, 1880-02-02
FINANCE AND TRADE.
The Financial Events Of Last Week
In Chicago.
Tic Produce Markets Stcad[cr, md Tend
Higher.



ch,tngo, scnt tho country last week about IA
iueh carroncy rs it received. hnd did not send
ny to Now York. New York exchange sold be-
wccu tho bnnks nit the week belov tho cost OF
hpp!ng CURRENCY To Now York, mud rs tho entl
T tho week npptoachei dropped to par on nc
bunt Of snlcs by blllks which wished To ncclf-
phntol currency for tho settlements OF tho lirst
Gtho munth. Tho 1atcst snles werc at &c per
n,UOprcmlu,u. Tho hoard Of 1rnde requirements
Or loans Increased f0r tho snmo reason,
ut were not rs henvy as Inst month. In
general, tho tenluncy OF tho money mar
:ct hNs been toward creator cnse. Rates hAro
cn,tncd GlD7 per cent oh tho street md 1@S per
,cnt Mt tho hnnks. The expectations Of great
ease III tho money market this yenr tape not
yet bean fulfilled either In Now York or Chcagos
and aolue OF onr llnAnciurs do not believe that
money will bo far yoars ns cheap MS 1t bus been
since 1874. An enormoilB nmount Of capital is
gn!i,g Into railroad building, new irun mills, min
tnK, und nll sorts OF enterprises. md tho lnnne-
thry e,sa that comes from stnEnatton of Industry
Is net likely to bu seen soon In tho fut,lro Chi
cnXo cearIuga continue to show great increase
Of business, and Inst week wero &a5100,0W.
ngtins. S17,lO0 coo for the corresponding week OF
last year. Dealings In Government bonds nnl
local securities havo boon active, md trsansnc-
tlons on tho Chicago Mining Doard havo been
fair In nmount. On this subject tho Inst hi1n-
bcr al tho Chicago Mtntng Rcufelo ssys the large
number Of new mining companies org1ant2ed
here, und tho increasing list OF companies
forrncl In other States, that aro now opening
brunch offices In Chlcugo, Is at item worthy Ut
rneutiot, showing, as 1t does, the Important po.
sltlon TINT Chtcago has gained as II favorable
ccntru fur the transaction Of mining business.
We hhvc every reason to believe, from present
Indications that this business hero Ia destined to
grow to lnrgu proportions during tho present
yc,,r, as It ntrcady shows signs Of more than
usunl activity.
II, explanation OF the speculation in tho KIM
sns & Tcxus bonls md stocks, tho Herald snys
II Ia considered certain that the buck Interest OF
10H per cont duo on the iirst mortgages will DO
paI.l oil Feb l. This would bring tho market
prico Of these bonds to about 90, which ls
certainly reasonable for q flrst-class per cunt
security.
~ strung movement 1as begun among Eastorn
merchants for tho enactment OF new National
bankrupt law,
Tie President Of tho Now York Produce Ex-
chnnge hns received report Of tho Committees
OF tho New England Shoe md LcAther Assocta-
tto1l, 1loston Merchants Association, and Boston
Groccrs' Association on the formation OF 4 Ma
tionnl bankrupt law, based on that of 1867. Tho
report suggests that thoro shall bo ns many 1cgls-
tors appointed as tnny be thought practicable
by tho District Judge, who shall receive salaries,
with Office expenses. 1t also provides for clerks
of tho bankruptcy Court, with Axed salaries
ntll af[ce expenses. to be pnll by tho Govcrn-
1uent; Creditors Committee OF Direction, With
such compensation as Il 1nujority OF tho cretl-
itors shall authorize; Supervisors and Asssgnccs
tn hc con,nrns,tc, wIthu,t fccs,
~, 1iu,fmI stntos G,nns,,i NJ nn,rost 1rn,ona.
Luz on'leo o1.ee ooo7u ~ t'eti.'t' A''il'44.
reports that IN DeEfast thorc ms becn a grcat
dcal Of money uRde III Amcrlcnn securities,
md thrv will continue rreat fayortts with local
tnvootors trho nortI ~ 1rolonI holds ,,nro
~ 49," 1s,,' s.| W - 1 $500 '
philadelphia NeadinK securities thGn Aly
QklDE r1Et Ut lilo UnktNu hlUxuUlH.
tT,. fontI,r Er3uuI1u J3tr1r H. In mn ahtn air.
i'm.
wy - tIo FtsaSt. - -. t.Mss MsttS ~ t..1I
si snmsi thn - | Ti,,tts,S Utnfna anrs 1n,, - f ~ ~
IErnIn Mnrrhr4tnr WI jnnrn Tint II lnrgo In,s1.
800 H. n.tI ,,oa ,,rn i"at ,rah ~ ~ w