New-York tribune., 1873-02-06
Chic. 4 NV. Con. Toledo 4 wabash. Eric Pref
WEDNESDAY. Feb. 5-P. NJ.


The Syndicate operations and the probable result
Of the negotiation of the remaining three hundred
millions of new fves forms as on yesterday the all
absorbing topic of conversation in financial circles.
strong opposition to the enterprise has been devel
oped among some of the domestic bankers having
branch houses abroad, and aportion of the German
houses reflected to-day in the manipulation of the
London market which was reported feverish and
unsettled some of the United States securities con-
ceding fraction. The loyalty of the movement is
somewhat questionable under the circumstances,
and though its effects were dlscenible only in gold
which took firmer tone, its efforts TO interpose
obstacles to the successful negotiation of the new
fiyes none the less well intentOned De
spite these impedimentS there is no falter-
ing among the eminent houses having the
negotiation in charge, and there is every
expectation that the entire $500 100000 will be taken
up before the books close on Friday night. We are
assured by the home branch of the Syndicate that
the receipts of subscriptions to-day from the Ma
tonal banks and other financial institutions are
greatly in Of yesterday, and that the adyices
from London are also of such favorable nature that
the closing of the entire loan Friday is probable
The amounts of the subscriptions already received
are not stated and probably will not be announced
before the close of the books. We shall then know
which side holds the winning hand
The attention of the stock operators has been
closely centered in Western Union Telegraph, which
has formed the leading feature of speculation on the
Exchange to-day, pretty nearly half of the entire
business done being set down to that speciality The
prices opened at S9l and the stock made brisk
advance to 9l!, from which, under the influence of
active money and sales to realize, the price broke
down to SSs, creating a general tumble in the
remainder of the list Erie dropping from Ga to GG,
New-YOrk Central to l05 and Lake Shore to o. For
a time the whole market was heavy, and continued
weak at the Second Board, when Erie touched G5.,
sellers 80 day option being reported one per cent
lower But the force Of the Telegraph was by no
means expended and the electrical current being
again applied, the price suddenly and rapidly shot
upward as if projected from a catapult until IL
reached o. yielding quarter at the close. The tac
tics displayed in this stock have exhibited the most
consummate skill, and adroitly has it been ma
nipulated that there are indications Of a formidable
corner in it at distant day. What is tG be done
with Erie is as yet an unsolved problem, but
the dealings in it continue large. Lake Shore
one of the strongest stocks on the list,
went down 10 9is. Pacific Mail was neglected at
72iG72s, until about O'clock, when an Albany dis
patch announcing the introduction of a resolution
into the Legislature repeating the certain chapter in
q last years BILL authorizing reduction of the cap
ital stock. broke down the price to 7lI There
nothing of interest in the rest of the list which
weak at the close As to the future course of gen
era speculation, it is quite likely TO be determined
by the Syndicate movements. The opening, highest
lowest and closing prices of stocks as follows