, 1877-10-12
The Four Per Ccnts---The 81 900
COunterfelt---Tho Stock
Market.
The Produce Markets Irregular, with Less
Doing-Hogs and Provisions
Tend Downwards.
l General Weakness In Crtadstuf1s but WHEAT
aud Corn Closs Flrmer...take rrtights
Easier.
FINANCIAL.

There WAS little activity In the loan Market Tho
calls from the country for are light Aost
Of ths hanks In tho interior have accumulated largo
amounts Of currency. npdmanJ Of them now hnld
more than Ia needed At tha present time. When
the hog crop begins to move to market, "a It will
ID few weeks, the demand for currency Will bo
greatly strengthened, and It will be distributed by
millions throughout tue hog. raising regions. Conn-
try applications fer rcAtsconnts continue, hut arc
not pressing. A moderate nmoupt Of negotiable
paper IN brought to the bAnka By their cnftomera.
hni the applications for accommodation
are not As numerous and heavy ~ tho banks
would be glad to SEQ them. Hates Of
d-count were sl10 per cent st tho banks to reg.
Mar customers. On tho street frstcsss call.loans
uro negotisted at O per cent, and good tlme.pape
Is negotiated at per cent. .--
:Sew York exchange was sold between BANKS at
G1ls0c per II. 600 discount.
The clcasing1 were 81, 500, 900.
THE F0uR FER CENTS.
The want OF immediate sncccts In negotiating tho
new per cents In Europe IA admitted by the Syn
h,cate, hut claimed to be temporary on1y. Eu-
ropcnn invcAtors refuse TO invest In 80 fow.prfced
security a. long ~ there IL even 4 remote contn-
gcncy that tho Eastern wnr rnsy involve greater
nations Than tho present combatants, and Greats
a great demand for capital and high rates OF In
tcrc.t. Tile ~ yer cents stand In tho way
Of tho per ccnts Many Of Tho former
are chuhglng hands In London, and at 20 low !
price as to prevent tho sale Of pos cents at tho
fgurc pus upon them. nut the AIS will soon dis.
appear. The SIN reports that people who snb.
scrlbed for the per cents aeem moro xnxEons to
scli out nnl forfeit their c-rer.ccnt deposits than
to pay IN the remainder Of their subscriptions.
The cause Of this IL said 10 bc tho Increase OF In
terest rates. call loans commanding pcr cent
The honse OF Ven hoffman & Co.
arc SAID to have operated agalnst the
syndicate with great energy. A Now York
81. Sk... -I.-A H...a af<NA
began to lock up the carh gold In Wall atrcct ~
to advance the price and make subscribers 10 the
loan feel good, Won Hoffman appeared In tho
street ns a lurte sol1cr OF exchange. Iic sold Il
great deal for gold md then he threw millions Of
coin upon tho market. The price Of gold went
down, and also tho new 4 pet cents. Then tho
Erccnhacks Dbla!ned for tho gold were loaned ont
ut and per cent IN tho street on cali." The ap-
prosching session Of Congress can hardly fall 10
have some eject on the negotiation Of the 1 per
cents, Eearly a hundred bills on the finances arc
said to be ready 10 bo thrown into Congress In the
hsst weck uf The session No Important action
can he taken GU tho currency question or tho re-
sumption Of kpccIu payment, without affecting the
national credit for good or bad.
sTocE BrEcuLATpRs AND THR LOAN StARKET.
The rtso In tho rate OF Interest Ia Wall street to
per cent on cali created Guttef among tho stock
spectators, and II It continues, may have greater
rrsul,s. some Of tho leaders Of tho bnll spccula
tion are reported to have attempted to change tho
collateral ,lepnsted With banks by snbattntlnx for
the boul- aud other frsl.elaas securities which
tue lvsnr wore originally snade stocks which havs
reccnfly advanced In price. Tho lenders arc zail
to nave naturally enough, made serious objections
to the proposed change. The cause Of tbs rise In
rates the calling In Of ST. o00 600 or s., 0o0,-
ocO Of loans. Tho loss Of say $40. 00o, 00O In
grrenbacks would certainly osoduce good deal
nore Ut sraln and hero it Is worth notln9 TINT
In Itf md fhe Ennfh far In