Click image to open full size in new tab
Article Text
Possible Bull Movement in Stocks-Black Hills Gold. The Produce Markets Moderately Active and Irregular---Provisions Again Weak. Wheat and Barley Stronger-Corn Love Other Breadstuffs Steady. FINANCIAL The new business that comes to the banks to not heavy, The supply of Board of Trade paper is much less than last month, although some is brought forward every day. The morcaulite ap. plications for loans are not numerous, bnt are more frequent than in February The banks. as rule, report their discount lines tolerably well filled, with, however, sufficient funds at their dis posal to handle whatever first-class paper is of fered. Rates of discount are 8@10 per cent at the banks to regular customers. On the street, rates were 7 per cent and upward. New York exchange was quoted at par between banks. The clearings were $3,100,000. BLACK HILLS GOLD. The Union National Bank has on exhibition two bottons of gold received from Stebbine, Post & Co., bankers In Cheycone and Deadwood. The "bottons weigh together 230 ounces Mtroy, and are valued at 500. They are the result of twenty- five days' run by an arastra on ores taken from the Father Deamer mine In the Black Hills, owned by Nichols, Haven & Coleman. FRENCH SPECIE MOVEMENT. Something Ilke-nn approximate Idea of the movement in and ont of the precious metals with regard No France In 1870 may be had from some recent >statistics published by the Government of that country. The total Importa of gold In bull. 100 and coin are pat at 509, 582. 000 francs. and of silver 1212.203.320 france; the exports of the former were 04,700,000 france, and of the latter, 60,720,080. These figures are said by the Paris correspondent of the London Economial to be in. exact. The preparation of the tables from which have obtained these Ogures is said to be so slovenly that serious errora of additions have been let ellp. The statistics. after all allowance for their Inaccuracles, above that the specio hoards of France are still growing, and explain the late action of the Bank of Frauco to discourago further RCcumulations. OPPRESSIVE SUSPENSE IN THE LONDON STOCK MARKET. The foreign stock market is absolutely stagnant. Home investing business a standstill, and the inter- Bourse arbitrage dealing in almost entirely stopped. There was drop in prices just before the close. in sympathy with fall In Paris, but there was next to bothing done. Egyptian stocks close very flat, and we have heard some is distinct statements professing to account for the fall, but could not authenticate any of them. The fall is said to have began here in their case, only that its doing so may simply mean that the French dealers tried to sell here the morning while their own market was undisturbed. There is still some foreign demand for Russian bonds, but the Felling here, email though It may be, seems always to mas! ter and they close weak. There was something done in Hungarian bonds In the morning on favorable news about the bank dimculty. Peravian bonds were also firmer, Influenced by the news of the Antwerpdecielonagainat Messra. Dreyfur Nearly all these gave way again before the close, however, and Turkish 1871 bonds were particularly flat. The same brokers are selling them now by whose purchases they were run up some months ago, and there is positively no mar. ket to well upon- even a speculative one-At the moment. A dull and appressive suspense bange over every one, and compels all to panee. The Bourves at Vienna and Berlin appear, however, to have been exceptionally firm. but. As they have few dealings here just now, their drinness WITH not felt appreciably as a support.-London Times, Feb. 20. THE PENNSYLVANIA A ANTISSTOCK UAMOLING' BILL The railroad Inflnence of Pennsyl is credit with the origination of the bill pending In the Pennsylvania Legislature for the suppression of onlew of stocks for futuro delivery. In this way the companies hurt by the recent break-down of their stocks wish to revengo them olves on the stock brokers, The latter announce that If the bill becomes law they will contest Its constitutionality, and. failing In that, will take their operations in " futures across the river to Camdon, N.J. RAVINGS-DANK NOTES. The report of the Committee appointed to exam. Inc the condition of the lately suspended German Savings Bank of Morrisania, N. Y., discloses deOciency of $48,115.50 that may possibly become $98,357.82. The Chairman stated that the bank, If allowed to continue. could pay 75 per cent of its deposits at the end of a year, but, If shut up, not more than 53 per cent. The Committee courteous. ly expressed the opinion that the failure was due to the mismanagement of former. not the present, officers, An agreement was signed by the deposStore to allow the bank, provided the Attorney General consented, to continue in business, with their deposits, for one year without interest, the end of which time they were to receive 75 cents on the dollar of their deposits. Au order has been isened for the continuance. until further notice by the Supreme Court. of the injunction preventing the City Savings Bank, of Providence. oue of the Spragne Institutions, from paying out or receiving deposits, The Receiver of the Cranston Savings Bank has paid back 07 per cent to depositors, The Indebtedness of the bank remaining is 3732. 021. and the bank holds property of the face value of 8880, 546, of which 8778,900 consists of Sprague notes, worth 25 per cent, and $92.000 land, MUNICIPAL FINANCES OF NEW TORK. The report of the Finance Department of Now York City for the month of February to not an encouraging document. The total debt of the city, deducting the sinking fund, has Increased sinco the 1st of January from $110,811,310 to 8121, 647,731. The City reasory had on hand In cash on Feb. 2H. $204, 402, but the wide departure of its finances from cash basis is shown by the Net of stocks and bonds issued in the first wa months of the year. The total was $2,808,008, of which no less than $2,174,700 La for current expenace." With such a tido running against them In the very midst of an uproar of reform, the citizens of New York may well begin to look on the future with gloom. III boding apprehensions are expressed that the city may be on the eve of bankruptcy. STUEKE TO un A BULL MOVEMENT IN STOCKAY The New York World, In its financial collion of Monday, puts Itas probable that: demonstration in favor of higher prices has been arranged by the speculators who have recently depressed prices. It says that the changes In management in the Rock Island and Northwestern Hallroads appear loit to be part of programme for bull movement, though Union Pacific alone has made any marked advance within the week. The speculators who have talked Rock Island down and sold It short, on the trustworthy Information supplied yould a must by this time be ascortaining the uses to which they have put themselves: and the crowd of deal. ers who go to leading speculators for points' have fresh Illustration to show for whose beueft these points" are given. GOLD AND GREENBACKS. Gold was 1004 In greenbacks. Greenbacks were 31603 cents on the dollar In gold. FOREIGN EXCHANGE Sixtydays. Sight. Sterling.
