, 1877-10-10
Tie Produce Markets Moderately Act
i've and Generally Firmer.
Hogs Stcady-.-prorisions Tirmcr on Fu'
tures-.-1Yhcat Excited and
Irregular.
Other Breadstuifs Firm with Bad Weather
--Stoeks Of Grain In Store.
FINANCIAL.

eAt!nEs for rcutfc1unt 10 nor nR4leEalt ~" r""o
amunnt ~ nntIl Within week. Tho farmers Ale
marketing their eropa cautiously. Wholesale trade
remains cxcclgnt, Int tas not brought tho BANKS
as Jet much employment for the1f loanable sur
plus but in this there are Indications of improve
mens. In consequence OF these conditions INC
financial sttuatln Is dull. and the supply OF 1unos
IL inorce.s OF the demand. Ratcs Of discount wefc
SGtI0 per cent At the banks 70 regular customers.
On Tie street mood rail- loans arc negotiable per
cent and t,.at. class time paper at 1rer cent.
New Yurk exchange was sold between banks a.
15cl ST. 90 per 81, 600 discount.
Tho clearinEs were 81, zoe, 600.
TIR BTocK MAHKET.
The wa1-stseet market remans In very fntef'
csliiK unl artificial condition. Onc singular fcnttrd
aLou, II IL The recourse OF the fpccuasors for the
t,rst time since the fa1t Of 1S1-bcforc The panic
TO louns obtained on borrowed bills Of sterling
exchange. 'rhc lnrge amounts OF 60'day bills they
have borrowed and thrown on tho market accounts
for tho recent fall tn tho price OF exchange. Just
before tl,e p,nic optsators bnFdencd with large
amounts OF slrckx resortod Ia the same dasiec, anu
tic Eenuprarance Of these tactics H. moro suggestive
than oyen the falling level OF tho currency re-
serves Of tic approach o! trouble In the money
market Such bills of c1chanso arc only species
II accommodation paper. and have been already
.Ii.eonn,ennnctl by the Hank OF England. This
discrimination may Eostihly he repeated. The
Operators bulllng tic market nro still buying
stocks to ah,l 10 thelf sffcady largo holinga, aud
Fill putting nD tho price. Tie Scw York EreHtaF
Ivsf beIlcyes that n lie half.dczen speculative
capitalists who now luId tho great bu's OF tho
Gva,in elock In the street. iuc1unng what has como
tutu tho street in tho last eight weeks, at prices
rang1n, nil tic wuy from The lowest Of las1 spEng
up 10 present 1Ruree, convince themselves that
etocks nte worth ten 7unts more than they arc
now selling Tor. there Ia nothing 10 prevent them
ndyaucIug them 10 those dgusts, nor from main
.Intn, adv mi a their fdCtl1A
ties arc equal 10 Tho work, whith they have been
proved to he up to tho present point. Ons canso
uf The continued buying bs these gentlemen 10
the CONTINUED se'!ng by The public. For some rca.
ron or other tho public. which l,ns hitherto sioo1
unln1h1neIy at tic miik.pasl Of the Wall street
rlkr:s, has balkrd. Inpcatediy the present clique
have marked np tho trcea nf their property, sI.
pcctins that tho public would ~ Msual rl,sh ,aio
a rising market md take up lllc 1uad. but for
once the tsing market has cbarlus, and Tho pub
lie continue nrllcrs Of st0eks The Natfy HailstIn
ASSERT. that the large holders pr"fcss 90 concern
nj thir but s1y that nfter prices put atll high.
er the puplic, with Tho large earnings Of the
tuads before them, Will forget the large adsance
md that tho exceptionally good hasvcals hare kept
tcycrs, rouds out Of bankruptcy, md will then
come In and tnke tho oa,i on their shoulders; that
II this buying by tho public 1ncs uot come before,
il Will epmc In January. or II pot
then In tho spring Of 1HsH. Worto than
tho, refusal u The public " huy IL Tho rAinsal
u shorts 10 sell; notwithstanding al! tho aftful
and depressing financial articles That have sp.
poa1ed In the papers no substantial short luteest
has hccn formed. Tho Watl street matkct was
never so little complex a. 1t 10 now. 1t ~ com.
posst OF an Immensely powerful bull party. NTH
= rnR OF spccuntots. The arguments on which
tha bulls baso their plan of canpaign arc well
stated by tho Intelligent Suw York cor.
