, 1880-05-22
Governments Strong - Chicago
Shipping Currency to the
Country.
The produce Markets Irregular
Wheat Higher, with Widen'
ing Discount on Futures.
Corn Stcady, with Large Receipts-0ats
Easier-l'roriston Decline
Slowly.
FINANCIAL,


dsn4n stock. 1su.nora Of n Hcrftus financial
embarrassment got Into circulation. 1t wns ut
first reported TINT tho rnptr OF the ltendtng
Rai.toah hnd Rone 10 protest. Then II WIS
the paper Of tho Reading CeMl Iron
Company, n corporation owned by tho
Hcnding Railroad. AT lust 1t was tc-
ctu,rd TINT tho Conl /: Iron Coin'
pnny's paper hu,t gone to protest, md that
1t was guaranteed by the Philadelphia 4 Ncn.l-
tnY nntlrpn1. The correct particulars OF tho
wtoe mnttcr will be fuund In our special dts-
patches from New York and Philadelphia. Tl1U
effect on tho stock wns to rt,r u down from *aA
10 30tl, with recovery Mt tho c'oso to II Y.
a panieky feeling was sprcnt IL hughos,t tho
e,.t!ro nlnrkct. Very hcMvy losses liavc been
snadc by parties IN Philadelphia who were carry-
Ing Reading, md rumurs were In circulation Of
important futures. ltondinN sold jim. ut III,
md wna pointed" To W to 10 l'y June.
1hc other conl stocks syr1;>.:.htzctl With Read
tug, and wcro with It the heavlost ioscrs nf tho
dny. Hudson went OF from TN to 10, closing nj
T0N, ltss Of IN. I,acknwnnnn lost IN, to 1Gs,
after selling ut '5H. and Jersey Ccntrnl dropped
from o7ss to l.si, closug mt e,.<.
The lust report Of tho rhllat1elphink Reading
.Ehowa TINT its cas surplus Of $0s, ,;p7.@s', nftor
pnying oxpunsca md charges, hnd to bo applied
IL tho deficit Of tho Rcndlng Coal lrpu Conn
pany. This deficit WIS 81, ,Es, 3d. The cnsh
deficit Of tho operations Of tho two companies
0os.a, nvurtho deficit Of tho previous ycar. Pres
ticnt Guwen In tho lust annual report estimated
thut tho loss of tho Conl & Iron Com
pNny for lY79 would be transmitted into profit
OF $o,JOO, 600 for 1870, and ina1e corresponding
calculation TINT tho railroad would shbw II clear
profit Of $l,700.o00. These estimates ho said
severe strictly within tho bounds OF reasonable
expectation" On this basia be thought II highly
probable that reasonable ca8h dividends could
be resumed" In 1890. His o11ctnl notification
yesterday that tho Conf s. Iron Company hNd
suspended pny1nnnts wns disastrous contradIc.
tun OF his sauglino prophecies. This is tho
first great wreck c,usod by tho collapso Of tho
iron boom, md thoro may 10 nluro u follow.
The, Ncnlnga last report, dated Nov. 10,
1S7u, showed thnt tho Coal j. Iron Company
owed tho Ncadlng lsallroa1 s317H7l9.iS,
and that the lteadlng hold $50 OF
t!lu!r coupons the *8UO,0 900 stook Of tho Conl s.
lron Company, auu tho $ .f1;. 81 Of Its bonds
hro nlso included In tho lsendfnX's captni ac-
count" Tho Heading l,ns atcly been freely
Offering coal under tile market price.
Western Union continues to give why. It de-
cined t.utn NsH to H0!G. recovering finally to
1GH. Points Of mitch lower prices wcro iii FREQ
circulation nbout Western Union. It ~ 8nid To
boJuy Gould's purpose to force down tho stook,
md continue his Mttuck OH tho Company In tho
Courts until be CeElpels II consolidation with tho
AmcrIcMn Union. Thora Is no corporation so
FNslElliOlD ~ nEtutlt llb tHU HEa&SFN AuV
mono whuso stock Ia 30 full OF water. =
Nearly Nll tho aetiyo stocks showed consider
nt,lo losses. good mid bad alike. Burlington s.
