, 1879-01-03
The Government Pays 80 3.4 Cents on
the Dollar In Chicago.
Foreign Exchange --- Discounts,
BtocIss, and Bonds.
The Produce Markets Moderately Active
.--ProrisEons Easter, but
Close Firm.
Breadstulrs Rather Weak, with Large De-
li7aries in Wheat and Corn.



Grecnbaess wers ut discount Of v Of 1 per cent
In Chicago. In New York they were At par with
gold. Thcre was light demand from the country
banks fnr gold. ..
The Government took Z stcu backward In Chi
caRo yesterday In tho resumption Of specie pay
mems. On Monday coin checks given BY tho
Treasury In payment Of tniercae on registered
bonds werc paid nj the Chicago Snh.Trtaaufy in
gold. Yesterday The Snb.rrtnsnry refused 10 pay
cU'n on coin checks for the interest on tbs per
cer.s. although the checks are ia express terms
made payable at Chicago In coin. The coin
Cheess pald here in gold on Monday were coin
cheeks on New York. but those on which coin
Vas refused yesterday state that they are payable
In com At ChicsRo we'll - Ssw York. In other
worus, Secretary Sherman paid gold obligations in
Chicago With grttn6acls worth only 90A cents In
sold. To buy 81, 600 10 gold In Ch!cago cost Jes-
teEdoy u, 0o2. 80 10 gsccnbacks Every recipient
OF Government interest In Chicago loses BY this
action Of the Government E2. so per 81. 600. In
one case Of 81, GOO paid 1t the sub-Treasury the
loss WAS 81. 20. This IL = snat matter a. far as
the Amouns II concerned, but thers il something
bcsides the amount Involved. The Resumption
law authorizes the Sectstary Of The TfeAsnFy 10
dce, The greenbacks In Nav York only, bnt 1t does
not authorize him to pay out q deprecated
paper currency for obligations made nts-
t!nctly paynble here In coin. It Is
Sufficiently Jlsadvsnn1eous 10 Chicago and
the West That ths Resumption isw provides for
resumption only At New York. II IL unnecessary.
and no doubt Illegal, for The Treasury Department
10 30 beyond the law. and pay In deprecated paper
obligations payable in chlcago In coin. 1t Is rty
fer the looks OF The thing, TINT the payment Of
Government coin obligation at 904 cents on tho
dol'ur shon!d have frat occurred the frt day OF
the resumption Of specie payments.
Government bonds wero active for the nav Issues.
The 4.ss advanced Y. TO lo4h, the new t. OF lHh1
were loUA. and the 10.4os remained at 10s.
The tntcst circalar ffom the Treasury Depart
ment obuut the commissions to he paid purchasers
Of I per cents makes = determination aRanst the
po0r In 1avot Of the rlch against small buyers 10
favor of heavy buyers. Up to this lime al pur-
clascsn Of the per cents have been allowed dta-
count of OF ] pcr cent This was At ttst con.
teeu only 10 purchasers Of large amounts, but was
Nrulty given to ALL The now circular MAKES no
concession to subscribers who want to inyest their
own savings 10 Government oond, but bankers
who subscribe by the million get Il OF PER cent GU.
Transactions III foreign e1chunea were ptincl.
pally In grnin BILLS drawn against shtpmcnts OF
whent 10 France through English honses. ster.
ling grain and provision bills were 40 In cur.
1cncJ. French commercial bills were 69ax In
gold. For R.cslng bankers hilts the actual rites
wore dBll4s1A and 480H.
Conso1s were 03 all DAY, The Hank OF EnR1and
during tue week gained ~ 18s, 600 in bullion, and
hcld it's proportion Of reserve to liability at gaT.l0
per cent. The Hank Of France was affected BY
The export Of specie 10 England to tbs ex.
tent OF losing SO, 900, O00 OF spece.. Ad-
vices to the London Timer from Stockholm state
another aru,, !. I1tssch, bat satled With T. Oa GOO
crownp liabilities, ihe difficulties having. arisen
through tne fall In the price Of Iron, aud also from
Improbable opera.t0ns iu building and land The
aAsels arc reported 10 be auntceut bnt this in con.
sidcred doubtful. Ths trrns which hnve iatel~
failed Believed 10 have bccn kept going by tho
banks long after they should have Enuc Into lInul-
4 haiti fzIfY1 H..
nuw, but IL II feared that ths bank managers there
have baen no Wiser than In other parts Of Europe,
and bold too many securities and loo small pro.
portion Of liquid capital
Tic Chicago bauks had busy day. CloaruTs
werr large, 81, 400, COO, mainly on account OF
Board Of Trade settlements, and the Ramo rausn
affected the demand for discounts. Rates we're y
Q1o pot cent for time losns, and COZ per cent for
call 'osns. Tho cnrrcncy movement was In isvor
uf tho ctr, and therv were liberal scmitaueos OF
aIchangu TO New York to meet obligations matus.
ing On ths 4tA lnst.
