, 1879-07-20
The Chicago Banks---Actiyity in
T. the Stock Market.
Tho Prednee Markets Acti9e:--ln Early fsnit in
hhtat"'-l Subsequent Rally--.fht Et&ue.
~.. feai Probably Closed.
Other Grain and Provisions Steadier---
Hogs Dull--Mo7ement Of Produce
=. for the Week.


] The per cents recorded another improve
men in prices. The demand for them is good
in New York, Chicago and other points In this
country, as we'll as abroad. The price advanced
here to 1O314 bid and 10211S asked for the As.
The Gs OF 1851 were 1o4sz. and 1855, the IS
1o413S and 1o42ss5, the 415s 1868 and 1854, and
| the currency 6s 1o24.
Foreign exchange was weaker again. The
supply OF bills continues large. In Chicago
sterling grainbills we're 1924 for stxtyday bills,
and 4S4sI for sight; and French were 523N for
@aixty day bulls, and 52056 for sight. The actual
Chicago rates for sterling we're -4s4N@4s5 and
4S6N@4S7. In New York the actual rates we're
ass and 4s7. The posted rates for sterling were
4S5@4Ss. French bankers bills we're $3.50
5155z.
Conso]s opened at 81 1916, and advanced r.,
to 07 1916 The London Times OF July sees
no sig1s of cheer in the industrial and COM
mercial outlook. While prospect OF cheap
foreign food. 1t says, insures the masses Of the
population against the prfvatton and suffering
which, in similar circumstances would probably
hare orertaken them some thirty or fortT years
ago, the general depression, and that of agr-
culture in particular, appears to weigh SO
hesyify upon consumers that manufacturers Of
fer their goods one season after the other with
out meeting with any response even at contin-
ually declining prices. An unprecedented sup
ply OF cheap money exercises no effect where
the power OF buying commodities is not at the
disposal OF those who require to exercise it. In
such circumstances Us these there is nothing to
do but to wait until fresh accumulation Of
savings is available to give life to new epter-
priscs.
Silver at London declined 1-16, to 51556 pence
per ounce. According to the San Francisco
Stoek Report, the year 1870 will show great
falling off in gold and silver production COM
pared with last year. Last year the total was
$a5 600 900, and it is thought it will not exceed
$65, 600 this year. The difference will be
greater in silver than in gold, owing principally
to the lessened produced trom the Comstock.
The bullion from the Constock mines Is about
one-half gold, but the difference in the product
Of thismeta, owing to the decreased product OF
the great lode, will he partly, II not entirely,
made IN by the product Of Bodie district, in
which the ores arc principally gold bear
Ing, carrying some silver but mol
enough to materially affect the gross
product for the year. As to silver, there
is do district or aggregation OF districts that is
producing quantity sufficiently large to make
10 for the loss O; the yield that has character
ICED the Cornstock in past years, and OF the
$40 00D 900 difference between 1878 and 1879, the
greater portion must be iu silver This decrease
is to be met by an increased demand from
Russia AMI Spain, and the natural and continu-
Gus demand for Oriental trade will tend to de-
ulete the stock Of silver to an extent that must
necessarily enhance the price Of the metal.
Country orders on the Chicago banks for cur
rency were tighter, but those for New York c1-
change were heavy. The demand for discount
Is better than usual at this season. Rates are
4@6 per cent on call, and 7G1s per cent Oh time.
The c1earngs oil the Chicago banks for the
week are reported Us follows by Manager D. r.
Hale, Of the Chicago Clearing House: