New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-09-18
SATURDAY, Sept. 16-P. n.

We notice as orc Of the "cominS events"
which cast their shadows before In the stock market,
unmistakahle signs Of a cunulngydcviscd scheme to
revive confidence in Erie az speculative card, the
shares Of which have Eomnay advanced somo four or
five per within TIE last two month"; The story Cir
caed of course at the OF the managers OF the
road Is that economical in other words less
dishonest expenditure Of money is to characterize tic
future management Of the Company's affairs We have
still large remnant Of faith the intelligence Of the
public, and do not believe they can ever again be
duped into the purchase Of Eric stock so long rs
the concern remains under its present manage
mcnt And, furthermore are confident that tho
chief part Of tho transactions in 1t, as reported
from day to day, are purely fictitious, both purchases
and sales being generally made for account OF one and
the same person. In this way tho quotations have been
gradually marked up to higher points, ami in reason
ably active market, which we have not had for few
days past may be continued indefinitely The object III
making the stock seem to in demand is to deude the
creduous into the belief that the public are buying upon
the theory that those who formerly puntered the Toad
and brought ruin to the countingroom ard horlc OF
many stakeholder, have mcnded their ways and Willie
processing repentance for the past are honest in tho
promise OF reform in the future Whenever the pubic
may seem to have duly humbugged by these tactics
and satisfactory quotations reached by seeming posi-
bly real good management OF the road for short time
the expectation the part Of the management is to sell
the stock at the advanced rate, only to buy
it back again at half price by the easy pro-
cess OF reapfng into the old and oft-tiied
way of furnishing supplies at double their cost and by
other devious ways showing the apparent incapacy OF
the road to earn running expenses and
interest its bonded debt. That the Ring do not alb
aorb all the of this magnificent property, and
that the bondhoders receive hcr interest is due only to
the fact that the payment of interest absolutely neccs
sry to enable the conspirators to maintain their gip
upon tie railway.
II SPECTATORS could know at just what point Tie
change ia tactics would take place they could OF course
make handsome turn" by buying the stock and hold
ing rise; but how they TO know that it would
not be left their hands ct so or 81 per
cent? II Fisk and Gould really desire to give
tho stock permanently enhanced value, tAe
modus is as casy"-cven for thenl-"as lying" Let
them and all the sdirectors resign and with their
abundance Of unsod and unstable shares elect in their
stead who enjoy the unquestoncd confidence OF the
pubic, and the stock Which few have now the temerity
touch unless protected against loss by the kindly sup
port of "put," may be disposed of at profit that ought
TO DC satisfactory 10 even Tue most nstat e s his all
sensible men will remain stolidly Indifferent to Quota
tons however high and needing not the song OF the
charmcr, charm lie wisely" will let the whole
concern severely aono.
The week closes on a declining stock market, with
prices tho lowest point during the past seven days
The transactions have not been especially large, though
the fall in quotations brought out free offerings, and
there considerable pressure to sell: Up to O'Clock
prccs did not show any marked decline except on Lake
shore and Wabash; but subsequently, when the terms
of TIE Lake Shore dividend MADE known and the
lnfIyorale Bank Statement was published, the entire
stock list gave way and general selling movement FOL
lowed Late in the afternoon it announced on the
street that essrs Clark, Banker, and Shell, the Com
mtee charge of the dividend question had increased
the share capital Of Lake Shore 100000 instead OF
Sl5,OOOOVO, az had been expected from outgiv-
elyiugs. 1t was also stated that the amount
OF cash to be called up the
new issue OF stock will be 3 per cent at such times as
the needs OF the Company may require After the new
stock shall been all paid for at the rate Of S cents
to dollar, tho scrip is to be made convertible into
stock The stocks actively traded ill., beside those
already mentioned, Ncw-Iork Central (Which was
quoted cx-dyidcn in the afrcrnoon Erie, NorhWcs's,
Rock Island, Pacific Mail Western Union Telegraph, and
Union Pacific. Miscellaneous stocks generally dull.
Spring Mountain Coal strong, and Consolidation
steady. The following the highest and lowest
prices at which active stocks were sold to-day: