, 1879-05-20
Another Advance in tho Fours-. What
the Country Banks
Will Do.
Active demand FOR I.ocnl Secnrltiea---
Discounts Ltg1,t-Stocks
Strong.
Tho Produce Markets Less Active
---.NVAcat 1rrcgularly
Higher.
Other Grain Stoady---F1oqs and
Provisions Easier.


FTNANCTt II.
Them wss another nilyaucc Of x IN tho prize
Of the 4 rer cents. Tic quotation In New York
was 1o?x hid, n,,l 1o} asked. In Chicago lilo
tlcatcrs were paYng 1o31fG4l0aal, mud selling
nt lG3. The 4i1s It, Chicago wcro 1O7ii bid to
1o73x asked; tho Is, 107 lid null 1a754 asked;
md tho Is, tu93S bid md t031& nsked. Thu
holders OF per cents oro now selling freely OH
this market. n,tt dealers report that the rso III
pr;ccs has maao their purchases larger than
Inc salcs Country bankers lavc begun
to make lids for round amounts, but
no important transactions 11ayo ret been
made on tlle.r account in thfe
market 1nctr InllIeposltiou to pay tl,o hiyl
prices asked for Tue Is IS almost uncomfortable,
md nothing but absolute necessity Will make
them submit. Some OF the shrewder bankcss In
the interior fayu discovered In tho 4 ney cent
rctupdfng certificates mct!ium BY whlcl, 10
escape from the corner tho Now fork bond
syndicate horc forced them into. rost,uastcrs
have the right, upon filing gool bond, to re-
ccivo 1efund!ne certificates for sale, Theso
bankers arc supplying thc postmastcrs with the
neccssary security for their bond, md arc seeing
to it that tho rcfundlng certificates tlo not ra-
main a drug on tho ofsctats' hantle In shta
way $4,000 or more rcfundstg certificates
can easily bo sold IN town where the natural
popular demand would not take up 81 900. The
postmastor likes tho operation, as he gets his
commission on nil his sa1cs and the hankcr,
WHO gets the bulk Of the certificates, likes Il BE-
cause it makes bis / Der cents cost Him oniy par
md accrued interest Instead OF loaX0aloa.
Whcrever this plan car be worked It is IN sic.
cessft,l opcratiop, or about to he 40, some Of
tic country bankers have decided not to replace
their 1O.40s With per CENTS, cycn upon the
maturity OF the call. they argue tllnt
rhcu midsummer is rcnchel every das's
dc1uy increases tho probabilities of
break in the prtco Of 4 pcr cents, They Wilt
leave their 104os In tho Treasury TIL The market
quits them. Probably no obIcctiou will te mnte
bv tile Treasury, os the transaction amounts to
loan to tho Government Without interest,
Rank, dolnc this will act on tho calculation that
tho dcprscIatiou tl,ey cxpcct In the price Of Is
vii tnnrc finn ofract thc loss nj interest.
snnnlg md 1cmu,a nrc l,o,b lIpht In the for.
c,rn.crchonre market There IN little exnort,ur
~ nro1ncc n 1nnka cychnnrc. cn,1 th. larcc
Euroncnn purchase Of 4 Der cents l,as pronor-
tioro.c,v decreased lin demand for o.r}nnrc.
In f,,,rapo s,crlln, rra,n bills were 4s5 for 90.
Sar b,1,a M, aset< for .icht am, French 1r.rc
s.r,ne ,y % "t m hG15s1f for ,slov hill, Thr sr,,i
T.",1., ra.o. t,r .,.-,try ,rora aa7,< mi asaaS
% " NaS VIZ ~. oetnn; rotcs ,vcrc thc sono . =.
+, c,,tco1o T,c ncatc1 rntcs for stcr1{n,r ,yero
LOO ,,,, IeG,< Franc,, honl.cra, h,1Is ,rora s,7I
Js,ot| @ >a' ~'<S
"'It |,onsn;s ot' r,o-o M I'm
em,.'..ss. ',s.,I,ss, .n.e.. a., au,
~ .,,s'a,,..s ,.,.,, ,to,,,,o, ."s,s.,s,, .s ~
49, ss s' ~ .'. "'' .,,'. .1'. ' ~
.t =, ",.x.".ss ~ .,'s ,.,,".,a. ,,a ,.oaN -.
acs y. ,''.c''' ,"a ~ u. ae,'u' 4as pesw ~.
s.eaas ~ ."'s wv -. .u.se unye ~" losN