The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-01


Opening. Highest Losgesk Closing
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Thursday. ........... ll2h. 1924 ll2h 1l2H
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GovERSMExr BONDS
The first part Of the weeks transactions were rather
limited owing mostly to the higher prices asked for
all bonds, with declining premium god but
during the latter part OF the week buyers gained
age thus causing brisk transactions and rapid ad-
vance OF prices
RAILRoAD BONDS
Sales in this line were somewhat limited beng less
than 81 200 O00 and general rule prices have been
firm. The fluctuations confined to three four
stocks. Investors have shown their hand freely
among the unquestionable bonds, and look for
higher prices.
dull and irregular On the official list Of sales
only and then a sale was reported and the total
transactions scarcely amount to $780, 00o Outside OF
boards hear Of little activity. In Texan and
other Southern bonds various sales are reported.
Good municipal bonds Of New York and vicinity
main in good demand, and readily taken up
as they appear al tho regular market rate.
During the week most OF the banks have gained In
strength. The proportion OF to deposits
about 20 per cent, OF which 20 per cont In legal
tender. There still many banks, however, which
hold less than that proportion Of legal tenders and
which have less than the required by law
The decrease OF loans since April Is not
prsng but this average has fallen lower than it has
been before since 1874 and . speedy increase Is
naturally to be expected.
VIEW DEAL THE WESTERN COMPANY.
1t Is reported, ON what to be good authority,
that the Western Union Telegraph Company have
recently made new investment to wit, by purchasing
controlling interest in the Southern Atlantic Tee-
graph Company. This company has capital stock Of
S. 0O0, 900, divided into shares OF $25 EACH and il
bonded to the amount Of 100000 The story told 10
folows:Certan parties connected with tho Atlantic
and Pacific Telegraph Company had quietly been
picking up the shares at about IS per
share, when suddenly the Western Union ap-
peared purchaser At So SO per share
which would make half OF the capital stock cost
$3.50, 600. AS this was . higher valuation than
placed upon the property by the Atlantic and Pacific
plc they gladly avaled themselves opportunity to
roalizs the offered profit Of 81 90 per share what
they held claiming they build tho line
plcte for SIP 900 II all this 10 true as doubtless
far as the purchase by the Western Union Is
cerned. tho query is how the purchase money
alIzodf Has the Western Union sold Of is own
stocks
RAILROAD
Concerning the railroad there IL nothing to
add Rumors, however. are in circulation that Is to
extend 10 bound freights and passenger trafnc
which 1t may do but yet there better author
ty for tho supposition than that the fight to
grow in bitterness between tho Central and Hudson on
the hand, and the Baltimore and Ohio and Penn
syvara roads on tha other. That the winter rates
could not be maintained after the opening Of lake and
canal navigation was ioregone conclusion, but
whether Mr. Vanderbilt can probably hght even with
his partially iour-traok line, steam on the canal
problem that time and stoppage OF the issue OF con-
struction" bonds only Will solve.
AvPAIRA
We note important decision lately rendered by
Mr.. l. X. Lippincost acting Commissioner OF the
General Land Office, . arising between two
interesting mines IN Boulder county, Colorado
Section IA Of the Of 1872 provides that when two
lodcs the prior locator entitled only 70 tho
at the intersection OF the two veins aud to all the
ore in tho vein between tho boundary lines Of
the first The Court before which tho case was
brought held that all the within The lines OF
first located belonged the company locating it,
which view sustained by Mr. Lippincott Tho
owners OF the second lode have however, the right OF
way rst for the purposes Of working their
mine. The daily production Of ore In the Comstock
lode Is stated coo and all the mills are work
ing up to their full capacity The estimated bullion
product for April 50, 600, 600 Tho California CON-
pany shipped S579 los in bullion the LIST Of
the month Eight hundred sacks OF gold
and silver ore weighing $1,000 pounds, have
boon shipped from Virginia City, Nevada 10 the Gen.
tcnnla Commission OF Philadelphia TO supply tho
quartz mill the Exposition grounds. The comes
chiefly from California and Consolidated Virginia
mines. Specimens brought on by Mr.. b. X. Jamison,
OF Philadelphia, to be In the Office Of the
Colorado state Mining Company, in the Drexs Build
ing.
The Virginia City Enterprise referring to the recent
break in the mining shares market. says. editoriay,
that . gentleman connected with the paper, we'll
versed In mining affairs, within few days made
thorough examination OF the Virginia and California
mines, and reports them looking rs WELL or better,
than year ago The article continues:-sln fact, II
10 we'll Understood Virginia City that drop in the
market about this time would DO big thing for
who understand the power Of well told lie
citable subject q the stock markelu
Messrs. Kuhn. Loeb a Co. agents for tho sub.
scrptions the city Of Cincinnati per cent
gold loan; 500 600 offered the minimum price
OF los per cent
SILVER QUESTION
Discussing tho fall the value Of silver
the other side OF the Atlantic the London Standard
says that they are fourto W.T. 1.-THE increased produc
ton OF the American mines, the demonstration OF the
metal by Germany, the absence Of a demand in Europe
owing TO the fact that many Of the great nations
have suspended specie payments, and the diminished
demand Of the East especially Of India or these four
causes PROFESSIONALLY semporsry--Gcrmany, IN
the course Of short time viii have demoneuzed its
silver and sold much Il has longer noed for
When that time there viii longer be a seller
able TO bear down the markets OF the world by the
large quantities. Il has 20 dispose Of Germany will
again be buyer OF silver, although at Hrst small
amounts to provide Tor the and tear OF It's silver
or token money so far as the influence or Germany
extends then tho depreciation Is manifestly tempo
rary little while ago the scsIon OF tho countries
with inconveribIc paper seemed equally temporary.