New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-08-06

Michs& MIS-. r., 7p.c. lol AZ d Mn Isl MOTT. 90
chic W S. Fd w. g ONO and Mss cS%sC 80
Alton. T. II I'd NJ Inc Sii Mi. &st. Paullst Mge 92
Consol7 ct eonvble 20 Marietta Cln Isl NJ w
Consold7p. c. ex. BID. 81 Chic NIL lst Mort W
The fluctuations of Erie have been quite wide
selling at 56aGl. The lowest price was made early
in the day. and as probably all the weak holders re
closed out the rally was natural The losses on the
fall came mostly on weak houses and friends Of the
direction outside the street. but little Of the stock
has been held for the last year by the larger houses
either on margins or as collateral in loans it ceased
to be accepted by large class Of money lenders at
any price since the sale of the last ten millions of
stock. The common stock is perfectly worthless,auG
is very dangerous TO sell buy at present The man
agement IN DAYS past have not scruplcd to use the
funds of the COMPANY of which they were trustees
in stock sDeculations and it would be expecting too
much of them to refrain from doing so now should
the exgencies of the street require 1T; the receipts
of the road are now $4,000 per day, and should a
sufficient short interest be made in the stock the
earnings could easily be used to purchase the stock
and give a sharp turn TO the shorts The payroll
could be carried over for or two months as has
been the case often enough before, and the present
holders he enabled to market their stock, after hold
ing it long enough to porpetuate their rule next cleo
ton Left alone where it now stands Erie falls into
the nanus OF parties VINO nave blecullucl upoh liio
Company for years, and made large fortunes. 1t is
now poor and overburdened with capital should the
stock TO be called at tho Stock Exchange to-
morrow it would gradually sink away rs did the At
antic Mail from 90 TO 49, and the best thing to do
with the stock is to let it alone and let the present
holders bear the loss that eventually will fall upon
the holders of the common stock.
Money is active. in consequence Of the unset
! Ting of loans and confidence by the break in Erie.
The rates continue at 3a5 per cent The latter is
the general rate the street for call loans although
frst-class houses who are known to deal in Erie are
supplied as before at 3a4l.
Sterling Exchange is dull and steady ut quotations.
London. 60 days, 1Oa1lO. do, sight, llOs6llOs :;
| Paris, long 5l585l3t; do, short, 5l9la5llt Ant
werp 5.16.051j Swiss, 5.lGIa5l5i Hamburg, %t
a36l; Amsterdam. 4l.aHa; Frankfort. 4l@4ls;
Bremen 79.G79!; Berlin, 71.Q72.
Freights to Liverpool. by steamer, 1900 bush'
Corn at sass. d., and 900 hhds. Tallow ut Us Cd
To Glasgow, by steamer. 800 bales hay at 4Os. YES
sci with $500 bbls Petroleum to port in the Baltic
at IS. Cd.
The transactions at the Office of the Assistant
Treasurer were: Recepts-For Customs, $jO7,o0O
for Gold Notes $4,000: total Receipts, $!fr'-
sol 50; total Payments $l33l,lsO -; Balance s'o-
/ 5S2 COL ~.
/ One-half Of tho Canadian 1nter-Colonia
Railway loan has been negotiated in London
amounting to cl.jOoO0O bearing the home guarantee
AT per cent and c50OO0O bearing the colonial guar
antee at , per ccnt-the entire amount having been
taken bv McsSrs Rothschld at 1853, except tf3ao.
Tho subscription is 10 be paid in nstallments, as
follows: 20 per cent allotment y per cent on Oct
g. % per cent on Jan. II. 1869. and the balance on
April H. 1863.
We informed the holders of The Michigan Southern
a..
stock y few days after the declaration OF the dVI-
dend. that there was probability that an inlnnc-
/ ton would be obtained against the payment, and
warning them against being frightened into selling
/ their stock To-day an injunction was granted by
| Judge Barnard on John 5 Prouty's complaint, re-
straininc the company from, paving the dividend,
and appointing hearing on Monday next The
plsintiT represents ~ shares of guaranteed stock,
/ and claimed 600 for bnck dividends The whole
schrIue Il gotten up Tor the benefit of stock i0bbers
short Of stock. and the lawyers. who remember the
fat picl,ings made in Rock Island and Erie. The
whole amount Of cash utrrc, claimed by holders Of
guaranteed stock Is only Sl0SGO, and we would again
! tell investors who now hold majority Of the stock
! that rs in the case of the North-Wcstem Railway
this dividend ~ per cent will be- paid in cash adj
vcrt-cd and not 10 sell their property mt discount
for the benefit Of sreculating courts and lawyers.
/ The telegraph report by Cable this morning stating
!
than an average cropIray be taken with considerable
allowance by our iaunels A. 1t wonld not be the
Grst time tlat England by hoodwiuhing other conn
tnes los fa reports has been able TO purchase her
brcadstuils AZ low rates. when it apparent that
! their crop, were short. The English paper, state
that the drouth has been most severe, and that for
I 20 years the country has not experienced such a
season The pras, is entirely burned mp. and in many
sections Of the country they arc sanghiermg the
sheen bv thousands 10 prevent them from starving
Already the expectation of hay has commenced from
this country 81 suppy the needs OF their cattle. The
/ heat has dried up all their small crops, aud bects
turuips carrots. and other vegetables are also an
entire failure. and the farmers will not have these
substitutes % iced their cattle with In tins state Of
Acknowledged fucts it appears strange that the
Wheat crop .ilould be superintendent and entirely
unaffected by the heat and it will undoubtedly prove
that the crop will be- of light weight, and that the
necessities of the country will compel them to be-
come heavy purchasers of our cereals at any price
In France and The other parts OF the continent the
drouth has been severe but not to the extent that
# WAS IN England. The French Government have
already suspended the duty on breadstuiis for three
months This means one of two thmCs-a war or a
short crop Shrcwd men well rpostcd say that 10
means thc latter and our farmers should not bo hur
ried into selling their grain on the report OF an cN
cessye crop in England, but await the returns OF the
| harvest. which is now completed, and see what the
real state of the ease Is. Should this state OF Facts
prove true, rs undoubtedly it will. the farming
and railway interests Of the country have prosper
Gus season opening before them. with at least 20 per
cent heavier crops than last year. Our trunk roads
will be taxed 10 the utmost AT paying rates In trans
porting our surplus TO the seaboard and the farmers
have good market for all their produce at good
| 4 mi for Inv will ia
! the use of the new method of compressing as the
/ L l-..uu Will LII IL