The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-14
In WALL STREET.

There seems now to be another source of mis-.
giving among the various Wall street clIques who
have been endeavoring for some time to obtain con-
troll OF Erie. In the first excited outbreak OF ex.
ultation at the fall OF Gould and the Ring OF which
he was the chief, all seemed TO recognize that
new era OF honesty had been inaugurated, and that
the road wonld be run exclusively IN the interest
OF the capitalist who nan invested their money In
this great American highway. And certainly the
high character Of many Of the names In the new
directory preciudes the possibility OF another car
nival Of corruption, such as that which held sway
under the administration OF
THE DEPosED CHIEFTAIN
and his satellites. But in sucn an arena the purest
and best OF men seem exposed to suspicion, and
already startled cry has been set up by the rival
Ciiqes that the recent revolution Is but successful
carrying ont OF scheme to transfer Erie into the
hands Ur Mr. McHenry and the Atlantic and Great
Western Railway. A circular was issuediast even
Hams, setting forth this view. and urging the
Legislature 10 still pass the '.Southmayd biil'' IN
order that new election OF directors may be held
WHO ARE THE sIGNERs'
MI. Clerk Is the President OF the Stock Exchange,
aud the other names are well known IN Wall
street. A reporter or the HERALD yesterday called
upon Mr. Manley to ascertain II possible, the facts
upon which the foregoing document has been
framed and issued. Mr. Manley, however, declined
10 say anything more than repeat the general state
ments contained In the paper itself.
III would be altogether Improper for the present."
said he, 'for me to say anything more than the
prudent to publish IN the newspapers. That paper
was published principally with the view Of inform.
ing the stockhOlders OF what We thought OF their
prospects and so 10 prevent their beng obliged TO
come to our offices In quest OF information"
Of aciionpn asked the reporter. ' -'-O '' ~
.ry Possibly ,'s put as to that can say nothing I'M AZ
any further particulars shall be pleased to DO So
FOR AND AGAINST.
The friends OF the new directors strenu0usly re-
Off
who are represented by this committee, and claim
that under the new administration the just rights
wi not se governed with regard to The 'O IN
s .erests Sove ANY particular clique. on tho
OF opinion about this matter. The brokers and
railroad men are however jubiant over the general
the disclosures The frauds on the CITY and Inc an
parent vanity OF alleiforts TO the Ere RING mad
securities except those guaraneed by the rorern
,nent 10 the lowest ebb and there the best DOS
see an 70 d esr mat Il Would be ms
ment Of our resources. But the overthrow OF
1,,o, a. .n.S TnE T "a INA Gox BIG,
It Ia claimed, at once restore the credit and The
popularity of american stocks on inc London
centres Of the rest OF Europe. All houses therefore,
which are Interested in tlenegoiation OF new loans
selves upon the facility with which they can now
set about their task: There are some older
plant OF slow a srow sam and ssas esen
though We have thus shown 'sfruit meet for
repentance" WIN take years 10 destroy rne In
nuence OF the evil days out OF which we now con.
graduate ourselves upon having emerged. But
perhaps European capitalists already understand
perfectly well that the scandals, now swept away,
were but the
ACCIDENTAL SUCCESSES
OF villauy. Which nave Stained the financial history
OF every great centre OF wealth. In France. for
example, there occurred some almost equally
shameful frauds within the recollection even OF
young men-such frauds az those OF M,re;s
and the Pereires. And who has forgotten
the wonderful story OF the Oyerend, Cur
ney failure In Engand9 These were trans
actions which nearly riyalled, In extent
as well az in pecnniary crimlnallty, any Of the
chapters OF Erie. Yet they are now almost forgot.
ten, and Engllshmen and Frenchmen are as eager
as ever 10 speculate beneath the standard OF chiefs
10 the full as INSCRIPTIONS as those who thus de-
ceiyed them. The prospecL OF great gains and high
Interest VIM always resce capitalists TO cert AIN
amount Of FISK in the security.
THE ERIE STOCKS.
EYE steadily advanced yesterday. but toe uane.