The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-26
An Uncertain Stock Market and a Waiting
Disposition on the Part Of Operators
G o Il = Il 9 ID.
Money Per Cent-Foreign Exchange Quiet
Investment Securities Unchanged,
WALL STREET,
TUESDAY, May 25-6 P. v.

TUESDAY, May 25-6 ?. NJ
The stock market was generally weak, Erie
generally giving tone 70 the market by fresh
lales induced by the report that the Delaware,
Lackawanna and Western Railroad and the Della
ware ana HUDSON Canal Company had refused 10
come to the relief Or the Etie Ia the matter Of It's
July interest payment.
The persistent h0mmering OF this stock, which
has been the Distinguishing feature OF the market
during the past lew days, seems to confirm the
street In the belief that the objective purpose IS
TO reiastate Mr. could in the Board Of Directors,
whence he was once SO ANONYMOUSLY expelled by
Sucn questionable means tuat only the fact that
Iucn means were rendered ABSOLUTELY necessary In
the then existing crisis 70 save the road rom utter
pilage and destruction justified the course pur-
sued In the current public sentiment only
THE POPULAR ACcEPTArIoS or Nh. GoULD's CON-
PLETE UNwoRIHINEss
OF the trust connded TO him uf II ever was SO con-
udedl obtained Tor those VINO executed that coup
1e qr-dce whereby Fisk ana Gould were expelled
rom the Erie ofices by mere strategy and force,
forgiveness aud condonaton for having outraged
long cherished traditions 81 the supreme author
ity Of law. saould Mr. Goulo return to the Erie
direction-as IL Is asserted ne intends doing-wtth
the consent Of some or those men who before
plotted to Dust him, it will be revolution in feel
ing and sentiment certainly not calculated TO I'M
prove our character abroad. When inquire
further and ina that the intrigues or the bear
clique in Erie are not merely confined 70 the stock
Exchange but nave been extended to Albany. and
now embrace
A BILL N THE GOVERNORS HANDS
awaiting his signature when permits the post
ponement Of the Erie election from June Is to Sep
teuber 1s, thus, a. il were, seeking 70 make as
doubly sure Of Gould's success IN control
ling the next election, We md what i the extent
ott ~ vOr n he RE q
the extent perhaps, or
THRusTISG the ROAD INTO BANKRUPTCY
without any power on the part Or the English
shareholders 10 help thems This oil re-
ferred to clearly reelected some such instructive
purpose in provisions, alterward stricken out,
which virtually aimed at excluding the foreign
stockholders from a vote 10 the election OF a new
direction the extension or the franchise TO the
nrst mortgage bondnoders. As the BIN now
stands its only dangerous provision is in giving
Mr.. Gould more time ID winch 70 manipulate the
stock SO that ne can take l. IN a. cheap
agures The Governor, however, may be
disposed to interfere with this programme.
in which the oreign stockholders, whose trust is
rather in the law-nakng power OF the state 20
preserve their property rights than IN sucn an
ephemeral BODY as a board OF direction, nave
never been consulted.
rHE STATE OWES SOMETHING 10 ITS DIGNITY
In a matter Of this Kind We nave, for
tunately nothing TO tear rom Reputation
here that would STAN the spotless credit
Of our proud Commonwealth IN the money
marts Of Europe. Il Il to be presumed
that this EFFORT at connscation on the part OF
ring OF spectators uor when you deprive the
foreign stakeholder Or his vote you virtually de-
prive him or the property that vote was intended
20 proiecu viii not receive the sanction Of Gov
ernor Tuden. Hence, i would be well Tor some or
the SPECTATORS Ia Eie who free 20 20
asnort'' Of tie stock ID view 81 certain post
ponement Of tae election, 81 contemplate posi-
Die veto ~ the Governor 81 the BIZ authorizing
Iuch postp0uement, aud an election June 10,
While Il i equally important they ahouid bear in
mind the possibility u foreclosure under new
direction win j complete liquidation.
TIE STOCK HARKET
oponed with slight changes, these generally being
advances. Erie continued tile special feature.
AM moyea independently ~ the remainder Or the
hist IL opened at ~ gna late sold AZ 1915
2O5s 10. 4 40l 4 lgs, lsi,. the present. price
beirR lsss The remainder pr the hst declined Z
as. Dy nalfpast twelve o'c ocE, aud subsequently
recovered Z ] IS. DE general market being steady.
Tne STOCK marget AZ the second Board advanced
" and tue general ,ist improved fraction. Before
the close of tie Board tue market again became
weak and prices lei, z / FER cent Panama eu
iroun Ia o l35. Ii the ate dealings the market
advanced y 10 E per cent, the latter Lake shore.
me golo Wing were ne