The New York herald., 1872-12-21
STOCKS ACTIVE AND FIRM.

STOCKS ACTIVE AND FIRM.
The great feature OF the market was Erie, which
advanced another four per cent, comparing
Its highest price to-day with the best Of yesterday
viz. 6l9. with 573s-and closed at COZ. The news
OF Jay Gould's conduct has been even more enthu-
siastcaLy received in London than IL has been by
the American public If we may judge by the cable
reports and quotations received to-day. Indeed,
the New York quotation has been behind the Lon
don price all day, just as In the great Erie specua
ton last Spring. when the two continents were
buying and selling Erie, the London price was the
guiding and controlling price for all other markets.
At this early hour 1t is dificult to infer what
chances there are for revival Of
THE FAMOUS SPECULATION
Of last Spring. AS general thing it is difficult to
excite 80 much interest In the same subject Sec
ond time, especially at SO near an interval On our
side Of the Atlantic there is more less apathy in
the greater portion Of the community as regards
Erie which 1t would be difficult to change into en-
thusiasm, the topic and speculation being with Us
pretty well exhausted. In London, however, the
case is dinerent, and as nearly three.fourths of
the capital of the company is held abroad, it is
easy to understand why the London price controls
the market. Hence, as the Bank OF England is
gaining in bullion and as the London money mar
ket Is growing easy, there Is q chance Of revival
Of the activity OF last Spring. especially as the
rival Of the new year will set free about eighty
millions Of dollars through the redemption by Ger
many Of portion Of her war loan. The prospects
IN the European markets are, therefore, quite
favorable to
SPECULATIVE EXCITEMENT
the coming year, and as Erie Is universal card
in England and Germany it may be taken up as the
vehicle for q popular speculative Juror. On this
side gossip is already busy with the future OF Erie
ollxy Ictro
Of the friendly relations Of the Clarke-Schen
party with Jay Gould; but such stories are "a
good enough Morgan" until the clioues have sold
their stocks to the public who enticed to buy.
This version OF the Erie situation had credence
enough, however, to cause decline of nearly one
per cent In New York Central in the control Of
which the venerable Commodore Is to be left In
childless isolation by his ungrateful and faster
sons-in-law. The London market appears to have
been hoaxed with o report that there was o
hitch in
THE JAY GOULD BUSINESS
SO that the buyers who went In so keenly to-day
on Erie shares have probably gone home tonight
in q serious mood, rejecting upon the uncertainty
Of Yankee affairs in general. The results Of the
restitution are up to this time, as substantial as
they well can be, and we refer the reader again to
our adjoining news reports for the latest develop
ments Of this extraordinary matter. Erie pre-.
ferred, In the hope OF continued dividends, re-
covered to 70. BY slip OF the pen, which prob
ably corrected itself, we were made to say this
morning that Erie preferred was adjudged by the
Courts to be ahead Of all obligations except the
common stock, whereas 1t stands behind every
thing except the common stock. Pacific Mail
which is drifting about as much a conundrum as
ever, puzzling none 30 much those who fancy
they control it, went or two per cent and then ad-
vanced four per cent, closing at 7sA
WESTERN UNION TELEGRAPH
was weak on sales under the rule for the account
OF small operator, and went or one per cent.
Ohios and c., c. and l. G. were again strong and the
general market firm.
The following is the latest ofcial return Of esti-
mated weekly earnings Of the Erie Railway Com
pany commencing November ], 1871
1871. 1872
Sir Days. Sir Days.
For week ending December 49,. $32s,O9O $s7s353
Previously reported. .......... 1,S1O502 2O72,152
Total earnings since Nov ..$2 1885, 500 $2 45o, sos
Increase for week................., 90. $50 263
Increase for one month and two weeks
to uate.. 3119l3
HIGHEST AND LOWEST PRICES