, 1877-09-27
Moderate Demand for Discounts
--.Clearings, $4,000, 900.
Opernttons of tho Syntlfcatc---The
Four Per Gents.
The Produce Markets steadier..'Provls-
ions Quiet and Unchanged.
Grain Strengthened by ths Starmy Nta|h'T'"
Frtlghts slrang hul qnief.



fcn,,rc, nrc IN sou,e extent contradictory. IN !
unmetakahc rcrivnt of trade has ret In. willie Inc
demand for the usc Of ioanalc capital to bns tttc
better than al any corresponding time within INC
last two ycars. The banks haze Largo patt OF
their funds remaining lille In their hands. Inc
procrrrs Of sccnpcrat!ou II shown ny tnese
be gradual The retail trade Of tlt* city - lhtlr
any, better than It has hecn. The Improvement
TINT Ia. begun in the country has not yet hnd
time In Affect my but tho Wholesale m
tcrcsta Of tho city. In tho bpmt way mo
banking business has not yet rehumcd fA full nc
tvlty, necan-c tho renewal of prosperity has not
rot 70 far tnAt there s = demand for surplus cap
ital. XVIII take eont tlnlo Tor confidence 10 pes
rc.tatc and tho rnsaces oF the panic 10 made pood
,!,at new enterprises and cxten'fon1 Of old ones
will bc cxactng enough 10 Keep aEl our banking
cnrto In fnlI and profitable employment.
The supply OF paper srnm the country for fctliA-
count |. kept up, but othcFw'ee there !" not much
negotiable paper Offering. Hates 0t discount "cfo
Hfl 10 per cent at the banks to regular curtomefe
nnd on the etseet call loans were negotiated Sth
per cent, and arst.clsss time losns nt 0df7 per
cent ..-..--
Sc~ York exchange was fo1d between banks II
socGls co rcE 81, 0O0 dIfcount.
The clcarIncs were 81. 500, 600. -
now THE NAT1oHAL GOVERNMENT IS TAXED nr
T11R HAHks.
The new per cents haya not been taken by the
1nt,on requires the depotit Of more than $780,
COO, COO OF bondt, and If these, which arc mostly
pcr cents were replaced br per cents the Gov.
c.nmcnt would rave about 50, 375, 900 year.
This Uorti in Ets financial column. Describes this
a. taxation of tho Government BY tho banks, md
continues ~ show that "Tho amount Of Federal
taxation paid by tho National DanKs for year ena:
ing July l. 1870. Is stated by the Comptroller OF
the cur,eney on p. 61 OF bis last report, A. s7.-
..p, e:l.;N. Tho National Banks arc appll-
cantn for rcduction OF tho taxes I'm.
posed on them by Congress- and tho Comptroller
joins with them tp u1 In asking for the repest of
tho lax on bank deposits and Of The tWo-ccnt tax
by stamp on bank checks. Would 1t not be vel,
for the National Banks. now that the Government
has 4 per ccnt loan on the market, to take that
loan M ihc basta OF circulation, and Thus enable
the Govccnu,cLt to save 20, TAO. 0o0 Yenr In gold.
bcforc asking It 70 remit any paEt Of its bank re-
rcrvo OF 81, 2:.0, 900 year In curreneyt The
National Hanks csn sec, II they will consider tho
nnttrr that they yield mighty little net reserve 10
tho Government 10 long as they decline taking the
per cent bonds.
FisANcra IN boston,.
The noston Adrtrfise1, In reporting the condition
OF tho loan market OF that city for last week, re-
marks that the "wcck eloscs without Important
n,tcration In tho condition OF the money market,
which rcmaina steady and quite arm. Tho In,
pfoyemcnt in busfne*s. II not reflected 10 my con-
siderable Advance In rates. Is real aud Ii generally
recognized in ncarly all departments Of business.
This tends to Inspire more hopofnl fccisng, and
largely promote confidence In tho Immediate fu-
ture. which Of Itself Il hopeful sign. Aua nny be
expected soon to develop into Increased buslness
nctlvtty. The monetary movement At tho present
tune IL apparently icuithr and legitimate, being
based OF setual business requirements rather thar
On tpecuIatIsc ideas. Although this tends 10 1mlI
the yosune at the ,iemnnd 10 certain cxt4At. Il
las III eompcnsatons In tho greater sscsdInesa o
the market"
CLOSING ur AN lHsoLvRx7 SAYINGS BANK II
NEW yHRE.
Tho Trusteca Of the ihsolvcnt Long Itland SAY
tnEs Bank hkse made rropuxiti0n 10 thc deposit
oIs which will excite ths envy Ut tbs unfortunate
victims Of tho rawlings banks that hars broken Il
this sity II Ia - follows: The Trustecn to sctatr
nll the asres, banking building; 10 pay to deposit
or. w!.htug IL c!ore their atconnta 80 rer cent Ii
cash, one hall In thirty dava and tho Ecmalnln,
half In sixty days after tho acceptance Of ths
propostlnn; depositoes not In immediate need o
their money 10 bc paid In full, 81 per cent In si
months % per cent In twelve months, a2t per cen
IN eighteen months and a per gent ln twenty .fnu
months after The hceepfhnts OF thta proposition
this offer In IN condition that all legal proceeding
against tho bank bs discontinued. The Ttnstct
anticipate. In caAo thrr trr1ns are accepted, this
S.U0, 600 will bc drAvn out almost immsdlstely
This will still 1cayc available assets amounting
$3.50, 600, yielding an Income OF about $:30, 000
The consent Of the Attorney +Gcnera!, ~ wcllsa
Of tho dcpoaitorh, will have to bo oblatnet bsfor
tlr proposition ran b. CARRIED out.
The amount Of co!n held by the principal bank
in Europe, according TO tho 1ntcst returns, II a
follows, ~ compared with what thsy lad on han
y year before. Thu statements arc for AuKust G
each year. Calling tho pound q, and the dollar
francs, we hare the following chango Withln th
year: