The New York herald., 1875-09-22
FINANCIAL AND COMMERCIAL.
The Stock Market IrreguIar---Erie
LOWer--Excitement in London.
GOLD III 1-S--116 3-4--116 rs.
Money Tending Upward-A Better Demand for
Currency from the InterOr-Govern-
ment and Good Railway Bonds
in Fair Request
WALL STREET,

TUESDAY, Sept. 21-6 p NJ.
The most active among the fancy securities to-day
was Lake Shore of which sales of nearly 900 shares
are recorded The price at time advanced to S.
The stock is said TO have been principally sustained by
the shorts who rushed in to cover anticipating higher
dgures yet the close such weakness shown
to induce the suspicion that parties have entered
the field and awaiting further profits the down
side. When transactions confined to small con-
etuency represented chiefly b brokers and local spec
uators quick changes will naturally occur and these
afford indication Of the strength or backing of
stock The misfortune of Wall street at the present
moment is that it has little outside support and
Its vast interests left to the ambitious manipu-
7atons of few bold operators The largest decline of
she day shown in Erie which, after opening at III
and advancing to 17I, fell or to 162G the sales
amounting to $4,000 shares. In this connection Sir
Edward Watkins report, specially telegraphed from
London 10 the Erening Telegram will be read with in
terest Its points are as follows:-
Should 1t be possible under President Jewetts
Agement to make the working expenses seventy per
cent OF what they now are additional net profit of
600 900 would result We shall all watch anxiousy
The effect Of the recent changes in the management
already hopefully commencing
Exceptional gauge involves exceptional working cost
In more prosperous times the national gauge must be
adopted.
The mismanagement of years past cannot all at once
be remeded modified.
1t would be as impossible as unwse in the present
state OF the affairs OF Erie to raise or TO remit any moro
English capital
can recommend policy but the policy Of self
redemption.
The railway must pay its debt as far as possible by the
use OF that part of the net earnings which the courts
II the difficulty had been fairly looked in the face
In 1872 much that has been lost could been
As 1t is now, discipline and economy are once more
fully established
to period OF selfdenia resting assured that their
interests are placed in firm honest hands, undehled by
speculation.
The undertaking must again-be made selfsupporting
The receivership is worked in cordial concert with
all of the honest interests of the company and Mr..
Jewet will give a strong hand and resist intrigues.
The rcceivership, under the circumstances, is the
best alternative possible and can only advise you
to rely upon the honor and upon the anxious labor
ripe experience OF Receiver Jewett.
He deserves support, and will do all that is pos
sbe to retrieve the fortune and honor of the under
taking.
Whatever course may be decided on by English and
foreign holders VIII be adopted in the United States in
hearty and full spirit OF cooperation.
public meeting is to be held when Mr. Morris ar
rives.
The English market in Erie exhibits considerable de-
preston and time according cablograms, the
decline amounted from five eight per the bonds
with common stock selling as low lax. Later the
latter rallied to 15H The last despatch says that
tThe statement in Sir Edward Watkins report that the
net revenue of the road is only twenty per OF
the gross receipts and the outstanding debts equal to
fourteen months profit much disappointment in
financial circles"
The close of
TIE STOCK MARKET
was Irregular Lake Shore recovered from 53s to 54
Northwest from 391t TO 39h, Pacific Mail from 35S to
36X, Western Union from &c to 704, ex dividend and
Quicksilver from 10 to 15S for the common and from
20 to 2OH for the preferred. Missouri Pacific was firm
at AT AK, Rock Island at 1072l los and New York
Central at 1854 1884 Union Pacific reacted from
Tx to ia. Ohios and MIssssipps recedcd from III
16k closing the last named price Hannibal and
ST. Joseph stgened to 81 Atlantic and Pacific Tele
graph was steady at 20 2Oh.
follows, the aggregate being about 1913, 900
shares:-Erie $500; Lake Shore, $3.50; North
western, $780, do. preferred 100; Rock Island 425;
Pacific Mail, 20 700; ST. Paul, $500; do preferred.
1900; ohios, $780, Western Union, 27,947; Union
Pacific, 1900; c., C. and l. c., 200
OPENING, HIGHEST LOWEST PRICES.
The following table shows the opening, highest and
lowest prices Of the daV:-