The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-09-11
FiNAK GAL AND CONNER GAL.



There has tssn very decided Grange ia the stock
NAH e, curing ths past week. The bcrs after long
period of have been obliged TO stand aside aad
give the bulls chance. All the fancies have advanced
in solid phalAnx, they present front calculated
to ipm cate any ordinary sized bear; but we no
Signs of fear on the part OF that indomitabe animal
and there is very little doubt bu. that h will come out
top Of the heap yet Ths rsp.dty with which thcy put
cut contracts aoy terms suit buyers shows how
strong their faith il In the future how little the
present Initiation dsturbs them. The bear party
somewhat reduced by dssertlons from their ranks but
those left have, amidst the recent RISE operated steadily
for far, ana II they have rope enough win string up
the leaciDg bulls as high Hannah Such must be the
result OF the expansion 10 tho natural of
tbbg 1be idea Of permanently naatitg such stock
IS Is ridiculous and be only entertained by set
OF specuators whose sole object Is to draw in out
eide puchs sers. at high prices, TO relieve the market
Of the ga weight OF stock press ing upon It.
sgo Erie was selling 81 thirty pee ceot ut the close yes
teroay It was In demand at forty per cent Tho demind
however, came frem nation of operators whose
In mediate interest Is that the stock ,uld ayance
When they get all they want they win stop buying and
endeavor TO tel IN. it il impression that custo
msrs will be scarce, and that they VII have TO keep
their surplics 1t IL admitted by tia ,s sangune and
reliable friends of the Erie Railroad Com thai di
and the ability Of the road pay it's operating OK
penses and interest debt Is doubted b. many
notwithstanding these things, the stock selling
at forty per cent, .his the convertible bonds taking
Of every share OF stocx selling az sixty
Ave per cent These Inconsistencies sho~ taat the
ket value Of the stock purely speculsigs and sustain
ed by operators in Wall street. Eric Railroad stock is
worth moro to day th,n the STOCK of any cher
divide nd paying company; and but for the bulls nd The
bears, would settle down much loEer than Hllem
Long bland II may be well enough for sp callcrs 20
deal in 1t as fancy tut II any outider buys it NTH
the expcc atcn Of getting dsidena du'ins his ' NJ
will maie great mistake. There is about fanny stock
generally more or less doubt as rexarts their pro
ductv epes and spectators bevs the full benefit of that
doubt but so far Eric Railroad is concerned IT Ia
fixed fac. thai IT is mor'sasei for m re thaa l.
il wor,h-is 1t is goLe is f,,tiug dc,t mast
ultinstey p.ocuce COLLAPSE Ia The Shals concern ia.
inf ion Of such stock, under existing erci instances
10 the height Of folly and those sng1gei In tis
mert viii ply dearly for 'heir :smerty. II Is o.
present all sunsh with the balls bnt oesore tho lapse
Of many days dsrkn and 81 will b. upon tbs IA
of the street If men sill bay such trash they must
tale The qnences 1t Is belief that this next
dip in Erie will DO 70 lower points than hive yet been
touched. The game going is confined entrsly %
Wall street. II commenced and viii cad there without
disturbing any outside interest.
The active demand for money and the enormous ship
mepts Of speci very unfavorablc for buyers and
holders Of stocks The future IL filed with eveots
at sll calculated to streng hen public confidence.
II IL the time for al to contract and husband their
ces, instead Of involving themselves In specu
lsons and locking mp their funds tho most worthless
fancy stocks the market The banks are pursuicg
cautious prudent policy and thcy siss ia doing
An expectation Of ono and half million of dollars per
week should create fears and spprchensons instead Of
speculation and exp ssior The following statement Of
ecie exports does not look though the weekly
bank returns would give very eatisf,c.oy exhibit
sHIPSrsr op srrc1a FROM THE Poar or NV Yonx.
stesmer Aria, Liverpool American gid ...S3li 900 %
d.. do. U. gold bars. -. AS e57 "a
90. 90 Mexican silver ..... 30 7i5 90
DO. do. Napoloons ......... $3.50 90
Stesmer Washington, Bremen so' bars. -. 2ssso5 90
90 do. French gold. 1893 81
DO. do. silver coin. 100 81 10
Trsvlous, re o4tcd III 1854. .,........ 2;7o5c1i 60
LotAi ID