, 1877-10-16
Moderate Demand for DiHconnts~--New
York Exchange Firmer,
Singular Dlrpdcr< Of a Brftish Flnancier
lie FOUR Per Cents.
The Produce Markets Generally Easier,
with Less Doing--Hogs Steady
Provisions Tame,
Wheat and Corn Tend Downward.
Other Breadstnffs Quiet.
Movement Of Produce from the
Seaboard.


FINANCIAL.
Thrrc was fH1r t'cerec Of hctirI.y IN banking
circles. The icmsnd for dtecounts WAS moderate.
Tho offering. nj commercial show somc Improve.
mont, nut the tpnn market has not reached tho
condition Of prnitahle activity that II ttil con*
1dentiy looked fur. Country banks arc rcd.-count.
Ing here Tor sne accommodation Of their customers
md to provide tuntIs for carrying grain And (Ivc
ttoek. and somr Chicago paper has gona East for
fedTsennnt. A rule, ths Chicago banks Hre
nmpv provided With funds 10 meet al the ncccesi.
Ties Of theft patrons. The banks arc pursuing
eun'cr.a,i.e policy IN extending theft discount
1tncy, IN ofdtr thst they may bo abto to
accommodate tho public later IN tho season,
when The demand is expected 10 absorb all the
lnannrlc surplus. Rates Of discount weso s110
per Cent al the hanks to regular rnatoners. On tho
ttscrt. Gopa call oans arc negotiable At per cent,
ami hrAt-cIarr time i'apcr At per cent.
New York exchange waa frn,er, md WIS sold
between h.nka ht ;Oc per 81 900 ditcount.
The ctceslncA wese 81, 700. 000
BRITISH BLGFDEHs ANoCT AMERICAN FINANCES.
The latest nnd worst example OF tho tudlcsoua
inability nj M EnGlishman TO dftcusF American
topics appears in letter 10 the London Econon,ise
on "Thc Problem Of the Resumption Of Cash I'ay-
11cnts in the United States At the Clotc OF 1S7H."
The ettc' "a signed "S.," aud Ia given the place
OF the lender In the EtonoHsiat. circnmstances
which havc led 10 the tuppostlon thai the writer
WAS Mr Newmarket, ono Of tho greatcst living En-
rlsh statIsttcian,. n. rtates the pnpcs cir.
culatton in This country Sept. at $780,
600, ooo. made M Of s97b. 600, 900 In
teecnfncks. So. 600. 600 in fractional currency,
and $3.50. 900, 600 In National. I}ank notes. Tile
correct aRurcs arc. Erccnbacks, S33B, 900, 0U0,
fractional currency, $40, 600 600, and National.
Eank notcP. Sil 600. 000. The total ID but $0N3,.
ooo. oOo, which In sas, 600, o00 less than ''S.'a"
n1nscs. The sum Of gold coin In the banks and
thA Trrh nrAtIhhfP ftr fhn nj
tion stated At S 600. 600. whcrens II IL fdO.-
O00 COO more than that. or Sl1;, 600. COO. Tho
Secretary Of The Trfasnry Is ealu 10 have the power
10 .eli only per cent bonds, hut tho law AIlows
him in terms to aell I, ~, or per cent bontlr.
"Sattnnnl nanks," ". enyR, "have failed dis
gratefully In scores OF Instances, and tic dcpostors
nnd shareholders havo su1rcrud accordingly" The
records row that only forty ynnc hnvo failed ont Of
.. 100, anf Tint or The seventeen which
have completed ihctr liquidation. raven hare
rasd 100 sHr rent. thsco between ~ and
hS per cent, Two 81 and o. cent. four ~ to 10
per erht. and anr 1'.3 pct cent In reaamiuR, tiho
rr"err",'': y. .as- ''to be accomplished By the
Aovcrnncn: IL therefore 10 transfcr 10 tho National
1tnnk. 40 mnch Ut the csD, 600. 600 of grccnbacks
Mt present circulating uH9er the signature of the
F:r4nuty n* may remain aftsf n Fiyct token coin.
nee ha4 replaced very considerable part OF thpH"
Ta'H aI imaginary: un sHch pruce.s has been
Thought Of or Il pIssi1,te. 70 far a. thu green.
hacks arr rrdcca,ra, they wilt be returned To the
National Government. and not Al all to tho banks.
THE FOUR rEn CENTS.
4 -nuil esl has n,cn thi! ahort The dcclInc in
thr rrire OF thr per cents, which nre selling at
lr.. than H.. l.rc .unscr1hcd lly those who took
them un;rr lie 1opuIar Ivan, There nte two stdc,
III tA. ir"..,s.r, The ro!d value Of lin lcvn]
tcnttr NJ the time Of the aut4crpton wa N; It 10
nowni3'7 rhr appreciation OF the paper cur.
r4ncy with which t.IG rnlI for tho hondA Ia to be
l,!st NOR. .h,n r,akvs :uod tic DECLINE In tha
prize Of t!,.. 1aut.
ErE;E .lSn THE WALL STREET Buft.,
The run F.ane;rcv STOCK E/uoyf uays That uthc
bull combination IN Wall st.cet. Ia which K.cn.
nur California representative, ba. tren 10 prnm.
incn,, does not secus 10 have bccu altogether suc
&C. .ful. Sha-rs we're fosccd 10 high a:urc with.
ou, mueh dI,,i,u]ty I'M thcrc .w.n,s IL h.so h'nn
,or,e 1trb n,,uu. nn,n.aInp rha nnb,f, Ita ~.
takn hold au,lc no cncFrctlca]1y a, waa hnncJ and
only fcw Of thu bcnrn so,,calct vcrv iona,.
Nninot mike, Mr, Keen, a heavv ufnr.r. ,ni
probably, not Tar out Of tho way. for that viiy
.pcraiur uudcr,tanJ. onrInec,ur a ,,c.i - srv ~.
,,ue. ",d "',,n. w., Nv ,,.',a :, "s"' ""y o'e
ooes' una getting out IN nme.' =
HH't'sit Trade AND HEvENuE.
Tho returns " British revenue for tho quartos
cnasns Sept. 40 arc not encouraging. There u =
,aa'aE away Of = :'.s; ,'t 900 IN 1svenne. Hrsi.a
hn'nc'cts n'e IN fhc habit Of eau:lng the general
M s, 'se q, ,a o. tne
d but ss' 5 ,"sw IL. ss ssss;g . s
sssss; ;s; j., point: sst : : ',ss:
immediate, AFFECT, ,ee rsvsnus ''w.
p,om.s' may he realized with great advantage to
o q, ,s.eo are VIII
not . shsu,s for he;,, must
10 snor .ef le,iv ~ 'o' ,h ,ho pees