, 1877-12-28
The Director Of the Mint and the Silver
Msrket-New Telegraph
Company.
The Produce Markets Moderately
Activc---1Iogs Lowcr-.-
Provisions Easier.
Wheat Stronger---Corn Weak
---Other Breadstuffs
Steadier.
Grain Receipts Very Light, on Account
of the Mud Blockade.
FINANCIAL.


Tbs condition Of local finances could not 10 bets
ter Illustrated than By Tho success Of the GILT Gov
ernmcnt In Its application 10 the banks TOT fx
months loan uf 5000. 900 ht 7pcs ceut. The Ennas
Of Tho Lanka account Of tho stagnAtton Of ous!-
ners. are accumnlas1ng. Tho number OF dcslrable
applicants for Accommodation isyosJ small. anu
the banks, after granting their customers all inc
renewals that are proper, have large suspne leit
Of Idle capital. On good security there Is no din'
entity In borrowing 1t low rates ~ largo amounts
~ borrowers can use. Ia default OF the shipments
psuA a. this tins Of the year, many country hanks
arc kendlng currency 10 New York to meet oh'i-
pa.ions due there jan. /. Currency rs beginning
10 now freely to tho East to meet railroad anu
other dividend and lnttsnst paYmcnts dns
there on tho arst OF the yenr. Tho re-
cents Of currency hero arc larger than the ship
men,s. Rates Of Discount In tho local loan mar-
ket 1rc TGb10 per cent on time; call loans are at
lower rates
Now York exchange WAS sold between banks At
Gcc per 81. 600 premium.
The clearnzs were u. 200. 600.
THE DIRECTOR or Tn1 MINT.
This Director Of tho Mint hns the dtsbutsat OF An |
extraordinary amount Of Government money In |
tho purchase of silver bullion for tho subsidiary
coinage. From January. 1878. to Junc no. 1s'7. |
the Directors purchases amounted to tho I'M
menae sum OF so, iMl BOO. IL. The silver bought
VIC have any information. was bought By tho d.
rector Of tho Mint privately. No puhl1c tenders
were called for, And no public negotiations made.
Tho Ban Francisco Chronicle charges that the NJ
rector has favored certain banks, and TINT hc has
suborlluateA tho interests Of tho Government TO
those OF tho Nevada Hank, and TINT he has fur.
nshcd tho President Of the Anglo Californian bank
with Information tn cipher In advance Of other
dea]ers. According TO this authority tho bulk Vt
Director tinaernnn's purchAses wGrb made be-
tween .Iannasy, 1870. and June, 1877. At the
average Eato ut lt{ CENTS per ounce, when the
average market ratio was only liz. ~. Thcas silc.
cations specific aud stroua. ills 1T lsast saie
10 ssy that public uniccr should manage bis par-
chased o! suppca on such syeem that secret
clphtr messages to ono of tho ''parttcs Of thu
other pnrt" shonld bn unnecessary, and It IL
equally eafe to condemn system that leaves the
rurcha.e Of such sum ~ $40. 900, 600 Ia the
haads Of Official. matter who that otlc,al is.
LAKE SHORE.
Tho new bull pool Ia Lake Shore carried the
price up yesterday IL a. The stock was bought At
from 5Sss lb6DA. This Dividend OF 2 per cent ~.
Gently declared Ia the only dividend .tns,ag the
year. Tnc rtttkcs md tho Ashtabu1a accident cost
thr etcckhblrfs per cent. A. 4 per rrut no.
tuf,iy the stock, according 10 tue returns OF the
1let two years, IL worth ~. Tho gross earnings of
llle ruad for the year cullng Scpt. ~. 1877, sts
$500, 600 less than IN tLc preceding twelvemonth.
crcasc OF groAs earnings IN comparison with tho
pttccding year, a circumstance which II OF great
iMpor taACs IN thst II arlses from the competition
with ri.aI lines and the vastly Increased facilities
which orrrcd In opposition By steam power up.
on tic lakes.
THE Raw 1sLRaRAfif COMPANY.
This new telegraph company which has been
formed Ia New York IL n.mel tho ''ContIncntal
Telegraph Company" CantrntiA have been undo
for Tho Immediate construction OF tno frum Uoa.
ton 10 Washington, rusa!AR through lhe principal
cities tho touto. Tho right Of way has bscn op.
taIned through Now jersay. Soma OF the polcs
Arc already on tho ground, aud It IL tho intention
Of tho Company 10 construct tho section between
New York and philadelphia at once. ssycrsl now
improvements Ia tslog.aphsc apparatus will be
usod, one of them being cutntlustion Of the
Morso lnatTument and tho telephone.
riSAncaa ~ PniLAnsLpuM.
tht!Hasph!o Ltd1H.
pulse of business, whteh IL never ia fuli M !s e oi
prosperity without pressure on the hanks Tor PC
ruuiafy aceom.nodation. The bsRks aso thu wheels
On which nlaIarn commerce, unYcs; whun their
motion 10 slack Il Il certain that
What. lep, Il thu rsesent s.atc Of the money
With gseas regret compsflcl say that II il
not assuring. Within tho last year thl national
which cannot and emrloy mont IN an aetiso xsaia
OF bHstness thu banks easiiy set iron, 10 10 per
E1ad 10 get good commercial paper n lltte moro
than halt thpse rates. In spte OF 1nyxe reduction
Of Tbs currency BY susfehdafs o! bank circulation.
NOVEMBER BULLION PRODUCT.
The return from thrty-ons bullion. producing
uiues IN California, Nevada. Arizona, and Utah
show total product Of 81, 1868. 800 for November
The nay. indian Qusoa. AanntstiA uslso, New Cosc,
opult, aud Panther Mines yielded uothlug OF tho
total given ahnvs, NsTads Yielded 81, 22g, 100.
Oph!r isa good Illustration OF the !llnaosy nature
Of mining property. That mine la tho laat two
sclts has produced n, 900 tons Of ore but all tho
proeonds hsss bsen absorbed by tho expenses of
the mnc. .... .... .....
JANUARY INTEREST on TuH noxps.
onWednaaday The Uaitad Atates bss IAN thetp1epsy~
Asnt without rebate. Of tbs January interest. This
on $7As. oVO. 600 d.pss-esnt gold bonds amnant,
TO Saa 40, o00, and on t76. 600, 0o0 s.per. cent
gold bonds 10 $3.50. 600. Total gold intese.t,
ssJ. 100. 900. Ths currency interest amounts te
about u, U00, 900.
GOLD AND dHEENBACEs.
Gold wAs 1O2h 1l02H In gfcenhackh
oreeubacks were o7X 0o7ss cents On tbs dollal
IN gold.
roAEloM nxcuAHoE.
8ixty Sdvs, St9As
Sa1:t !aHs
!SlAIoul eMt
kNItxtflAnd. b3Kt
EtfMAG3s.'.+'ss.. sss.ss's sss...n.s'1tA ~,
JlhuAna ss.s+s*++ %9t ~
ss.s+sss v'..s
$50
eWaasn
Itaiaask .... III
GOVERNMENT DOhns+