The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-06-19

There was n further decline for leading
iancies. though tn, granger roads were pretty
ok dividend. The most important declines
were: Burlington Cedar Rapids and Northern.
I. New Jersey Central. < (; New YORK Elevated.
! Ohio and Mississippi preferred. 2: Union
ppeniilc =; Mlagtic and Pacific Telegraph. ~;
cnptonal advances. including tho following:
Chicago and Alton =; Eric preferred. q;
Hannibal and ~. Joseph preferred. = Louis.
Vile aud Nashville. =, and Kansas City aud
Northern preferred. |. Governments wcrr
rather ,nsier. with n fair business i'm the 8 y
Louisiana cousos more active at an advance of
-. Railroad bonds in general demand, and
cent: sterling exchange firm ut 81 81 tsms4SS
Tor prime sixty days bills.
1t is understood that at the meeting OF the di-
rectors Of the New York Lake Erie and Vest
ern Rnilroqd tomorrow MIR. james r. Knene is
to he APPOINTED director To I'LL vacancy. and
will be placed on the Executive Committee. We
hear that Mr.. keene Is in favor OF publishing
monthly official statements Of the roads earn
ings and expenses. Let us hope that this Is 50.
over TO the same view. The credit Of the com
pany is suffering from the present policy OF
roticence.
the exports Of domestics provisions and
tallow from this country for May 1879 amounted
10 III sol 7g5 pounds. valued at 81 9S5 72s. For
the same month o. lS,S !ee,y mere ~ oil 40
Ia pounds being nearly equal. their difference
IN values shows an average falling of In price
A an indication Of tho effect OF a long-con-
tnued low rnte OF interest IN stimulating the
Investment OF money in new enterprises. the
London Economist mentions that during the
first five months Of this year the calls for
capital subscribed To stock companies in Great
Britain amount 10 E26 600 900 against GIG OOO
900 during the enme period last year, and fl2.-
100000 IN 1871. The Times says that during
the month OF May los now companies were
registered, with u total capital Of 1880 900.
The legal doctrine established in this State.
ia the case II the schuyler overssues OF New
Haven Railroad stock. that corporations ace
liable to holders IN good faith for the value of
regularly executed certificates. notwithstand-
lag fraud in their issue, has recently been
affirmed in England. The Ango-American
Telegraph Company gave man a certificate.
upon n forged transfer. by which, OF course. he
acquired no real stock. A law suit followed.
the result Of which was a decision that the com
pany was bound % know the signature OF one
Of its stockholders, and must bear any loss con-
sequent upon mistake.
The Reading Railroad for the week ending
the 18th inst. brought down l7s092.l0 tons II
coal for the season. 3 500 oil .O9tOns increase
over 1878. l. 45. 577.l4 tons.
The Knoxville. Tenn. Chronicle says that
the holders Of something moro than one-fourth
OF the bonds OF Tennessee hive signinpd their
willingness TO accept the 80 = cent proposition.
The area Of corn planted in Minnesota this
year exceeds that Of 1873 by 800 900 acres.
The London Ddilv Standard Of this morning
saws il is Understood that Mr.. Franklin Is.
Gowen. President OF tho Philadelphia and
Reading Railroad. is in London for the purpose
OF raising another loan.
Tho rate Of discount for three months bills in
the open market IN London to- lay Is eml 81
cent. which is hgh cont below the Bank Of
England rate.
The Boston Hcrald says; r. r. Smith h Co..
cotton dealers OF 81 Central street. tiis city arc
involved IN the affairs Of B. r. Smith n Co.. cot
ton dealers ut New YORK, Whuee failure WAS re-
ported yesterday Each firm consists OF three
partners. but Is. II, Smith and J. VI. Smith are
members OF both concerns. So that the two
houses are worry intimately connected, being, in
fact. generally regarded IA one. The Boston
house Is ms yet without any definite knowledge
M to the amount Of the liabilities. ms they were
nearly all contracted in New York. II II thought
however. that they will not aggregate 900 600"
Tho London Times. in its, financial article.
anticipation. II is snid. Of further remitianccs
being wanted TO pny for American wheat. Sill
yer was stngnant yestnrdny Thursday and in u
complete absence OF business quotations were
nominal
Another failure is announced in England
thnt of Matthew Dickie, trailing MS David Bowlas
ties are stated at $500 900. James Addy col
liery proprictor Of sheffield, has also failed.
His liabilities are 450.OOO
OF tho forty million 4 cont. certificates
issued. ffl20 only roinihn undisposrd OF IN
ths hands Of the various deposItqries. and
Converted into y cent. bonds. The subscrip,
tons 10 the 4 y cent. reunding certificates
since yesterdays report have amounted to
A despatch from Quebec says that Mr.. Some
cal lessee has handed over the Lewis ana Ken
nebec Railway 20 the directors, who In turn are
To give il up TO English bondhoders. in accord
ance with tho late Judgment of he Court Of
Appeals.
Tho Borse Gazette Of Berlin save it has
reason to believe that thu German Government
In reply to nm Interpolation to be introduced in
| the KHichsag on Thursday, will state that 1t
| has no Intention Of modifying the principles
| which hitherto have been followed relative to
| coinage; will attribute the suspension OF the
sales Of p yer to the state OF tho market and to
| the actual requirements Of the Government
and will announce its intention OF extending
| the coinage Of silver. should such measure be
ultimately necessary. The Tobacco Committee
| haze rejected the proposal 10 make the new
| tobacco duties Retrospective.