, 1877-11-01
Discounts Decreasing and De.
posits Higher.
Chicago Trade with the Soutll---
Tho Canada Pacific.
The Produce Market More Active..-
Of the October Squeeze In
Wheat and Pork.
Provisions EasJ-.-lIogs Ffrm-..Corn
Wcak.-.Othcr Grain Steadicr.
Stocks at Leading Points on This
Continent,
FINANCIAL.

tCQllneT1t,
FINANCIAL.
This bnnks arc not making much money. Do.
poa,s On which a tar Of one.h half Of per cent
must be paIi tho National Government arc going
ny, md discounts are failing hway. The supplies
OF paper from the country banks for red!aronht
arc not large a. they hare been, nnd the arpIt-
Gallons from, city customers ara only fair. Tho
1oanable purplne oe our financial Institutions IL
increasing under these circumstances. Tic orders
fEntn the rountsy for currency *esc larger, and
thu price of Ssw York exchange WAS consequent
ly lower, racr between hanks being made al phrfA
c5c per $1,000 premium. The efeArinrs were
ST, au0, ,uOu.
TnE CANADIAN PACIFIC nAitWAT.
hr, Sanford Fleming. The Engineer Chief Of
;hc Canadian pacinc ls.ilwny, has puh'stnesa re-.
port which IN declared by The London 7fn'fs to
show the hnpe1cssnces Of making the road pay
Ing speculation within reasonable period. The
51mss rnys:
The ,otel length Of the liao from OTTAWA TO the
distance greater thnn The breadth Of Europe. and
twill pas thronsha territory WHICH, fr1ln The
'a.. not s'sS con,an q e. ooo whi,e eA mon. A'1
where on tie route. .he winter Il long and mott
severe, Offering little reimbursement, to sett1ert.
and whatever route !s eho.cn the sngincEr!aG dit.
Ss"'"s %as y, ss''s,s'ss il. - shs % ss:; q
Which SS these M @ountatns arc to bc brdrp
land there no lc@R tnan eleven different l'ac9c
srm!n, r'up"srd VII! ss s oSo @ ov tn ahs ts
are as high q tN, 200, COO; ThIr IA .he worst sec.
lion u tie line to BE- .arc. hut there does mol seem
,neh - would |M.!ify MI outlay; The mountains
sre said 70 abound III minerals; lut 10 mineral. ln
J0oO n,iIcu AMI! pay The miner. Al regards t.s,
fertility Of these central w,lts. there apuears Ia te
!ess absolute rrsrt Than was At one limo sappoFc
Mach land IL available ftr pasturaRt and sun1H tor
line of rAtiwa!. The fatal area II estitnaied II
l. O0o tU0 acrer. Of which 10. o00 600 arc atablc
IN the region ictwecn Lake Superior and the tDckT
Munntuint. Il is., however, a. We hasc sad. a.
trt land without inhsbltants, anu With fomc for
oilnH ieatures.
Thv 7tnfs dIrcouroVes the construction Of tbs
sond rs an expensive and needless undertaking.
and one which in lve years would add $500 00O, o00
10 $3.50. GOO, 700 TO the Canadian debt.
THE FINANCIAL SITUATION IN Nuw YORK.
Since the Int of September. tho reserve Of tho
New York banks has decreased 81, S!l1, 700: dur.
luz tLe corresponding wreks OF last year the La-
sHc waa $aNls. 600. Tho 1cRal.tcndcr now
m,nt has not exhibited the same uniformity In
other cities, Last ycar tho hanks Of Hastou and
Philadelphia gulncd S. 800, 600 In eRa-leudcrn In
September and this Jcar they haso Inst abuui
81 UlU, GtJO Meanwhile, the Treasury, which
in s,n,e, ,nirr. 1H1u. tncreute1 III ,conI.
trnlrr xturc 81, ZOO. ocu. has increased
II ~, ;IoO. 0un IN fcnembcr, 1a77. Since sept.
I'M, Now yo,t barkx hoys jnrrrn,ca thcIr .nocIc
rr.rryr aht,ut 81 400 0)D md the coin ,,otd nv the
rrrn,ur- rut coycrra by rola ccstItcatcs In. In.
creased f.: s. fsIo IN The last Two months. This
nokcs m Increase or arecis in sight Of s25 OOO..
O0U. while last year In the eamo tmo tlu tncreaae
WI. but 81, :,;,t, QUO, Tho New York banks aru
cniny in their iOuna. tho drcno iu which since
scpt la. lrcn 81. 4nl, 200; in the time last
year there was un expansion OF over 81, Du. 900.
The muvrlnent OF circulation has been opposite In
the iva ,rArn, sfucc Sett. there has bean MI
t. g., nv, -, ,sI ~ ~.,
thtEca7F VI H"nhl S.tUuVuuVs Will 1ase 5cat theIo
WIS q EETl1ttlleHt OF
......,-....... .,..,...,.-.-
*' "fSS'sssAAs%
An English authority OF hLsh rrnk, Mr. (3lffeu,