The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-27
FINANCIAL AND COMMERC iAA.
MON IN n A III X X ..

TIE moaey market continues rltno1 much ai.srs,ol.
Inc supply IA abuntani vasa hrst Class securities
oisfed, but raano b. obtained wts,u,, srceps vary
hsn rates OF Interest The shpnsos Of speose week
we're con- paravey args, All .hs ynenh tnio tkec5
Ireasnfy were larger than before reporte4 for
many weeks In the s.ook market ther. has rot tsea
any very important The caaase In the
rsgemcnt Of the Erie Railroad Company soout the ony
Item oil importance. Tho party power tia,
psuy REPRESENTS the bcniaolders n.eresH Tho stock.
hoider have do voce in ae change IN the great n
in saises -hs pay mont Of S.5 0oo per snnu %
the President OF bankrupt railroid company matter
In hicn tho stockholders have aoi been consulted 1t
has been known Tor time financial circles OF
Wall rrett that the Erie RalrOai Company w upon tie
point OF protect The old management had exhausted a.
sher rssoyrces al the company cred Ill is and
have beer obagei for irng time 20 get the eopany
cepiAnces endorsed By Individuals OF responsibility
to rake money at any price. This state OF things
represented 10 the bo11ho dss in Europe aad they be-
came much alarmed. appears tat OF the 1852 bord,
ABOUT three and hall million OF dollars held by Mr.
Norao, Ia, rev President, And his German aui Swiss
fr!ends These bonds secured by mortgage ana
therefore occupy precsrous position Upon the receips
OF the un.avorable regarding the Erie Railroad
finances in Germany meeting OF the largest bondholders
vas held IN Berlin to consider The condition Of things At
TIA, meeting il decided 10 send out Mr. Moran pro
ect the Interest there represented The condition OF tho
company known 10 be yuch TO make II absolutely
Necessary thai repr thu lasttass bond
hoiders saold, possible De put into power, 10
prevent oiner parties from getting tae advantage Tbs "
the whole OF Mr. korans mission to this country and his
COLE object in taking rs presidency. The road is now in
fact, managed by he last Of boadhotsrs 1t is
cessary keep the stock alive 10 reconcile all the
interests involved. Mr. Moran found the com
hiz nrrivp rnreh amba saed or
required pay the LIST OF August interest
about 500 Cor the 1s' OF September interest This
amount tue Old management; found difficult 10 ar
range. br. Moran ard bis friends sgreed TO raise IA,
required tum II the directors would give ihern the
control Of the road, &c This offer gladly accepted
even upon the condition that Moran should saa
ny OF $4,000 per annum. Dir RamsdeD, the president,
and Blr Drew the treasurer willing 10 give no at
Any momeai to the party, add the change made
ut The management will have entire
troll for learn that the old directors viii retire
az they get out NJ. Ramsdell and Mr.. Drew will
leave al They have sor long time been anxious 10
leave the Board OF Directors, and without
abandoning any trust copnted them The stockholders
OF The Efie Railroad Company undoubtedly iEarne they
Claim upon the property and pgs OF that
coacern, but We can azure then that Is merely nom
pahA Tor prod uctyeness the stock moi worth dol
lar PER share The road will be managed by the las,
class Of boudhoder. long they squeeze oul the
the interest, These bonds due IN 1882 and is for the
holders 70 reain II possible the management so ss to Sc
sure their pa ment q, maturity To do this they viii have
TO provide for the 1859 bonds and al the present
cumulatipy floating debt The cornerng combination In
Michigan souihern works very lrrcguary At the close
yesterday the upward movement pretty strong for cash
stoCk while for sellers option there improvement
preTous sales The par.e. engaged In tbs artificial
nHalon will very 10 glad 10 cell their
paraysy very low prices For the moment the shorts
pay pretty vel for the stock, bat every delivery
Increases the oas OF the combination and hastsns the
grand eorap.e IN New York Central there ooaste
ratc bGoysncy the close OF tie week. but the stock
plenty and freely offered on time any option to suit.
The anIe,ed statement exhibits the amount Of specie
shipments from ihis port nat veek-