The New York herald., 1872-12-21
THE ERIE EXCITEMENT.
JAY COOKE a 90.

Jay Gould's Realization and the Enect
In Wall Street-A Brisk Day I'm ERIE
shares-Enormous Transactions and
Lively Fluctuations.
The great feature Of the day In Wall street was
OF course the fluctuations and the enormous trans
actions in Erie. The London market. although on
the first information Of the restitution made Dy
Jay Gould-a restitution, by the way, altogether
unprecedented In amount in the annals OF disputed
ownership-it acted with the traditional stodity
or Anglo-saxon character, started yesterday into
lively state OF efervescing enthusiasm. The cable
quotations showed q rise of several per cent upon
the closing prices at the London Exchange the pre-
vious evening, and In own market, the rush
upwards was in the earlier hours OF the day strong
and steady.
STREET GOSSIP.
In the course OF this upward movement the
brokers amused themselves in the intervals OF buy.
ing and selling with many humorous and admiring
remarks upon the action Of the little backbearded
nnancier who had borrowed and returned upoa
such a magnificent and princey scale.
''why SIR said one ''he will make II all back
and more, too, in the appreciation OF the stock.
He has 25O 900 shares that we know or Let him
keep them few months and he can quietly unload
them II he wishes to do SO, at par. That will be .
profit OF fifty per cent-$12, 500 0O0-several times
as much as his share OF the Northwestern corner
came to. II Is the most brilliant coup In financial
history And this was the
KEY NOTE OF POPULAR OPINION
IN the sire et which Is optmist In Its philosophy,
and Is so happy when 1t Is able, as In The
present instance, to fall down and worship sue
cess. Nothing succeeds like success Is certainly
true OF brokers, and just now Gould seems noating
forward on the rising food OF prosperity, beyond All
security and general popularity. or cou'se should
his dreams OF the glorious future OF the system Oh
American railroads. to which he has pinned MS fOr-
tunes, prove deluslve he will drop downward with
the same sudden speed. Then
THE DARKER PASSAGES
of mis- career will again stand out wei denned ana
distinct in the memories OF his fellow stock gsm-
blers and he will again be enwrapped Win tno
At the close OF the day in England, however, tho
stock again dropped from its highest ngures ABOUT
rom the effect OF this decline before the close Of
the day and terminated somewhere In tie neigh
borhood Of so. Many people, indeed, as soon as
'''' THE ENGLISH MARKET
was removed, began to take scarcely 30 sanguine
q view OF the future OF Erie. Not s week ago,
probably, there had been many who lad Thought
that the price greatly inflated, ard that taking
mon stock IL could never again rise TO the neigh
borhood OF para rise which would naturally
paid on Central Lake shore and Rock Island. And
for a season this class again got the ear OF the
public and poured into II an endless stream OF
DEPRECATORY WHISPERS.
with the vast volume OF stock Merely five loayea
and few small fishes, to speak nguratively, TO oe
divided among q great multitude; and what were
they among so many Mr.. Goulds programme "a
railroad prosperity was also fearlessy ana nlc'~
lessly criticised. Thus
TUE BULLS AND BEARS -, 49,
again asserted themselves, as they alwass asrtmcHs
only In Wall street. but In every otner oepnI snVnS
OF speculative operations. Which IS rigns a may "
safely left for the uture to determ1S, S ,n0 "sr
ticuar tone OF mind dictates to them 70 tue IONA
or the short side Of tue coatroversys