, 1877-08-10
New York Exchange Weaker.s"
Clearings So, 700, 900.
The Produce Markets More Active
and ttcncrally Stronger.
Provisions, Wheat, and Corn Tnrn Up
ward--Hogs Dull.
New Grain Arriving More Freely
---Shipn1ents Active.
F1NANCIAL.

The cleArtngs show that The present tcnQcncy oI
busInces Among tic banks is 10 Erow tctr. Thcre
ia not much doing ahc llonrl Of Trade or AMONG
tho merchants, and negotiable paper Is not offered
In any liberal quantities. The banks eonttnue 10
rnr.uc tho policy they havc adopted OF diseounttng
mainly fur their cntiomeEe and limiting their
accommodations Ia necessary advances. .-.
Hatcs Of discount wcrc va 10 per cent At tho
banks tn regular customers. On call, loans nrc |
quoted at G per cent. |
Hew York exchange waa weaker, nnd sold be- |
tween lnnks at c:a4s5oc per 81, QUO discount.
The e1earngs were s., 700. 600. 1
THE cuAnrgn' OAK.
The available finds of The Charter Oak to meet !
death ant1 tnanrcd endowment claims arc SAID bra
Hartford dispatch to The Now York SIM to hnso
given ont. The 5000 600 borrowed from t1c 4Etna
ltfc fs all gone, and the current premium receipts
fali fnr shori Of what Il needed to cover Q}aine
snd Interest now falling due, Th{!sHn Eivcs cur.
scncy 10 rcpdrt lint Jewell, in his n'ar1n, has
summoned tho old managers, Wigrtn, Dillon. and
While, to a consnltAtion. All the negotiable &c.
curttics Of the Company arc n'tcahy hypotccatcd,
II. building l. mortgaged. and all Il hns 10 pledge
for loan fR tA budget Of mortgages, which In
these times Of uncertain values would nat be eager
" accrptel as collateral. Tho correspondent Of
the .SHa ndds:
One Of The best known anil sbtcst busincts men
In Hartford. who has an excellent reputation ~!
over thu country. said ihis af.cInoon that Jewell
ny The position he hIs, ar hc woud utterly lail to
maintain hin,eclf successfully In It, II Is only
par. lnto the hnnlt VI Receiver, mil soma ar.
tanscment se made BY reinsurance or otherwise fo
ssnte tl,e po,le, :ioders liz added t,'st a. =; Sswe
lurancr men Of Hartford, heeaunc they were shtls.
led that no Ind personal motives In obtalnins con"
troll Of the Company.
In estimating tue ya,ue Of all this Information, It
mupl be remembered that Il comes from tho San.
wlcl! il managed tho principle Of giving all tho
ocws that can be- discovered inrcntcd IL support
The tlcorcs or preJudlccs OF ita editor.
WATERING HAlLnoAp STOCK.
The stock uf the Pennsylvania railroad has been
wstcrrd three t!snet. In May, 1H0i, stock divt.
dend Of 30 per rent was made; IN May. 1H87, one
OF 5pcr cent; an,l In Nay, 1RBs. ane more Of &
per cent The cn.t, dividends Of tho Company. IN
addition TO tie abovo, have avcraAed per cent
s,nce 1H:a,sS. The Philadelphia L<fqsr quotes the
lnw 10 remind tho Dirccturt Of thr penalty they
have incurred II any Ut the dividends declared
harc not bccn earned. Tho tenth section Of the
charter expressly declarea:
4 dividend s''nll In no casc exceed Tho Amnnnt Of
t1c net ,ruats nrtua1iy acquired BY lhe Company.
70 that thc capital stock thall never bs impaired
thrchy and 4 thr .Ald 1'ircc.ors shn!i make nny
tiistlrni4 which shall lmplIr The capital stuck of
the tou,pany the lliIcctos* contcntins thereto
~1a'l ~ labic, IN their Individual capncitic.. to
20 divic,,, recoverable Iy nciion in drht, A. Il,
other ra.rI: AHd each DlrecUr l,rcscnt when Anch
dividend shall b. declared shall ,o considered ~
protest IN Tho minutes q w hosr',, a!lt! eiyca
(hlhfc l.i:re 10 tho stockholders 0f tho declaring
Of such li.H,rnf.
rl;ASrEs or NEW roRK clTr.
Colnptrollcr Fe!ly. of New York, cxpaIus that
tic statements radr of The Iucrcaso of the dubt Ut
that city lL,,c been mistaken. The nppascnt in-
:rv,1e Of 81 1DS7. MO. ~ In The b&nurd debt In
tsyrn n.oi.tl. must Le diminished by the de1uc-
zion Of ST. l' l::l. III a!lcd tn The Sinking Fund.