The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-01

The stock market was generally depressed
to-day. Michigan Central declined 2: western
sequence " the publication OF the details OF the
organization oi,what, il is believed. will be
Stocks 'c ftl m materSiy and Wabash much less
active. In The later dealings X. c. aud North
ern became quite active Govrrnmenis were
Railroad bonds were much less active. but
prices were generally sioady.
Sales at auction at the Merchants Exchange
were made OF 81 900 Houston and Texas Cen
ira Railroad tmain linel lat mortgage = cent
gold bonds, 1885,: lG shares 81, Nicholas Bank,
g5ia 100 Second Avenue Railroad Company.
80. loo Twenty third Street Railroad Company.
80; AIS Citl2ns' Gaslght Company Of Brook
lvn, 49,; 30 Manhattan Gaslight Company.
ls0AMlSl % Metropolitan Gaslight Company
Of NV York 100; Is Eagle Fire Com pany 2O5
81 Home Insurance Company. l25 50 Peter
hntlan Fire Company, ll2h; 40 New York
Equitable, Insurance Company, i9S GO Com
nlercial FIR Company. 1877; "a Montauk Fire
Company 10.
The Delaware. Lackawanna and Western
Railroad Company disposed OF 100000 tons OF
Scranton coal NJ its regular monthly auction
sale to-day. at prices averaging $22S = ton, an
average decline OF 10 cents y ton from the
prices ~ the last previous sale. The amount
and average prices Of each grade were as fol-
5000 tons at s2.O5; egE, 2OOOo tons AT t2usA :
stove 40 600 tons 4 81 Sgs and cheSipput 10000
pany ut once issued price circular for their
grades for delivery at Newhnrgh. as follows
X .
stove and chestnut s2.35. and small chestnut.
81 So II is ACKNOWLEDGED in the trade. how
ever that this company has contract llst the
prices OF which are lower than the quotations
given. The Delaware and Hudson issued no
circular yesterday. because IT has returned 70
sales 10y auction. but is filling orders nj an adj
vance ot about 10 cents v ton upon the prices
ohtnincd mt It's last sale Its retail agents. Ward
| A Olvphnnt reduced their prices for deliveries
upon he sidewalk as cents y ton on all grades.
or To 81 rs for CRATE, egg ana chestnut and 49, 80
for stove. The effect Of the decline has been To
a sanlF ND
the reasoning which has lately prevailed, II
should have put them up.
The decline in Michigan Central stock from
| 81 To ~. is partly attributable 10 rumors OF hos
tile action on the part OF Detroit. in revenge for
| MIR. Nanderhits location Of the Detroit River
tunnel So far below the city. II is said that an
! independent line Ia Chicago. in opposition 10
! the Michigan Central. Is 60 De made 10y building
| line from Detroit to lpsilantl, 20 miles ana
from thence using the Hillsdale and IL" River
! ronds to Auburn, on the baltimore and Ohio
! coming into Chicago over n" latter road An
terminus of the Wabash line first building GO
| Mules Of road to Toledo. continuing over the
Wabash TO Defiance. the point OF junction with
! the Baltimore and OHIO, and then going over
the track Of the latter to Chicago. This route Is
| ten miles further than by the Michigan Central
but ii is said to hr over "a country As level in it,
grades ms that traversed 10y tho Canada South
! ern Railroad. The recent purchase OF the La
| fay"tle. Munce and Bloomington Railroad =
| supposed to have been made with Wow 10 al,
| this scheme.
The annual meeting Of the stockholders o
| the Atlantic and Pacific Telegraph COMPANY
was held to-day at LAG broadway. Tho annua
report Of President Eckert says that among The
changes that have taken place during the pas
year in the lines opcrated boy the company are
the expiration of the lease OF the Central Iacln
Hallway COmpnny's lines, Wnlch are nov
worked by the Western Union. The company
has transferred To the Western Union the Yer
mont International line, the NV York ,an'
OswpgO Midland Railroad, the New Jersey Mid
land and Montclnir, and Greenwood Lake Ian
road lines Ii has also turned over 10 the W est
| crn Union the operation of offices IN all part
OF the United States. which We're formerl
reached by $50 miles Of poles and 27O9 miles o
wire. Owing 10 the cooperation with tho West
ern Union 100 miles OF poles and l36 mules o
wire have been taken down and 80 offices closed
| The company now operates :, 200 miles 81 pole
| % 42l miles Of wire, and 223 offices. Durln
tho year ending Dec. 81. 1875, the compan
transmitted 300 $40 messages, including pres
and market reports. Tho receipts for the yea
were 81 Isl. 2i3O4. which with the net asset
on hand Dee. 81, 1871, of flS,u4juG, mad
81 1865 2Ss TO- out Of which were paid ts3s $3.50. /
for operating expenses, and t296 524,3l 10
dividends. construction, instruments, Nc.. lehN
inc the net assets at the close oil tho yea
1929. La
The subscriptions to the y cent reiundin
certificates since yesterdays report hay
amounted to S4OO.OsO. Total TO date. ti.3ll .oll
A bill authorizing the city Of New York I
issue stocks and bonds to bear interest AT 4 y
cent, the bonds to be exempt from taxation
passed tho Assembly this morning.
, Tho London Times, In its financial aric
| this morning says: Tho Atlantic ana Grei
, Western mortgages and bonds were all &c
verselY affected by the proposals Of those VIII
are now endeayoring to prevent the lease OF III
line to the Eric company. Tho creation
q | what may be called re-preterence debt on
. ! line not now paying its WORKING expenses