, 1877-06-15
FINANCE AND TRADE.
DiscountLines Tending Downward
...clearings, SO, ,ooo, 900.
The Produce Markets Rather Less Active,
and Generally Lower.
Lard gteadler---VVlent md Corn
Tend DOwnwartls.
FINANCfAU4

Tend Downwartls.
FINANCIAL.
Dtseount lines sill Tend downwatdt a. tfic oEef.
inev Of new paper arc not eqpal 10 that n1atnttns
Tho tesytas essto.uete Of tho banks arc never In
thr hablt Of applying for extensive aceomnfoda'
lions In th}a intermediate season. and thcF needs
arc cts, II anything, than usual. ontatde opeTat-
thu bnnks few Of those opportunities tor thu prof
ttabla employment Of their funds that are 80 !tc'
ancnt In bettet AEnes.
Rates OF discount sse 1910 per cent at the banks
10 regular customers. On ahe btrett tao usual vs.
sisttopa on bank rates arc made.
New York exchange was sold between banks Il
606t75c per 81, eco premium.
The ctcartnRa were 50, 600. oo0.
THE AnKArs1s MoNtClPAL RAILROAD BOND
DECISION.
Dy . decision OF The Supreme Court Of Afhhntns,
on saturday last municipal bonds issued in that
state In aid Of railroads hare been nalo void to
thc amount Of 81. 900, 900. Tic cass originated In
tho Pulaski Circuit Court in which the act Under
which tho bonds wero !ssned wAs decided to ho
unconstitutona]. and tho sup.emo Court has
affirmed this decision. AL thn bonds issued under
Tho act aru consequently Illegal The bffr Of
Little Noek grcs . hsict Ecsnmo Of tho grounds
Of tho decision: t'tn tho State Supreme Court
thaa t.a;aea! ,. .,! dsttaoS rrdao wsikcr dc,fs.
so., anA .,,tafo, III ,,rs1,r,,r tbst .hc inv unlcr
etsu 80. "' ~ S e,i,ro,I MI bonds wrrn Issued
,.ns unconstitutional and vold. Two OF tho chief
grounds on which tho opinion rcsted arc that tho
law was passed thrnngh the Ltgslhtnro In VIOLA
.oa ~, ,',. .ho,S =, +..a ,hrcs tImc, m threc
tpNe ~. ~. ' .,n.. . .n.,.,.tn, ~ i'm rn1.. .v,i
cTccted Tho records Of The General Assembly do
not ehow TINT Tho rules wese suspended In clthor
NV s'" .,.aa,e. ~ mi .ys. resr IN ~, scrats
noatc' "1eu'os. ,' ~. =. ~ ro.~u- unu,a w..
tw'co IA o1u o.., eIa N. AL 1ho n,;s+ ohtceton ~
.sa ~ ~ ~, ~, soto ~ IN. uen,,c nnthorl,fnu
.sN's0 " ~ .ssS tssts I'D hnor ,.tc1 i,cfnro ~
"u ~, .,,r NV an,rnt of tsnnhs yo,dcA
~ ~. %"o.tor i. ,,rr, four n,ion oiara. and
ny ,.s ,.n, ,rn,,,t ~ MRS th,n ~
,mIN. Win ..,."s.n., :,
n''"'es "tsssas' .x,., a. c,,,,-r,,,
''LL' " "nno ~, 30 ', ,"'',.
Tho 1uebt,oa vae'ncs e'l laus Gu w ICY rS.a
as eo'lateta' los 'oAu ,,', w. .,T",,..,s
iorn'a anu n"s "es sssnos, Nv
various eoa.s, WI . cnaS ~ .s uta.o ~ W. NV.
pc'oro lhe supreme s.s ..'o ,.S
hesso' I'M sa.' va" s ~''e ,sa ssa
e"n*'ea "aenr ~ n.,e' s,,a ,n,,oS H. ,tor1
taleu' aEns'' ,1s.a .,e,.snS .,at1s.. ~, ~
eans so'ei'' san. y. ,,s,s, ~, ,hn ,.in,t rhe
netnat - " w. ~. ~, ,atr-,.f..,,
tss"efs, "s u.,s In ,ns .het. ,,ho"t t.xo mai
.aa Mo.s."' NV, ~ Mo... tSn ,rorcrtv m
W ,s'"''. ..eas ri. ,ow.. .orrt. hox.
