, 1877-10-26
Light Demand for Loans--.New
York Exchange Par,
Finances in New York-1old and Silver In
Nol1and-The Stock Speculation.
Ths rradnts Markets Moderately Stiire md IT.
regular"~lloss in Largo SIMPLY and Lower.
Provisions Tams.--Whcat, Corn, and
Oats Stronger for Spot.
Treights Very Dull.


hanks report thHAluefaOtb fuFriuH III 1u9hao'o
funds. Discount lines are no better than station
arr. The country hanks continue to forward paper
for scdiscnnnt. Collections arc difficult, hu: this
fact docs mt add very mth to tho sppllcatons for
lank accommodation. Hates Of discount were w.
10 per cent 1T the banks regular customers. a1d
on tho street krtt. class call loans we're negotiable
at rer rent, and une1rcptIonablc time paper at
1tl8 per cent. The ordcts fEnm the countrr for
currency were only moderate and the receipts arc
increasing New Tork exchange wns fFn' and
was quotea At ratl &c per 81, 900 prcn,iam. The
clcaencs were 81. 400 600.
Tnr FINANCIAL SITUATION IN REV TonE.
The Legal tender rcfonreca Of Tho Now York
banks decline slowly. From Sept, 80 to Oet. Fl,
1870, the foHs wAs ~ 0oo, coo. but from Sent. 20
10 Oct. 20, 1877. this loss was on1J 81. co., 900.
The lonns arc bnt $oa. 1s3. s00 against $40 i57.
GOO IN 1877, nntl 4sAl. 973, 100 in 1871. The
deposits arc sins, El 800, against $201. 00f 410
In 1H74, decline Of 2l,0 per cant. Totvithstand.
Ing the hight demand lately, the 1egat-tcnder re.
Rerves but sac. DAD 900, against 9ts. 7+o eG0 In
1870, s;,4. 70o. 900 In ls1j and $Ja. aao. 400 In
1874. decline between 1874 ami 1877 Of % per
cent Dursng tho past year tho amount loaned by
the National 1lanks on cali has been reduced near
ly SIC. coo. Oo0 hut large proportion Of the loans
for stock operations thAt have been hitherto n,ndc
call have bccn mado this year on lime, and many
Of them until the end Of tho year, The amount
dnc by The New York National hanks to other
banks 10 now s75, 720. 800.
TIE MONETARY srsTRM OF HOLLAND.
To ths Editor ~ Ths Tndunf.
cerrAao. ne,. :!,-At the present tsoe II tho
cmAs. IERxxnAx.
Ansrtr. HOLLAND has, Professionally. both si'vcs
and gold for legal tender. In April, 1871, law
was passed. dircontinutng tho eotnaPs for indi.td.
uAls Of silver which up 10 that time had been The
sotc lcgal tender Of the country sInco 1877. anu
providing for m unrcstrictcA coinage Of gn1d with
lz.. nS.r taItn -
tween the nctals Of IL. 904 10 l. Ender This law
shout SEQ. QUO. 900 OF gold were coined up to the
middle OF 1H7O. The lav WAS to cxp!re Han. I,
1877. nnlcss re.eaactcd. The Government rru.
posed several bills TO The Legislature demonettz.
Ing uiver, but they were rejected and law con.
t!nunE In fierce the legislation of 1876 was Gnalty
passed in December last.
TIIH STOCK SPECULATION.
The uncertain condition Of tho stock market Il
explained by The New York World on The snp.
position That the vrGfous bear movement 4f tho
last week was engineered To c1tricntc d hear
trecutntfon TINT was begun several weeks ago,
nnhat much lnwrr prlces. 1t sa5s there haa been
great distribution Of lung siock, and that scv-
ctal Ut tho Iaie prominent bnfs havt now got
e!rar. The first hull to sell ont, presumably Addl.
son Cnmmaek. now avowa himself. bear. Tbs
New York Triha"e r'eliesa tho spec'1y end Of the
hull movement. II declares that t'It has " en-
foreorlai,,ed from the beginning VI tho late
wonderful rise In ttotka That ts Grst serious de-,
fcciton from Tie 'bnl1' ranks would end The
can.raign. and Hltiuu.h shc market for some
time 10 In likely 10 tc tpbets tn frequent and
rharp rallies, the hour IL fa.t' approaching when
real yniHca Will command rDore attention than tho
capital os few lntatnatc,! indIyluals.t'
THE NATIoSA1-nANk cincrLAvlos.
Tic withdrawal Of ralloual-R Hank circulation
han bren arte4tei. For some time psst no legal.
tenders have necn deposlcl with the Treasury dc.
pa.tmeut for the rttsenlcnt Vt National. nank
NOTES. On Tic contrary, = large number OF banks
lave applIud for increased circulation.
TlEB HoSANzAs.
Until within fonr weeks Snnt. 1'air. In making bis
weekly reports, has always noted Tho lpvel4 from
which tic ORC rrodoct nf lhs on,uldated vtrginia
and California wns taken. This Information Ia now
withheld, hui for what roason the Daile.ia, which
speaks OF IL II unable 10 tell.
GENITAL PACIFIC EARNINGS.
The official report Of tbs Central lacidc for Sep
tembcr shows that ttIc cFuss earnings were ST. 4.n,
b0o against s.. Hi, n00 in 1H1G and 81, sjJ7 600
in lA71, For the first n1nc mouths Of this rear the
figures werc ST., oaa. lo0 asalnst sl3 1N}. 600 In
1876, aud 3l., 57, 600 in 1875, all III grccnbacks.
DELAWARE HUDSON.
The s., 600, 600 OF Delaware 4 Hudson bonds
not reserved 10 eovcr The 81, 600 600 falling due
Nov. I, and tho 81, 200. 600 reserved 10 meet q
later liability, hays been sold at 10 10 syudicata
composed Of tho Directors Of tho Company and
5!essrs. Astor. Kennedy. md ricrront Morgan.
COLD AND GnEnNuAcKs.
Gold was 102A q lDck In grecnbaCks.
Grcrubacka we're g7A007sj cents N tho dollar
In gold.
FoRyInN RxCu1raF