New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-24
have
zee have generally remained steady.

prices have generally remained steady
The recent EXPOSE of the financial condition of Erie
has induced pressure for the sale of some of its
earlier issues of bonds, and the quotations have in
consequence been somewhat reduced. In view of the
fact that the total issue of the Compans bonds from
the first to the fifth mortgage inclusive is only about
$13O00,00O it would seem as if any step toward
preventing the sacrifice Of the Companv's property
local fields for the purpose of paying the june
interest the so-oalled second consolidated
mortgage bonds Gf indeed any feasible meas
ures are open to the earlier bondholders
to prevent the proposed conditional sale of
the coal lands in question: could only be taken
with the object OF preventing temporary decline in
the prices of the earlier issues in question since all
those bonds, up to the fifth mortgage, must be re-
garded as ultimately good securities in any event.
The stock market during the week has been more
than usually active but at declining prices the de-
preston ranging upon the active list from 1 to 37s
per cent with the final prices in many instances at
the lowest Of the week. The total sales have ag-
gregated very nearly 100000 shares. The
decline has been marked by but few reac-
tons of special moment, and spectators have
been puzzled at the persistency with which
prices have obstnately refused to rally; but
to the ordinary mortal who may not possibly under
stand all the mysteries of stock speculation it seems
but the natural result of the exposures which have
followed one after another, exhibiting rottenness
where fair degree of health had been supposed to
exist until the public mind has come to distrust all
corporations whose managers refuse to furnish for
publication such information concerning their
affairs as stockholders and the general public have
a reasonable right TO demand. But stock
holders themselves are not unfrequently TO blame
for the mismanagement of the properties which they
intrust TO the care of directors. For instance call
IL T.
day had been issued and extensively advertised but
little interest did the bona do of the stock
take in the COmpany's affairs that at the hour
named of the Is or 20 gentlemen present probably
not more than two or three there in any other
capacity than that of curiosity seekers. SO
long as stockholders will pay so little atten-
ton to the properties in which they
are interested, it would seem as if they
should not be surprised when the time arrives which
forces acknowledgment Of bankruptcy from the
trustees Eric has naturally attracted the greatest
attention from spectators since the report of its
affairs by President Jewett, and the sales of that
stock during the week closing to-day have amounted
to very nearly 500, 900 shares The price declined
to q =, bat On attempted locking up of cash
stock rallied TO 2i3i and as quickly dropped to
22s4 9227s. Pacific Mail, Lake Shore, North
Western, st. Paul. and Wabash have all been heav-
lily pressed for sale, and close the week al about
the lowest points while such stocks as Kansas Pa
eiic, st. Louis, Kansas City and Northern, and Mis-
souri,, Kansas and Texas are almost without quo
tation. II will be seen by our usual weekly table
Of sales that of the unusually large amount of bust
ness amounting TO 81, 1913, 412 shares l. 400,
900 were done in the four for the time being leading
stocks viz Erie. 400, 197 shares Lake Shore 49,,
80 Pacific Mail, Sos, $50. and Western 2205lO,
making a total of 1,433,717 shares, all which
shows, if evidence wanting, that the market Is
manipulated and not a natural one. The subjoned
table shows the extreme fluctuations in United
States bonds, the leading railway aud miscellaneous
shares as well as gold, and tie closing quotations
of each at the dates undermontioned, also the NUM-
Der of shares of each leading stock sold: