, 1877-03-20
A Dull Day in Discounts..-New
York Exchange Firm.
Railroad Information. for Stockholders
-".Germany and the Silver
Market.
Tho Produce Markets Moderately Aotive,
and Generally Flrmer. bnt Close
Easy.
rro1isiaat In Estter Demand.-sShtat and Corn
8isadler-.Msfemtat from tAs Ssahoara.
FINANCIAL.

Thsre wAs nothing new IN local nnaresa The
dnmapd for dtaconnts was limited. counter fsAntae-
hons wern not heavy. and the general situation
"asa quiet one. The supply Of pspcr 10 Of
general character, there being no prcastng sppli-
eations from any source for hank fayora. There IL
MI ample fnnd Of luapahe .eeopfces but II ID 1t
ahe dtsFoaal OF only 6sst.c1ass borrower.
fia!cs Of dheount wero SGaIn per cens n the
hanks 10 seaulas cussomert. Tn the atsret, bus.
nchs IN quiet Al bank ratrs.
New York exchange WIS scjd between banks nt
ho9Boc per 81, 900 premium.
The c1ras,ngs wcrc 81, e00, non.
TEE hTOcR ExCHANDK AND RAILROAD cQHpo-
RBriONs.
The attempt nf the New York Rtoek Exchange 10
Eet monthly rcpots from tho railroads the stock Of
which hah hecn dealt ID there hns h+cn a fatiurr
None OF the leading lines raid Anr attention to The
requcat of the Stock Exchange and thn few MINI
1oFAnt corporations that did mako statements havo
E'adtalty ceased 10 dose. Therr ara now no means
~ which tho cx.King stoekholdans Of a railroad
company can dad out fts condition. No ono in his
senses would lnok to the annual reports for H.
after the recent revelations Of their worthlcesnesA
AUD no gentlemen would insult tho management
ny nsk'ng them for 1t. Thirty out OF tho several
hpndrea railroads Ia tho country make monthly
ports TO the newspapers, but nobody knows whHth-
Fr they arr truo o. not, and they frequently are
rendered uielesa by Tho nmtsslon Of items lika the
operating expenses. Buy,nc stock In such corpo-
ratioas ta gambling.
LoAnED r1cn.
Unfed 6tAtes railway securities a1r occupying
r1oIle attention mots than over bs3nrs. sns-
1e'on extends more or less to every railway u thn
Union, sound or nnsound. Inquiry shown their
FRANCES 10 b a sealed hook. Something hcynnd
arraya of figures without sny kind Of guaranty Of
eorIettncsa Ia required 10 ailay the anxiety
awakened by recent events. Statements Of
tho most sinister character afs circulated
and gain etcdcncc, nccau.e The bondholdcrs hare
no means OF knowing whether they ara tEua or
t-da'se. II the railway companies themselves do
mot causs their managers and agents 10 Put their
Aha1Fs before their morgaEcra and creditors In tho
;-elthsest Light thore Will be an eud 10 American
>snilwAT credit hero for many days. Ilithcsto It
Ans been tho fashion 10 keep silent when matters
went wrong, but that may boeomo impossible
t3f disasters f0llow dlsasterS u they havo
hccn doing. II IL no consolation To the dcspolled
bondholdera 70 Be told that they have their remedy
IN foreclosure, and their interests therefore arc
amply projected. Doubtleas tho rallways can be
+"ld 10 satisfy thu mortgage holless, but 1t does
not follow that these can at once their rieha
and make the best Of them. With help and
straightforward attention. tho rights Of mortgages
may be we'll looked after under the United States
laws, but a. d matteF Of fact for want of such
help, mora fuHous 1osscs have hccn inflicted and
Grues Injustice done bondholdcrs By foreclosure In
America than by my other mcans. Loan agents
hhnld bcsslr themselves In tho intcrosts Of tho
suffering honll,o1,lcrs. Meantime tho bondhoIdeFs
might unacayOr 10 secure unity OF action by throw
Ing thcfr mortgages into trnst formed o! somc Of
t,e leading holders who could speak with author.
ty.-Lohdon Tn<s toy eobse,, Adreh Ii.
LEGlHLArtoa ABOUT srocK-0ANnLINd.
II IL not In lenasylvana nlono that the attention
oE lrsalanrs Ii turned TO stock gambling. In tho
lsrtrn Parliament notice has brcn given Of a mo.
tiu To appoint royal commission 10 look Into tho
$,.tI anal NJ