, 1877-02-02
The Business Of the Banks Enlivened
by the Settlements on the
Board of Trade.
New York Exchange Weakcr.-sThe Cur.
rcncy Movement Light...Cfear.
tngs, 60, 100000.
The Produce Markets Active and Irregu-
lar--Wheat and Oats Strong
Early.
Provisions Weak.-All Tnrp DswnWards Caaer
Large Deliveries al February Con.
traits.


FINANCIAL.
This set.,e,nenh Of tbs arst Of the month on tho
Board OF Trade wcre large. and gare great deal Of
activity to tho operations Of the banks. There
were the usual transfers Of large number Of OBJ
1gat!on, from ons bank 10 another, and great In
crease In counter business. The demand for loans
was somewhat better, but the now loAna were not
largely In excess Of tho paper maturing and paid
Thc loan market on the whole - becoming easier.
Rates Of discount werr e910 per cent At tho
banks to regnlnr customers. On the stscet, rates
were per cent and np~ards.
New York exchange was sold between banks at
cac per 81, COO premium. The clear1ngs were s8,-
900, oo0. ...
LlFk-1NsuRANcn NOTES.
The New Jersey Mutual Life ts found by tho New
Jertey Superintendent Of insurance to be S42o 600
short.
Tho Receiver Of the New York Continental Life,
in his report TO the Court. estimates tho total i'm
pairn1cnt Of the Companys reserves ats 0S7, 00o
The Now York zystem Of insurance inspection II
Put on tho defense BY the statement Of Receiver
Anderson, of the New York Continental Life, that
\ searching examination At any time within slx
ycars would have shown that tho Company WAS un.
iound.
This New Lcrrcy Superintendent OF Inlufsnca re-
fuerA to recognize tho transfer Of tha buslness Of
The New Jersey Latual TO the National Capitol
u fraud md cheating ever perpttrated ip the his
Eory oI 1ifc-insurance In New Jerscy- lie says he
Is bound to get hold Of a tho assets wherever they
may be.
The National Llte.Insurance Company II de-
scslbed BY the New York 7smes. It says:
:$ S;ssi
!a.ii} anaer eSsrser unvIsey ~ Wanted u SSasSsS
Il
u r.
onneS,'cnt American National L!isot
TX: 4 $!ssf:
ss
n Is? & snS
81 ssts Sss
u *e & r. me-
x to sa1facs recipient the a..e. and i,ks oi
ss'sS. sona
Seos -: g
.r ensrxss T. e e X s1 seae
81 MSH e. % SaM ri sysHa ..a s
sseir o honss sHI %nss
th.t ~ S.i!r.,i t.rsc! h.riss no e.oatees II
se5S fs5 s
THE BONANZA 0WHENs FIGHTING THEIR TAXES
IN NEVADA.
The Government Of Nevada 1nda itself much en-.
baTasscd by tho rcFussl Of tho bonanza arn to pay
their bpllIon tax this year The rate Of taxation is
now about 2 per cent Oh the assessed valuation Of
Eavadn, $27,.3p, sos. The stAae has pursued
Tho policy Of encouraging tho mining interest by.
taxing 1t on only half ttd annual product. From
1871 to 1875, inclusive, tho mining product haa
been sl41, III. s3a, while sAc taxable valuation
has been only eA, o01, $50. The minc -ownurs
now refuse to pay any tax, and tho matter has
infyt fEa nrrtk 4hAr rnfr
!hc State will hasc to borrow $3.50, COO and in-
trcaro the rata Of taxatlou pcr cent.
PROSPECTS OF THE SILVER MARKEr.
The San Francfac0 Dutietln explains tho armnsva
VI tho silver market. 1t calculates That II tho ship.
1,cnts OF silver the asmo In 1877 ~ lsst year
fl3,b1s,boo, tue requirements Of tho mint fot
e25 900, COO of silver for subsidiary coinage and
&c., 0oo 600 for trade dola1a will make tbs total
demand from lhcsc sources 81. 500, COO. Thls Is
50, 900. 900 more than WAS produced Ia 1870 on
the pAcac Coast, according to Mr.. Valentines ng-
urea. and current prices will therefore bc sustained
probably with case.
THE COMPARATIVE PRODUCTION or GOLD AND
SILVER.
The bullion yield Of tho Pacific States and Ter.
rlturica. according 10 Mr. Valentines statemcnt,
was ucaEly sol, 900. 600, divided u follows:
E,pxsr: @ S1l
Lead anl copper. ........ bosSG1
Total. 500 B7a 30
Comparing thcee fgurcs With shoso furnished W
the snmo authority for 1871, We find, drat, that
The aggregate Yield has been Increased about b0
per cent In dye ycars; serond, that the gold yted
rhows an tAcFraAc Of little over 70 per cent dur
Ing tho ean'u ntcrvai third, that tho oliver yield
has nccn Increased 104 per rent (more than
tlonbsed> and fourth, that tho production Of lead
tnd copper has been Increased lao Per cent. There
Ire thoan who thtnk that this thing can 60 on In.
scanl,ely. But from present indications We thlnk
II will b din!cult matter to make the bullion
product Of this Paclao oust this year equal to tho
amount turned out In 1915. It should be remrm.
bcrcd that two minea alone produced about
sa0 coo. 900 last year, thing that has never been
done before. and II not likely to DO accomplished
again very soon, Judged by what il already known
ofthe condltion OF tic mlaea.
GOLD AID DANKINQ.
The New York llioyia aAya In lis financial column
that to bank upon gold depostts may seem safe
when gold costs Ut least tho current rata uf interest