The New York herald., 1869-08-27
FINANCIAL AND CONNER GAL.

winch suddenly came forth from us long quiet and
inactivity to again its old attractions for the
speculative fraternity. 1t will be remembered that
under resolution OF the Stock Exchange, adopted
last winter dealings were forbidden In Erie until It's
stock should be registered III due form-a proceed
sD4 which the directors would not be forced to ADOPT
Hence Its expulsion 10 the National Board, an
organization OF brokers exlcmporized for the pur-
chase and sale OF Erie In particular and OF otner
stocks In general. Time passed and Erie quietly
slmbered in its nonreglstration. meantime tue
New York Central party had been planning Tor a
consolidation OF lines reaching to Chlcago inc
Michigan Southern partly controlled the railways
between Erie aad Chicago. They listened to the
proposals with great attention. The New York
Central party controlled the little strip OF track
between Erie ana Buffalo, so necessary to the
Michigan Southern party. consolidation OF this
strip was made with the Michigan Southern. The
New York Central party thus lost tho key to the
situation; for the new corporation known rs Lake
Shore ana Michigan southern now owned the whole
line to ual0, where they could coquet with either
Central or Erie and dictate terms OF consoll
daton In connecting New York with Chicago
Originally the the plan was to connect Chicago
with New York; out the stockholders OF the
Western roads have reversed the programme
and are uniting New York to Chicago
Pending these propositions from New York
central the Erie clique were hard at work
They wined and dinei the Michigan South
-crn party at the lower Demonlco's. and
brought every argument to bear In favor or a
.uaioD OF the two lines Tue Michigan Southern
party. knowing their power aud position In the rail-
way SITUATION Kept both applicants supplant for
their fayors. Finally, through the modifying innu
ences Of Joint speculation in Toledo and Wabash
and after the requirement Of the registration OF all
Erie stock now ailOat, aniagreement was reached by
which the two lines are to be worked as one. The
Erie Company are to lay third rail from Buffalo TO
New York, the fluids TO be provided by the issue
of S5,0o0,00) Of bonds, which, as they are a
lieu the earnings OF the narrow guage, will
not Increase the Indebtedness Of the Erie Company.
The Atlantic ana Great Western line shares in the
arrangement, as 1t forms loop between Salamanca
ana Cleveland. However, as Gne of the objects Of
Peter H. Sweeng's visit to Europe Is supposed to be
the quiet purchase Of Atlantic and Great Western
stock, tna absorption OF the line by the Erie Will be
tue eventual result. The registration OF Erie is pro-
missed AT an early day, SO that we may soon expect
10 hear Its familiar name more IN the old
stock Exchange. or course these circumstances
threaten the defeat OF the Vanderbilt plan Of con-
soldation but the Commodore Is fertile In resources
and viii not sec his pet scheme fail so easily. He
has the direct route via the Michigan Central The
objection that Great Western of Canada out Of
tue United States is met by the fact that
the road was built to connect with the New York
Central The suspension bridge at Niagara ana the
ferry at Detroit are the only interruptions by this
route but the genius Of the Commodore would OBJ
viate them should he select it for his consolidated
line The stock market fuctuated under the inlu-
enee Of the various items Of information to which
lhe street was treated, as above, New York Gen.
trail sold as high as 2o5. but fell OF to 2025s, and
HUDSON River touched 1861. The range OF the
leading stocks was as follows, the market closing
heavy and declined:-New York Central, 205 202A;
Harlem, 1601I q l59H; Hudson River, 1861 q 1888;
Reading. eo3i 95X; Michigan Southern. 10l 1o5I;
Wabash s3S 82A; Pittsburg, 104is 1031s; North
WESTERN S5S 63H; do. preferred. 96 95i4; Rock
Island, 1142s l14x; Fort Wayne, 80 q ss4; Mil
waukee aud st. Paul. 79ys 7sla; do. preferred, IS
sa,<; Ohio and Mississippi, S23s ak; New Jersey
Central 1864 a lo5; Hannibal and st. Joseph. l22x
= i22h; Western Union Telegraph SIX 81; Pacific
Mall 81 a 1873; Adams EXPRESS 81 50A; Wells,
Fargo J. Go. Express, 1SE u Is.
The money market was irreguiarly reported, manv
stock houses being compelled to pay the full! legal
rate on call loans. The transactions at six were,
however. numerous enough to make the quotation
double, that IL, from per cent. some of
leading government houses obtained exceptional
sums at i've. Commercial paper was in better re.
quest, particularly Tor the shorter dates, and the
movement might almost be termed brisk. The rates
Of discount we're without change, remaining
ut nine to twelve per cent for the choice
grades. In tue foreign exchange market
transactions were limited and business dull. The
advance in gold would tend OF itself to arrest buy.
ing, especially as there is no steamer Tomorrow
Tho range OF quotations was as follows:-Sterling
sixty days. commercial, 1854 q 1924; good 10
prime. bankers, l0s3s 1Oesi; short sight, 1o97i
n ii0H; Paris sixty days, $40 SIS; short sight,
.is,< 5.12ts; Antwerp, $40 6.l1; switzerland,
b.ao 5.15; Hambarg. s53s s57.; Amsterdam, 4oA
a 4OA; frankfort. 4ok 40,x; Bremen. 7sts o 70;
Prasstau thalers. 7oX q 1)&.
great deal OF interest is manifested In the result
oi the tutor-unlversty boat in England
row, aud the stock operating fraternity have
wagered large amounts tnereupOn. The odds were
An favor o, oxford on an average Of about I'VE to
four. A iow small bets were made even.
Governments were strong with the advance In
gold, but lrices ranged with those in London, where
the '8e's were stronger and the 1873 shade lower.
The foreign quotations were made on the price Of
gold this morning. Transactions were moderate In
amount aud the market steady. The following
the closing street prices this evenng:-United
states s'xes, 1881. registered. 123 1884; do. do,
coupon. I23 Q l23k; do nve-twenties, registered,
FAX 1221s; do. do, coupon 1862, 12s 1234; do.
DO, coupon, 1894 1217s 122s; do. dO coupon 1896,
Igl1s l221s; do. do, coupon, new, 1865, 1905 u
I2os<; To. do, coupon 1867, 1909 1911; DO. do.,
coupoD, 1868. 120X 1908; do ten.fortics. regis
tered. Il1 Ill u; do. do, coupon ll49i Il5 cur.
rency bonds 110H . 1l0X.
THE Assistant Treasury at this port purchased one
million OF fve.twcnties to-day for the sink
ing fund. The proposals accepted were Of
the lots and at the prices foiowng:-
$1,000 1885, coupon. at 1a.4s; $4,000 1857.
coupon, at 1852; $4,000 1864, coupon, at
1la70; $4,000 1885, registered, at 1853; s2I 900
1858 at 1850; $4,000 1864 ct 1850; $4,000 1884,
registered, at 1923; 100000 1884, coupon ut 11sH;
100000 1865 coupon at 1850; $4,000 1885, regis
tered odh at 11s.70; o,coo 1866 coupon (newl at
1000; 100000 1865 at 1851; $4,000 1865 ut Ile6a
$4,000 1852 registered at 1850; $4,000 1862, reg.
istered, at 1880; 325.Ooo 1852, coupon tncw. at
Ila.6s; k25o0o 1865. coupon tnew at 1911; $4,000
1864, coupon, at 1l9.64; $4,000 1892 registered at
nA0 L0ldi q on n0n