The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-27
ON THE STREET.

Brokers Acled-What They >ay-Is IL Con-
test Between English interests 10 O"s'ro'
the Erie Euilroad-Jay Gouid's Reported
Losses.
chow stands ErIey' "Have you won or i0stS'
were ouertes that were put and answered on Wall,
Rroad and Nassau streets and Exchange place yes
terday sometimes with pleasant and seli-satisned
smile on the part or the interrogated who had made
his little s.raken and was for satisfied with the
transactions OF the day, ana occasionally with Q
scowl that seemed 10 say,
AIS 1T ANY OF yotJf INTERNAL BUSINESS
how have come out OF the conflict Pm the custo-
dian OF my own secrets and know enough to Keep
Them" Compliments OF this kind were frequent
yesterday as brokers-Dulls and bears-met in the
financial points OF interest on the street; and men
who mad never exhibited sourness since the memo
rabe Black Friday gave the cut direct to their old
chums" OF the street that they were accustomed to
greet with warm sautatiOn.
While the rain poured down from the surcharoed
clouds and baptized alike the millionaire, VINO
made his exit from
THE STOCK ROOM,
the sharp messenger boy. who, holding his PEACE to
catch the last event in the market left suddenly to
report, and the Jehus, who, ensconced In rubber
coats sat upon their boxes. the entrance 10 the
Exchange was the point OF interest, and as each
man came cut q curious crowd stood and wondered
HOW THE BATTLE WAS wAGiNG WITHIN.
The excitement on the curbstones was not as
great as usual, owing to the dismal rain that drove
the operators under shelter; but In all the offices
Spectators congregated.
"ERIEn WAS ON EVERY TONGUE
1t seemed to be the only word calculated to excite
comment. and were the conversations OF the later
hours Of the day repeated they would MI columns.
Among the leading bankers and brokers VINO had
been dabbing IN Erie there seemed TO pervade
FEELING OF ANXIETY
an anxious longing for the latest Developments
Venerable heads of financial houses, who usually
depend upon their junior partners or confidential
clerk to post them upon the movements Of stocks.
for the nonce
FORGOT THEIR GOVT AND RHEUMATIs NJ,
and ever and anon nimby hoped from their
heavily cushioned chairs to the stock telegraph over
In quiet corner, co consult the little market indi-
Gator and retreatng, fell back into their chairs to
eXult at their success or curse their fCOlnardueSS
not more carefully studying the problem OF
'ERIE"-ITs RISE AND FALL.
wou va De i ln 70 WAS nnv
applicable TO those who were directly or indirectly
interested in Erie stocks.
cement which Is described by another reporter;
but 1t had its effects within adjacent wallis tnat re-
view OF eliCtlng the feeling OF the leading operators
Without the door OF the stock Room the reporter
who had but few moments before vacated Ihe
chair.
THE MARKET IS GREATLY EXCITED
has fallen again to 6is, and has just reached s45l.
Ii is continually fluctuatng."
"What is the cause OF the unsteadiness Of the mar
"That is more than can tell. You had better gee
some OF the operators On the floor"
''ls IL true, as has been reported 10 u.s. that the
matter turns upon competition between rival Eng
llsh interests each or which wishes TO conIrOl
the Erie road, and thus bull or bear the stock f'
'.Sucn is charged; but, really do not know Of my
own knowledge. Certain 1t IS that
ERIE is TIE HERO OF THE HOUR,
One drm learn, has failed That Is all the informa
"What source of information can you suggest {"
\ $50 around ana see -, and -.
They have. learn been the principal operators to.
sSsm. =" "'"' % "''' " "S'''''n '0'D'''us 'rom
Acting upon the hint the reporter called upon the
head Of u brokerage firm who are known to have o
great financial correspondence In England, France
{ loan YOU give me some idea OF what is going on
to-day In Erie stocksT' asked the reporter II come
from the HERALD
teons response, what do you wish to knowr'
THE STOCK MARKET Is GREATLY EXCITED
over Erie today. Have you any idea as TO the
tranBactOnssn
one hour down the next. The market is very un.
steady, aud while many to-day have made fortunes
Others have lost heavily"
"How many shares, think you, have changed
handsa understand you have been heavy buyers
to-day. Can you tell me how much you nave
bought on English accounts'
"Our own TRANSACTIONS OF course, are conhden-
tal, but they have been large. suppose that from
ONE HUNDRED THOUSAND SHARES HAVE CHANGED
HANDS
5Sdy These Of mean have been pur
"who do you understand are the principal
BUYERS ON FOREIGN AcCoUNTf"
Al Nn u r.. IN HrNon
Drexel, Morgan Co., and Dennistoun & Co., re.
port says, have purchased considerable"
Several OF these houses were visited and they de-
med that they mad ciade unusual purchases yester
day;
asked the reporter in continuation OF the interview,
There seems 10 be great demand just now on the
part Of en- especially
Eyes; foreign capital Is seeking investment in
this country, where larger dividends are realized,
hut attribute tue excitement IN Erie TO one prime
cause. IL appears TO be-
A RIVALRY BETWEEN TWO LEADING HOUSES
in EnganG acting through their agents here to get
THAT the English stockholders, you mean. pro.
pose to puy up the stock and controi the road and
Eyes: that is jus.1 AT least, that Is the best In
i0E a%ho are tse rival factions n
1T Is bard to say; but 1t appears to me that they
are BishoIIsheim Coz representing the Atlantic
ing the general stockholders In England. 1t ap-
pears 70 De singular w ANN avn 1.nu,n,
RIVALRY BETWEEN HEATH AND RAPHAEL
and the McHenry interests W get control of the
road.n r
swell, how do you account for the falling on OF
the stocke 1t Is now falling, understand"
THAT the transactions have been principally con.
1ued during the past lew days to brokers In the In
terest OF one the other OF these London houses
working in antagonism Is very certain. But to-day
the excitement has extended to spectators on the
Street, who are not interested on either side, and
their transactions have evidently caused the sudden
rise ana lallu
Another nrm-a very large banking house-was
Dorter5 queries The substance or his statements
were that he did not believe the stock market was
materially aected one way or the other by the rival
factions In London.
Then, now ~ the world do you account for the
excitement In this stock ~
''It Is very simple. l understand that within q
very few weeks over