The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-05-25

those iancies which depend upon speculation
for q market and are not held 40 Investments.
Subscriptions to- p cent refundin1 certin-
cates since y,stcrdnys report, q 245,660. Total
to date. f24. LAT 800.
There have been Of United States bonds held
ns sscnrity Tor national hank ejaculation
~ $50 300 Withdrawn and IS 08j 600 deposited
during the week. The circulation now amounts
To 1927 .964 100 currency notes and OIL. ACC. 600
gold notes.
=. The Warner Silver bill as II finally passed the
House OF Representatives to-day. 10 free from
contained for giving to tho holders of silver
bullion legal tender silver dollar for every
4l2h grains of standard silver. Whatever profit
ccnts worth Of silver into n dollar Is to be re-
ccived by the Treasury ma compensation for
doing the work But the effect Of tho bill, II It
should become law and be faithfully executed.
would. nevertheless. by to force silver into cir
culation IN the place Of gold and ultimately TO
cause gold TO be exported from the country.
We should then be in the position Of having rs
q standard Of money a dollar which. IN me
debts, public and private. would De reduced
practically by the difference between 100. and
at by the supporters OF the bill. and they will
not be content until they reach IL.
The Wabash extension from Toledo 30 Detroit
e 70 DO built by tho Wabash and Grand Trunk
Hallway Companies Jointly. but operated rs an
independent line.
company. called the indianapolis and Kan
organized to build railroad hom Decatur to
ROodhouse. to connect the Indianapolis. Deca-
tur and Springfield road with the Chicago and
Alton road
The capital stock, surplus and undivided
profits OF the national banks. Oct !, 1875.
TO 1924 900 900: being a decrease Of SOS O0O, 900,
or nearly 10 v cent
The dividends paid in 1878 by the railroad
companies Of Illinois amounted to H1 .O6S. go.
or an average OF 5.l9 per cent. on the entire
amount OF common and preferred stock against
1886 79S or SSS per cent. In 1877, The gross ross
total operating expenses. f62 O58 400; net earn
inRs. 81 .5?2 .643. The gross earnings IN 1877
$50 net earnings. ssS 7sSs79 The not earn
| ings were 80 per cent Of the gross earnings.
| against IS per cent. In 1877.
The Chief Of the Bureau OF Statistics nj Wash
| inRton has Issued n circular. In which. among
other things. he sets down the total value Of ex-
| ports from Great Britain and Ireland TO all
| countries during tho five months ending April
80. 1872 at E57 722.463. As the imports into tho
| same country Tor the same period are given as
| fllI 200 2gO. the apparent excess OF imports Is
| SOD .4s3.s2T, being at the rate OF nearly ESQ.
100000 year. But our statistician entirely
| omts to take note Of foreign and colonial mer-
| chandsc reGxporcd. which for the four months
in question amounted to els 10000. and re-
duce the real BALANCE against the United King
| dom TO f45,753.S27. or less than el3S 100000
for, the year The fact seems to bo that
| he has copied his figures carelessly from the
| Board Of Trade returns published In the Lon
| don Economist, in which tho exports OF British
| and Irish produce are footed M and amount to
G57 722 400 whereas the exports OF foreign and
colonial produce are given without totals at the
foot and have therefore been overlooked He also
omits 20 state the exports and imports OF gold
and silver which were for the four months
Exports, sc iG6; imports. go, 7S5T26. If
teal Bureau IL IL vnluclo-s for any purpose eX-
ccpt the payment Of salaries 10 its employees.
The characteristics Of the London stock mar
kot. according TO the latest advicos by mail. are
steady demand for the better cuss of securi-
ties and an entire absence oi speculation. In
fact. Notwithstanding the low rates OF interest.
| money cannot be borrowed Tor ftlIuflNn
poses. and II Il could b.. the pubic are lndis-
| posed TO operate.
At n meeting Of tho directors Of the Northern
Pacific Railroad yesterday. Mr.. Charles b.
Wright resigned as President and Mr.. Fred
erick Billings was chosen.
The London Economist Of this week says:
Little business is doing in money Tho mar
ket is easier IN consequence OF greater steadi-
ness OF iorelgn exchanges. me Increase IN
Of the rate OF discount Of tho Bank Of France to
two cent may also be- expected 10 Increase
a period Of cheap money. The nearest quota.
ton for three months bank bills Is = y cent
change is very noteworthy Ii has reached a
point at which II will probably bring gold here
stocks, and shares which have been pur;
chased here ~ American nySesIors e S
Continental Bourses and although business Is
Inactive IN consequence q the approach Of
birthday to-day the leading variations have
been upward. These principally affect foreign
stocks. The strength OF American railroads il
again very. noticeable. and the shipment o.
shares to New York continues. The ternina
ton OF the Durham miners strike was al. nrs
, well received in the home railway market, but
partial reaction followed Some American line,
! suffered slightly on Friday because Of rumor
OF extended competition. New Jersey Central
. Philadelphia and Reading and Erie have gen
= orally shown strength"
Argument in the Western Union Railroad
foreclosure case is to DO had in Chicago before
Judge Drummond June 2. The hflidavits OF
the pnrt 81 the defendants made by AleXande
. Mitchell President OF the Western Union. m,
others have been published in the Chicag,
. | tribune. Mr. Mitchell gives as the reason VIII
| he did not pay tho February interest on th
SO, 800. coo first mortgage bonds Of the COMPANY
. that the net earnings had been absorbed II
necessary repairs. aud rs the stock of the com
, | pany is owned one-half by tho bankrupt Cit
| Of Glasgow Bank. and one-half by the Chicago
, Milwaukee and st. Paul Railroad Company. tn
latter did not feel justified in making any Rd
| vances. The affidavit Of the auditor Of th
. | company furnishes the following figures: