, 1879-08-22
Government Bonds Lower--'
Stocks Dull nnd Fiuct-
- untfng.
The Produce Markets Moderately Aotivo
IAN Advance in Wheat and Ryo
Other Grain Steady.
An Early Decline In Provasfons..-Au
tho Markets Close Stronger.
FINANCIAL.

1ul4 asked tu New YORK, Atti3 lul116 AsRed IN
Chicago. Trausacttonh were not 1argc, but
dealers report stcady absorption OF IA by tho
public In small amounts. Soma considerable
purchases Of the Is were made In New York by
Chicago dealers at the decline, md the tendency
of Western Investors md bankers IL to buy ut
each break. The accounts given at The Now
York Sub-Trcasury and tho Treasury at Wash
tngton about the amount still duo tho Govern
n1ent from the Syndicate do not agree. At tho
Now York Suh-Trca1ury It IL clafmcd thnt but
314, LOO, COO are due tho Government on account
Of tho per cent nc0ottaton, and that tlls
amount 10 divided between two banks.
Our Washington correspondent, who has tho
best facilities for eating Information, re-
iterntcs his abatement Of few dnys ago TINT
the Syndicate esIlt owes tho Government sl5,-
100000. a London dispatch, Of yesterday snys
that there is n good Investment demand In Lon
don for the a.. and tlat the 4s aro being sold III
largo amounts for shipment to this country in
place Of Gold. Foreign exchange vas dull, with
no variation In ratcs, Posted rates for sterling
were 4821{@A84t3. Actual transactions In chi
caEo wero at 481 and 4s3L4 and in New York
were at 4S1A and 1875. Sterling grim bills
vera 416 and 481. French grain bills we're 5os1s5,
unl French bankers bills were 52315 anu 5s0e6.
Sterling rates aro considerably lover now
thau At this time last year. Bankers In chicago
arc paying only 476e4 for sterling graIn bills,
whiIo in the middle Of last August the price
WAS 4S1H. It was not until September Of lasE
year that commercial bills went tiowr to thcls
present figure. The autumn supply Of bills Is
lnsgcr and earlier this ycnr ttan last. Another
interesting fnrt Is that guild has been ordered
tll!s fall from abroad ut higher rate OF ex-
change thnn usual. The margin In fnyor Of the
operation Inns been unusually small. This
Is due TO the npprchensons OF mone-
tarY Rtrngency, which has led to the
Importation of IarHu sums Of gold to meet tic
demand in Now York for money. This Is ons
Of tic visible results Of spcele.srsu!nptton. II
puts the moncy-market OF this country In eucll
tntimnte connection with that OF Europe that at
tho first sign Of our ncod their money comes to
us. Exports Of domestic pruducu continue
liberal, though the total since Jan. 1 Is not
equal to Inst year'a business. Tin total at
New York for last week WIS e7, ,o622, 3i5 against
S6.378, 10 the corresponding week OF Inst rear.
Their aggregate sncc Jim. I, however, fs but
890l ,703 against $2t9. 36e, $50 In 1873, n,ll
$180, ,7255to during 1877. 1u 1876 they were
fttl lower, being s16o, ,e73, 600 for the same
period a. abovc. Tic Imports since jan. arc
0,000 moro in 1870 than in 1873,
Not 1tss' than s9,000, coo Of gold, In co!n md
bullion, arc en- route to New York. In estimat-
luE tic probab1o COURSE Ut the inoncy market,
It must Ia remembered that tte current Of gold
this way has aet In thus cnrly on tho exports of
brcaflstuffs. The export OF cottnn has yet to
begin, anl will add great deal to tho force Of
tho American demands on Europe for gold.
Conso1s advanced 10 VI 1916. 1'hc Bank OF
England lost $1o0u00 In bullion during tho past
week, md NOW has rcscrve OF IS Tic pcr cent
OK its liabilities. The London EcouoMfst notes
somo Rlgus Of improvement In tl'o business
situation IN England, but It ia necessary 10
view these with the utnost caution, ID similar
signs previously havn been followed By no SUBJ
staut.al revival.
Chicago bunk c1eartngs were $4,000 QUO. Cur
roncs shipments to the Interior arc steady, and
currency Is received every t1aY from New York.
Discounts arc dull NTH rites ut ago per cent
on calf, aud 1Gl8 per cent On time.
Some Cook County 6s sold ut l01. Oilers
were mndo to sell Cook 5s at 100, sol,er Tho
year. Thu fee!n. Of local lca!crs is almost
without execution In !ayor uE lower prices for
all descriptions ot city md county bonds The
Cry Of Troy, n. T., las sold s100cCN t per
ccnts ut loa.15. Cook County IS md Chicago
West Town b arc now selling IN the market at
101.
;" "e'enl"e 1ae eiteet OF 'he lfoashr} opara-
tlsns :,s Il rte in tic noncY market, 1t must
bc rcmstnl crel TINT they nslouut almply to IN
s1s"a''sc u pef eehta 'o' pef eohts. lle
Syndicate banks arc uctlng only us tntcrn,c.
.4'as'ss !" ''ua'ne tnc t9a''c' i!ls' ioscrnfncnt
Is 1'estses aao'o1 10 the loan market nor taking
away from It. 1t Ia refunli,. al 10 wer rate of
.o.ctes1' Az Only one point aoee the 1'lan o1
tn's aeaeme .los WORE Win porsact smoothncsa:
~i '"e ealea bonus ilase not nesh scns IN Tor
teaempl'ou ny tne hosaess' II the syndicate
naa .a popua 'tssi to pay inc Hovesnmeut 1or al'
'Ag Vs. "netncr OF NOT aii uas *a'led honaa
nao eone 'n' 1ncs fH'9nt % compelled
r. 70 ausanee . 1asee sum temporarily. but
so'e po'n. "as hl'y c"'oscd W the
agreement between 'hs Treasury mud the Syn
a'sate, Iha1 the la.tef 8nousa oe sal'ea upon fur
money oh'5 80 iast as II ras needed ~ the
iormeF to pay tue ca!'ed bop's. Under this
plan. Whatever moneYls taKcn out o1 lilo money
market BY thu uoscFtlnont: 'a Ut oaee sent buck,
There ts no posalblo way In which the rrfundsns
Nf1nh &FrIf1n nlf1 ${HkF