The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-11
FINANCIAL AND COMMERCIAL.
FRIDAY, Sept. 1O-0P. M.

The topic OF earnest discussion to-day was the
curious situation OF Erie stock, the sbulls" ana
sbears" taking opposite and oftentimes excited DO
eltions % to the character OF its registration When
the stock was reached at the FIRST session of the
board this morning tho president, MI. Nelson, took
the chair and said that as he their president and
authorized to act for them he had decided to suspend
the call Of Erie. He had examined the situation
and was confident the registration Of Erie far was
only nominal and not actual. He decided its call
suspended until the 18th Of October when the trans
fer books would be reopened. The first vice presi-
dent, Mr.. Wheelock, In resuming the chair. ex-
planned that he too had acted for the body
In calling the stock yesterday In the absence
OF the president he exercised the latter's
administrative powers. He had placed Erie
on the list as he had the other stocks which were
gradually restored after their expulsion last WINTER
No investigation had been made as to the clrcum-
stances Of registration The fact Of registration
ample reason for their restoration. II was the same
way with Erie. The subject finally referred to
the Governing Committee and the stock omitted for
the present. The letter received by Mr.. Wheelock
announcing the registration OF the stock Is as fol-
lows
FARMERS LOAN AND TRUST COMPANY
No. 20 Exchange place,
NEW YORK, Sept ., 1859.
"; a: WHEELocK, Vice President New York Stock
DEAR sIR-The common and preferred stock of
the Erie Railway Company nave this day been regis
tered ut this office the common stock at $40
tire capital s7s,5se9oO Certificates OF registration
win be given at the opening OF the transfer books
ON ana after the 10Th pr0xtm0. Yours, very truly,
r. G. ROLSTON, President
The stock, which sold as high as 37%, hereup0n
dropped OF to 357s but recovered at the close to 81
the impression gaining ground that the board was
not justified In suspending the call, and would
rectfy Its conduct tomorrow. The street Is still
greatly excited and confused about the matter. AS
to the clique movements 1t Is said that the operators
who looked for decline have been greatly dlsap-
pointed because the price aid not 60 or under the
adverse circumstances attending It's reintr0ducti0n
to activity, and are now somewhat alarmed because
heavy capital and strong hand were perceptble in
the purchases corresponding to the speculative sales
81 the past few days. lnasmuch as the annual cleo
tion takes place next month some thought the
lrlsuds Of Nj. prey we're geeking TO restore
hlrh e Its presidency, III. " saQaa 2Y
be forgotten that only onefourth OF the directors 20
out this year, the balance holding over under q
special law passed last winter. The other railways
were heavy. particularly the western list and
Underwent rather sharp decline until late In the
day. when the feeling changed in answer to the easy
closing of the money Market and there was gene
raj advance all around The feature after Erie was
Pittsburg, which on the renewed assertions of a
the close to 111h. The street was without definite
Information as to the matter, the cash dividend
being estimated at from az to s per cent
and the scrip at 10 10 40, while one report
had 1t that the directors were to meet this after
uoon and another not until Thursday Of next week.
The Vanderbilt stocks were comparatively neglected
until late In the afternoon, when Central rose TO
205sS ST. Paul went OF to 70 upon the announce
ment that the earnings for the first week in Septem-
Der had fallen on over hundred thousand dollars
es compared with last year. owing to the backward
ness Of the general harvest ana the unfavorable
weather for shipping the wheat already gathered.
The crops, however, were reported far more abun-
dant than last year. Hannibal and st. Joseph
underwent decline to 1875. In the express
stocks Adams was steady and American
strong In the miscellaneous list Pacific
Mail was weak and declined to II. The
following were the closing prices at the last session
Of the Stock Exchangc-Cumberand, 81 S8X;
Western Union, S6H q 36s4; Quicksilver. 1917
AK; Mariposa, .; DO preferred, 12k q IA;
Pacific Mail, Tx 773s; Boston Water Power, 15H;
Adams Express, 5eK; wells-Fargo Express, 49, 1875
American Express. soY bid; United States Express,
cox q 81; New York Central, 2O4k 2o4H; Hudson
River, 1921 1874; Reading, 90 q 9sh; Michigan
Central, 129; Lake Shore 1913 100H; Cleveland
and Pittsburg, 110K; Chicago and Northwestern,
7oh q 70H; DO. preferred, $50 q S8h; Cleveland,
Columbus and Cincinnati, IS 70; Rock Island,
11OX 11OX; Milwaukee and st. Paul. 7oH . 76H;
do. preferred. s6H s5H; Toledo and Wabash, 7SK
bid; Fort Wayne, 81 SIX; Alton and Terre Haute,
t7a So; Ohio and Mississippi, als. SIX; Delaware
and Lackawanna, ITO bid; New Jersey Central, 1O3
q 103K; Chicago and Alton, 1907 ISL; do. prefer
red, 15O 152; Norris and Essex. 81 s7H; Hannibal
and st. Joseph, 11sh a 12l; do. preferred, lit q
121; Columbus, Chicago and Indiana Central, 81
Tho following ahOWs the range of the princpal
stocks to-day