The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-07-15
FINANCIAL and COMMERCIAL.
TIE NEW DIRECTION OF ERIE.
"A Quiet Election and Almost
Uncontested Choice.
Stocks Dull and Heavy-GOld
Barely Steady.
WALL STREET,
TUESDAY, July I4-6 p. M

TUESDAY, July l4-6 i. N.
The fresh subject OF interest on the street to-day
was the election in Erie, which resulted in the
election OF the following ticket in reality that OF
the English holders of the stock Hugh J. Jewett
Thomas A. Scott John King, Jr., John Taylor John
stOn, N. A. Roberts, Frederick Schuchardt w.
Butler Duncan, e. D. Morgan Fl. Baltzer s. L. M
Barlow L. II. Myer, II. G. Stebbins Il. Suydam
Grant, Lucius Robinson, John A. G. Gray, Cort
landt Parker, homer Ramsdell Subseq ne lilly the
new direction organized with Hugh ]. Jewett as
President, and elected A. r. McDonough Secre.
tary and W. p. Sherman, OF Duncan, Sherman Il
CO.. Treasurer. The result OF the cleo
ton had been previously discounted, hence
decline In the stock in the after
noon, which was also helped Dy the
fact that report had been industriously circu-
lated that statement would be presented at the
meeting to-day, on the part of the English exam
liners, of favorable character, which report not
appearing disappointed those long OF the stock
and brought about sales. The source
WHENCE
this report emauated may be judged from the fact
tnat IL helped to make market upon which good
deal OF stock was unlOaded during the past few
days. The suggestion made here some days ago,
TO the erect that these rumors as to the tone Of
the repOr. which the English examiners would
make did not certainly emanate from them nor
sfUm Cne Cnen exStlng QirectlOn, aS sucn would
have been, leaving the question OF good taste
aside, manifest Ill policy in the latter and breach
OF trust to their employers in the former, and that
the inspiration Of such rumors would probably
De apparent later, seems to be borne out BY the
present attitude of the market, In which the
n0n-appearance Of this report IS used to depre-
cate Erie shares. The decline to-day, however,
was not much, being only IL per cent between
the highest and lowest figures OF the day. OF
Also attempted to be made or the possibility of
some OF the new men on the ticket not consenting
TO serve, such new men being Jewett Scott, King,
Roberts, Myer Stebbins Grant and Gray, but the
later organization OF the Board and the broad
statement made after the electon-that all OF the
gentlemen would serve-destroyed this ''poin..n
THE STOCK MARKET GENERALLY
opened firm, with an advance OF 4 to u per
cent az compared with the closing prices OF last
evening. which was followed by decline Of to
" per cent from which there was partial re-
covery after the first CALL In the afternoon the
market again became weak in the absence OF
buyers, and the languishing tone of speculation
generally consequent upon the superior atrrac-
tons OF Saratoga, Long Branch and other places
OF that kind. Just before the close prices went
on 4 to l2s per cent from the highest figures OF
the day. The principal business was in Lake
Snore Western Union and Erie. The subjoned
table shows
THE EXTREME FIGURES
OF the day and the amount or sales In each stock,
the total being 113, 400 OF which over $4,000 were
In the stocks mentioned