The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-16

THURSDAY. May Is
The stock market opened active at some nd
vance on yesterdays closing prices hut nearly
gil tho leading fnncies gave way "a >, undcr
irec offerings. lhrre was an carry rcflvety.
however especially for the coal shares witAWrsf-
ern Union Telegraph and the Granger roads
showing some excitement soon after meridian.
But tho Second Board was dun and weak,
except for Western Union. X. c. and Northern
and Kansas and Texas attracted renewed
shares We're called. Tho final close was con-
sidernbly below the highest prices OF the dav,
except for Western Union, and the tone Of the
market was fcycrish and unsettled.
Railroad bonds were comparatively quiet. but
there was some improvement in the issues Of
ST. Paul and the coal roads. There was u break
1871 Governments were again higher. but Dist.
oil Col 3;65s and State bonds were less in re-
advancing 10 6gl e cent. at the close.
The subscriptions to tho q cent. cerln-
Gates since yesterdays report. 1913 900. The
Treasury Department is importuned with tele-
these certificates. This the Secretary SAYS Is
useless, as they Will be sent IN due proportion
10 all the various offices entitled - receive them
rs fast Ms they can be printed. The supply will
soon reach 80 900 a day.
II is reported that sl5000.00Q Of Y cent
bonds have been sold 10 j. ;. Morgan Go. q
London Tor the European market We should
be more confident Of the profitable result Of this
transaction II we could be sure that nothing
would be done by Congress toward letting out a
mood OF silver. That Investors abroad will bay
1902 "a for q security which may be- rendered any
DAY worth 70 them only 80 Il moro than we can
venture TO hope.
The lease by the Reading Railroad Company
o. the North PennsylNania and Of the Bound
Brook Railroads has had favorable eject upon
the New Jersey Central Railroad Company.
Precisely how tho Reading Is 20 bc benefited by
the lease Is not very plain. hut II. ms many sus-
pect. the Baltimore and OHIO Railroad Company
stands behind IT, and has thus secured Il route
OF its own 10 New York the gain 70 tho y w
moro and Ohio stock has also recently gone up
considerably. perhaps in anticipation o. tho
lease We speak OF.
their money into United States bonds at n
cent, when they might buy Chicago real estate.
sure 10 return from to 10 q cent, eXcites the
surprise Of tho Chicago Inter- ocean. Perhaps
the dread which burnt children have Of fire may
account for the phenomenon The experience
Of Eastern investors in Western real estate for
the past SIX or seven years is not such rs 10
render them anxious to make new ventures.
The, gross earnings OF, tho Chicago, Rock
April l. 1879 were 80 400 s33; net cummings.
81 329.9 $50 interest and rents 81 1888 $50 le0y-
ing for dividends. 1871 35G
Tho gross earnings Of the Atchlson Topeka
ana Santa IL Railroad for 1878 were 80 $50 SOS
net earnings, I'll 0O9393.
The Denver and Rio Grande Railway Com
pany has made arrangements to build 5C5 miles
southwark.
The Cincinnati Sinking Fund Commissioners
have passed upon the license granted ly the
t"Nluvh 10 f. W, NouuNtIu anu H7soGlhlth lpr
operating the Cincinnati southern Railroad.
Several amendments were adopted, some of
which are important. and the Lrcuse WAS rati-
fed upon the condition thar those amendments
should be made part Of the contract.
The holders of the lret mortgage bonds = tho
Columbus, Chicago and Indiana Central Rail-
way Company met Yesterday 10 unite on such
measures rs, under the recent dc'ls lonot Judge
Harlan will be requisite fot TIE duo enforce
mcnt of the rights Of the hondhol0"rs against
the Pennsylvania Railroad Company, under tho
lease ndludged 20 be- valid. \ pan tor tho seal
ing Of the absolute mortgage ludrbtcl moss
! down To SO 1921 roo. and "A compromise with the
| holders of the second mortgage bonds, thetwo
most mlortant steps necessary was presented
| by Mr. Chas. f. SOuthmayd Of EvartS, South
points " the plan arc as follows First rhc pay
| mcut out OF the back rental of the Sl40O OO0 of
| excess OF sectional and first mortgage bonds,
| also the purchase from the Same funds of the
| sG66 500 ton per cent bonds. which are an un-
| qleshoned lien ulQn the nrst GO mi les Of
| road running out OF Indianapolis. Tho bonds