RESPONDENT Of Tho NU.lon C9,nnlertldt fjul-
JIf1 Et,ov hN rfrH
1nous fselrht!nS Ansluess which must 10
done by the roads in carrying those crops TO mar;
hxt; ths certain continuance Of tue fluasoTuskish
war; the improvement Of E7affs In tho Southern
States SINGS ths withdrawal Of the troops; tho
1aevc lncrcasc In our exports ~ well ~ internal
t,atc and al last tho :'osiu9 OF navigation, which
will vastly lnrfoass tbs %olp1ne OF railway ffctshtss
tue puoling Of freighta by Tho trunk rail-
ways and the drawing near Of that time
wurn grccnback will ba worth dollar In gold.
Tho ,noAt important cousIdcr1tlon 10 lcH cut OF
this catalogue. It ts the 6,nost eumptate loss Of
public cunaicnca tu sntE~aY securities u Invest
r,sptf. Tit repeated disclosures Of The last four
years have informed shs public that tho aInsnfs.
i,a.lou II railway property, as rule, Ia Aaertss
Ut breaches Of trust and larccuces great sad
small. The solid foundation Of The ttoek market
tctore tho panic was The uuyefaas favor With which
railroad Investments werc regarded, ana tho pre-
xa'ilng Ignorance Of The methods By which rings
IIundetel the.c yast properties which 1t waa lhctt
lfus, 70 protect. Tho eaino code Of tnl-
eh.uerY fur it, exercise. Freight compa.
,ics. transportation companies, al1 k!us OF Credit
Mob,IitIs, rir7s nf stockholders sni Nl1ec:oEs,
corrupt Interests of officials In patents mud con.
irurta- colluatoa trtwcsn 1uauagoinsats a1l Wall
ktIert ct0uet. eil ihesa dsvcst fur winding ths
rsal vwuets Ut fa'lroad property. aad ths public
that usr Il. ara stl! III active upst2tiln. A. long
tha uuf tnttF tt1ts m ha fhn
eurilies VIII fail u recover the fayur they once
hsd, IL pass mlsdtsds now ispraves Wall streel
Of .he ru bic support without which Hl soon be
tllej with w1srk second only to that Of Eaptsu,.
btr. 1H7a4
ynusrsEs or uAiLhpAp PROPERTY srEcuLArise
IN WALL sTHEKr.
In it, 70 port Of tho stock mastrt for Fr,1sy, h.
# has bse,l trsrrvr,i fnt thr moas,n rk,l,oss
,uan.eer to Fu.nipalate .hs s,oss Ok ,as!ks: eytt
the ru,rs on ~ imaginary hast tnssa ata A,tanesa
nud hafmony" II published 10 lte xu,ll - III
sses ae;S seeI netanx
y .!sss thns. DO 10. change ~. IT, soyS
Sa,atN ~ anan b., m.utsetufc, ~ fStufs |" G..syus
II haa doue Tho latter no Lew than ~ times 20.
lbe panic u 1879. Aud u esnnot ~ y w.!ho!
country, because a tsalitaton OF The lrue sta
t,on. In ttne. will ks4ert itsslf and whlis ans !
h.: p,G@ n: n.n3 xh 'ans .na
Ing elsAlentt -
tstdAy IN ths ptccs u stocks Nas nut indicative
any change in sha teu'per Of this spseul41lon The
eaa te nuns ant.! tbs present .pccaatots eth,
succeed ip 4nuipK = market lot taeH etotks o. q
rive ut q point where tnsy bare Lot she a1lllty
buy snutiss loo shatas, Mhcn ths, reach lhi
punt lbs 100 shArsA Wit. bf Tor sale aud the er,
VII then b tQuAt - tIat VI bo QOo shares ouerr
now, ln tart. the pssscnI speculation ptessn
puI festurs whieh has no! hae T. 2aFai.ei r e
t4at. The capita; eugaYsd u undoubtedly sfsats
llsn ever bsfofs. but there u No tapisas which hi
not llutI.
Tn8 BANS oy cALlyoRNlA.
Al the annua. meeting Of tbs bana Of cAltfora
Last week. .hs earnings of ths yeas were report
u s5S3, GOO. Although only two-th,rts u I!
capital Il employed. Abs earnings Ahos profit
over IL per cent on the entirs capital. Attee ma
Ing ali allowances, there II clear cash surplus
$loc. 600. Tbs Directors eletts1 anl the ghaF
ncld by them ato ~ follows: j. q. Mills, Z, IS
Thomas Bell. $50: William Sharon. ), 809; Willis
Also1u, 80; ueorys u. Howard. J73; E. ]. Bal
WIN, 1000: Charles Asyne, U75; II. u. Ca1ps
slsr.7ll; C*l1tu fa!xs, boo, Michael Rssac, q, w