The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-06-23
WALL STREET NOTES.
TIE SENSATIONAL RUMons INFLUENCING THE

THE SENSATIONAL RUMoRs INFLUENCING THE
MARKHAM ANALYSIS OF THEIR VALUE.
There was the customary disposition on the
street yesterday which was quite enthusiastic
over the rumored go cut OF subsidy IRON the
Australian government to Pacinc Mail for Il
monthly steamer between san Francisco ana
sydney or Melbourne the day previous, 10 EXHIBIT
distrust OF any sucn arrangement. The reiicence
OF Pacific Mail officials in this city on the subject,
OF course, helped this Encouragement, the stock
gong of in consequence, but those who sill pos
sess their falta IN
THE POSSIBILITIES OF THE FUTURE
hold still that although tue matter may not
yet have reached a definite conclusion and the
sum be exaggerated, there Is no su llcient ground
for total denial OF the story. They point 60 he
fact that having lost the carrying trade OF the At
lantic without any prospect OF Its early recovery
we, as a nation. should make every endeavor TO
gain the control OF that or the Pacific winch Is OF
right our special privilege. Tina. nothing would
serve more TO reinstate Pacific Mail III public
favor rhan the TACT thar 1t had made progress in
that direction, by becoming associated with the
commercial prosperity or so 1ourshlng colony
as Australia, Is
UNDoUBTED TRUTH.
Besides Australia would derive great advantage
in service such as is proposed the cost OF trans
portatlon via san Francisco anu New York being
consequence OF The extravagant tolls charged on
the canal, and the route by the cape OF Good
lode being too long for the eAlgencies OF modern
commercial enterprise. Tue developement OF
tins character OF expansion IN corporation IKE
Pacific Mali deserves every announcements from
Inc trends OF American maritime revival, rather
than siurS calculated to interrupt negotiations or
TINS Character
ERIE AT HOME AND ABROAD.
Erie was better III London yesterday 10 the eX-
tent or Ia per cent, on adVces received ron
here In response TO the inquiry made or Kernans
ton oil the rOau ana It's nuauclai status rms IN
formation as furnished by "A promlnen n member o +
the present suspended direction and an attorney
OF the road, was TO the effect that the statement
OF assets promised by the receiver was not yet
ready, being WORK OF mucn labor and involving
considerable time III It's proper presentation.
Further. that there were tnree orecosure suits
pending against the road, the first in order OF
priority OF inception being tnat OF Attorney Gen.
eral rratt on behalf OF
THE PEOPLE AGAINST ERIE,
which is only revival or the old Angel suit, with
the conduct Of whIcn Mr.. Pratt was not satisfied,
SO lar the interests OF the great BODY OF stock
holders was concerned, and in which he forced
dlsconunuance by taking up the matter himself
ond consolidated mortgage recently negotiated
through the London Banking Company with MIR.
hcHenry's valuable assistance.
THE SECOND SUIT
is by the trustees OF tails mortgage joined IN the
action with the trustees OF the hrst consolidated
mortgage, In when the same point IS involved.
The third Is a suit recently begun oy the NTH
mortgage bondholders Tor the late default or IN
terest These lacts are not all new, but the pro-
verbal short memory OF the street requires their
repetition at the present time, To show the exact
legitimate influences operating upon Erie ut the
present time, at home and abroad. In the same
connection, 1t is as well To recall that Mr. Jewett,
having been appointed receiver In all or these
SUITS also been instructed 10 meet all interest
ooligatlons above the attn mortgage SO lar as tue
net earnings or the road will permit.
LATE LONDON ADvICEs
yesterday stated that u meeting Of Erie bond
noNers had been called in that city by parties
representing fl.O0o000 sterling TO convene July
for the purpose 81 auopung protective measures
10 look amer their interests: lnis looks Ike =
repetition OF the scare wHlcn during the FISK ana
Gould association brought tine London Protective
Association INTO existence. VINO, III lear oil daily
watering, took the precautlon OF stamping STOCK
tney regarded as a good delivery. 1he shadow OF
Gould evidently fingers somewhere In the pre-
clncts OF Lombard street, frightening BANKERS
from their pfoprlety. Our laws are competent and
Erie creditors without the necessity OF resorting
10 combinations OF the character suggested.
THE BEARS on THE RAMPAGE.
Last evening, after tue close Oh the stock Ex-
ties antagonistic to Commodore Vanderbilt to
make break Ia Lake Saore, mere and on the
otaer side, and the rumor was freely circulated
that Mr. Vanderbilt had been selling out largely
story was circulated that Lake Shore was about
declaring q dividend two per cent. Last
evening q HERALD reporter was Instructed
TO can upon the Commodore and gam
many well fought steamboat and railroad
contest was found al home, and looking hale ana
jovial as usual, aud good Tor twenty years more
experience in wall street. Tue reporter tolt MIN
ms errand, and the Commodore seemed much
amused at what was being attempted, and this is
what ne said tine rumors you have told me or
are pur4 iabrlcattons. have not been selling to-
day, and what the dividend on Lake SHORE viii be
can't tell, as tue accounts are not made up I'LL
July. whatever tue road earns Will be divided
among the snareholders-ol that you may be