, 1873-11-08
Gen. Sherman Expresses His Views
on Finance.
Growing Opposition to Secretary Rich.
ardson and Comptroller Knox. ::
Tho New York Stock Market I'm
settled.
THE RAILROADS.
Special Dtspatch to Tho Chicago Tribune.

tEE HAttH0AO1s a..
. Special Dtspatch to 1he Chicago Tribune. ..
THE NEW JERSEY SOUTHERN RAILROAD.
New YonK, Nov. 7.--Tho Directors Of tho New
jersey Southern Railroad are still engaged in
Strengthening out it's complicated AFFAIR.", pro-
paratory to thorough reorganization under tho
name Of tho New York, Philadelphia l. Baltimore
Railroad. s. II. Mills, one Of tho Directors, said
to day that the arrangements for reorganization
were all perfected. It ia proposed to issue
s7,000,0o0 Of consolidated mortgage bonds of
tho Now York, Philadelphia Il Baltimore Railroad,
and %, 900. 600 worth Of stock. Tho bonds would
be & lieu of. 800 miles Of tho completed road, and
would bring tho coat por milo down to about
900. The holders Of theao bonds and tho
creditors on tho floating debt will be asked to
exchange their preeont interest bonds for those
have an equivalent in new stool, (which would be
distributed for old shares. The Baltimore l.
Ohio Railroad has promised to sond their coal
ovor tho tracks OF the new corporation. =.
WAGES OF UNION PACIFIC WoREMEN REDUCED.
OMAHA, Neb., Nov. IA general order has
been Issued reducing tho wages Of Union Pacific
employees 10 per cont.
THE rENNsy1vAN1A CENTRAL DIVIDEND.
Special Disrateh to The Chicago Tribune.
Pn1IApElrun, Pa. Nov. 7.-At the meeting
Of the Board OF Directors Of tho Pennsylvania
Railroad this afternoon It was determined to
declare scrip dividend Of per cent, payable In
tho option to redoem It in cash after tho IapRc Of
Blx months. Tho acrip will be received 1T par
IN payment OF unpaid allotmonta: About
$17,oo0,00o Of stock was created At tho
already beon paid In. The Board unanimously
refused to accept Col Tom scott'a resignation.
The latter, replying to IN interviewer to-day,
said: The sole cauBo OF my rendering my res-
ignatIon as Vico- President OF tho Company, WAS
the fact Of this proeont financial emba1rasament,
my name being on the paper Of tho Texua d Pa
ciflc Railroad. Tho personal feeling existing bo-
tween the Board Of Direction and mYself has al-
ways been and ia now tile best. but submitted
tho resignation as matter OF duty to the Com
pany."
New YonK, Nov. 7.-Financial writers in tho
evening papers say that gonoral feeling Of dis
satisfaction prevails in regard to the action Of
the PennBylvania Central Rat1road in declaring
scrip dividends Of 8 per cent, when a cash dLvt-
dend OF per cent was expected, and fully war
ranted by the buBinaaa Of the Company.
MAINE CENTRAL RAILROAD.
n9s7o Ny ire to .5esrs 5eaneSn a ct
Maine Central bridge at Amateryt1le have quit
Tho Maine Central Railroad has just disoharg-
Special Dispatch TO The Chicago tribune.
THE BALTIMORE a ONO RAILROAD.
WASHINGTON, D. G., Nov. 7.-While the Penn
sylyania Railroad haa repeated the dodge Of q
scrip dividend, ita rival, tho Baltimore 6 Ohio
8 psr cent IN cash. Tie latter Company ac-
knowledgoa q 1arge falling of in freights, but 1t
is probably the only railroad corporation In the
country which is going on with Its extensions,
the Valley Of Virginia to Salem, aud puttipg
down triple track on the main atem.
TIE TENNESSEE RAILROAD TROUBLES:
KNoxv1IInt Tenn, Nov. 7.-The railroad lock
out freight train from the o,ty this morning
failed, owing to the engineer being prevented BY
force from taking the engine out OF the round
house: The Company has suoa 100 strikers In
the Circuit Court for s5oo, 1000 damages,
evening, The Company has alao aued another
100 atrikers In tic Chanoery Court, aud OBJ
tainod An injunction restraining thom from OBJ
struot1ng tho business Of the Company. An at-
traina to Bristol and .Ohattanooga tomorrow
morning.. The Directors today adopted pre-
ambla aud resolutions. concluding aa follows,
Rssolptd That No hereby advise and sugges. that no
pnn %sa % IN M aes o. inc
t4on or combination which lnstgatcs aud encourages
euoh acts q disorder, violence and wrong, and seuks
" s ppsposea ny papabla anu outrageous
xnosp',.> r<n <se.. g, T. ess1e!petase. @s'. u IL. cn
On last Friday the officials Of the railroad is-
a, saaed. through the City papers. proclamation
that on aud after the lot Of November tho wages
be reduced 20 per cont, while these recelving 81
tim Of. 10 per cont, giving as q roa-
son that owing to the general
strlngency In money natters the railroad WAS
greatly embarrassed, aud that through tho month
Of October the earnings foil nhorf $4,000 Of
what they wore last year In thnt month. Capt
Joseph Jamea, tue Superintendent, stated that
before issuing Ills circular he had consulted with
al tue officers OF the road, and that they fully
concurrod in his action aud wero willing to aub-
tn't to the reduction of their rala1ieB, signing
paper to that effect, which was also published In
the same paperH.
WHAT THE ENo1NEEns DID.
hAttara pasted Off quietly during the dag, and
no one suspected that lhe least objection would
be raisea by tho omployoa, until that evening
about O'Clock, whom It was time for tho freight
to depart, aud tho engineer Informed tho man.