The New York herald., 1869-05-21

/
The signing of the Erie bill, Keeping majority Of
the present directors in Office for three years longer
did not materially AFFECT the price OF the stock,
which was quite steady all day m the vicinity OF 29h.
| Ohio and Mississippi, retaining the impetus given
| yesterday advanced TO S6ss. Wabash under a noti.
| dcation from Its directors to the Stock Exchange
that they intend after thirty days to increase the
capital stock four millions, sharply declined to IA
but recovered late in the afternoon to 76S upon the
announcement that the company intend expending
the four millions as follows:-$l 500 900 for the pur.
chase OF the Decatur and Illinois Railroad the com.
pleton OF which will give the Wabash an air line
st. Louis; 100000 to new elevators at Toledo
and 100000 to extend the road from Quincy VIA
Hannibal and Moberly to Kansas City, where con.
nection viii be made with the Union Pacific Rail-
road. Eastern division. The Northwestern shares
were steady for the common, but buoyant for the
preferred, which advanced to 104& bid. Rock
Island was strong, but irregular with the general
character OF the market. The future of stocks is
very interesting problem. The signing Of the New
York Central bill is an important point in their
course. Is it the turning point or is it only
stage in their remarkable careers The steady
advance in Central has been q cruel torture
to hundreds OF the ''bear'' element OF Wall street.
Those whom it has not ruined are rejoicing tonight
at what seems the climax OF their distress. The
Vanderbilt permit it to recede will he continue TO
"twist" his enemiesf Rumor says that his
old opponents, the Erie clique. are enormously
'short' OF 1t. VIII he take his revenge does he
regard them no longer as his opponents since Mr..
Drew has withdrawn from their ranksi The gen.
eral market Is In curious position. The
cliques are divided among themselves, but
nearly all Of them are 'short' Of stock
The recent upward movement, Of which
they were the origin, more successful than they
recSoned upon. When it touched what they re-
garded good salable quotations they sold not only
their ong" stock, but large quantities OF 'short"
Stock But the market did not halt 1t would not
halt They made one or two attempts to check and
turn 1t, but in vain The momentum which they
themselves had communicated was too great. Prices
have gone still higher, but the stock is in the
hands Of the 'outside public" and the smaller
spectators. The war is between the public and
the cliques. II the former will but resolve to fight
obstinately they have the opportunity of crushing
some of the combinations which have rendered the
Stock Exchange refined species OF gambling house,
and made the securities Of Wall street no longer re-
liable investments for capital or attractive as in
ducements to enterprise. The ciques have the
losses OF the rise concentrated upon them. Their
opponents are numerous as an army and in their
division OF the moneys represented certainly
the cliques at this moment will crush them. The
following were the closing prices at the last call of
the Board-Canton, 82I GA; Boston Water Power,17
a 17H; Cumberland. 30 81; wells-Fargo Express,
34h; Adams, 6O7sa 61H; American, 40 q 4OH;
United States. &C 6sA Merchants' Union, Is a
15A; Quicksilver, 1917 1919; Pacific Mail, 95H a
s5h; Western Union Telegraph 4sZ 4Szs; New
York Central 1ss 1885,; Mariposa, 231S 244; do.
preferred, 49H 491s; Hudson River, 157Z 1881;
Harlem 14s 14sh; Reading, 9s1k 9Ss.; Alton and
Terre Haute 39X 4o1s; do. preferred, 70; Toledo
and Wabash 75h 75zs; do. preferred, So; Mil
waukee and ST. Paul, Tx q 77H; do. preferred, |
81 s7S; Chicago and Alton, 1881 100; do. pre-
ferred, 15s1k bid; Ohio and Mississippi 3ek 36H;
Fort Wayne, 1881 1b37S; Michigan Central, 127 |
$50; Michigan Southern, 1919 lO7k Illinois Gen.
tra, 14s Cleveland and Pittsburg OAK q 941; Lake
Shore, l0eh 1o6zs; Rock Island, 1274 a 1919; |
Northwestern, 91I a 90; do. preferred, 104Js |
a lo4k; Cleveland Columbus and Cincinnati, IA q
20; New Jersey Central, 11s 11sk Hannibal ana
st. Joseph, 1l9h 100; do preferred, ll6L III;
Columbus, Chicago and Indiana Central, AK 43a.
The Lake Shore and Michigan Southern Railway
Company will be the name Of the consolidated rail-
way line between Buffalo and Chicago. The election
OF the directors Of this company will be held at
Cleveland on the I'd Of June after which the agree.
ment Of consolidation will be submitted TO and rat-
ny, and then the agreement must be ratified by
rwohirds Of the stockholders Of both the Buao and
Erie and the companies West. These formalities
will complete the consolidation.
At the annual meeting OF the stockholders OF the
Harlem abroad the following Board Of Directors
was elected for the ensuing year:-Cornelius Van
ierbit, William II. Vanderbilt. Horace F. Clark |
Augustus Schell, W. G. wetmore, A. B. Baylis, |
ames II. Banker, John NJ. Tobin John B. butcher |
William A. Kissam, oliver Charlick, Joseph Harker |
Cornelius Vanderbilt, Jr. Upon organization Cor |
nelius Vanderbilt was reelected president william |
Il. Vanderbilt vice president Cornelius Vanderbilt,
Jr., treasurer, and Robert J. Niven secretary.
The earnings Of the Chicago and Rock Island Rail.
road for the second week in May were:-
!s6s SIS 200
ls6s....... 6s934
Increase. se........................... s1s,2es
The earnings Of the Michigan Central Railroad for
the first week In May were:-
1862 ............-.............. 1857
l
iHciedsc '.s.........s........... $9z66
The earnings OF the Western Union Railroad from |
January 70 May IA were:-
s69 ACKNOWLEDGEMENTS. soo6 900 |
ooo. zoo 556
ihcrease. ................$5653