New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-25

- =, a. Al A furious drive was also made
80. western Union, which broke down two
-" cont 10 543. other shares sympathizing in
r. boo,isb sentiment thus suddenly produced to the
ox,ant of to Il per cent. BY noon more sensible
feeling had gained possession of the street, and
nrices began to recover smartly and IN most
instances the best prices were reached In the up
ward reaction, the returning confdence-h conn
dence it may be called-being, however,
unaccompanied by any considerable activity,
and, indeed, during the greater part of the
afternoon the market was dull and fea-
tureless. Until however, all the acknowledgements
naturally arising from the Grinnel affair are
Strengthened ont and the banks regain their usual
and firm position of strength, we cannot reasonably
look for an active and healthy business in stocks
The larger dealings after Lake Shore, were III NJ l.
Central Western Union, Union Pacific. Wabash, ana
Rock Island But the real occasion OF the
recovery may he briefly stated in the fact that Coih
modore Vanderbilt finally arranged the Sl,75O'"o
loan NOV nearly 81 100000 of the Lake Shore kaii
road Company at the Union Trust Company The
Commodore settles the matter by giving the notes
of the Lake Shore Company at three, SIX, ana nine
months secured by the stock of the Harlem haii-
road Company at 90 per cent. This will doubtless
secure the payment of the notes at maturity whether
the Lake Shore Company be able to respond or not
This unadiusted loan, with its possible issue,
has been hanging over the market like cloud for
many weeks and its removal to-day VIII do Inuch
TO restore TO the street satisfactory feeling III
the future The street has been filed with Hood
of rumors about the condition of the Lake Shore
Company as being on the eve of bankruptcy, but
they were so much exaggerated that they overshot
the mark and failed, with temporary exception, III
their effect II is difficult to obtain the exact facts
concerning the alleged deficiency in the funds or assets
of the Lake Shore Company, but we learn from
respectable gentleman, claiming to know WHEREOF
he afrms that the late Executive Committee OF the
Company-Horace l.. Clark, James III. Banker, ana
Augustus Schell-purchased a large amount OF the
AXE Shore stock on account of the Company, OF
course using the CompaDys funds securities, the
purchase being for the purpose. as 1t might
sugqest itself 10 an unregenerate mind, OF
advancing the market value of stock held by
themselves as individuals. As the story runs,
when Commodore Vanderbilt became President OF
the Company be insisted that the transaction on the
mart Of the Executive Committee improper and
Illegal and that the gentlemen named should shout
der the load themselves and relieve the road from
the losses incurred by their unauthorized transac-
ton Ii is further stated up0n the same authority
FIAT Mr. Banker has already put mp security
for the paynent Of his share OF the
loss that Mr. Sche is about to do the same 70 far IA
his share is concerned, and that Commodore van
derbilt promises that the remainder shall be pro-
tected bv the Clark estate by HIMSELF so that IN
any event the stockholders shall be protected. We
hone that these promises may he fulfilled. Tie
opening highest lowest and closing prices of active
L. Il. Il 20, Il &c fol