s
al.ntn tho gold ornaments offered for salc, nhnw-
inr that thc pressure Is beginning to affect tho
middle claste*.
NOT RAILROAD ORGAN.
The Indicator, Of Wall strcct, whatever II may
be- is certainly not railroad organ. In it, satue
day Is.nro It handles half uozcn tahdinQ roads In
tue most uug!oved rtyle. Tho Illinois Central Ia
declared 10 bc bankrupt T1io next dividend Is to
be small, forced and mere cover to enable tho
Directors to scamrcr ont Of their holdings ofstoek
The Chicago Il Alton Road Is -undcrstood" 10
nave tAksn advantage Of ths short interest
IN tho market to sell portion OF the
stock In it, Trcn.nry. The Indicator says that
the decrease in Its earnings has been 20 enormous
howevcr. that oven with ths hidItfp Of the sum
received from tho sale Of tho Etoek, It will bu In
pnpeble for It to pay a dividend In September, ex-
rrn. nv borruwinp mouey New York Ccntnl nc
,,. q. ~, ..,,,, nr,b,*,v nr.. Al, w. .t,o,,th
eo'"he ~ .s'1 sa"o o"Ns ~ -.
to perhttleat hul1tns. THIS Htatement agrees win
Tint male uy the Wall street correspondent Of the
t,oston Commercial UHf!sttn that on several occn-
efons lately nothing hns saved the stock from
severe break but tue vigorous purchased OF IT.
friends -..... .....
DRLAwAHs, 1AcRAWANHA WESTERN.
The vote Of tho nlrcctorH OF the Delaware, Lack
awnnna & Western !tnssFohd to tssue bonds to the
amount Of $40. 600, 000 on the main line, has pro-
tlucelhsume rcEplcxlty In the minds Of those In
terestcd. Conflicting rrpof's arc In circulation y
to the purpose Tor WHICH tlie money ont&lnea IA
III p,asss: sss:' ''' '''" '''~ ''" -