The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-18

The stock market was moderately active and
rather nrmor in values for the leading railway
fanccs. whether the Granger roads, the trunk
lines. the coal shares. or the Southwestern
roads; Western Union WAS but slightly eHsier;
but there was something OF n feature to the
market in a large business az buoyant prices
for Wabash. Rock Island. and c.. C.. G. and Ind.
The more important changes were; Advau.ed
c. G.. G. AMI Ind. - Rock Island, a.; Wa
bash. %; Chicago. Burlington amt Quincy
Ia; St Paul. =; do. pref. Il Morris aud Es-
sex. y: New Jersey Central. =.
Railroad bonds were in general demand and
about steady for investment issues, but specu-
lHtive issues were irregular the new Fries. Kan
sas Pacilcs. anu c, c. and !. C. declined slightly;
Jersey Centrnls. Rome. Watertown and Ogdrns-
burg. and Chesapeake and Ohio were dearer.
Governments very quiet; District OF Columbia
steady. and there was again some movement in
Arkansas issues 10 railroads.
The bank statement is nm important one,
showing an increase of 0S9G9OO in loans.
800 in specie. and t5.4s75OO In deposits.
with decrease OF 81 .i25 500 IN legal tenders
and s2 600 in circuBtion--these changes carry
ing decrease OF $5.T19.315 IN the excess Of To-
gal reserve which excrss is now only SIC. 3Os =
$780, yet money on call loaned AT 3e4.
Gas stocks are quoted; New York. 130a13G;
Manhaltan. 1s0@1s5; Mutual. 70a75; NUM-
cipal, n5ml20; Metropolitan. l2GF A25; Is 0Os-
Ign, l3O9l36; Jersey City. l35@li2
The subscriptions to the 4 q cent. rounding
certificates since Yesterdays report have
amounted to s774 $50. Total to date SIS sos .72O.
., 1t seems likely that no change will be made in
the Coinage laws at the present session Of Con-
gress Any bill that may pass the House Of
Representatives will probably fail in the Sen
ate. AMI Mr.. Hayes Is pledged 10 veto all meas
ures providing for an unlimited issue OF silver.
Nevertheless. II must not be forgotten that there
II n strong and growing sentiment in the coun-
try in favor OF the restoration 81 the silver doll
lar 70 Tree use on an equni iootingNith the gold
dollar and that noxt winter something may be
done, TO satisfy IT, II action on the subject
should take tho shape Of nothing more than
putting into circulation the silver dollars now
locked up in tho Treasury with n provision for
stopping the further manufacture Of them ns
y o. IN tFrtaf ar
harm will be done. but the indications are that
this Will not be- regarded MS sufficient by the
friends ~ silver. What they nrc striving for Is
not the double standard. but the exclusive silver
standard, and the more closely II is pointed out
to them that this, means deprecinted cur
rency tho more determined they are. The
prospect OF paving debts an 50 cents on The 81 Is
attractive To- them. and they think IL would DO
popular with the country at large.
Discussing the Columbus Chicago and Indinna
Central Railroad case, the Philadelphia Ledger
estimates the excess OF first liens on the road
above ne tl5.s2l 900 provided for In t9e lens"
extinguish It. The PENNSYLVANIA Railroad Com
pnny, i says will also claim, ns. m Offset 10 the
49, 400 600 OF rent now supposed To be due, the
damages IL has suffered 10y the failure to make
the reduction rs At first agreed This point will
have to DO passed upon by Judge Harlan at the
hearing on June 2.
The Missouri Senate has passed Representa-
tive Booths bin. providing for the resignation
Of Judges Of county courts, AMI declaring the
Offices OF Judges vacant ms soon ms the resig-
nations are filed with a county or circuit clerk
This law will rander nugat1ry all progresses
SERVED on county courts by Federal courts
andhaye the effect to prevent tho collection OF
bonded debts by Federal officials.
Canada has invested in railways s275.042 705
OF which tS5 574 4Sl has been contributed by the
Government and by municipalities. The az
Rregate net profit Of the business done on all
the lines for the year ending June 80. 1878 was
only s4,4l9,925, or less than per cent. ON the
capital invested.
Like causes produce like effects the world
over. In London the Times of May says,
" The continued cheapness of money is oprrat.
ing powerfully 10 prouuce extreme prices, IN
poets. Stocks now quoted much above par con.
tinue TO advance as II the prospects OF augment
ed railway dividends were Of the brightest
The same thing may be said here without the
change OF word.
The banks OF tho city make the following
weekly returns