Quincy lt,st 9, to III; Nov York Central I, to
l%in: Michigan Central u, to f7&; Eric Z. 10
3s3i; tho preferred lss. to h7}s; Northwestern
prrferrcd !, IL 1oS,5; st. Pnut Il, to TtA, nfter
selling at Io1; Wabash Il, to :p.t; Ohio 4, To u;
Ut. Joo preferred u. to 8sIs; Kansas s. Texns u,
tD t{; Pueblo Mail ts. to 1fts. after selling at
ulsi: C., G, s. !. G. !. 10 lii Union Paetlo X. 10
e.; lr1,r Mountain II, 10 40A; Chattanooga !, to
es. after selling Mt G1S; lIo.taton III, to Gj}s;
Lake Eric l. Western 4, to 2I!s; Cnnnda South
cr1i ea4, to AVA, utter selling ut 4Sh; Northorn
Iaci1e II. TO -: tho preferred =, to ~; Sun
francisco H. toE'. utter selling ut 70: Sioux City
Y, to ~: tho prstcrred N, to T:sA; and chesa-
pcake s Ohio ], to ID.
The gains were fuw and unlmportant. 6an
Er.ncisco prctorrud mado +. to 41s: Louisvtllc &
Nnshyillo., to La; NortAwcst Il, to e0K, and
MorrlR l. Essex h, 10 10Y,t.
Eric second Gs opened ut 601l, sold rs high "a
s9M. us low as eaal. and closed ut RsK.
lsatlrz,nl bonds, In Now York on Wednesday,,
woro fnirly natyo And generally firm, tho Anal
snlcs showing ntt n1vnrcs runEiug from u 10
per cunt. Eric consolidated. seconds w0rp nlost
prominent. In tho dealings, And, nttpr An curly
lccl[nrnf X per ccnt, to H3A, rosu to H9. Wabash
st:conls ADVANCED from Oh to B1; Boston. Hurt
FORD s. Eric i!rats from y71z to %: Knn-
Ems Pueblo assts consolidated from " to %;
do JunO and December from 11GS 10 lit;
Kunsas & Tcrns tirsts IRON l0o1s to 10.: do acc
onds from GAN to b5A; Canndn Southern tlrats
guaranteed frutn H9H to ~; Chicago, burlington,
Quincy - frotn 1:s:H to III: Delaware l. IIud-
Eon 10 of 1881 from 1908 to l07; Iowu Central
tirats from n5A u %; Iron Mountain first pro-
fcErcd sIncallnes from n tu TN; do second
do from G0h to 70; Lake Shore frat cotisUIE.
dated coupons from L. tn ls3H; LohlRh s
Wiikcsbarru aHsertcd froui o. to Daf; Mobile
4 Ohio third dchentnros frn1n ~ IN WI; Matro-
pulitan Elevntcd tIrsts from 10uT u tul}s; New
Jcrsay Central ilrats consolidated asscnted froul
1es!s u 10t3!4; do !ncnmea fruu. Is t.' %: Ohio
Crntrnl hrsts from 45 ~ t5h; lsomo, Watcrtowr
s. &Oglensb,arR tlrst consolidated frotu b6si u
tti; Tc1ns Pacific trcumcs from 6SA
to b1A. Fort Wayno thirds dccIlnce
from 10 to liz; lnltann, Isl0oMlngtoI
T. Western first from ~ III r.; Mobile j. Uhtt
BenoNh dcl,vnturos frHn " 10 Dd; Cleveland
pistsbnrK consolidated Binking.tunds from llssi
10 llS; New Jursey CantrAl iirats convertible
asscntcd trem 1EJ.s to tG:ti; Ohio & Mississippi
Becuntls from l0S tu 1UTh; I.uke.Shoro sccn,att
consolidated registered from i1B:i to lis: Mts
aourl Tncltlc trsts frnH, l08 to l01h; Kansh
Pneltto 1lrts iDenyer Dlvtsion) from 1Elt to 10,
ltocx Island trsts coupon from lib to 1l7Js.
Government bonds wcr0 only moderately act
I've. Tho District OF Columbia i.Uhs wore OLA
hid and Us uskcl; tho United States Ia wcEs
107st bid ind 107ss asked: tho AIS wero l03A4 an
lu9S; the Is 10J and 10o,4; tho Is 1COH and tUl
Forplgp e1chADge wns stronger. With Il yer
light supply III bills. Sterling posted sttes wtr
4oGls A,lI 4e0h. Actual g1ltcH wcrU +B5 and 4Hl
aud documentary sterling wns 4SiSbtsisi
French bankors' ILLS wcru 6s0 and 6l7,t, VI,
Gcrn1nn bnnkcra' bll!s " and a51s. Frrhch con,
,nercial, s1*aoasa. Commercial marks wor'
WA
chlcago bunk cleariuga wore sa,i0Aooo. Cur
fGtlgy Il f,blnH Skinned freely l,y tho Chcuu