The New York herald., 1875-10-09
WALL STREET NOTES.

THE NORTHWEST BUBBLE ExPLoDED-THE M
vEsrMENT STOCKS UNDER THE HAMMER
CHARLES FRANCIS ADAMS ON RAILROAD NAT
TIERS.
The brief notice made in this column yesterday OF
the split in the pool OF the Northwestern cique-a-
though exclusively reported herehad the effect In the
early transactions OF causing decline in the stock
These shares among the nrmes held in the mar
ket and when the inquiries made early yesterday
morning to tho truth OF the HERALD's statements
they were confirmed by the principal operators in the
stock. Upon this there a general throwing over
board OF the holdings. The truthfuness OF the Wall
Street Notes. comments questioned early in the
day, but when block after block OF the shares came
out from unexpected quarters there longer any
doubt that
BEEN DISCOVERED
and that the late confident bulls free sellers
Northwest common stock consequently declined from
3s6 36S, with free offerings. Following these de-
velopments New Jersey Central fell to 99 the story
OF its immense debt of 100000 per mile bruited
abroad, and in it's wake Delaware, Lackawanna and
Western followed. At this time some OF the solid in
vesors Of the latter securities to the front as
purchasers in order to stay disastrous decline At
time stocks looked panicky but there brief CLINT
of sunlight Lake Shore rallied to 54H Yet this
soon followed by the most important decline OF the day
In the financial column. Missouri Pacific sold as low as
204, Union Pacific lost nearly all its buoyancy, and
what with the hardening OF the money rates. tho decline
in Western Union stock and the general TO the
FAILURE or UPTOWN BANK,
the market closed In most feverish condition In
regard to telegraphic movements IL may be as we'll TO
state that the renewed threats Of wealthy teegraphc
enterprise in competition all the country, which
come from San Francisco, have adversely affected
| Western Union stock AS nearly half the capital Tor
100 600 shares is held the street for speculation
there is no reasoning in times like the present against
thai ifonr nff
holders not inclined to fight on their own account
the sellers for decline have the advantage.
DUNCAN, SHERMAN co.
1t is stated that Mr.. William Butler Duncan has with
drawn his offer give his obligations with at
the rate OF 50 10 per cent ior claims upon the estate
1 of Messrs Duncan Sherman Co. The Offer thus far,
has not been responded TO by sufficient number OF
creditors to render general concurrence IN the
! rangements proposed by Mr.. Duncan at all probable.
THE GOLD PREMIUM
affected yesterday by the private cable reports that
about 81 500 900 would be shipped TO New York by
day steamers, but, although the price carried
down to 116%, It thought that the bears" were
''paying," as the amount withdrawn from the Bank
of England was understood 20 be intended for Canada
TREAT RAILROADS.
Charles Francis Adams, in his able report Railroad
Commissioner OF Massachusetts, thinks the only
to pursue toward railroad corporations is to bring TO
bear upon them the power of public opinion and sug
gests that this be done by the appointment OF Board
OF Arbitrators like the that has proved efficient
in Massachusetts, The duty of this Board he says, is
to hear complaints, and, they prove just to suggest
the officers of the corporation the proprety Of cor
rectng them II they refuse an appeal follows the
Board Of Directors and should their response prove
favorable the matter is reported to the next Legisa-
turc for such action as it may deem proper
TO take Thus far this plan, Mr.. Adams states
has worked well the Board OF Directors
have complied with the suggestions in frank and
liberal spirit He admits, however, that In Massa-
chusetts the railways owned by the community and
that popular opinion there would be prompt sustain
the Commissioners But it is limited that the popular
opinion of Massachusetts, would have effect on rail-
ways outside the limits of that State
MEMORANDA.
The old Knickerbocker Fire Insurance directors have
filled the vacancy in the presidency of the Office caused
by the decease Of Mr. George Hodgson, by the election
Of Mr. Joseph l. Townsend, and Mr.. f. W Albro has
been appointed secretary to succeed Mr.. Townsend