New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-05-27
WEDNESDAY, May 26-P. NJ.


The stock market opened this morning with
decidedly weak tone and with considerable excite
ment prices having been within the first five minutes
from 4 to s per cent below the final quotations OF
last evening, and this was followed by subsequent
rallies and reactions, which were of frequent occur
renee during tho remainder Of the day. Naturally
enough Erie continues to respond to recent develop
ments and shows decline of 1ls per cent from last
nights prices, notwithstanding the very large de-
mand for the stock from the shorts, who
assumed that the combination had been
reached by the appointment OF receiver
for the Company and steadily bought the stock all
day. 1t is probably safe to assume that OF the
800 shares sold during the day. at least onc-haf
was bought by the "bears" The fact that Erie has
to-day passed from the control of its stockholders
into the hands of receiver would to fully vim
dicate the remarks which we have heretofore
made concerning the condition Of the Company's
affairs but it is perhaps proper to remark that
when we said in Monday mornings TRIBUNE that
the call for meeting of the Erie stock
holders had been exclusively advertised we were
not aware of the fact that the advertisement
had not appeared in The World newspaper. Erie
opened at 1SR170164@1712, over 10000 shares
having been bought and sold at these figures before
1890 O'clock after which the dealings in this stock
were unerestipg at about II, until near the close,
when the dehand from the Street increasing as the
hour Of adjournment approached, the stock again
cold at 173s, closing at 174017ss. When it is re-
mcmbered that there $50, 900 shares OF the Enc
stock which is likely to seek market as the caiam-
ity to the road becomes more perfectly under
stood there can be no reasonable doubt that
the demands for the stock at the Exchange
will be readily supplied. Private dispatches from
London auotc Erie in that market after Board hours
at 147s and dull at that which may be considered
as about equal to the same price in currency here
Western Union opened heavy at 76's070's, ana
after rally to 76l4 sold back to 1884 closing al
7GL. There was much disappointment expressed at
the failure yesterday Of tho proposed loan; but we
are informed that already large proportion OF the
holders of the bonds due in November next have sig
nied their willingness to accept OF the new bonds az
9 in exchange for the old that there seems to be
no serious difficulty about the taking up of the matur
ing bonds. Tho transactions in Western Union
stock to-day amounted to 49,380 shares. Pacific
Mail opened at 36l4 and sold at 80 7sa37d3o'sa
36la a decline of ii per cent from last night The
annual election for directorso of this Company, which
occurred to-day, resulted in the reelection OF the
present Board by unanimous vote OF 49, Az shares
Union Pacific was quiet OIL sales of only 200 shares
| at 744074140747s. The daily report OF the earn
| ings of this road continue to show extraordinary
gains, the average gain for "a days OF May having
been $4,000 per day. Northwestern, with sales
Of s,4OO shares at 377s039lsG 3si2039, exhibited
considerable strength, making gain of 1is per cent
ON the days transactions. ST. Paul also was
strong, $500 shares selling at 33@32%@
33ss, o gain Of g per cent. Lake Shore
was traded in to the extent Of 67700 shares at 642
064ls065is0643s064Hs a loss of L per cent from
last nights final price. Ohio and Mississippi shows
gain of % per cent on 900 shares at
Q23la. Rock Island also gains PERCENT, wthsales
of 4, 100 shares at 1880 go 1O3sQ1 1922 The
total business of the day amounted to the purchase
and sale of 800, 400 shares. The market closed
somewhat irregular, but moderately firm. The
opening, highest lowest and closing prices of active
stocks sold to-day will be found in the following ia