, 1879-06-18
Tho Four Per Cents Weak.--Foroign
Exchange Inactive.
Chicago Discoltnts---4l New Local
Sccurity---Stoclks.
The Produce Markets Rathor Active, and
8tronger---An Advance ID
Provisions.
Eheat and osfa In Boiler Dtmnnd-..Cern Eas1...
Stotks Of Grain In Store.



bid. u Oh tho previous day. transactions were
on that quotation ttIl the afternoon, wl1cu there
WIS decline to 10cM bid III New York, vb,ch
carrlc1 the Chicago rate down to t093SG9l l0aix6.
business was reported fair. There Ia good
dctnaud for bonds. Kcfundng ccrt!acatcs wcro
more freely offered. Tho price bid was 102.22a{,
which was offered for QUO lot Of ta00,0oU. In
tho afternoon the rase vas 10214. The Us wero
1u7A bid: tho IS, 1o31l1; and the 41Gs, 1o51sl.
The foreign exchange market was steady,
without large offerings Of bills. In Chicago
sterling gran-hiils wrrs 4a57{ for sIxty-day bills
and 481t1 for sight; and French wero 520tllla NJ
for s'Kty-daJ bills, and CITY for sight. The
actual Chicago ratcs for sterling werc 4s711{ and
1904. In New York tic acsunl rates wcrc 4s7lf
@4s7X md 4s9ts4. Thu posted ratcs for atcr-
ling woto 4ss@4oo. French bankers bills rcro
5f5@5111{.
Consols opened at 81 1.18 a,,tl advanced to
Wa-l6. sver was quoted NJ 5atf punco per
ounce in London. The TINES OF June s says:
In tho market for refined bar silver the position
n as bHoyaat and strong oves md The result
Of sosne nportan. trsn-acions tie price dnrine the
day advanced ~ to ~ PEI st!nes above ths bs.t
large Of silver Avc been boarded 10 fos .o,no
night holders hayo parted wlth ' eonsiGeraio itG'
amonnts. 1t IA also reported that those who
wsSs 70 sgo svo s:r to
eoans d!s, been aiosoa aea S friss roa
uounced intention Of onuring n,oru bills om inilia
next week Will not. II IL thought, have any effect
se S n sas
opinions seem to lead 10 pretty general cxpee,a-
tim that tho Europcau silk crop viii DO not only
all tho more directed to tho probable progress and
result Of thu Chincso and Japanese crops In thcso
coined Silver, snd trantscto1s bayo occMrsed to- to-.
day At baad, wh!o at the close Esd was even Elyen
- m actual buaEnehs ratio in some EunrtefA.
Currency 's still going from this clty to tho
country, though the receipts from Nav YORK.
have ceased. Discouuts arc moro actiye now
than It NUS expected thirty days ago they would
be, but the present tendency Of discount lines Is
downward. Rates arc 5@0 per cent, with traus-
actions On Government bonds as per cent.
Time loans arc f9s md N@10 per cent. The
bank clearfngs were 81, 600, COO.
A new local security will soon mike its np-
pearauca IN the market The West Chicago
Park Commissioners hayo sold to Mr., Cbarics
Henrottn tho $500, ,0m Of bonds authorized by
the act Of May 81, 1870, to be lssued to them BY
tho Town Of West Chicago July next. These
arc pcr cent bonds, running twenty years, With
interest payable Bemt-annually. The proceeds
Of the bonds are to be applied to the funding
Of outstanding Indebtedness, which now dgavs
8 per cent interest Tho price paid wns par.
THIS successful negotiation saycs lhe WeatT Town
5000 year In interest," Tho rate of lntercst
secured Ia per cent lower thun that obtained by
the South fark Commissioners on tho 81 ,U10, ,O00
per cent honda tlicy recently Issued.
Chicago Is OF 1893 were sold between dealers
at lis and interest. Tie Is Of 1902 are quoted
at 113h and interest bid,
There was only ons stock Ia tho active list
that closed at an advance on tic opening price.
This honorable exception vas c., c., c. & r..
which went up e, from 40I TO 4oX, Every
other stock was stationary, Or, as was the caso
with most at them, declined. 1t was Waterloo
day for good manT weak operators, uho went
into tho market before tho break on The theory
that the riso was going to last forever. 1t was
especially severe on some shorts, who Ind but
just recantel their bcar bcre.lcs, ului ind cons
long. Tho market WIS raIded repeatedly during
tho day by some powerful, cl!qucs. THIS circun.
stance, combined with The fact thut 'spolnts ),
u buy had been circulated u.]ustrlously from
New York tho paas tno or three daya led .uany
to infer, that the break vas a nanIpulation.
Those who wcro long Of stocks, aud 1t the
samo time long enough Of purse 10 Inarctn
against the decline, comforlct tl,emselres with
the thought that this squccze would nuke the
market ho!ld md healthy. Tho shorts wero
happy, and, llkc Dick Ueadtye, Sang, ~ told
sou 30, told you co." The market has bcen
IN bad condition for sotns time. A rrext
many weak operators we're long. Tie aIkuatlon
Was much like that which preceded the brenk Of
January. Acood naanY margins will be ninett ont
by this break, and stocks will pass oCaIu tuto
strong hands. Il great deal Of rcAl!zI1i, ID von.
on all tue time. Those who layo profits In