, 1879-04-29
The 4 Per Cents lIigl,er"'-Foreign
Exchange Dull.
Activity in Chicago Discounts.--The
Stock Market Weak.
The Produce Markets Active anl Strong
er---Drendstuirs Moving Freely.
An Important Advance in Provisions and
Grain---But They Close Easier.


domard whs sharp. A great many purchases
arc being made to escape taxation May ]. The
bonds will bt held ovcr till after that date, aid
then sold again. KefunslinE certificates aro sell.
Ing rapidly Mt the Chicago Sub-Trcaiury. The
purchasers arc main'y brokers u.ul bankers. fEic
only Change In price was tho alvancn In per
ccnts to 101 1e6 BID md 1o2 asked. Tie local sup
ply Is bclng rapidly disposed Of.
There wns only mcaarc supply of foreign ox-
clapgo bills in tho Chicago market. Hero
sterling grain bills wcro 4sa, md Froncll were
stro,g at 520G153lA. The actual Chicago rites
for sterling were 4sJ anl 4S711. III New York
the actual rates we're 1856 au'l 4s7,l. Tho posted
rates for sterling wcrc 4s7 mud lsS>6. French
bankcrs' bills woro 5l75f and bt5.
Consols opcnctl at 03 Off, aud advanced ut
the coso to 0S 1910. Tic Bank of England
gained S2}o, ,o0v Iii bullion. The London cosre-
spondcnt of tic Financial and Commercial |
Chronicle describes the situation thcro;
The Directors OF the Bank Of England hare 70.
hucca their rate Of discount to , per cent. and |
thero seerns to he much reason to believe that II /
NOR months. Tic tone Of business haa Of lafc |
somewhat improved. and there Inns hecn Il slight |
Eocoycry Il prices; 6us tbs change has beun nsuh-
ctcnt to influence tho money market. which has |
ii every quarter iloro arc compIsinty Of thu
saino tine. tao amounts ror s"'i Witch Ss arc as
drawn havn hetn very much rcdrccd Of late
ye,ns S%s ony t9 fesrs!ea trade 0n s!so
of tho year. Our imports vii fall on. especially
likely to enter Into elaborate calculations mill
something lchnlto IL known in regard to the ro-
snlt. Of taa ne1t crops Thronehors tts summer
extremely quiet, but shonid tlo wcuttur remain
favorable for thu growing crops, we may hops tint
prevail 1t rs alt0 posable that before Tho autumn
,ras tS ASnan s a1 Xnu wars M
ton Will bo more satisfactory.
Discount rites hare advanced sharply In .lle
CbIeago market, In consequence OF hcavy de-
nlnnd from thu Board Of Trade. Some very
]Nr1c call loans were inado at : per curt Tho
current time ratc Is 7Q93 pcr cent With some
s'null transactions at 8(110 per cent, Now York
exchange wns sold freely between banks. Cur
rcncy order5 from the country wero sr,.all. For
the moment the movement Of currency to New
York Is arrested. Bank clcarjngs ,sere S3,0O0,-
000.
Local securities aro quiet. Cook County &
per cents wcro sold ut par and Interest, 100L
and interest, md one stnn!l lot at 101 aud jn-
terest.
Stocks were weak and Irregular. Tire tak Of
tic street Is bulltsl,, aud there are grent many
Chicago operators on the long side Of tic n,ur-
kGt; but prices bear out this view III only cxccp-
tlonal cases. Kausas Pacific was one OF these.
It opened at 4711, advanced to 51, md closed Mt
0,15. Tho point was given ont III Wail street
early In thu day that Kansas City s. Northern
was to DO put up. Tho t,ont was well taken,
as was shown by gain for tho common Of to
131S, and for tho preferred Of ~ to J01. Ttero
is good authority for snyIng thai t1ie marty that
wero carrying St. Joc whou the Southwestern