New-York tribune., 1872-03-28
4 BREAK IN ERIE.
A DECLINE OF FIVE PER CENT WITH SLIGHT
RALLY-WALL-Sr. RUMORS.

A DECLINE OF FIVE PER CENT, WITH SLIGHT
RALLY-WALL-Sr. RUMORS.
Those who sold their Ere stock on Tuesday
at CT convinced Of their wisdom yesterday morning
for although Erie opened at Sc. 1t at evinced un-
mstakabe signs OF instability and began to de-
cline The scene in the Stock Exchange 62t and, the
moment after, g. became tho selling price. was one of
quiet submission fate. 1t not long before 6
offered and taken for 1OO shares then followed 100 at
61 6i 500 az 61Ii and 1000 at 81. It TOOK some
time for the price TO reach 6 after the sale OF 1OO
The rates ranged from 6 TO 62S during the
afternoon. 1t declined again. and closed IN the Ex-
change at soy Sales made the street after the
closing of the Exchange at even slightly lower figure
Spectators both in England and the United States
have within the last two weeks bought fabulous amounts
OF Erie shares and the excitement has increased each
day in both countries The English capitalists, more
cautious than their American associates ceased 10 pr
chase days ago. and their example has created
the feeling OF unsteadness which pervaded the street
yesterday. A report that the rupture between what
we're known the Heath Raphael and the Bschofshem
combinations had been settled gained credence. and
served to check operations II has been evident from
the orders which received from abroad that OF
the clques concerned in the combination evidently
satisfied. So long Erie buOyant, the public both
here and in England retained and in many cases in
creased of their stock but the instant that
break occurred in the value, the outside specuatOrs
rushed into the market.
II is said that the contestants for the future control OF
Erie are srewd manipulatOrs on the London STOCK E4
change and that their operations extend 10 all the stock
exchanges of the world The course OF Erie in London
clearly indicated that these contestants have ceased or
the time 10 buy Erie on the upward turn, and have
ed their tactics to buying the downward grade
Private tcle grams from London state that the decline
there attended with very large sales OF long stock
ana at the NewYOrk Stock Exchange there were inter
during the dav when II seemed II some brokers
could sell stock enough for their constituents. The
break IN Erie has put fnallty 10 the bull move
ment, and staggered the previous confidence IN
a steady advance. Walst. had echoed the week preyl
with fabulous tales OF immense fortunes made on the
Erie. This side Of the story has been told and
now will be heard the chronicles Of the losses Of the
"buls" which have been very heavy the past two days
Doubtless many have concluded that il is easier 10
lose than make money in Erie. This, OF course s not
the experience OF all the spectators who bought Erie on
movement, but nevertheless II Is the e%per
ence Of those who have entered Walst within 1tw
buy Erie. 1t is probable that Erie Will sell Doth
higher and lower than the present price before the con
the election IL decided and ii Is also prob
able that the fluctuations Will be wide and frequent at
intervals in the great fluctuations chance operators
leave their money 20 be divided among brokers and
professional specuatOrs This Will increase the resources
of the professional spectators and give them addl-
tiOnal capital for future operations
ROlstOn President Of the Farmers Loan and Trust
Company stated Yesterday that 10 March "a he had
registered about 10000 shares anu that he believed the
total of transfers wOuid reach $4,000 shares.
1t is stated among the transactions, yesterday,
was a sale made by Daniel Drew to Duncan, sherman &
Co. bankers, OF shares OF Erie at 55 To be de
uvered, at the sellers option, within u months.
The Erie Directors accepted. yesterday the reslgna
ton OF Mr. Drake, and filed the vacancy by the election
OF VIM. WetmOre Cryder OF the old China drm OF Wet
more * Cry der.