The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-11-02
FINANCIAL AND CONNER CIAL.

MONDAY, Nov. 1-eP. NJ.
Another interesting ctsssnter In the history Of the
vanderbilt railway share.
col5ammati0n OF The was closed to-day by tue
.oltdat,u.. We iong talked OF scheme OF con-
ec.,rnlap say chap'ef ior .he reason 'na1 ~, .ne
20 activity OF New York Central and iiua-
y !. River stocks has been by NO means terminated
by this event. The chief operators IN New YORK
Central have not been 40 devoid Of wisdom az TO
Kill the goose whch has laid SO many golden eggs
for them. The lie OF the auriierous bird mas been
prolonged TO an Indefinite extent rs Will be shown
IN The nture history OF the STOCK. The plan Of con.
solidatlon was made known only at the moment tue
vote OF the stockholdera TO be taken. II differed
so widely from what the sanguine speculators
OF Wall street fancied that upon the terms being
made known there was decline in the price OF Ceu-
TRIAL from le3 TO 1873, aud ia hudson River IRON l7-&
TO 1904. The details or the election as held to-day
VIII be given fun elsewhere in our columns. Tho
| consolidation amounts simply to merging OF the
present capital STOCKS OF both roads, wtl the add-
ton OF scrip diyiaend 10 that already issued on
New York Central making the total scrip equal 10
the tolal stock New York Central has been put in
2og--leo stock and lo7 scrip-and Hudson River at
5000 STOCK ana IS scrip The total capital OF the
conaol idated road win thus amount TO $4,000 600
| ano the total scrip to $i5,oo0.ooo. The name
| of tue new line viii be the New York
/ Central and Hudson River Railroad. The officers OF
| the consolidated company are g. vanderbilt, PfeS.-
! dent; william vanderbilt, Wee President; IL. d.
Worcester, Treasurer, aud Augustus scheil Secrc-
tars 1t viii DO remembered that ~ special act OF
the last Legislature the eighty per cent scrip OF the
Central road was authorized 70 DO converted into
stock. Inis privilege seems 80 have been ignored
to-day, that TaeR the STOCK or the ncw company
II lEsged each share TllI carry on equal amount Of
bnt ha,n a tn yp 10
dividends il IS virtual doubling OF The stock.
An immediate conversion OF the eighty per eeat
scrip would, OF congse, have gone Isr 60 diminish
the activity or New YORK Central. Ly Tie present
plan, however, request for the conversion OF
the whole scrip INTO stock can be brought before tho
Legislature next winter ana The price OF stock cent
nying up a1d down the scale according rs 1t ST. -
the speculative plans 0! the chief operators. The
goose nal not therefore been killed., but bids fair 10
I've many long day yet and lay Innumerable golden
eggs iQr her careful owners. The announcement OF
tile terms - above given greatly Disappointed tho
street. The price Of Central at The opening was an
Improvement upon taat OF Saturday, but declined
under reports that the meeting Dad been or
would hc inteilSred win by an Injunction. When
these reports we're dsproved By the intalll-
gence that The polls had been opened and the
voting WAS in progress there was rally to
Tie vicinity OF the opening prices. Although the
polls ola NOT close at the Initeh street depot until
ious O'Clock, tae result known the street soon
after Two O'Clock, Tor the that majority OF
the stock had been cast before that hour for the pan
shove given. For time there was q semtpanlc in
the two stocks and IN the general disgust CT the bun
Operators large amount or stock was thrown over
board. ia the rest Of the railways there had been
throughout the day very heavy and weak market.
Harlem which was totally disregarGed by Tie cot.
soliaatopssts, declined 70 i3G. Tue western rail
WAYS, under bearish ceiling founded on reports
OF heavy decrease IN earnings, dAo went
by the board, NorihN eslern dropping from
6oS 10 55lS; st. paul from 67ss 80 o5S; Lake Shore
irom ga 10 $685., and Rock Island from l0sia 10
1921 AT this stage tho market underwent reac-
ton and closed 10 2 slight improvement upon Tie
lowest quotations or The dsy., The money market
easy at 1--WE 20 SIX per cent early in the day, bat
towards The cose or banslng hours the shifting OF
loa1s on The declined stocks produced more ACTIVITY
and me rate vas SIX TO seven on government ana
stock coilatcr2s respectively. The range OF the
trtI4 1afc "a. at.4 y.,. a. INA aIAt