, 1865-06-06

The Latest Excitement In Wall .Sifeee,
TFrnYn UafnersR Tehf1y7

"
Tie excitement Of the day In Wall street IL
the fight on Erie. Millions Of dollars arc in.
Tolycd, not only to the combatants, but "a
peaceful outsiders who happen to have invcs.
ted money In the stock. The belligercnts are
two Of the greatest ananctera Wall street has
ever knoTn-the one, young banker Of Pc
ternatural eagacity and ehsewcness; the 9TH
Ct, a veteran operator, director In the road j;
both worth their millions, and commanding
other millions from adhe1ente..
In 1880 Erie stock sold at S share. In
1868 1t sold At $l28. In 1866 it sold
at ~. Since then at e65 and since then at
$6s. People in the country, who don't read
no idea how much romance, how happiness,
how much agony and heart ache, how much
prosperity, and how much ruin lurk In these
figures. a, who bonght Erie at &5 and sold
At Sl26 OF thereabouts. made great fortune.
3, who bought at $1ss and sold ont Of III or
$50 and sold above $50, did very we'll indeed.
Az wife, bred In poverty, faunis her diamons
In our face at the opera. BE children have
been obliged to leave the expensive board
iug-schooe and college ut which they were
beng prepared for fashionable lite, and hare
gone to work out their own livelihood In
Etores and Offices. C's hm11y begin to think
that they can afford to 60 to Saratoga, and
that they cannot afford to keep up their 3ntt-
macy with their cousins, who sell milk The
whole becanse Erie sroald fluctuata 20 wildly.
IT'S not many months since the leading d.
Eectors Of the Erie pronounced the company
bankrupt. It had been bankrupt before
hopelessly bankrupt--aud had passed, in due
died worth hall miilionj, md had s been na aui9
reofgaulzed. Just then a tidal warc Of M.
tiona' prosperity struck the drifting concern,
CT. It paid It's debts. It begun to earn
money. One day 1t astonlahcd people. It
pa}d q dividend. The old heads in Wall street
g1oW1td, and predicted that 'twouid be the
last, as 'twas the FIRST Tor many years. Young
eE aud more hopeful men saw no reason why
and the eea-brard-.should not become per-
manent1y paying property. They predicted
that The stock would rise to par. This In
sane prophecy vas treated with the ecorn it
deserved, and the credit Of thoee who uttered
It suffered severely. Still, somehow,
announced, and the stock did rise not only to
par bat to twenty-eight Per cent premium.
L then became apparent to the old men of
Wall street that the world had not stood stM
for the past four or five years, as they had as
6urned, but ihst 1t was constantly moving
questions arose. The late president Of tho
Eric had always believed that the war was
going 10 end In sixty days, aud has scofIed Ut
the idea OF buying Iron when gold was a
premium. Thus the road, In ratiToad par.
lance, "'an down." while simultaneously
LIZ snI III etase " .tAI usGeaa.oseu " t9e WIT
4no me opening Oh tne Atsantic ana Great
NesteIn,. caned ior an increase Of
eenfdence Of The i Eric % msnascrs e In IN
the carly restoration Of pence and
fall In gold. that purchases Of Iron
anu ~ s4uspaltnL Hgte postponso, nnLu 81 last
W oatisloh supe1htsneent t1teatenso 70 y
siga i a;s unrss ~ once nSeaea Ieents He5e maae
aau an' e9n'o.aae,n' saPp,setu H. 1ms ote9ga. mas
t.s,ea nas ~ @ nua !oSU,Iosases ana @ cals con
..nIa y n2o s15 !" nns, m On tog nasis q
fu,u ~. a. - - = usu. " eons 9s s1 niiiuon Gol,
t4a E "as as3 aau no1eaus ncic p!oe.aso
~. III Past,os -. S.oeea - losls Hen .n hep. n
Gup.sE @ 'snoiance @ u .uo iae9 unlA oisaeaa
fsat the r1ra TT
COMPANY, pan *nea .a hao done Done snca n, nns ousl-
Ises sata9 an9 ~ ssSa19 H!aeeu ns stoch on tae
Nv s,slusaa iay,nE tn*' ". w onss @ moIe a.agi1- r
De 1nuer noAuns aeDtt anu seemed 20 oe
1mSt1s 1up,e1s s1"sn' 'os 'ne DID na'0of-oanh*
1hs stock ha9 1aa hnstnsted @ before th,s d!sco1-
~ oe1"ccn ~ ano ~. y no" leu stea1i'
y. #An is" reactions. t6A Fer cent-the
tieaoang opt,rsato1s On 11e heer s1de being an
mnaGanal nt; oliect9sl In tne 5o@o aha tne banKI
rsssiously men uonso. beioIe rcASaea At
eaH- as.'n ~ h.'fsz ~. s..e.s ~ ~
~ s4a,t tou j :" Jshet6 I'M lecoSJ n tas
e1oiN - za "aa poss1o, toa. ~ e s4atns y. ~
t.o,,,S. tt;.i. ba d;s,ar 1uu aAs s nns ~ VI
f.a uouie ~ mIs ha' ~ ~ ~ Mnas, tosle
al ~ ~ ~ aeea,. a19 I'LL IL 44saos c'aa "
bI,r ~ ~ aIT Ii,astc. ora. psopo m"no W
nao .e1 s,,.rni,a WI e. ~ eIo.!s oaa ue.
. ta..a - taS1 ~ f ooaEa. 1as8es " Luz
lsus ~ ~ ~ noM ~ ~ ": ~ = f. =.
S,nia ~. 'ne pA u NY fePssena sn,a ~; tae
~ ~ than - ~ LEI u'sn17 ~ aaonc eotu niut ~,
,s us eaatte - " aooui ~ AZ NY ia,e. Ae
oogsls enonga 70 tuin tne t.oe q speTutatlon
~ W.! suett, 70 ol1nE numoe5 o. mnos
pea!s 70 e1nagn Pualenment, ano 10 lafgoly
e"Ell Ene ouu pnalau1.
NoI "as n's opponeMl oe1iEu mm ~ qolctS. g..
ness q peIeepllon. ..scIy lew aays a!tel tns
EGa1 ~, ~ e.o5 nau anaue A1s ~, asst pu ~
Ge. ~ taGher 9seuteA: aas e5ee ... nao ".
ean ~ iot.3' A. ~ s4leo ; ,a'.e III s a. ~ ~
% ~ Eil5 Ia IL peIas. ~ ~
Soltuienees, ~ !a1 a. ~ Sooa 9e sslntGtGau :. ~
~ ~ - ~ ss W. auuGiu1 1ti.t ..s ~ -
1I ~ " say mA4sa ~ t1e paH ooaas s,as+ uoss ass
Gn1 a. =. ~ ,;t.f S a.;ssd III -
1nrst r. a ~, ~ eAu LILY 141t'e 1s1'o 4''4 '@A
II Is f,a Il % ms,,.ot ao.,,ea IN bce,tatr Tnn
+11r cns si5a % 1ans,1x ~ -. 49, - and nrnnased
to rrma;n ~ s ~ Ella F4H ~ sscetnta f4r Ami
were H 4:e IN am nron;ssd IN h. Il 561.
coo for May: at vhIcb 1ate nf earninre. ex-
penses falling with the fall of rnld. ths com
pauy would ind no diff1ca,1ir r i'isnos,nr az
its floating debt without suspenJtnv Givl.
depds. But, on the other hand. tbere was an
obvious absence Of bpviur IL tho nuhlc.
The fall from 12S 10 a, and the Gloomy pre.
1f.t3nu. ~ bnprrnu ~ 40 .rbtnt, l. p a..1