The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-10

EpTDAy Nav o

The stock market showed considerable ac-
tivtty. but there were no important changes in
prices. and, with frequent fluctuations. the tone
was unsettled. A new thing among the light
fancies was Ind. Gin. and Lafayette. opening
at advancing to :. and closing At 6. The
whole market closed about steady Mt partial
advance, but only moderately active. Govern
ments were quiet. hut there was large move
ment and advance In Dist Col Railroad bonds
We're fairly active for the recognized invest
ments. but speculative issues We're compare
lively neglected and barely steady. though
Chesapeake and Ohio frsts. series B. were
again higher. Money on call. 2h99 2 cent
The subscriptions to the 4 y cent. refunding
certificates since yesterdays report have
being greater than the supply, the Treasury
Department has been compelled 10 regulate the
issue of refundiug certificates to depositaries
The sales in Washington were getting out 81 all
proportion to the amount OF certificates which
depositarirs elsewhere could receive. there
lore there was shutdown at the department
to-day, and no person was allowed TO buy more
than 800 in certificates.
Internal Revenue Commissioner Raum au-
thorizes an unqualified contradiction of the
repeatedly published report that. in res ponse
70 n letter from the Collector OF the Fifth Iowa
District. he has rendered a decision that banks
are not entitled to deduct their United States
rounding certificates from their taxable capt.
tai as they would be entitled to deduct Govern
ment bonds. The Commissioner SAYS that tho
question has not yet been considered.
Tho sudden rise in Indianapolis. Cincinnati
and Lafayette stock o-day IS probably due TO
the impending sale ~ the road under foreclos-
ure and the consequent termination OF the re-
ownership. with reorgan cation to follow.
Steps have been taken 10 organize n company
c 20 pu an ar TTns9h o. a tpe ~ i41o9Hp0s' p9
tie junction OF the Chicago and Alton road
| This route vii make q nearly airline from In
danapolls 10 Kansas CITY, and greatly shorten
the distance between the West and the East.
A despatch 70 the Associated Press says that
the stockholders OF the Indianapolis ana Vim
cenues Railroad have elected Thomas A. Scott
rs Pres ldent, and voted IN favor OF leasing tho
limo 10 the Pennsylvania Railroad Company for
nlnety-nine years. THIS must mean mod. a.
cation OF tho lease made few years ago. under
which the Pennsylvania company suffered a
loss last year Of s2J0.65l. and in 1877 of
sZ3O412. the earnings barely equalzing the
running expenses.
\ suit is now pending in the United States
Circuit Court in the interest Of the owners Of
f250010 Of stock issued by the Kansas Pacific
Hallway Company 20 the county ~ Leaven-
worth. for which full payment was made. II is
Understood That an Affirmative decision Of this
stock upon which nothing has been pnid 10 the
company T. pay in tul. or lie excluded. In
County stock Will own the greater part Of the
Kansas Pacific Railway. An Injunction is pend
ing IN me courts to prevent an election OF direc-
tors by the old stockholders.
The Central Railway Company OF Iowa is to
be reorganized under the name OF the Iowa
Contra Hallway Company. The new company
W doo issue os6 q ~ 100000 OF ? cent. bonds.
ond preferred stock. and 81 Ouu 900 common
ST, H.. An nrrangement has recently been
.,"u, ua Miivi' lus'I9u o. USING, aS III present,
Railroad track. the Iowa Ceuira will have a
direct councNlon with st. LOUIS by way of
Abba and Moulton, twelve miles Of new road
being built for the purpose.
The consular reports TO the Department OF
State from France show that for the first quar-
tor OF 1879 III" imports ot that country exceed
the exports 10y 81 1000 600. an increase over the
same quarter in 1878 OF Sl20O0.OOO. The inn
pnrtntions Of articles OF food show ar increase
Of 3luuO0OO. The imports and exports of
slk, manufactured and unmanufacturnd. have
decreased. The imp0rtntions ot raw silk and
cocouns have fallen on 32 900 900 francs.
+, NJ. Lockwood & CO. announce the loss Of
200 shares OF Northwestern preferred stock in
the vicinity OF the stock Exchange yesterday.
Certificate NJ. O22.1l4 was IN the name of w. l..
Scott No. O23.O5I was IN Jay Gould's name.