The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-22

WEDNESDAY. May q.
There was n moderately active stock market
and prices. without huctuating widely were
generally ilrmer. especially the coal shares and
telegraph lines. Atlantic and Pacific being con-
GransSr roads tG were were in better better demand. and
higher. especially St. Paul X. c. and Northern
and 81. Louis and San Francisco were higher
with more doing. There was notable move;
ment in c.. Il. and Quincy AMI in Rock Island
az higher prices. and y, y Eley1ted advanced
dealings there was n sharp decline in coal
shares. and, ip fact. nearly all me active
terdny. were: A. and L. Tel. L.: G.. b. and
Quincy. ~ Pittsburgh. = Fort Wayne 1.
than Yesterday.
Railroad bonds were generally active. but
some OF the speculative issues were weaker;
o.. and No. K. and Texas were easier; Cen
trail Pacincs irmer Governments were higher.
large sales OF 4s having been made ut 1885.
Low priced southern State bonds were in de-
mand. Money on call dcarer. az 3 a. e cont
Exchange hrmer at sisIhs$ieS for prime
GO-day bills.
Suhser r'ione 20 4 - oonfs since Yesterdays re-
port Slls13'O.
Tho corner in y cents produced by tho
operations a. the syndieato has begun 20 touch.
which have deposited lO-iOs ms security for
their circulation. Thor M 'cr~ seo themselves
reduced o. the alternative 20 either uur"huS ing
e cents ut q large prcWium or oi .caIl Ilg iu
their notes. A. the time approaches for the rec
! demutou oi The lO-ius the price oi the g. goes
/ t. SEQ IL 20 down increases. Very naturally
| they abuse the syndicate and Mr.. Sherman.
and talN oi themselves as the Wet ms II AN oli-
/ GUS conspiracy. Their" is uo help for ID I'm.
however. except % form league ou their side.
/ and untrdiy allow the proceeds OF their
| calloi bonds To- hc applied To- t1e REDEMPTION II
| Ncir circulation. This would have the double
| ishing the demand for thri r cents. ana thus
/ bring the price of tie iuttor down g. "a lower
! figure. There would he. of course. "a loss ~ iu-
! rest on circulation. Out it would probably be
! loss than the saving ia tho purchase oi IA" Sc
! curltIcs required for new notes. The natural
reaction Of the market from it, pres ~ eN ito
and We shall not Zoe surprised Go see u adopted.
Tho unreasoning tempero; much ~ the pre-
| valllng speculation IN siu b. IT, shown Toy the
| recent rise in Cleveland. C,lumhus. Cincinnati
and Indanapo. shnres from A To "a IN tie
| report Of a traflc pooling Arrangement with
| the Wabash Company. Considering TINT neither
| est on their funded debt. and that the two whom
combined would be as powcrless A. when s"pa-
ratr - Hui w rates IN NE lace OF the c9mp.Il,
ton OF their rivals. surh an arrauEem'n nj as the
| one spoken ~. should IL he made may have the
effect II slightly Increasing local earnings, but
| VIII certainly not insure dividends.
Tho directors - the Ftchburg Railroad Com
pany voted Yesterday afternoon Ia give three
months notice in writing 70 the parties form,
tho Fitchbure Railroad Company 20 withdraw
| from thu agreement between 10 and theta. and
called the Hoosac Tunnel contract
Tho Wabash Railroad Company has author.
i2od the building of an independent line of rail
road from Toledo 10 Detroit, and the contract
Tor tho work has been signed. Tho Grant
Trunk Of Canada Will nay mali Of IT, eNpcus"-
getting up suhscrlpt " 500 600 10 pay i1l
a depot for this now line at their city.
The rcport Of business ,upon the canals q I'll.
received At IN" Produce Exchange aud is Il.
follows Tonnage bnth ways l'2s'l tons
Inst yoar were' Tonnage. 1897 tolls
ESQ 1881.