The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-21

Deduo. for expenses sixty.three per cent H. COO
Leaving So. 600 900
This percentage Ia greater by three per cent than
the actual operating expenses OF the line from
Buffalo to Chicago during the past year.
Amount at, required to pay eight per cent on 90,
Amonnr re"nred r. nav seve nor cent m
bonded debt 1886, 600, 00O). ........... 2450 900
Total. So 400, 900
II Is difficult to conceive why the consolidation has
been made. The two roads run without rivalry the
one running from Toledo to st. Louis and the other
nom Buffalo through Toledo to Chicago However,
there are other interests involved, and these render
che whole street feversh just now for the fate OF other
enterprises. 1t Is known that the indomitable
members Of the Erie clique have never given up the
scheme ofa broad gauge railway from Buffalo or Dun
kirk and Cleveland to Chicago and st. Louis. Over
lures have been made to the Lake Shore Company to
induce them to select the Erie the line Of their ex
tension to New York, and the most tempting offers
made. But the great New York Central power has
been the obstacle. The query suggests ITSELF Have
the Erie Clique trtumpheds They are known to have
been In frequent and earnest consultation with the
Lake Shore Company, ana they are accredited with
being the controlling influence In the Wabash line
which IL now on the eve Of consolidation with the
aon OF the Erie stock the Lake Shore directors
refusing to listen to any propositions until the Erie
stock should be registered after the manner pre-
scribed by the special resolution of the Stock Elk
change. Another query suggests ITSELF Have che
Erie directors agreed to make this registration
Such are the facts upon which prices turned to-day.
New York Central, as the 1rst consequence Of the
suspicion that it to be left out Of the grand through
consolidated line, broke to $780, equivalent
20 2o2H, as 1t IL Just ex dividend or four
per cent on the eighty por cent scrip.
The short interest Ia 90 large, however, that there
was good deal Of covering" under which re-
action to 2o2 followed. Lake Shore rose to 1925
but afterwards declined to 1O7X. Wabash, under
the first stimulus Of the news to ss, but also
reacted to ssX, closing at s6l; the whole market
becoming feversh and unsettled under heavy sales
OF the general list induced by the s'breakn In
Central and apprehensions that the bank statement
tGmQfr0w will be unfayOrable. Why 1t should be
20 It is hard to fancy, uuicss tho shiprnants OF
gold to California tend to draw down the
figures Of the legal reserve In such manner az to
necesstate more conservative policy the part of
the banks next week. Money to-day was abundant
Ut six per cent on miscellaneous collaerals the ex-
ceptions at seven beng rarer than usual Among
government houses the rate invariably six with
out any perceptibe activity in the demand. OF
course the decline In Central led to decline 10 Hud-
son River, which ren of to 1s1 Il, and in Harlem,
which yielded to 1915. The 'insldes" IN Central
have been free sellers Of 1t for some time
past. aud loud complaints have been made against
Commodore Vanderbilt, because in his attention to
Mountain Boy he has been obvious of tile pecuniary
risks OF the friends who embarked in the Central en-
terprise with him. About the best quotations of the
day were made at the last board, when the whole
market was buoyant In sympathy with the
rise In Lake Shore and Wabash, and when
the danger to the Vanderbilt consolidation
scheme was not suspected. The following were
che quotations on the call at this session.
Canton, 90; Cumberland, S5i4 bid: Western Union,
ssh ssK; Quicksilver, 1871 a 10; Mariposa, ca
bid; do. preferred. 10 q 1915; Pacific Mail, s3T
81; Boston Water Power, IA Adams Express,
SIX $50; Wells-Fargo Express 1919 a 20; Amert
oan Express, S9ls 500; United States Express, "a
65; Merchants Union Express, 1oH bid; New York
Central 2o5H 2o5zS; Hudson River 1874 a les; Har.
lem, 162 q 1888; Reading, 981< 96'l; Lake Shore,
l09,s 0 1O0X: Cleveland and Pittsburg, 1861 bid;
Chicago and Northwestern, ssK a ss7s; 40. pre-
ferred, Ok q OK; Cleveland, Columbus and Gin
oinnati, IS 10; Rock Island, 1161s III; Milwaukee
aud st. Paul, SIN o SO; do preferred s9zs q 90:
Toledo and Wabash, So; do preferred, s7s< q So;
Fort Wayne 162 1853; Ohio and Mississppi, 323<
s21<; New Jersey Central, 107,1 bid; Chicago and
Alton, l6S 100; do preferred, 1859 a 1917;
Morris and Essex, ssA a sS1s Hannibal and st.
Joseph 1914 bid; do. preferred, 124,s l2o Co.
lumbus, Chicago and Indiana Central, 80 a s5>4.
The cnange which the market under vent in sub.
sequent transactions is rejected in great measure
In the street quotations which we appended to the
record Of sales at the Stock Exchange.
The gold market was subjected to a continuation
OF the influences which have been 80 prominent
during the week, and the price yielded to 1919, but
reacted to 1927 under the covering Of speculative
sales, which were largely increased to-day, the de-
mand for cash gold being SO great that in tyansac.
tons after the Clearing House loans for carrying
were made "nat." Previously the figure ranged
Gom Ave to three and half per cent The asburse-
ments OF coin interest to-day amounted to s23 1877.
The range Of the price is shown in the tablet
10 A. N. ......... 1921 3P. NJ. ..,.......... 1929
III A. N............ 1872 3:45 p. NJ. ......... 1927