The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-04-06

Morris Ea-N = 01l NV lNrnt v. land yrAnt o. ~
Dei A ii u isi7s - OF ltniou Pacific lat O. in9
BBscII11 III I $500, y S%S" rssSs SID. iiiS'
rs H5.Sy sd nSr b, ~ q " H. q iam3
@ ~ q Is s S"qI i! E' g NJ si,1
Rrie G.i.e% Is .,....liuS Kf istG.. 10 WIN ciil3
E, ,,. "a a. !. .i, s% 5 ON is sI9
E S"s i c ca" bonds g Ft os "a. o
h.kY3h ia7;; In, r5tISF.w& CHG S'.iis
nv. IL WEI c7sin 10 cal ci.t con 7s G3Y
Money on call was steady ut COZ v cont. tho
ns y 81 rte r rqnT Sr bs oH%nEo quoted
general mcrchnn ise nt the port the past week
ara valued nj A.17g 900.
est to cease Ju'y4
The bank statement for the week. as compared
with last week. shows:
'i $ s 'ai:s n: sc b.: H SSss
icTsS"Tirnds- aiscsSS ,sisiSs9 Pc. 24ssi91i
Circulation. iO5i2lOo le0J5.JO lac llSIU
Tho enormous subscriptions to the four per
cont loan mad. yesterday have removed tho
apprehension Of q stringency o. money during
tho present month and, in fnct. assure m
NOR The whole OF the outstanding 3. 20s nre
now available as means of payment To tho
Treasury for the 4 per cents NJ they become
deliverable, and the three months, credit nj
puts the depository banks In ample funds for
the accommodation OF temporary borrowers.
The effect was visible to-day in the stock marked
in the higher prices paid Tor al kinds OF serurl
tips. There is u general feeling ~ huOynncy
all the more marked because Of tho depression
which hns lately prevailed, and disposition to
buy. which II restrained only 10y the dim 'uty
OF choosing whai to buy This ireling is justi.
fed hy more than merely spcru lntiVH cOusiderd.
tons. The immense amount of the new loan
aud the general distribution OF II. evidenced by
The number Of holders to whom interest WINS
INIT III, la lat
nre coming To regard four per cent, Tree ot
taxes. M reasonable income from their cnplN
other securities not exempt to par on n
pr cent. basis. and puts n premium on those
which pay more than . ner cent For SON,
time. now the best and per cont railroad
mortgages. having twenty years or more TO run
have boon selling at rates which net the rur'
chaser 81 To- = per cent. Attention will I'M
doubleday soon he turned TO slightly Inferior
but. nevertheless. perfectly good securities
which can be bought on better terms, Among
those Hrr the shares Ot vuriOus lonsed lines ul
railroad such ms the Harlem. the Rrnsselaer and
Saratoga. and the Pittsburgh, Fort Wayne and
Chicago. which promise with reasonable GER
talnty and \ per cent. In nerp"uiiy. Jhen
class Western and Southwestern rnllrond COM
panirs which nj present prices yield all the way
from to 10 per cent After these, again may
b. placed some Of the nrst-class railroad stocks,
such NJ the New York Central Chic.go and
Rock Island. and Chicago. Burlington and
Quincy. the dividends on which, though liable
10 nurtuation. are large enough to tempt IN
vestors ilngto run some rlsk. BctidrS these
therr are host Of stocks which mast also get
the benefit Of tho revised estimah OF possible
income. The days when and per cent. per
nnnum could be obtained withuut trouble ana
without danger are passed. never 70 return.
The country Is too rich and its surplus cnuitnl
too abundant to permit the mai utcnauce Of such
rates. and investors will have % accept the stu
ation rs they find 1t. For these Reasons tho
present high prices OF stocts are more than
likely 10 be maintained, AM we look 10 see
stlll further advance.
Gas stocks are dull bu, firmly held; New
York. 100 to 1922 Manhattan. 1876 TO 1876. with Il
1885, Mutual ~ 10 rs: Municipal. 100 TO ll5:
BROOKLYN. 13S to 1852. aud Jersey City 40 10 $50.
The same paper SAYS: There is "A general
exodus of miners and ohcrs from the anthracite
| regions Of Pennsylvaaia to the new districts in
| Colorado. and tho solution Of the coal question
be- surprised to see inhracite selling nj the
| shipping ports before the close of this year at
over 81 u ton. or double ils present price. There
| the probable demand
The time IL approaching for the Pennsylvania
Railroad Company 70 Ieclare Us May semi-an-
| otprs ars diecus-ing lie probable rate. Some
assert confidently that the dividend will not be
out earnings since the LIST dividend sufficient
to Justify 8 per cent; hoddes contribution TO
the sinking fund OF 100000.
| The London Economist OF to-day says:
| Bank bile, sixty days to three months are
| quoted nj 1901 = per ont. discount, and trade
the week sks rsyT eonsRera fGg from BqE
previous depression. tut business was mostly
inactive. American railroad securities ad-
! ian. and Peruvian bonds were adversely al
fected 10y the. warke news. Tho advance in
| consols was due to tho favorable reception OF
the budget by the city people,"
The reply OF tn. English Chancellor Of the
EXchequer a. tho deputntion OF the Liverpool
! on Friday To urEc tho restoration OF silver to
use as = currency standard. ,was not very en-
couraging, The Chancellor. Sir Stafford North
I cote, said the uueNtlOu uuI
very complicated; that any change in TIE laws
AFFECT ng the currency OF the country must be-
considered with eNtremo care: that it cannot he
Undertaken without n knowledge Of what tho
views Of other countries are likely To- be- regard
ing II; thhtthe question already had been and
was still being very carefully considered by the
Gpvernment both with references To the rela-
tions between England aud India, and in ia
moro generll ASPECTS. He could not say more
al the present stage OF the matter except Ia AS
sure the deputation that their views would GER
tainly be taken into consideration ia the study
which the Government was now giving the
whole subject.
A dispute growing out Of the adoption by
Germany Of the gold in the place OF the silver
standard. has arisen betwoen the Austrian rail
way companies and the German holders Of
principal and interest either in Austrian fOrins
or German thalers. forms being Made equiv
alent IN thnlers. This ratio was "a lust ono
when tho bonds were issued, because both
countries had the silver standard. but now that
Germany has abolished the silver standard and
mndo marks gold its equivalent. while the
Austrian silver norn is unchanged. the Ger
mans claim IL marks gold on their coupons for
every fiorins. II their claim is allowed Il viii
cost the Austrians for interest alone $1,000 900
annually more than II they paid in silver
HORNS. The dispute at the latest advices was
still unsettled
The deposits Of the Bank Of England from
| private customers are now according 10 the
latest returns about f2S 400 600 or tll2 600 900
a year ago they were littl" over f23 0u0 OuO or
! about flljOOO 900. This increase of t27 900 uOC
! is attributable largely to the want Of confidence
| ~ private ana Joint stock banks caused hy the
| Guy Of Glasgow Bank and West OF England
| Bank failures last autumn.