The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-02
Loans or gold we're made .. DAT Cor borrowlng

Loans OF gold were made &C nat for borrowing
and at per cent ana l-32 for carrying.
In the stock market the early transactions were
characterized by the buoyancy and confidence
which ensued last Wednesday. The continued pre-
sence OF Commodore Vanderbilt In the street
induced tho purchase OF New York Central at as
high as 175 and or HUDSON River at l63. Here the
market paused, the outside investment demand
seeming 10 be supplied. IL the orders from out
OF town and up town buyers who sought invest
ments In the dividend-paying railway shares,
that turned the market on Wednesday and
hoated 1t up 10 this time, their influence
being aided by the covering OF the snort
interest which was put out IN the gloom that accom-
panied the announcement or Lockwood Co.'s
failure. To-day however, the speculative fraternity
thought 1t good market to SELL and hence decline
followed their attack, the speculative bull feeling
not being strong In any OF the stock except those
which are directly supported by Commodore van
derbilt. As 1t was Central went or to 171s; but the
yielding was most noticeable in Lake Shores, which
was very unavoraby affected by reports OF defal-
cation In the moneys OF the corporation. These
reports not very clear OF themselves, nor were
the officials OF the road very full In explanation 1t
seems, however that Mr. Lockwood, as treasurer OF
the Lake Shore Company. was responsible for MIL
lion and quarter dollars OF the stock Issued
in the process OF equalization when the various
lines forming the Lake Shore were consolidated
Subsequently the Lake Shore, in trying to head
or the Erie in getting control OF Wabash over
which broad gauge might be constructed to st.
Louis, purchased q million Of Wabash stock Lock-
wood Co. assert that the only liability from them
TO the Lake Shore Company is for the difference In
these transactions, and that such difference being
a trust fund, will be the first payment from their
assets. The complication Is interesting to the
public, as exhibiting very pretty piece OF railway
intrigue Under the influence of this report and OF
q statement that Commodore Vanderbilt had not
bought any stock Lake Shore went Off to sou.
Later In the day 1t recovered. when 1t was found
that the moneys had been kept ct Cleveland and
that the payment OF the bond interest was going
to- day ar the Bank Of New York. The movement to
assist Messrs. Lockwood b Co. receives, curi0usly
enough, the assistance of Daniel Drew. There was
no meeting OF the Lake Shore directors to-day, q
quorum not being in town, and 1t s also denied this
evening that MIR. Banker Will succeed Mr.. Lockwood
treasurer. However, II the Vanderbilt party are
going to buy such reports WILL Of course be kept In
circulation to depress the stock. The public there
FORE have their choice of believing either side The
following were the closing quotations at the last
session Of the Stock Exchange:-Canton, So; Cum
berland, rs bid western Union, 36h 36H; Quick
silver, 12k H. Mariposa 81 bid; DO preferred 1917;
Pacific Mail, 6s 63H; Boston Water Power Ia;
Adams Express 61A q 5Sh; Wells-Fargo Express.
17n 10; American Express, 80n a BON;
United States Express SIX SO; New York Central,
l73X 174 Hudson River. 1917 1o3k; Harlem, 1873
a 1856; Erie 81 q 341S; do. preferred, tSi4 70
Reading, 93A 931S; Michigan Central, 100 1922
Lake Shore, 83h S33; Illinois Central 1S1
1867; Cleveland and Pittsburg, OIL OH; Chicago
and Northwestern, 1923 7oh; do. preferred, "a bid;
Cleveland. Columbus and Cincinnati, 70 o IA; Rock
Island, 1888 1Osal; Milwaukee and st. Paul, eszs
90; do. preferred, 81 s17S; Toledo and Wabash.
80 a 90; Fort Wayne, "a; Alton and Terre Haute
preferred, SO a 81; OHIO and Mississippi FIX FIX;
Delaware and Lackawanna, ITO; New Jersey Central,
99k 100; Chicago and Alton, las q LAG; do. pre-
ferred 143K lac; Morris ana Essex 81 s71l;
HANNIBAL and st. Joseph, ITO Ill; do. preferred,
1O9a 112; Columbus, Chicago and Indiana Central,
20. The decline following tho reports concerning
Lake Shore led to wide differences In the prices Of
the other leading speculative stocks The range Of
nuctuatiOn shown following tablet