The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-04-26

Bid Adef MI Adei
a. g.: 81 s loss iiS e H. ieS 3! 1872 oaS
So. al iioo a. 1873 S@3 1897 i iola i"oiS
i 4,sG Tsiio5, io5a { : s.. sarfcyiasa W.
Money on call 3@4 y cent. closing at the in
side rates.
certificates since the last report have amounted
to sl77.440. Total receipts to date s2.2O3, $50.
The Treasury Department says that the sale of
the certificates Ia rapidly Increasing In New
York the amount has reached f5O.OuO q dny. Tho
entire sales on Wednesday were tl77OOQ and
yesterday much larger. 1t is believed that
within n few days the amount OF sales Will be
half million day.
On Thursday Of next week the Board OF Di-
rectors OF the Pennsylvania Railroad Company
Will, according to custom. meet to consider the
question of dividend to be paid on the last OF
May. The Philadelphia Ledger. which makes
this announcement adds: "Of course no init
nation has yet been given rs to what the dlvl-
deDd will he. AT the last scmi-annual period,
paid and although the business Of the company
has been good since, showing n considernbe
increase. 1t is thought that the board will con
slider 1t most prudent not to increase dividends
until fully assured that they may be stendily
maintained" The stock sold in Philadelphia
to day at .36's 2 $50 share.
The suit commenced by tho Central Railroad
Company Of New Jersey and tho Baltimore aud
Ohio Railroad Company against the pennsyl-
vanin RAILROAD Company. to get unohstructed
road lying in West Philadelphia ana forming
link in tho through line Of railway from and
~
come to n hearing in the United States Circuit
Court AT Pittsburgh. next week.
II is positively asserted in the indianapolis
Jo,unaIthat the attorneys In the suit of the re-
ceivers II tho Columbus Chicago and Indiana
Central Railroad Company against the Pennsyl
vania Railroad Company for rent Of thcC G.
and |. &. road, have been notified to be in WASH
ngton next Monday. the 2sth when decision
IN the matter Will be read in open court Should
the Lease be confirmed the Pennsylvania COM
pany Will proceed to pay in the nelghborhood of
fl.OOO.OO0 of back interest on bonds. should
the contract bc set aside It is understood tho
Pennsylvania company Will immrdintely begin
the construction OF sixteen miles OF new road
from Rjchmond to Cambridge City. and leaye
the c.. c. and l. G. Company to operate their
own line between Richmond and Indianapolis
Work on the new railroad from Denver Coll
to New Orleans, La is now in progress. This
road passes through the northwestern part OF
Louisiana. ana thence M the Red RIVER valley
through splendid cotton country. II is TO be
laid with steel rails. and the contractors hope
to complete II by next DeccAbcr.
Tho construction Of the railway known Mt
present ms the Gull Line. running from New
Orlrnns 10 Houston and Galveston. Texas, Is
Is to be completed 10y July IS.
In the suit between the Bolivian bondholdcrs
and the contractors for building the Madeira
and Mamore Railway. Involving the sum Of
decision rendered Yesterday was not alto
gether in favor Of the contractors. though, 1t
tends in that direction The Court simply de-
clncd TO order the trustees OF the fund 20 amply
IL for the benefit Of the hondholdcrs. The Mas
ter ofthe Rolls has heretofore similarly rejected
an Application Of the contractors 10 order the
trustees To- nay certain Of their claims. The
mhtter Is sun open Tor extended lltlgauon.
Judge. will probably be appealed from. The
decision caused decline of f6 lirom p 10 III
~ Bolivian bonds. II is said in Philadelphia
thut the Reading Railroad Company is inter-
cStrd in the controversy. the contractors for the
railway being their debtors TO IA large amount.
Tho Attorney General Of this State. on nppli-
| cation has written an opinion that personal es-
tate must Ip within the state 10 Dt liable 10 TAXA
tion here: that personal estate out Of this state.
| but owned 10y n resident whether consisting
| Of cha,t"ls or capital invested in business, or
| money lent on mortgages or other securities, II
the securities are held by agents ont Of the State.
is not liable 10 taxation. In such cases the prop
erty so invested and held II liable TO taxation in
! the States whore the Investments are made and
NE securities are held. II howeyer. the securi;;
| ties for moneys lent out OF the State are held
within this state by the owner or agent or trus-
| tee. they are liable 10 taxation.
Jacob u. Otis was defeated yesterday in his
suit to recover the value OF coupons Of the
| Montgomery and Erie Railway alleged to have
| been cut from stolen bonds.
Orlando Perrine Of New Jersey got two YER
! diets Yesterday against the town Of Thompson,
! sullivan County. y. Y. in suits tried in the
! United states Circuit Court. before Judge Wal
| other for 81 .265.3O The suits were instituted
| 90 compel the town ~ Thompson 10 nay interest
| coupons on bonds issued by the town in nld Of
pany. Two other similar suits have already
| been decided IN the Circuit Court against the
! n.Nu OF lunlllSon. one WhrfH judge
! Wallace presided and the other before
Judge Shipman. Both Of these have been
appealed 20 the supreme Court Of the United
| States. whore they are rs yet undecided. Mean
/ while the Court Of Appeals Of the State OF New
| York has decided that the bonds were issued
| without power or authority. and ordered
! that they should be delivered up and cancelled
| Of sl4s000. in May, 1869 with 81
| coupons attached. payable at the Hanover
! National Bank and the interest falling due in
September. 1870. and March and September
| ISL. was paid 10y the town ~ Thompson. But
! when. subsequently,, the payment Of interest
! successfully. the case was transferred to the
| United states courts by transferring the houd,
| To New Jersey holders. The bonds are not due
| until 1899. but every succeeding interest day
furnishes ground for a now suit Although
the counsel for the town Insisted that the hold
| ers Of tho bonds knew that the Court of Appeals
had decided against their legality. and that the
! Tor tho bonds. Judge Wallace ordered the Jury
TO mud verdict for the plaintiff.
\ now Shipping enterprise was announced in
| the Produce Exchange yesterday. namely. n di-
| rect steamship line between this port ana Bel
| fast, Ireland. The merchants in Belfast and
| those in this city who import from that point
| have complained that all goods exchanged 10y
them have To De- shipped TO Liverpool or Glae-
| gov and transferred. The owners Of the Uni
! corn line. which Is now under contract with the
| New York Central Railroad. have considered
! these needs and determined u establish the
| line, which is for freight purposes only. Tho
| first steamship Is booked to clear from New
! York on or about May -. She is rho Lombard,
| NIwrasile.on- Tyne boat, OF l,l32 tons regis
| tor, built IN 1877.
New York Markets.