The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-05-21
FINANCIAL and COMMERCIAL.
A NEW MOVE IN ERIE.
Colonel Tom Scott Of Pennsylvania, Running for
the Presidency-The Great New York Trunk
Road To Be Made Side Show
to the Pennsylvania Central
Departure Of j. Edgar Thomp-
son for Europe.
Movements on Both Continents and
Prospects of Breaking the
Present Slate.
BOUTwELL'S RESOURCES.
Claims Against the Treasury and Amount Of
the Secretary's Actual Coin Balance.
A Dull Day in the Wall Street
Markets.
Stocks Quiet, Governments Steady, Southern
Securities Firm and Railway
Mortgages Flat.
GOLD lib 1-2 A 113 5.S.
Money Easy and Foreign Elk
change Unchanged.
Claims Against the Treasury and Amount Of
the Secretary's Actual Coin Balance.
A Dull Day in the Wall Street
Markets.
Stocks Quiet, Governments Steady, Southern
Securities Firm and Railway
Mortgages Flat.
GOLD 11:3 1-2 A 1I3 5-S.
Money Easy and Foreign Elk
change Unchanged.
WALL STREET,

WALL STREET. !
MONDAY, May 90 p. M
On 'Chango to-day the market showed the same
difficulty between holders ana buyers in wheat,
although prices on the whole were heavy Flour
was quiet, with buyers reticent. Cotton was
steady.
ON TIE STOCK EXCHANGE
there was but little Of special interest," the largest
fluctuations being in Erie and Pacific Mail, the for
mer Of which ranged IN per cent, while the latter
Vibrated 2H per cent. The closing OF the transfer
books in the case of the latter drew OF the
particular interest in 1t this afternoon
although the result Of the election is still
In doubt. The matter of the increased subsidy was
10 come up in the House this afternoon, but this
viii probably 60 through now. The opposition have
fought ably against it, and as they lave reward
10 look for other than the satisfaction Of their
sttuens, 1t is probable that they will not interpose
many difficulties In the future.
ERIE AGAIN.
Erie was the leading feature Of interest In the
market upon report from London coming through
private sources that ticket for the coming election
beaded by Colonel Tom Scott, of the Pennsylvania
Central, with other prominent New York names, had
been circulated about London, and received the
support Of Bisch0nsheim and the rest OF the At
iantic and Great Western interest. The recent
movement Of the stock during the latter part Of
last week, and which continued to-day to put the
stock up to 75X, is result Of this report, while it
Ii further said that Scott has succeeded in Goa
lescng the Heath and Raphael or English protective
committee interest in his favor. Important
communications have certainly passed be-
tween them Of late, confidently supposed to
be Of that character. It Is scarcely ne
Eessary to say that New York does not cordially
endorse this nomination, fact 1t is said that
Che great Wall street evangelist, Daniel Drew, has
closed out his short contract of $4,000 shares for
the purpose Of opposing 1t. 1t for this reason
shat Vanderblt's name was trotted out on Satur-
nay, and the pressure will be very stormy and
Induce him to enter the contest, the general Inn
preston among the New York people being, that
II Scott gets control Of the Erie road 1t will be run
simply as q sort OF side show to the Pennsylvania
Central. This was the great point which
Flsk and Gould presented in justification
OF their seizure Of Ere-viz., that they had pre-
vented it passing into the hands Of rival corpora
tion In another State. The accession Of Commodore
vanderbilt to its control would be only less obec-
tionable but the passage Of this great corporation
into the hands of Colonel Scotia of undoubted
talent, but already controlling too many railroads.
in country such as this-w0uld almost be equal to
the evil Of the Fish-Gould management. A sig
nincant fact In this connection Is to be found In
tho recent departure Of ], Edgar Thomp-
son, of the Pennsylvania Railway Com
pany for Europe, ostensibly for the
benefit of his health, but In reality 1t is thought to
FORWARD Colonel Scott's aspirations 1t may be in
teresting to of these gentlemen to learn that
o representative OF q London financial Journal, who
has been travelling over the Erie Railroad during
the past month"; returned to New York to-day, after
his tour of inspection, and leaves for London at an
early date to communicate his information to the
English stockholders. He will, perhaps give them
better understanding Of the value of the property
they control than Colonel Scott's agents. 1t has
almost passed out Of the recollection of that
excellent authority, ''the Oldest nhabitant," when
Erie paid q dividend; but once let 1t
pass into the control Of the Pennsylvania
Central and the youngest Notwithstanding acc
dents-will not live to see 1t resume that healthy
practice. For Instance, take Cincinnati, Columbus
hnd Indiana Central Familiarity known on the street
as Cough Candy and Ice Creamn which was quite
p feature to-day, advancing to 421. This road
almost parallel with Fort Wayne, with which 1t liz
part Of the leased property Of the Pennsylvania
Central When the great Railroad King is long Of
Cincinnati, Columbus and Indiana Central, the
traf1c upon this branch Is very heavy but when
he happens to be short 1t is sngulary diverted to
Fort Wayne. The feeling in Wall street Ia certainly
against scott's success in this matter, but the
chances are largely in the Colonel's favor.
THE GENERAL STOCK LIST
was extremely quiet, the closing Of the transfer
books in Pacific Mail taking even the interest out Of
fhat stock, which with Erie and O. G. and !. c., as
hbOve mentioned were the only features Of the list
The following were the highest and lowest prices
of stocks during the day.