The New York herald., 1869-09-15
FINANCIAL AND CONNER ciAL

TINHNCIhI ANO COMMEnCiHL.
TUESDAY, Sept. IA IN.
The process OF mystifying the street. which seems
10 be the plan OF the ciques for the fall campaign.
was still more visible In the stock market to-day.
IL Is another application OF the strategy laid down
In the ancient connand--diciIe et f,apero. The
public are at loss to comprehend the condition OF
the money market and It's propaoe course in the
ensuing three months. The alternate ease and &C.
tivty in the rate on call loans keep them divided
ana confused Hence arise the digtrust and timidty
with which they Invest in any or the shares which
are or should be desirable property. Hence the
least furry Ia the market causes wholesale un-
loading OF stocks. The market to-day "ied or
with the restoration OF Erie TO the call at the Stock
Exchange, the president. Mr.. Nelson, deciding that
the registration had been accomplished, but that
registered shares only could be ''good delivery"
The following letter was read to the members:-
OFFICE ERIE RAILWAY CoMpASY,(
NEW YORK, Sept. IL, 1859.
X, 9. RoLsToN, Esq. President Farmers Lean anu
Trust CoInpany:-
debt anu leasehoid estates, in answer to your inqu
ries OF this date. fhe amount Of common stock Is
he ana "a 'as o. & common sSP ngn
$s,636910. The amount Of mortgage dept lseven per
cent) authorized and ,ssued Is as foiiows:--
First mortgage, $3,o0o00o, extended May 1867
due 1897.
Second mortgage, s4oOo,oOo, date of Issue Marc
l. 1S49, due lS79
Third mortgage, $o,oooooo, date Of issue March l,
1861, due 1885,
Fourth mortgage, s4441,ooo, date Of issue october
Fiftn mortgage, se2e.6oo date OF issue June l. 1885,
due 1885.
Buffalo branch mortgage slse,4oo, date Of issue
The amount Of sterling bonds 100000, equiva.
lent to s+4,4oo date Of issue September ]. 1885,
Under statute Of the state the mortgage debt is
convertible into stock only within ten years from
date OF ISSUE The ten years have expired on oil put
the sterling loan, and as that is selling at par In
London there Is no danger OF conversion.
There Is no leased road that can be converted into
the stock OF this company except IN compliance with
the rules Of the Stocx Exchange, by giving thirty
days. notice, nor VIII any increase be made In any
FORM except compliance win the aforesaid rules
JAY GOULD, President.
H. NJ OrIs, Secretary.
The stock at once became active and rose to Al,
but reacted to a94 In the general decline late In
the afternoon. The whole market, in sympathy with
the ease In money which was 10 be had in great
abundance at seven per cent, became buoyant and
strong after the morning board, Rock Island rising
to 11ss5 and Lake Shore to 1913. An evening paper
is the authority for the statement that number OF
prominent capitalists, among them several large
holders OF the Lake Shore ana Michigan Southern
stocks have been invited by Mr. A. Boody, the pres
dent OF the Toledo, Wabash and Western Railroad,
to visit and inspect that road to form an INTEL
lgent opinion OF the value OF the property Tie OBJ
ject Of THIS invitation Is to obtain the benefit Of their
Judgment In the expectation that 1t viii nave great
influence with the stockholders OF the Lake
Shore ana Michigan Southern when they vote on
the question of ratlfyng the consolidation
OF the Lake Shore aud Michigan Southern
with the Toledo and Wabash, which was recently
made by the representatives OF the two companies.
The party will leave this city tomorrow for Toledo,
H.
holders OF the Wabash stock. Perhaps owing to this
fact Lake Shore was subsequently heavy; but the
street had the report again Of consolidation with
New York Central. Hudson River was strong, rs
the company have declared dividend of four per
cent. payable october Is. The books close on
the 21st instant, TO remain so until FUR
her notice. Is the question OF consolida-
ton to be decided meantime, that no time
is fixed for reopening the booksY Just after three
O'Clock semi-panic seized the market, occasoned
by "break" in Pacific Mail, which went of to 1874.
This decline again unsettled the market, and though
the closing prices were reactionably better the feel
ing was not strong one. The following were the
closing prices at the last session Of the Stock Ex
change:--Canton, 50 q co; Cumberland, S2h bid;
Western Union, 81 o S7]4; Quicksilver. 13H
o l4H; Mariposa. 9H a eH; do. preferred,
1sh q 10; Pacific Mail, 10 q 76]S; Bos-
ton Water Power, 151 q 15A; Adams Ex-
press, SIX SIX; wells-Fargo Express, 1sH;
United States Express, 90 62l4; Merchants Union
Express, II bid; New York Central, 204H 2O4a;
Hudson River, 1s41s 1856; Erie, 401 402.; do pre-
ferred, COX q 10; Reading, o6X e6a; Michigan
Central 12s bid; Lake Shore, 1922. 102Z; Cleveland
and Pttsburg, 1904 ITO; Chicago and Northwest.
ern so,f sOS; do preferred, s9x s97s; Cleveland,
Columbus and Cincinnati, 70 70; Rock Island, 113H
l13A; Milwaukee and st. Paul, 76A 76is; do. pre-
ferred, S5X Sc; Toledo and Wabash, IS, buyer
three bid; do. preferred, so bd Fort Wayne, SIX q
ss; Alton and Tere Haute 80 bid; do preferred,
81 a 5sz; Ohio and Mississippi, s2t4 3216; Della
ware and Lackawanna, 11O bid; New Jersey Central,
102,k 103 Chicago and Alton. 100 1611a do. pre-
ferred 151 1852; Morris and Essex SO; Hannibal and
st. Joseph, 120 i2osi; do. preferred, 117A bid;
Columbus Chicago ana Indiana Central, 3oX 31H.
The following shows the range Of the principal
stocks to-day
Highest Loicest.
New York Central .......... 205N 203Z
Erie. Observation-Disclosures. Al 39X
Hudson River. ....,............ 1856 1897
Reading. ACKNOWLEDGEMENTS. 96A cox
Michigan Southern. .......... 103 102
wabash. sh......,................ 7SZ IS
Piltsburg. rg...................... 110E 100
Northwestern. ............ S0H 70A
Northwestern preferred. 8oA so
Rock Island. .................. 113sS 112K
Fort Wayne. SIX SIX
Milwaukee and st. Paul.. rex 76I