The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-18
FINANCIAL AND COMMERCIAL.
TUESDAY. August 17-e M.

TUESDAY, August it, L. M.
Tho stock marker was excited to-day over vague
and uncertain ruInors respecting possible and pro-
bable changes, combinations and other movements
in railroad circles The announcement OF the meet.
ing held at West Point last night Of such prominent
ofncials as J. Could OF the Erie; A. Body OF the
Toledo, Wabash and Western; e. b. Phillips, OF the
Michigan Southern, and J. H. Devereux. OF the Lake
Shore. gave rise to many surmises as TO what the
object Of the conference could be. ana many
speculati0ns concerning Its probable RESULT
Wabash became active and advanced upon the
assumption that n consolidation of that road With
the Lake Shore and Michigan Southern In the
interest Of Erie was under consideration ana likely
to be brought about. and, IL was even stated had
progressed 80 far have presented an agreement
ON the part OF the Erie road not to build the new line
they purpose from Akron to Toledo as one OF the
conditions OF Its fulnlment. Lake Shore likewise
shared in the activity which that consultation had
produced In Wabash, WITH however other and 1t
may be additional Incentives thereto. 1t is known
that the New York Central management. not having
been able to make what they regarded as satisfac-
tory arrangements With the Lake shore and Michigan
Southern direction for the conveyance Of through
freight to Chicago are sending all freight Of that de-
scription over the Michigan Central road-a much
longer and less direct route An alliance between the
Erie and Lake Shore, in opposition to the two Gen.
trails u therefore regarded As not unlikely Of early
accomplishment, the superior advantages onered by
the latter to shippers in the quicker transportation
AFFORDED being regarded as SUFFICIENT to guarantee 1t
the larger of this through traffic. The street
was likewise agitated by reports Of consultations
between the managers OF the rival trunk lines now
In c0nf1icp on the freight question, with view to
END the present damaging condition Of things, which
has begun to extend to the passenger traffic. 1t Is
stated that meeting held here to-day OF the
representatives of the New York Central Erie Penn
sylvania Central Baltimore ana Ohio ana Lake Shore
and Michigan Southern roads to revise the tariff and
It was generally asserted that the present low rates
would, as the result OF common understanding,
be soon discontinued and more profitable table OF
frelghts adopted In addition to these exciting re-
ports the announcement OF the indefinite postpone
eiEnent OF the work OF consolidating the New York
Central and Hudson River roads, In consequence Of
the severe iudsposition Of the treasurer of the for
mer operated to produce its share OF disturbance In
the market, while there was revival Of the old
stories Of efforts being made by the Leading
trunk roads to the West to obtain con-
troll Of the Northwestern or Rock Island
road, or both, with view to secure
Q connection with the Pacific Railroads. Notwith
standing all these various and sensational stories.
which foaed around the street during the day. TIE
snsarkee.s Gu not exhibit any very considerably In
creased activity unless exceptionally in these stocks
mentioned Wabash being the feature Of the list and
selling up to 70 the street the morning before
ten O'Clock, with large dealings at that figure. From
this it reacted below rs, but recovered later and at
the close as77. Pacific Mail was strong the pros
pect Of the three per cent quarterly dividend which it
ia said will shortly be declared. OF the other stocks
the railways were mostly steady within margin Of
per cent; the miscellaneous shares and expresses
neglected and without change The following table
shows the extreme figures OF the active stocks
IN days