The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-06-15

Kan Pacinc.... 81, say weii. Fargo Kx ss,A, 10
H Sss s sss 81 & SSsi;s;'y::ffDd j.. -
SATURDAY. June IA.
There was a dull and rather torpid stock mar
The decline Of New YORK Elevated shares VIC to
164S. against 1870 bid al tho close yesterday.
under reports Of what Mr. Vanderbilt will do in
were q generally stronger. Illinois Central adj
mnced II; New York Central. y. Railroad
cined sharply. There was large business In
Huntington. Cedar Rapids and y. 1st So. Gov
ernments we're dull and weak. State bonds
more salable. with more Improvement in Lou
isiana consols. Money on call 3@4 y cent
Imports Of general merchandise for the week
shows a decrease Of s2.04i 100 in loans and
5i2sgJ ~ SPECIE and nd an 1o increase On -
.6 in hG ~ MI n rS GENESIS ana
reserve.
Gas stocks are quoted; New York 81 to 100;
Mutual. 70 ta rs: Municipal. lis to 100; Brook
Ign. 100 TO l27; Jersey City 1875 to las.
-. A dividend Of 81 y cent. on the stock Of the
will DO paid July l. This stock was offered To-,
day at 975. on the same rumors OF n competing
uynderlTound railroad. to be constructed by Mr..
\. Elevated Railroad Company.
Atameeting Of stock holders OF the Louisville
and Nashville Railroad Com pany held at Louis
Louis and Southeastern Railroad was ratified.
and also the contract for the purchase OF the
iirst mortgage bonds OF the Montgomery and
Euiauh Railroad Company. In regard 70 the
first transaction, President Stamford said that
the company had secured for about 81. 600 600 a
mn at eat sgo np W %th an ms ea4 Sfg
capacity more than ample to pay all the fixed
charges upon the qcduisiton. In addition, IL
would add 20 the value Of the property Of the
company. in It's protection from cutting Of rates
the sum Of $4,000 to 100000 per aunum. As
Sewcomb had bought the bonds, anu. TO make
Unier had, on their own credit. borrowed a
million dollars. and after much trouble had
brought home nearly quarter OF n million Of
dollars and thought thai $50 uO0 more would be
gained. They did not buy the road because
they thought IL sold too high. They had not
spent cent. and expected 70 get all out Of the
road they wanted.
Among the bills before Congress Is one au-
rhorizlng the Secretary 81 the Treasury aud
Postmaster General % sell az public auction
on or before April /. 1880 the land formerly
occupied by the Post Ofiee, in the city Of New
York, provided that they shall not sell the same
for a less sum than $3.50. 600 aud that out Of the
proceeds OF the sale they shall reimburse To the
New York Chamber OF Commerce $4,000.
The Philadelphia moneyed institutions are
overstocked with fractional silver coins. one
bank alone holding 800 600. and tits estimated
that probably $4,000 OF these coins will be
presented as soon as the redemption begins.
The new Pennsylvania Tax law imposes for
State purposes. tax upon financial corpora
tons OF half 3 mill for each ono per cent OF
aggregate than three mills per annum. Rail-
roads and insurance companies arc 10 pay
eeips Coal mined IS taxed ihfee e" cants peT on
July. 1881.
This is the way Western telegram describes
he recent cut in passenger rnfes from Kansas
City eastward: About noon the 81. Louis Kansas
City and Northern tumbed the rate down to So
Pacific hung out its banner 10 read as low ii not
nwar; and then came the Chicago AMI Alton
with the announcement that tickets 10 ChicnEo
and Il. Louis would be sold at tho very lowest
rates, About 5 o'clock the Hannibal and ST Joe
knocked the bottom out Of everything by hang
4 u the roads then tumbled 70 the racket u tie
Hannibal and -: Joe. and the bottom fell out Ot
schedule prices.
The London Economist Of this week saws:
Bank bills. 60 days TO months. are quoted at
l. 2 srnt.. and trade bills 60 days 70 months
az IsE2 cent discount On the Stock EX-
change business Is sull on a reduced scale
The most striking variation % the week was
~ cent. recovery In EIyplIIans' Bank
telegraph. gas and tranway shares are also
out % favor. In the foreign market Italian
Austrian and Hungarian securities reiap=cd
iinentai boura~s after tina recent period
Of imitation. The vnrious South American
Issues have shown dullness and the dealings IN
Unned stairs Governments have bern more
restricted. Russian securities revived on the
success Of the new loan which is in reality
lunIlng operation. The principal variations
IN United States railways were again an the
favorable side. Atlantic and Great Western
THE Western extsusionl bonds are cent
higher; Philadelphia and Reatng general
mortgage bonds. 2 2 cent. better. and shares =
cent. better. Penns ylvania Railroad and
New Jersey Central shares have improved l =
cent. Erie cent; Illinois Central shares
and Atlantic and Great Western mortgage
bonds. on the other hand. have shown weak
ness"
Or,iuna, Carhoneli & Company. Wholesale
Grocers Of Havana. Cuba. hRva failed. Their
Liabilities are said 20 b. about 10000 gold.
The Jersey City and Albany Railway Com
pany has given 10 the Union Trust Company u
New YORK a mortgage on its property Tor So.
OOOOo, 10 10 used in constructing completing
equippng, and repairing the entire length u
tie road The Trust Company is 10 act as
trustee and to issue bonds therefor in sums of
$1,000. due in 1909. payable in gold and draw
Ing per cont INTEREST The mortgage was
received in Albany yesterday for fling.
The subscriptions 20 the per cent refun,lins
certin1tes since yesterdays report have
amounted 10 s33.s70 Total 10 date. $50 SIS s2A.
The quotation to-day IN London Of silver Is
b24d per ounce.
The Treasury now holds Ass. 464 7O0 in
United States bonds 10 secure hank circulation
United States bonds deposited for circulation
ior the week ending to-day. 81 .4oo; United
states bonds. held for circulation. withdrawn
during the week ending to-day. 81 500 jOu.
National bank circulation outstanding: Cur
rency notes, tS2sa2t, S97 gold notes. " 467 500
A report was current in Montreal to-day that
the h-rehsnus Bank had negotiated through
the firm Of R0bert CaSsells 4 Ca brokers Of
TINT city for the Quebec Government a loan OF
$500. 900 in New York.