Tha brokers arc paying 1o2H for Lincoln Park
boslda. There wnsa sale Of West Iark bonds at
a1,&. Thcro IA act!vc demand for Ill claasss Of
local securities. West DvisIon RAILWAY per cent
certificates have advanced to 1Ot and Interest lld
nnu Jos aud interest aslet.
Tho stock market opened drm At thu closing
prcrs Of Tuesday, and advanced sbout II DER cent,
Ksalttations then began On tbs Northwest mud
.han stcady It'll noon. The coal stocks wsre ospe-
emily buoyons. Lackswunua advancing 10 ~ and
Delaware Il Hudson to 40, with free bnyess. Ohio
Missssppi.s 70 long neglected. came to The trout,
nader orders 10 buy, and advanced to 84. Sales
10 icallxc the advance continuing, prices oeclIncd
during tho aftaFu1on. mud leicRsatpA reported the
market a. dull and droopIng.
Northwest goltl bonds wore 1O3T, and St, paul
slnkin. funds oHaf, OK. interest.
1talsruaA bnhis In New York on Tuesday were
active. ana reeor1cd higher prices. Eric l. Pitts.
burg foutshs rosa from AeH to O.. New York EIa-
ya,cd ustls from, loai to l0itl, Illinois eou.h-
crn lows Gr4fs, e1.couron, from SO to nl6tUOM.
Wabash fFsts. ax.cnHpun, from LOT 10 lO7A; do,
c4nscrilh'es, *x.coupan. from 10 TO GU; Alton
! Terre llAuta aecon1s preferred, frum bh
10 S0; Canada Southern nxts from 7HH to
TN; Michigan soathera Sinking Funds from iOp
10 40; Bloomington / Western hnts frntn M; to
3".i; 1t. Paul nrsts. l. and n. Diytslop. tfom loo
10 lo9. St. Paul ars,s. LaCroass Division. I'd.
1anctd 10 110; do consolidated sinking funta to
1o4'i; KansAs i Tcxus nssts to hls;; Ilanuihal q
1t. Joseph is TO 1Oli; New Leesey Centrul cor.
sols 10 72i<; Lake shore dividends to lln;; do
coupon seconds to 10aA; aud Wrstern Paeicca to
lo5a. De1awar1. Lacsawpnna / Western Sec
opus declined fsum l0u 10 1856.
ssockho'dcTt' pptous 10 tako at par tue lie.
stock Of Tie Chicago. burlington + Quincy wers
ceiling st o..
Alton imports for the third week VT peesu,bcr
lnrseasets earnings o! yas. 7k1.
Tl'a Comptroller Of tho currency hss issued ths
following stAtsmsnt showing the iaaas and retire.
mcnt or SatoDal-baak notes and lrgsl.tsnder
notes, under tho arts Of Juns "a, 1874, and Jan.
II. 1875, to Jan. I, 1870:
Satvnxl.bhnk notes outstanding vhau art
f jAEe =. 1s14. pAtsed &S4N e0A ia1
Nttu.4Al' bunk nuI<. Issued fFupl
june ~ 1d1A. ta .fah. "a, Is. a. T3LAU
Ahtloh0l G&uk notes fes1x Htlcl
kEd reliTxd Lei. s4nQ d6txN,,. z 7t7 HE1
lncsrstx fre,u Juus "a ls7A
iytan II. !b7a.......,,., 1st7 z6s
National hank noss ouutsnt.nf jan. IL
y, " ~ sal. 4ao
snd Ertisst from Jso. IL, rs,
t1Latt.. .,nkTl. TI4
NAlluuA1' hank notes surrender.
Sd GetNeeu h4ul1 d3tt& .,,,,. 10, t1atr trf1
T4tei Is3sstned sad ourfsu.
setstL ~. .sH. 3lS