The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-09-09
WALL STREET NOTES.

THE STORIES ABOUT ERIE-HoN DAVID A. WELLS
SAID TO BE IN THE NEW BoARD-BkRLow
suENT-sm WILLIAM THOMSON TO GOLD
PROBABILITIES '-RUIoRED CONSOLIDATION OF
THE CENTRAL AND UNION PACIFIC RAILROADS.
The "rumor committee" seemed to be in session
again yesterday, to judge OF the thousand and one
reports aoat the in reference 10 this corpora
ton When it became known that Sir Edward Watkn
had sailed for Europe in the Russia Erie stock suddenly
advanced the hypothesis that the titled investigator
had something very important TO communicate to the
London stockholders. This idea strengthened by
the fact that the baroncts previous cabegrams had
been made known on the London Stock Exchange, and
supposed to be favorable to reorganization of the
company and its being placed in the hands
of the stockholders for the development of its interests
Mr. David A. Wells, it understood, had been named
in place of Mr. s. L. NJ Barlow director but the lat
ter gentleman when questioned regard the matter
by HERALD representative declined either to affirm or
deny the statement or course the position of Mr..
Wells is well known all financial matters; his
"Crced OF Free Trade" in the August number of the
Atlantic Monthly occasoned no comment, but from his
letter. dated at Watch HILL August IS prominent
banker this CITY, it may reasonably be inferred that
every measure Of imitation will meet his views and
that
NEW ISSUE
at distant day may be confidently predc:ed if Mr.
Wells counsels prevail in the accredited organization
of the Board. The President of the North River
Savings Bank (Mr John Hooper, formerly Chairman of
the Erie Protection Committee, protests warmly against
the present AngoAmerican bargain and SALE and does
not hesitate to say that the Jewet Barlow combination
in the interest OF Jay Gould There many men,
too Wall street who declare that the actions OF Mr.
Jewett prior to the appointment Of himself as
receiver, were very suspicious; Tor instance,
when the stock declining, a damaging re-
port was made, signed by the President-the bad
business was paraded, and If Mr. Jowe had been short
OF the stock he could not have played moro eecualy
into the hands Of the ''bcars." prominent William
SPECTATOR Mr. Russell Sage, Is said be heavily
long OF Erie at the present tme and as he has sold
puts thousands of shares, 1t is believed he manipu
iatng the market for rise As he is accredited with
wealth, and is said TO be in league with Mr.
Jay Goulda former antagonist-in "bulling' Western
Union and Pacific Mall it is not unlikely that the next
few days will develop lively fluctuations especially
as the
FRANK WORK PARTY
accuse their late CONDUCTORS Of bad faith and declare
that the arrangements with western Union were broken
or by the Atlantic and Pacific Telegraph Company at
the insgaton OF Mr. Gould, who had sold out his hold
ings in the former stock AT all events, sit is very
pretty quarrel as ii stands and nobody should inter
iere with the pleasant pastime of the Kilkenny cats.
DIRECT CABLE COMPANY
forwarded yesterday the following despatch, which will
doubtless be read with great interest throughout tho
| whole country
professor PIERCE United States Coast Survey, Wash
! ingtOn, d. G. -
''fhrough the direct United States cable now happily
! COmplcIcu, congratulate you on TINS new DOnd Dc
tween the old and countries and express hope that
may be sometimes useful in communication Of scien
! tihc results. 'Sir WILLIAM THOMSON,
! "Unversity, Glasgow"
| RAILROAD CONSOLIDATION
There was report yesterday that the consolidation
| OF the Central and Union Pacific railroads
compishcd fact The HERALD representative went to
the Office Of the company for information and was
there informed that Mr. p Huntington, tho president
of tho former company, not In the cy--beng en-
route from Calilorna--and that inform
alton of the character Indicated In
| the possession OF tho employees Of the
road. Mr.. Fisk, Of Fisk Hatch Nassau street. bankers
said 81 think il is only question Of time the conso
! idaton spoken Of but when the scheme s ripe the
Union Pacific Railroad must agree 70 tho terms Of the
Central Pacific, with earnings enormous, and 1nan-
cal condition simply imprcgnablo"
Mr. BUSHNELL one of the projectors OF the Union Pa
chc Railroad, sad-"l do not know whether the con-
solidation is effected but think the Central directors
would DO very glad have their stock distributed and
placed permanently after the OF the Union Pa
chc of course the interests OF both roads nearly
IDENTICAL and II Is to be hoped In this age OF consoda
tons, the directors may find plan TO harmonic
all conflicting matters and come together in working
order IN order that tho stockholders shall reap tho
| fruits OF Joint oconomyn