New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-22
WALL STREET FLUCTUATIONS.

arocKs NEUTRALITY-SUSPICIOUS. AND COUNTER RUMoRs-
THE c., G. AND 1. C. PANIc-C0L SCOTS DENIAL"
Business in stocks opened amid less noise
and confusion yesterday tho excitement having ma'e
,sIly abated. although unsettled feeling was Cd
ryed among the brokers who take an active interest
n the stock market Hopes have been expressed that
t1hs decline OF the previous day had brought
etooks down to their lowest figures, and there
was feeling OF apprehension when 'ne
earlier dealings indicated resumption OF the
bear" raid. New were started the prlneipal
one being 10 the effect that the President had signed the
Currency bill, and that in anticipation OF Its require
snents loans being called in by the banks
Under the influence Of these the market fell of
from oneduarter to Oneha per cent along the general
tist Pacific Mail and Western Union, however, drop
snng more heavily, the former declining from S9s TO Sa
and the latter from 71s to COT The decline in the
swo aforementioned stocks was attributable, among
other things eontnuedrpors of opposition and COM
petition. On subsequent reports that the President had
not signed the Finance bill there was general rally
throughout the list Pacific Mail TO Al western
Union 10 7s Panama to l0i c. c. and l. c. to 49, New
York Central TO 93s Lake Shore to 7Ii Union Pacific to
li NORTHWEST Common to 49, Preferred TO Cot wabash
10 l2i Erie S62 Rock Island to s1t st. Paul Common
10 sob Ohos 2St and Hannibal AID ST. Joseph Com
mon to 20.
After the second board the market again became
yeaker aud a special attack having been made on Ohio
that stock dropped rs to a. and created fear that
its course would be like c. c. and c. the previous day
in sympathy with this stock, which has always been re-
gsrded as "fancy," Western Union declined from ~
20 10; o. c. and c. from % 10 "a; Pacific Mailfr As
60 4ot Wabash from 42l TO 4iJ Union Pacific from $50
40 3d. St. Paul from S0l TO So Lake Shore from IA to
Rss North West Common from 4Ss to 4i aud New-fork
Central from 9ss 20 org,
Ohio and Mississippi Afterwards advanced to 26t and
The remainder OF the list recovered per cent on re-
ports that President would sign the Currency BILL
but would also recommend the passage Of more desir
nble measure before Congress adjourns.
Tho c. c. and l. c. panic of Monday developed
nothing new The Office OF Capron Merriam on Wall
s was with brokers and their CLERKS desous
of knowing what sort OF a settlement the hrm intended
10 make. They complained that they could not get
satisfactory Information; but late In the day meet
yng of the creditors held, and the firm agreed 10
ete and accept the prices named In tho notifications
OF sale sent to them.
A friend OF the firm referring to their failure, SAID
chat they had made ample arrangements to take care
of their c. @. and I. c. stock, but that the bears
began their raid and frightened brokers VINO were
carrying stocks for the firm. The brokers In question
crushed into the stock market, and without informing
sCapron g. Merriam threw large quantities OF the stock
npon the market, aggregating between 6,oOo and
1900 shares. and thus preciptated panic, and de-
spressed the price from 500 TO ~ Inc proper
oourse brokers TO have pursued was to nave
bold the stock under the rule OF tne Exchange The
principals OF CaprO1 Merriam DoOaEeu Inc nOueet
men, and "stoOd up" 10 their obligations.
The meeting yesterday to effect basis OF settle
spent As the brokers had sold the stock without
notification. there demurriug as to accepting
sheir prices but 1t was finally decided to accept the
modification.
The following telegram has been received from Col
Thomas A Scott:
ITO the Edttor of The Tribune.
RIR All stories connecting with the C., c. and l. @.
EtooE CLIQUE without foundation IN fact. L never
bought OF sold share 1T IN my life Therefore,
belief that there truth IN the story OF my paper
having gone to protest entirely correct aud am
klad Won SO stated II. THOMAS a. oCOTI'
Philadelphia. April 81. 1874
Chancellor Runyon Of New-Jersey has decided that
Hhe sale OF the Montcar Railway by tho receivers 10
william A. Guest. was invalid. The sale at the fore
kosure OF the second mortgage bondhoders April as
will not now be necessary, A. s. Hewitt has been sp
onted receiver of the MOntcar Railway. which, under
Ebia previous receyershlp OF the Midand gives him
control OF the whole line between Jersey City aud
Dswego
: the Erie Directors did not meet yesterday. as ex-
e0ted One OF the officers said explanation that the
demoralizatiOn 10 the Auditors office such that
president Watson could not obtain abstract OF figures
Erom the books OF the Company and that, q result,
IoDe OF the clerks had TO be discharged.
There election OF a trustee OF the Northern
Racitc Railroad yesterday, owing 10 the informally IN
tthe call.
The Directors Of the Pacific Mail Steamship Company
yesterday for the transaction OF routine business
fesd0Dt Russell Sage said that they still have hopes OF
Isneetng arrangements with the Union and Central
tscifc Railroads.