The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1869-10-22
Lake Shore Road and the VAN
derbiIt Party.
The World Of Oct. 18th says.

Inc HOFGu OF Oct. lOtl says.
The rumors in reference TO the Michigan
Southern are multiplied daily. The
company will lose by the failure of Messrs.
Lockwood q Co. about 81 100000, but from
this sum viii be deducted whatever Lock-
wcad & Co, may pay. The directors, who are
honorable business men, have promptly
assumed the issue of ten thousand shares
from Nos. 30I and 40I inclusive, and thew
have already stamped as q good delivery all
that have been presented, amounting t, five
thousand two hundred.
Mr.. d. P Barhyedt, transfer agent o. the
Lake Shore Company, has sent the follow
ing notice to the New York Stock Exchange:
l am authorized by the committee referred
to in my advertisement of the 9Th inst, to
saw that Of the certificates named IN s.;5 a6
vertisement ffty-tWo have been presented
and certified as genuine, and the committee
would be glad to have the BALANCE presented
for their action.
In this course the Lake shore officials have
done the reverse of the New York & New
Haven Railroad Directors under similar
circumstances in the Schuyler affair. By
this prompt assuming of these issues of stock,
they have restored confidence not only to
the holders of Lake Shore, but also to holders
of other stocks
Those known as the Vanderbilt party haFs
been largely short of Lake shore stock from
lO6 down 10 so. They were large buy ers
of this stock yesterday and 20 day, and it is
said that they not only covered their shorts,
but bought long. on the poiut that the Lake
| Shore board of directors is to be reorganized
and the control placed in the hands of Com
modore Vanderbilt.
A rumOr is circulating that a proposition
was made at recent meeting of the Lake
Shore directors that they open the books and
order new election for directors to enable
the stockholders to decide in regard to the
control of the road.
The advance and activity in Lake Shore
stock to-day arose from the action CT parties
who are buying under the conviction that
there is solue truth in these reports that
Commodore Vanderbilt will have the control
ofthe road placed in his hands.
If this should prove to be so, then it is
likely that the New York Central, Hudson
River and Lake Shore will he temporarily
advanced to higher figures, as the Com
modore will then have a continuous line
from y ew York to Chicago under his own
control.
The Buffalo Advertiser says on this sub
ect:
The rumor is again. revived that Com
modore Vanderbilt will soon have the con-
troll of the Lake Shore & Michigan Southern
Railway; and it is predicted that, if this
should prove true, the New York Central
Hudson and Lake shore stocks will be
advanced to higher figures, as the Com
modore will then have continuous line
from New York to Chicago under his own
control
Another rumOr, in support of the above,
has prevailed, viz; that proposition was
made at a recent meeting OF the Lake Shore
I Directors that the entire board resign, auG
that they open the books and order a new
election for directors to enable the stOckhOl-
ders to decide in regard to the control OF the
road. We know not whether the facts do OF
do not Justify these rumOrs; but,from certain
information, we have reason to believe that
the projected consolidion of the Toledo
Wabash with the Lake Shore hangs fire and
may not go off after all; and this indicates
some foundation for the supposition that
Vanderbilt is likely soon to obtain eOntrOl
of the latter company. A few days will tel
A special of the I4ih says;
The Lake Shore Directors continued in
session to-day with closed doors. Augustus
Schell who is strong personal friend and
cOnfdant of Vanderbilt, was made Director
in place of Wetmore, and the belief is strong
that the road will go under Vanderbilt's CON
troll. 1t was rumoFed that Mr. Banker has
been chosen Treasurer, and will assume the
duties Of the Office Immediately.