New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-28
ON 'CHANGE.
RENEWED FIRMNEss IN wALL-sT.

w
ACTIVITY IN THE STOCK MARKEr-GoID AND FOR.
EIGN EXCHANGE HiGHER-AN ORDER TO SHOW
CAUSE GRANTED IN THE UNION PACIFIC ISJUNC-
| TON CASE
A renewal of the firmness which character
lied business the Stock Exchange Of the
week was observable yesterday at the opening OF the
| stock market. There was remarkable buoyancy.
| and the fluctuations at first very narrow,
| but 1t was evident that the street had recovered
| from Its semipanc of some days since,
and was disposed TO take advantage OF anything
which seemed like the regular upward Asthe
day there activity and prices steadily
| advanced. The closing quotations showed an advance
Of to "a per cent the most marked Improvement being
| in Western Union Union Pacific, North West, Pacific
Mail, Lake Shore, st. Paul. and Wabash. Union Pacific
advanced TO 3 large purchases The general advance
was mainly due TO the introduction OF measure in Con-
calling for the issue OF s5OOOOOO currency, which
was referred to the Committee of Ways aud Means.
The latest development in the suit alleged bond
holder. Michael NJ Simpson against the Union Pacific
Railroad Company, has been the granting Of the follow
ing order:
bers 81 the COurtHeuse in the City of New-Y0rk
on the day Of April Present the Hon Charles Dono-
hue Justice.-Michael NJ. Simpson agt. The Union Pa
cihc Railroad Company, Jay Gould, John r. Duff SID
ney Dillon. L. p; Morton, BENJAMIN l.. Bates, George =
Scott Charles T. Osborn, f. Gordon Dexter, John Doe
| On the reading and fling Of the summons and COM
plant and the affidavit herein, ana motion OF
f. L. Andrews, plaintiffs attorney, It is hereby hereby
Railroad Company show cause before one OF
the Justices of this Court the 9th day
this Court held at the New Courthouse the city of
New,York, why an Injunction should not issue restrain
Ing the Union Pacific Railroad Company Its agents ana
servants. from selling, exchanging negotiating IN
any way securities executed under the indentures
OF Dec. 49, 1874, known the Sinking Fund Mortgage
and for such other and further relief may DE just
CHARLES DoNoHUE.
Tho issue NJ thn rae not Opncrally known in
Wall-s The matter up for argument In court but
q postponement suggested, and both sides con-
curing the argument will deferred until Wednesday
or Thursday when 1t will probably take place.
Capron Merriam the .brokers OF the CO. c. and I. C.
"pool" who carrying 1900 shares Of stock, have
given satisfaction their creditors, and OF
them, named William Blsh began proceedings yester-
day TO have them declared involuntary bankrupts.
ACTIVITY IN THE GOLD EXCHANGE.
There considerable activity in gold yesterday
owing the introduction OF the s5OOOOOOO expansion
bill the loss OF Rl2l bullion by the Bank Of England
and the rise foreign exchange. The price opened at
ma sold down to 1924, aud up TO 49, Considerable
gossip created by the alleged failure OF prominent
dealer and the private settlement OF between s9OO0WO
and g. 5OOO 900 gold for his account.
Foreign exchange which contributed much TO the
activity IN gold opened as follows "Prime bankers
sterling bills 4s7 and 40 the business coming 70
4sG. and 4s9s q4s92 At 40 for bankers demand ster
ling. gold he exported without loss, hut long
bills be obtained at 49, gold will not probably be
shipped, unless perhaps by Of the prime drawers
who never insure specie. The payment of insurance
q of per cent? does not permit exports Of gold with
loss while bankers demand bills be had at 400
In the afternoon there was further advance in
foreign exchange, which for prime bankers sterling
marked for 60day bills and 4.9l, business coming
up TO 4.s7 and 4.9e
EFFECT OF THE WASHINGTON RUMOR.
The rumor of the failure OF the Freedmens Savings
markets, and there little discussion concerning It.
except in banking circles No official notification OF the
failure Of the Freedmans Savings and Trust Company
Washington had been received ut the branch Of the
Washington Institution, at No lss Bleecker-st.. in this
city up To o'clock yesterday afternoon Mr.. Samuel L.
Harris asked what the probable effect the branch
institution would be, said that If the reported failure
proved to be what he supposed 1t woud, notification
TO depostors Informing them that the bank required the
time allowed by law before paying out its funds, the
New York branch would follow the example OF the main
house. He acknowledged that some anxiety had
by deposors for two or three days past aud
that they had out 10 all who came TO their
counters. No excitement had prevailed, however ana
he hardly credited tho reported failure The amount
held for depositors in the NewYork branch is about
s3OOcO Before the panic the business OF the Washing
ton house was much the largest, but since then the
Washington business has been comparatively small.
In the evening business transacted as usual, with
out any appearance Of run" Mr. Harris retired from
the bank after o'clock and no information could be OBJ
taiued from him. John j. Zuile, the cashier, however,
said that no intelligence OF official character had
been received from Washington. II none came, they
would open the bank usual this morning and
nav all demands as far their money went
The Bleeckerst. institution was simply branch OF
the Washington concern and would have to share It's
fate II the institution failed, the NewYork branch
would avail itself of Its privilege OF me and adhere TO
small payments eventually settling the larger accounts
nnlt on Tha Of he
bank for the month OF March amounted 10 $4,000
number of these deposors had called and drawn their
money and others wished to deposit but the bank Oil
GERS dssuaded from doing until the future
of the institution should be assured.
The Freedmen's Savings and Trust Company was es-
ablished in 1865 and according to its circulars had
assets O. more than 100000 Another significant re-
COMMUNICATION was to the effect that the Government
~ fine United States had this bank perfectly SAFE
Investments we're made only in Government Sc
curties and loans real estate worth ID each case
double the amount Of the loan Investments were not
70 be allowed in State county city, or railroad secur-
| ties.
The officers are Frederick Douglass Presidents e b.
pnrvis First Vice Presdent Thomas L. Tulock, second
VIcePresdent; g. W. SucKhey, AetudrS n ~ 'P''''
General Inspector.
| MIDLAND RAILROAD ADJUSTMENTS.
| The following document Is circulating among tne
| bondhoders Of the NewYork and Oswego Midland
! Railroad:
III 1874 between Daniel Hastead Gerrit II. smith
iprman Blennerhassett Edward ;. WheleD, Chares
srrs and Charles W. Hasser of the first part anu the
several bOndhOlders SUBSCRIBERS helelo Vi 'ho Sc0o
The parties OF the second part holders OF
"a I,nnnon and regisered made and issued by tho
Nev-York and Oswego Midland Railroad company ana
mrad nv frst mortgage deed OF trust on said Rail
Sosd Com1anys property, dated the LIST day Of july III
'T wSsreas Said Company failed to pay the interest
ON 20 nonds ar covenanted in said mortgage OF deco