, 1877-04-25
FINANCE AND TRADE.
Dull Day Among the Banks--.New York
Exchange Irregular.
Ono Thousand Millions Of Municipal
Dcbts-..Rni1rond Donds.
1 Central Ad1ante "l1eng The Who1s Lfne ".~-
fho What Dial Being Cls1ea Up.
Corn In Good Demand on Eastern Account
GRAIN in Store.


GRAIN in Store.
FINANCIAL.
Tho day was duil ono among The banks. There
was only moderate dcmlud for loans, and counter
transactions uero mot heavy. Tho mercantile sup.
ply Of paper s still small, and tho Board Of Trade
, applications for aseistance arc not Numerous.
There Ia very little good outside paper bronRht TO
The banks and They complain Of inability to aae to
advantage thc!r Accommodating means.
Rates Of discount are 80 10 per cent At the banks
10 regular customers. On tbs street nominsl.J the
esuln rates ptcvai1. The supply OF good negotla-
bio paper Is not equa1 10 tho demand.
New York exchange was qnoted between banks
at5ob75c per 81, 600 premium.
Tho clcarinGa were 81, 900, 600.
ONE THOUSAND MILLIONS OF MUNICIPAL IN.
DKBTHDrEsB.
Tho Public, Of New York, has prepared I snu1.
mary OF the debsa Of cities Ia this country - sr
As they be asccrtaincd and makes tho total 10
b1 81 004, 900, 0O0 In 1870 ths reported debts Of
tho Municipalities recorded In tho census amounted
to s2oD, 03s, a51. Since that tins there has been
an 1netcaso to s744 oo0, lo4. OF l70 psr cent The
debt OF other municipalities WAS $50, EOS, DO IN
1870 ana this With the Increase that has naturally
accrued carries tho total mp to enO7, 61o, $50.
Adding to this an estimated increase for The past
ytAr, VIC hare tho present municipal Indebtedness
OF tho country At 81. .oo4. 600, 600. Commenting
On these facts, the Pu6lit says:
dthts, Though fi,ty rad, fnvoives tax nj Shout
oa e IL co.. Il @ s r. ps es r ~ a.
oser M on oo' Y 1s7n nnd h. iarHsly ncreAaed
n .sy Hi Ia munipsi sad ns,. IT. 1 rs
q. kNn nn. pn ycartJ, an! In addition nay k,tout
@ ~ tn III @ stst9 aon c9nnLy rnrposes wn!le tae
uo About tn2o, fon mi yeafiJ "a raY il ta1rs. M.
as. aeG.s a. f.t tqI hst, tsttteo ana nn.nosn
eiaia. And attrr paying more hsn 81, ner csria f1r
Err q ~ var1n1 .frtH hssdea nn9d llons Il
Of nore t,sn IL pcr eapta yentty in iS7p tbe sreS
M q ~ nropert, T. shc eonntr3 Wa about s1t.
ment exceeds l. ner cent yc@riy or that V.}natfnn
snd motroyes the fnGrcaso nf municipal ehts Il asout
aeGt At tfs Tsts or ncl scn. II ~ h o. an .a
yane OF ~ property. and st We wonder that Va Do
noE pr"epe!' -.-
f''A nsv.1ns w. rsrs n ~, s,ocHs' =.
No one now wonders that the coal companies
7ost credit. Tho danngo topc to Rock 1.lnnd
oy Inc aeeesaion o. mr. 1ay uou'a 70 sharo IN ss
manaecment mas oeen aggravated oy tho discovery
which connects men who should have protected It's
intcEcats with speculative operations adverse to
them. The tumble in Pcnnsyfsanta stock, which
occurred yesterday 1t Philadelphia, tsintelligtho
enough 70 those who have ectn the Conpanys &C.
counts. What more natural, then. than that tho
atoeks OF roads leased and guaranteed by discred-
.1scd compautcs should snders The vatue Of
guarantee hopsndt upon the standing Of tho 1casco
$,mHu hNn hTNtH {krNh n&uSA ~
fhercfora. pFeetn1x w,at miebt Snr. h"rn .rn"ct.
cd bocansS tho value Of kho shafcs IN co1,iln9tnt
upon tho financial ability Of coplpanlcs which are
,1 59fe S of lee1 nnaeta cloud. Where tl.e ptoccsa
mins. ne |' ~ '"'e'' D's'''' - 4''''' 1s'S''
Se,e TsFk i'at'r Baaeas.
dls,tu,t in which thcy ato held. Direetors and
1ueetea :, owner. IN plaee Of tn'' and frank os;
posust OF a that relates to tha1s companies, and
which tho. owners or shareholders ha1s beau en-.
tited TO- tho latter have been kept In tho dark un-
~ tae collapse OF wholly un.onna company like
the 1ersey Central has "stonnded shareholders In
ssss S ,as. @ se"s.sss s
rse hs s. s ,s s1ss Ss. I'D
fss' 1s teen T. s1 as
si,iea rrss. nay e much lower sat ~ hayo
ass "a "sg e
's M. ss% s1 .sHx .ssf nsss, ss ss: for
oe. kind. ., .,oss only shout S sre:sfa. III = Z.
AMOUNT sold In 1875. Most Of these transactions
were on tho 'poen.ti,o .e.ts.. For example,
@ Union .ed a:u 1s7o sn md 'h.a IL
IaKe n sso.a a'S ,ees
! trnses tho point ssaln; moro than 1900, COO
3s7s p.sa1 ,a Mali ..' ,sos with ss :s
u IL Tsw Yoit sesk Esasssse ss' I'D % .Sost '
sSS: S9S ssa'ss W. I'd; TSs SsIe :.is. iosss
St<ey y cs"tt. boo ssa eo5 sSs!e. D nei.rsse ~
60 ;'':: sS