Th'eh w. sH,asSsu ~. 49, nS ~ ~ ~ un,tor,s
aoeaca n 1asos ~ as nh ~ NV ~.
eoars ~ sAs. " s' ~ "t,., ~ as,t., !. n H.
fFateu rsm,~.,," =. ,"t ~. n,1. a,,,. ~
fett's" ata 49,. - h,,,. ~ .J1nr,.. r,atv
WHICH 1e"'. .'"s, - ~ Toe.t'n. r. mi, nny
easusss. a..u.ans :" Wv M, ~ Isht,o n, ons
o'le wau !, an", ~, Al. H.. ccn,.;..
sse " IT,. ~ .,.,-,a, rss..t.. rts,o /. .,,ch rcs
oc1"'en t'c "sss'." .st.,.a Xii. -, i"Jta.
son IN .ns n.sans"s com.s. .t'n,,'"
nrEn,a"e ."''. - ~. r.,,t.r,I, re-r... fa M,
ta.a '"u .'a'' '.o'.I, VI l., ,rnnns.,,r. ~ ,hcm
eae'' ne' .t,,,. ,-n.t,.. ~ f,rv,r,,sno
10 eoRt'hto "su rI '"1... !, NJ ~ ",s,',.,
gram M" t"s" ",sH ~ sa..acas ,,no, rnr..sa,1
w "u'o ." 80 1n,t ,ha, M .,,s,.,,, ~
ptol".v ."' .,". ~" .,..,t ~" rnn.,on.a ~.
talns W. . a' rst. is n.'t n,st,"r ~ .,mms
Nitposeu " t..'l'. r. " ,". =, ~. st.sa. .'.
. and Iuaeaio upo his po
Thc lnee,o,ta involved anu thur wflp reach, eiyu
nv, h,,;s or lctlylaton t,y Congress uutler il
constitutional power to ofegalato commerce. octwcuh
tic States In England. tho naftef ha' bccn fssu'
"s'-3 - $ s,nnv,T. ~ rru zrxn,c.rn
tnoe oF tnn 49,, T.,
The Syndicate viii, BY The sott Inst. DO 500. ooo
mn TI,cir con,n,ission Is ono half OF per cent
md md taey my nil oxl,onsr.. thcss not av.
orngIns over one.elahtl. of par cent Th'lr
compensation j. thus thfee'esheh Of J
ucf cent. or X7tNb DDu. InS1f ptnNL4 fuuCI
tra,.s ~, t,,oi, u,c7, compensation. Tho synii
a,s ,.rin ,.o,I ,or H. az mr. rents nnti Inv,
received nvcraec Of IL pct cent premium, OF
profit OF So 900, goo. But In addition to this mus
r. ,1.r.,, H.. onnn rtnuttjeu thor hnyn hnt, 10
s o ,,1eS .an .oit ~ ,s,. ,rh.,.
Manipulating 'n' ooa ".a ".,H. h,u -. -,
another way In which It ~ alleged thst tbs Syndl
entr have tpc,caxcd their gans. Thny have sccut
~, i,nu11r lntcrrat. intorcat running ninety tay
~. IT,. .nu.S 1.av,s w,,ch 4hcv lave dcoo.(tad
s,,i ,rtc,rr, m t,a naw bombs runufpr fron, th
t.,, ~ thc,, t,su,, which they bavo tecn nbas Il
,,,c rrn,, tho treasury ,mu,cd lately on rcprcseu
,',,n that IN, bou,ls we,o sold, or that ptou,u
nn..ct.ion wou'd facilitate tboe es1c. in tht
woy Il /, oL,Ioun Tint double Interest rouId b
,"c,,,, tnr rho tIro fhat The ,ntcrcst waa runn[u
m thr ealted bonds TINT wcfv deposited,
rasru .t,,,rorY vIrwt ~ r!ls NEW ,xvxs4
MEsT,
Stm Iart tnYrnai n Ganmers.
In tho ora nf d;msn!shya hso'1ea 3,, on Mnlea
haSo enG,sM ~ ssc H. cnis ~ t,s ,.s
nntesd interest ~ pvr cent IL eata Tor shiFt