The New York herald., 1868-02-24

cannot but remember ths for some years past no mas
been identified in oil bis business transactions with ths
leading spirit Of the Hudson River the Harlem and the
New York Central companies, nor doubt that he has
submitted himself 20 in1~ercss inimica to his
company ana the iut OF its stockholders which
he vas bound protec. ey admit that he and those
associated with him may possibly have the power to
prevent the Erie Company from extending its line
conpsctens any further West and from completing the
work which Is 10 establish . through broad gauge
route from New York TO Chicago ana for this reason
all the directors Of the Ere Company with the excsp-
tion OF course, Of Mr. Work himself united in their
determination the litigation begun by him ana
TO defend the much abused speculative director from
the attacks that have been made upon him and the
company he represents The rival trunk lines must
leave sne Ere alone and withdraw their SUITS say tho
Erie directors there will be war 70 the knife and
there to be doubt whatever that they
in their intentions The Work party the other hand,
say that they are determined not to compromise the
suits they have commenced and that the Erie Company
must not build make itself liable for the cost Of build.
ing the proposed hundred miles OF railway from Akron
10 Toledo order to establish the gauge
route from Jersey City to Chicago. The stockholders
generally look forward with apprehension to the
result Of litigation. and would like 10 see
the quarrel between Mr. Work and Mr.. Drew patched up
pobsoios ocs'oI
to bear the evils that We have than fly others that
know not Of" With regard 10 the broad gauge project
to Chicago there be doubt that carried
will be ultimately OF great advantage to the Erie Com
psny. although wiii while add to its liabilities
and expenses without increasing its income; and in
view OF the monopoly which Is beng established by the
Vanderbilt party 1t Is clearly to the interest Of the Erie
Company to extend its connections westward, that
the opportunity presents ITSELF for 'there is tide In
the affairs of men, which. taken at the flood leads TO
fortune; but. omitted oil the voyage OF their life is
bound in shadows and in mseries" II Is only right
that both parties to this contest should receive fair
hearing. and that the public should be allowed form
its opinion Of the merits OF the which
in litigation
Utner stocks sympathzed but partially with the break
down in Erie, those OF the Western railways having
been the mes but at the last evening the up
town Exchange New York Central offered at 1893.
while the sales OF Erie were at 69% Ths bear element
on the Stock Exchange is for the time being,
in the ascendant owing the demoralzng effect OF the
unexpected Of Erie and the prevailing apprchen-
sion that it VIII go considerably lower before II finds any
strong supporters The unavorablc character OF the
last bank statement also tends TO increase the courage
Of the bears. while II impars confidence among the
bulls II IS noticeable, however, that the Sub Treasury
balance has increased considerably during past week.
and much OF the decrease deposits may be attributed
to this source the drain westward having been appa-
rently light So for the condition Of the money
ket s concerned, the bulls Dothng TO discourage
them for tho supply OF loanable funds is abundant
at five per cent, with transactions here and
there ut four and six per cent, and IL Is likely
to continue so for indefinite length Of
tire to come although tho rate Is likely TO be
generally six per cent for call loans than has been Of
late. The transactions in government securities were
a limited scale during the week. hut the market for
nom was very steady in tone and the present advance
In gold will doubtless stimulate tho demand for them
both domestic and foreign account well as the up
ward of prices the duh spoil having already
lasted longer than usual and the higher the gold pre-
MUM stands the larger becomes the OF interest tho
gold bearing stocks carry in currency.
Alta meeting Of the directors of the Cleveland and
Pittsburg Railroad Company, held on Thursday. tho fol-
lowing resolution was adopted
That meeting OF the stockholders OF this company
be and the is hereby called meet at Cleveland
the 26h day Of March, at ten O'Clock NJ to take
into consdera ION the capital stock of tho company
the amount, or TO anv part Of the amount, Of
ings used in construction; also the propriety OF
soldang leasing. operating their road The transfer
books will close on the 18th inst, and remain closed
till the 27th OF March inclusive.
The value Of the importations OF dry goods at this
port the week ending February 20 compares with the