, 1879-07-17
FINANCE AND TRADE.
Governments Steady --~ For
~ eign Exchange Lower.
The Currency Movement-.~locaI
Securities..-Stocks.
Tho rrsdnte Markets less Atttre.~ProIitIcns
rirmer..NtaIs in Goea Shipping
Demand.
Grain Weakened by fine Weather.
Flour Active.

Flour Active.
Elm MANILA"
,,.,.
Government ooo"a "ese htea"s' ,e..4 sn'eSy
dco'nfa wcre buying a. lol los e'.'A, 'oo' 1,,IHa
1ea for large amounts "''a se''!''s ~ io.Sa4
1d1A. In the afternoon ,ne p,,ee ~ .,,s ~ ~"
ork adFnaccu lfo1l Io'}h ~ ~. Ne'o""N''
certificates SELDOM maze .1e'e nppea'A"ee' Wv
occasionally a country oat,k eeno' III so'ao, ~
eonVerston INTO pef cents' iuete @ WIZ ~ w
vance IN the 's 20 to'2a w "na Io1a e. aa".s
The fluctuations o. 'ns ''st p'ofe .uat ]"e eou.~
TT banks hoo'ng 4o"aos Us security ~. III. e1ea'a
lion are not feplaeshe u's'. boey "'tu ~.
ccnte, but afe ouy'ng a'c o''et ooa.'o' se"e "
which, ike tho enttencs o7' & pa, ouss' ,,a . 1s ~.
81 1n, n1 sc eear e',rreney s Ss Is to The
.ie.saA' oep ni...,.. ~ Co,,,x.,,so .of,,n,,,n,.
BONDS. s401, 300 at aol 1-1G, ant, $4,7oo at 1o5.
Foreign exchange was wcak, with small
supply OF bills. In Chicago stef]hlh ErAAn-p'4s
wcrn 4S3h for stx,y-daY bills, and 1861 for
49,. ~ r.,,h ,.oSo 6oa1< for s.ytvt,ay bills.
aud ID: ssosS M for seht. The aetual Chicago rasos
n, atcriinr wera 485lfGf4S5ix mud iS714. In
~ o.. =. T..;:r.:.e.% ~, 1oEt< uni ls11<.
Tho posted rites Tor sterling were IS6}S94SS}>a1.
rror,h 13.nrarei hills wern ji7l&Gttl5.
'cS| - ,s..s1 ~ =, ~ 1t1G fY,a Tnn.
CoHeo'h aoFauceu %. " ~ ~.
don Tina Of 'ul5 fep"tes luz '"s ,'. e"oo
tho money marKet erow'ns SUCH ',s .,' "'ssns ,1t.a
brokers afc seriously eo"H'oesnI s.'," ~ aa',,.'
btlty ot reducing taels a'omaaess ~. 1ss, s"xr
Ad7lces from LUG 14ot lopns Nv ..o' .s,.. ,,s',,. ~.
tiGht III talna anu 1h1a'' tAo tAeo" e, ~. ~ -
bch a. from 10 peF cen. 10 40 pe' .su "ts ...,a
stated 70 DC o"ihe " 'no ua'''ss ."s
ELK LOT hfener pt'ccs' ha'ho ""' S.,.s
been obtained on tn1s nts'c'o ifo"! w ~.
and native oanRs, aun u'e e'''no tun'E 10 ',E ~
dono Httn foa. a l'Ko couFse "ae pu'eue" -
the holders Of these ost'eles III Ao'o, ~ nnsn 14o
xate OF inte1eet 1850 Us hKn rs ~ NM ~ ss''s
per annum. The Lonaon Eeo"oH' ~ ~ oe"'''
ehnn.l review Of Inc sta'e VI 'fa'4e' eA'A
six nonshl q 'S t.*flse have nnM " P Phs 1nrc1n1
theraetNe of nsineas snro tn, Ss1n,cncoinent Of
lila rear. Money IL. Rcnerslly spcnkng. extreme
pnt tnis 1Fo'! % 10y schs nsuant ~
shnrf time sIsee la prorod utterly hollow.
Mone5 tho rateA quoted In or city article show
aoo ve9 az nt,rGocs ~ il haer in tbe mnin
on tj,o rame grounds which canao own market
to he nooded with waas fos tae o. moment, cannot nm
VEL % % stb ePb'GSn Sat on ihs ron;sr,, Of :hc ab.
Fence Of that business activity which leads TO
wealth. u,..u,, c.,r, ~, ~
~ ta"nstino .1tcnds rsne,aiiy oye1 uropc and
a. .his state of matters i general II mar bs c1-
pecsea to last the 'oueef. ....
Orders from tho COUNTRY Tor currency arc nos
80 freely rcrriycd by the Chicago banks, but tho
shipment Of femsttauccs 10 New York on coun-
tsr account continues heavy. Discounts are
moderate at 4@d rcs ccnt on CALI and 7efs per
cent On time. Bank clcaElngs wrrc $3'so'Uo.
Il anrytrfHtnr dfHh1tttt OF 1HnDf6UCC about lilo
new Interest 1aw Of n'e State ~ .lspiascd W
by their e,1sthmsrs to 'liscount notes bearing 10
ncr crnt Interest, taken by city merchants from
roun,ry tu,vcra, The owners Of The notcs cx.
The Inherent law such contracts ate not good.
Tho.s m invalid notes i,avs to ba returned to the
makers for alienation. The point haa been rails
ol whether tne pFotn'1e' cau'oa n'u&en f7au.o .l.
the rata of lptefo6t from " INF ceet VIII
out taking the trouble to send thc nota back to
the maker. 10 do so amounts to Cancellation ca Of
the note. II takes two 10 ma>e oafealn'
The country b"uks, no 1caru, mo still charging,
PCT ceus Iee''to'ee' =. - :" ~S pos',
-"tton T. that st: r,onet is*oFth III per cent ant
49,. sss,'. 49, ,,,t H., ctv honLs foo1 th.,r-
tUo oA "'o law. ~ w. 49, s" '~S' t'oin'
se'ses .haes uussn ~ o'.s "e .-"'' "no aso
eon'p'f'na' '"lat t"s W." VIZ "'3s"1' "N'0s IN
1eres.' ,, ,
ING Lneo'n ih.A ~ no'n.asss'onsts a.1 100 tan
rifst Naloha' ,, nalk siot'oVo pea ecHt i-l"eo1n
1ath poa1s aI,4ooo. 1'Ioo -, 1o"ue luu 'rfon'
teeh years. Nneeo - s.uAns .nta u peF
esos ~ 'uP u's'o. - rs's. . Soas',ooele. C"'4..
1nefo "cfe S0c" u 1oo"s ~oa"'s pe'
eenss ~. ~ y.
'a',s'N afs0' - ~. w. ~ .au. ap ~ ~, ~