, 1879-03-07

NARA 4:oNoilen is gixen taat; w1!sn she onsatan.
rMxscrei ~ shsr,intinns ~ t1,r mr. rsi rnosnIs
tho latter will ho withdrawn from aslu l,ppn Tho
telna P5ehoeea ~ tae ncPaetment e,tyh!Ae or jan
trnct rith i1othsehli,in md nhrrs uf nn .i isTis
The sn,nnnt ot ;,20 pct cent bonsa outstanding
enn enn hn! pfaseu @ n eas 70 ts& nato II ssS w.
nnaer tte csssing circ,ar and co5irsct, al, fntthar
sales Of por cent consols to prnsite for Tho re.
o. e , psn nnai W. 20 naHa
to the purchnssr, nai in nccoraonee With thc NV
propoaals and contFacts. Thls noiicc Is given 70
aa1 ,on Y" XIX r IN 9e crsnr nn of
ltiny have an opnoFtuniy 10 do ~ unsii tue ii.gO
aonos arc cailed' JOHN sisEn"AS. Secretary.
:. Inc meaning OK TINS call Is amply That ba'lKs
tnas "hot 10 eel advantage ot thc ptescnt rntcs
ot commission must hurry IN Their sabserIp-
Aons. Secretary Sherman wss'cs to takc full
advantage Of tho present easy state ot tic loan
market. This Is very favorable 10 sales Of lie
ber cents, but It May he transttory. The rntes
noW allowed wholesale Subscribers arc Il ot |
per cont to those who take 81 ,0C0, ,010, and Ito
Of Der cent additional TO the Il Of pcr cent
TO those who tako $1G,O0O,Du0. Tile law
permits the Secretary ,nnrein of u Of /
per cent Tor selling, and It Is possible that bc-
side the above rates he rnny invc allowed IN OK
ira commission to the one or TWO heaviest SUBJ
sc1lbers. It In not easy to sec What stimulating
effect On The snlo eau hu prod nccd by Secretary
shcrn'nn's threat that lrss favorable rates OF
commission will be allowed nfsrr thc 5-aaDs hare
been refunded. Tie subscriptions llaye been
alrca5y PUSHED apparently an fur rs they could
he. sosne Of tlic subscribers f0r U0o0 200 lute
hare gone 40 fnr as to nilow purchasers from
them the fsl' commission Ut tin Il un.l Ito NJ
per cent. Sales have lecn made IN Chicago to
individual buyers NJ Il aud LII uf PR ccn.ofr.
Al! over tho country st.fewd hanicrs hnye bccn
placing tile bon.,s tn the best 0t
their a!'tIty. As The supply Is, practically.
incxhat'stlblc, 1t Is impossible thMt The pftcc ot
per ccnts slsi''ll rsta aaovo rar. md to cut
down rates Of commission, which dealers already
suls!Islslc 80 infinitely AmonG themselves, can
mt llclp Secretary Shcrmau's rcfundng Enter
prise. .........
""id Is no'ninally quoted at s2'oo ncs $1,000
Tor larco aEoaHts, a:al loti4 for Email lots. but
uac auota''on ~ hoa'i'al AZ there is no dem md.
~ wa3 nn:lc'pasca' The lsfg'' price III foreign
eSsnane' las !ca To 'l,n eh'n'ncnt ot guild
apFoaa' u" nea'y remittance Aas yrt lsen
1"aae' H:'l 0s'ls tioSa Wlto 10 not tHstirc lnvo
1eat com To Enropc. The Ern:ltcatc for tic
sale .! ! per cents abroad has bsen cH!v par
t1al SUCCESS. They layc marketed n suod num-
bcr OF ponds, hat mt enough to offset
those called. THIS has led to heavy demand
'fom TUG l'ond Importers Tor sterling. Our cx-
ports ct Tic su''e tins 1lavo dt::l!ntsei. Last
week they were 35,i53, l55, against So, ,li7,7755
LOT tae corresponding nerloa III ls1o, Slnco
Jan. ], tic total IL s53a against Sjo,59a,
Wy came time last ycar, or t'ce!tao of GU.S Sl5-
1oo III hnc wccRs' 1t Is probably loFtunAtn that
Tue SUBSCRIPTIONS tn thu i-por-ecnts hare begun
10 slacaeh Any more rapid callng Of the f.
pcF'cents, wllsSll arc 70 1nrgcly held In Europe,
might l'a9o !cd to III export of gold that would
seriously Intensity tho possible troubles apprc-
hc'ued IN tilt money MARKET IA a result Of the
l'opd settlements os hcst month. rs It Ia, the
export of gold Is expected to ba light. Sterling
Era!n bills were 4S;}s<,>alrl French bills b20sssz.
1he actltnl Chicago rates for sterling wcre 4SU
md 'l8o. III New York tiss actual rntea ,rera
1stIi4 MD as9A. Tho posted rates for sterling
wcre 4S1 s.rl 400. French baukers' bills wcro
51GH mid 5lS4.
Conao1s were unchanged all day, nt % 7.1B.
The Bank OF EnZ1nnd's weekly Thursday report
shows III it,crease OF bullttn OF r., $40 0J0 ami
proportion Of reserve to liability OF Il 10 rcr
cent. The amount Vi bullion that went into tllu
bank ycstcrday was SOC, 900.
Chicago bankers reported increased country
local supply from shippers, Discounts we,c
moderate. Rates are 0S97 per cunt On call, aud
701lQ per cc.1 OH time, The currency rcrc,nts
,lnd shtpmonts nre small. Bank clrariu.s aro
s3.1O0,O0o.
I'o u, obabto future rates OF intorcst ART ron.
eticred by the Iiauk<,.' -1fagasia<, A few ycara
,go, when speculation was ralnpant. ani rnlc.
ot interest ,ligh, financial writer's III Tin Lou,o,,
Iinps and other l!sh authorities arvuc,l II
great length to prove thRt rate. of intrrrst
could never to low acaln. Nov ,l.st succula.
lion has died out, and ths foo'Ish expenditures
Of The auto panic period hayc oroyca ,hrmsrlvr.
to bs sabtractions. and no. additions, tl,yre /,
pu egually confident yolamc Of preuct,ou tl.ut
interest will never bo high again, Alter ,l,o
t,lubulb .naula IN Holland, the rate Of Interest
fcll to per cent per auaum. Hut il Ild
not stay Tiers. Be!ore 1873 ,!,s world
VA. cxustan. and sansuiur. Nov II is dc.
pressed. Put in financial TERMS times lhrr
were good now tilnrs are bail. II Tic times and
tic Jumper do not change. nil pre- vso.s experience
vii, bs nul!!ac.t. Whas has occurred oc!ora
,naltes 1t ratoual to expect uuotl,er era uf rat..