The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-06-02
IN AND OUT or VAIL STREET


by the festivities of Decoration Day and
the opening the spring meeting Of the Ameri
can Jockey Club. The stock market though
stoady remained, accordingly with II few excep-
tons. very dull. The exceptions were repre-
scented by the coal stocks. the st. Pauls. the
Louisville and Nashville shares and the Lou
isiana consos.
The coal stocks were In brisk demand Mt adj
vancing prices upon the still maintained sup
position that the coal companies are going to
make some arrangement which will render coal
mining and coal carrying profitable
Tho st. Paul stocks were strong consequent
upon the manipuations Of a clique. which has
to sustain the price Of the stock it is loaded
with, in utter disregard OF the embarrassed
financial condition of the company and Of the
fierce wars it is engaged in with tho St. Paul
and Minneapolis and the st. Paul and Sioux
City roads.
The Louisville and Nashville stock which
sprang recently into considerable favor us an
honest dividend paying security. had tumble
OF some 10 per cent. upon the report that GER
tain kentucky and Tennessee corporations.
holding about $4,000 shares OF that stock were
In want Of money and intended TO sell out.
The collapse Of the Louisiana bonds was by
no means unexpected by those who had accu-
rate Information from New Orleans. Last
autumn not few Of tho distinguished Wash
ington legislators advised widows and trustees
of orphans funds to buy these bonds at 40 and
above. representing them to be a ilrst-cluss 7
per cent. security. Ever since then reputation
rumors caused the bonds to 10 slowly down to
about 80. about which figure they hung until
the majority report OF the Committee Of the
State Constitutional Convention Of Louisiana
became known the other day. An immediate
fall OF 10 per cent followed. and ut the close Of
Saturdays market they were offered Mt 40 with
out finding any buyers. Should tho debt DO
really put down to four millions. and the in
terest on 1t to per cent. 25 will be high price
for these bonds.
Considerable interest has been excited by tho
Pacific Mail elections. in the course Of which
Mr Henry Hart and Mr.. Babcock exchanged a
formidable amount Of Billingsgate compli-
ments. But all is well that ends we'll" The
platform OF the so-called Hnrt ticket (which
WAS in reality the ticket Of William and John
O'Brienl consists in a harmonious understand
ing with the Panama and Union Pacific people
The new ticket secured the Presidential chair
to old Capt. John Riley. and gives him for Vice
President that handsome young gentleman.
J u. Houston. better than whom no man knows
the history and position Of the Pacific Mall con-
Germ. OF which he has already been twice man
aging ofllcer. The new Board aver that they
have secured entire harmony OF action with Mr..
Gould. Mr. Sage. Mr.. Dillon. and Mr.. Park. all
Of whom seem to agree tina, It is TO their advan-
tnge to make tho Pacific Mail a concern sum
GENTLY strong to prevent all attempts at starting
new and competing lines.
Mr. Gould and his travelling party are ex-
pected in the street this morning and Il is ru-
mored that they will immediately proceed with
the work Of putting the Pacnc Mail on u more
solid aud respectable basis.
The mining speculation continues daily to
grow in importance in Wall street. A new con-
Germ. the Silver Cliff Mining Company OF R0sta
District Custer County Coli has Just been in
corporated under the laws OF this State. The
President OF the company is Mr. James r..
keene. and among its directors are men OF the
standing OF Senator Jones. Mr.. Robert /. Cut
ting. Mr.. Samuel W. Boocock. Mr.. Wormser.
Mr.. Jacob Lorillard. and Gen. John W. CASH
wiler. This latter gentleman is an experienced
Californianmining operator though quite a new
man in Wall street. His intensely German
name Notwithstanding he has nothing German
In him. and appears to an outside observer MS
a ponderous Al compound Of Scotch shrewd-
ness and California dash. He is the working
spirit Of the new concern. in the success OF
which unlimited confidence seems to be placed
by all who are Interested in H.
Another Californian celebrity coming into
prominence ia Wall street is Mr. William NJ.
Lent. Few people have ever seen him. for he
generally socks tho secuson which the back
room Of the Office Of Dickinson Bros. in Ex-
change place grants. But tho weight OF his
hand is felt by all those who are concerned
with mining interests. Mr.. Lent is a New
Yorker by birth. au admirably preserved man
a. some GO years. with well-trimmed
gray moustache and the general looks OF n
keen European dipomatist rather than Of a
bold California Spectator. lie was brought up
in the house Of Schemerhorn. Banker 4 Co..
and enlisted among the California pioneers Of
ls49. He is not only mining stock operator.
but practical miner having spent most Of his
life in the mining districts. II is said that there
is not camp west Of the Rocky Mountains
which lie has not visited. lie was the first 10
countcnancc the Comstock with money and adj
vice. He is credited with having supplied the
means for the development Of the Mexican. the
Savage. and the Yellow jacket. Al the present
moment lac is at the head Of the Bodie district
Mono County. Cal. which is considered to bo
the Big Bonanza Of the future.
Operations in these new stocks ROMAN. how
ever fraught with the same risks as opera
tons in the great mining favoritcs Of former
years. However valuable might be mines like
the Bodie or the Consolidated Pacific. they are
violently huctuating. The other day one
dropped 10 per cent the other & pcr cent. in
less than an hours time. The powerful friends
Of these properties came al once 10 the rescue
but not speedily enough 10 prevent the wiping
out Of Il number Of lisht-WRistel spectators
The racing season at Jerome Park opened
very brilliantly on Friday and had it not been
for the mishaps OF Saturday an uuproca-
dentody successful season could Doe ant cipUtel
Tho Spendthriu-DanS pariing incident has been
the talk fthe town for the last thirty six hours
and considerable amount of bitter feeling
has been shown all around. 1t is not gon-
orally known. however, that tho pro-
pretor Of these horses went ont Of town several
days ago; that he did not bet a cent on any
horse; TINT ne did not expect To win tho race
and that he had even teegraphed to withdraw
both OF them. But, rs is well known, the pro-
protors OF race horses are TO n great extent in
the hands Of their trainers. In this case the
trainer insisted upon running not only brcaust
the former owners Of the two animals had an
interest in the stake lint also on the plea that
good ruec II, even when lost, an excellent rNpc-
rcnce for the horse. The only fault of The Irn-
Il