The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-05-22
NEW YORK HERALD MONDAY MAY ~ 1S7l-rRlpLE SHEET.

movement In Erie which, AFTER carly advance to
"a. went or rapidly to 2s1s, bringing the market
down in sympathy.
LESSON WORTH REPEATING.
Commenting upon this decline on that day we
said, and, subsequent events have borne us out,
we repeat the remark S.
The influences at work In this stock have been al
ready 1ully explained In this column, wherein 1t will
be remembered care was given to omit all reference
TO the various ru.nors OF It's intended purchase by
outside parllos These stories having served their
purpose and brought The public in as BUYERS, the
clique have sold out, and are now mannuvrng to
sible.
On the Wednesday previous when Erie irst adj
vanced TO 81, we sald:-
re riddle OF this rise was solved In this column
few W. ehs smce, when the public were informed
placed certaIn parties ..shortv OF 30, 900 shares,
which they have been forced to cover.
And on Thursday. In reference to the cancellation
OF ss.ooo,ooo In the prospective Stock
The inside party having already bought enough
nothing and, having at the same time bought
enough moro at low prices to secure them
Ra a n 10 he s e Ss was
provided In notification OF the withdrawal OF the
over-issues.
Towards the close on Friday New York Central
stock and scrip became active and advanced upon
the receipt OF private adYlces that the tax on the
was mostly steady and quiet, New York Central
firm, on the confirmation Of the report above
noticed, and Western Union strong on the state
ment that Its difficulties with the government
had been amicably settled-interpreted TO mean
that IL would get more government patronage. Erie
was actively dealt In at from 29M to 30h, closing
firm at 29X q 80 The market was strong at the
close Lake Shore advancing to 113A upon fresh ru-
mors OF the long expected scrip dividend which, II
is now said, will be made on the basis of 40 to 100
shares, for which rs per cent cash will be required.
This win raise the capital stock OF the road to
$780, and place at the disposal OF the company
the sum or So, 10000 which 1t Is intended to eX
pend in completing q double track. The want Of
this accommodation Is asserted to be the reason why
the road hos failed to earn ten per cent dividend
and its construction is confidently looked forward
to to produce this result
LATEST PRICES OF STOCKS.
The following wero the closing street quotations
for stocks last evening:-Western Union, 59X 90;
Pacific Mail, 49, 464; New York Central, 1ooh q
1oOX; do. scrip, OAK et; Erie, 2oX 3oX; Read
Ing 1l4,s a lax; Lake Shore 113A 1917; North
western, SO 500; no. preferred, 9SH 9s1; Rock
Island, 1l5H 1l5X; st. Paul, 62A Il 021s; do. pre-
ferred, s2H S2h; Wabash, 641a 64A; Union Paci.
lc, ss5S 35a(; Ohio and Mississippi. 5aS 52N.
The closing prices OF governments were as fol-
lows:-United States currency skies, 116H 1l5A;
do do, 1881, registered, 117s 117h; do. do,
coupon 1l7% 1171; do. nvetwenties, registered,
May and November, 1l1x 11ls4 do, 1862 coupon,
d. Il1ss 111T; do. do, 1884, do. do, Ill q q
111N; do. do, 1885, do. do 111s6 11l%; do. do.
registered, January and July. 113% ia; 90. do
1896, coupon, do, 1881 1l4 do do, 1867, do. dO
l13X ia: do. do, 1885, do. do, ia a 1141s; do
ten-forties, registered 1O0as 109ss; do. do,
pom. ITO 1loh.