The New York herald., 1879-11-30
WALL STREET SOBER.

WANING EFrEors OF THE GREAT CENTRAL
SALE "A PORTION OF TIE STOCK SHIPPED TO
LONDOS--A FLOOD OF EUMoRs CONCERNING
ERIE
Wall street had toned down materially yesterday
from the day before. New York Central was very
strong; but most or the stocks which went up Fri
day, presumably the strength of the Vanderbilt
SALE either fell of bit yesterday else barely held
their own. Nevertheless the air thick with
rumors of every kind. combinations in this or that
stock being the favorite form of invention.
There little new to tell about tae
facts of the Central sale. but the motives
which prompted Mr.. Vanderbilt to the bargain were
construed over and again. Many attributed
the upward movement in Erie to him, and 1t was
said he was anxious 10 unload. This theory had for
Its basis the supposed purchase of large amounts OF
Erie by the owner of Central, when he was trying
to prevent the Western combination from reaching
the seaboard over that line. The next step in
the theory was that Mr. Vanderbilt having
compelled the opposition to treat with him
in turn compelled by Messrs Gould.
Sage and others to sell the Central stock posi-
tive guarantee for the permanency of the contract
between them. The third step that all having
been accomplished. the combination made it be-
necessary for Mr.. Vanderbilt to dispose of his
Erie stock. he having further object in its reten-
tion 1t claimed that all the stories in circuia-
ton about a combination in Erie were the accom-
paniment of effort to unload Whether all or
any portion of the above theory was true could not
be known to anybody outside of Mr. Vanderoilts
confidence. Certain it is that Erie went up Friday
and went OFF yesterday in style that astonished
even the Oldest residents OF Wall street.
DOES ANYBODY OWN ERIE?
Contrary to all that has preceded comes state
ment which is said to have originated with Mr.
Jewett to the effect that Mr.. Vanderbilt does not
and never has owned any Erie stock. This state
ment is said mean more than that his name has
not appeared the books of the company-to mean
that he controlled any of the stock. Very
few people Change could be induced to believe
this new and astonishing aspect or the case, but
then Wall street people just now can hardly be in
duced to believe ything.
An officer of the company said to the reporter that
there was no truth in the story of Erie combna-
ton either to let Mr.. Vanderbilt in out of the
stock He said that the fact Erie had been pur-
chased by people at large. who seemed to think that
large operation in it was pending. Said he:-"You
must not use my name for am an officer of the Erie
company; but can't any whatever in the
excitement now existing over the stock. Millions Of
money must be expended for stations. curves and
other improvements before Erie will be on q fair
Docs Mr.. Vanderbilt own any of the stockY" asked
the reporter.
"He does not"
'Did he own any of it previous the late election
THAT cannet answer"
"Rumor has it that Mr. Keene. was buying 1t
ueaVlly yesteruays Salu tue reporter.
'rhat is another mistake. Mr. Keene does not
own a dollars worth OF Erie
HE is director?
"Well. he may have enough stock in his name for
that, but he don't own any; that is certan.''
BE ALLOWED ANOTHER REPRESENTATIVE.
1t was stated officially yesterday that the synd.
cate which purchased the Central stock will be al
lowed one more representative in the Board OF D-
rectors of the New York Central and Hudson River
Railroad Company. and that Mr.. Solon Humphreys
will be elected to that position some future date
Rumor said that Mr. James H. Banker would be the
director to retire. 1t also announced by OF
the most prominent members of the syndicate that
single member of that body sell the part OF
the stock to which he is entitled and that they will
not be able to obtain possession of the before
the of 1880, until which time the management is
conhded exclusively to joint committee in London
and New York named by the parties IN interest.
The syndicate have anticipated the second install
ment of New York Central stock by II. .000 shares
making the amount taken during the past two days
Il. 900 shares. Each member of the syndicate has
paid for his proportion of the stock in cash. and
has received receipt for the money from Drexel,
Morgan II Co. One-haf OF the stock already turned
day. and of the whole amount 5000 shares were
taken by the German interest.
MARKET YESTERDAY.
The market opened heavy and the recorded trans
actions during the day amounted to AGA, 237 shares
which Erie headed the list with 1855 shares OF
common and Z 100 shares of preferred stock. The
business in New York Central aggregated 1905 in
$500 common and 11.575 preferred. and in Toledo
and Wabash $500 shares. At the opening prices de-
clined from one-half to six and half per cent
compared with the closing quotations Of Friday.
Subsequently there q reaction and rally, rang
ing from one-haf to five and half per cent.