, 1873-06-07
NEW WESTERN RAILROADS,
Tho Farmers, Influence on Lcgislu-
two oActions-Opfnion4 OF Brokers.

1.-Two oAction..0pinions OF Rsroieors.
From Tho Ne.o York lEorid, .Tune4.
~. Fears having boon b Expressed In some Of Tho
favorably on tho securities Of now railroads out
Weet on account Of hostile legislation and pop-
lmr outory against tho railroad aystom, some i'll
quiries On the subject wcro made in Wall street
yesterday. The report having boom circulated,
coming from Illinois in view OF tito legislative
action Of that State and that Messra. Bloodgood
d Co. decline to negotiate tho bonds Of the
Springfield y Illinois Southeastern Railroad, that
firm was visitod.
A mombor of tho house, Mr. .Slayback, said !:
"Thoro ia nothing in TINT. It probably origi-
natod from nm expression In a prlvatolottor from
AIr. Dloodgood'a brother. which was copied in 4
Western paper. Ho said III that 1ottor TINT ho
anticipated reluctance on the part Of capitalists
to handle Western railroad bonds for tho above
ren1on."
1T is not true, thon, that you have refused to
negotiate those bonds?"
No. 1Yc have not beon asked to. Jones &
Schuyler havo had them III hand mud have ad-
vcrtisod them for months"
!" You have no foar Of legislation adverse to
railroads III the Wost2"
!" We have not"
Alr. Jones', Of Jones l. Schuyler, was noxt
sought, with the following result:
"1t il snid, AIr. Jones, that you arc we'll nc
qunintod with tho condition Of Westorn railroads
and tho standing Of their bonds in this market.
10 HnPGClAu3 ASHlIGA GUAEpEulDR thu
indiaposition Of tic bankers Of this city to nogo-
tiato tho Springfield 4; Illinois solitloastern
Railroad bonds. Bloodgood & Co. Hay TINT they
havo nothing to do with selling them, aud that
you have them in Charge"
"Wo advertised md sold thom, to bo suro,
awhile ago, but, h1r: ploolgood is the principal
owner of these bonds"
bio p
"Thoy suffer In common with all other sucll
NnTnnnnG1ifiAH nrH7unt nf f11n dill
OF the times. For this and aomo other reaBone
We have not put thom OH tho market latoly."
"What were the other reaBonB?"
swell, number Of these bonds arc owned By
trading thom OF for roal estate mud anything
they Gun get ut low rates..
"Tlero is another point, hrr. Jones. It is
stated TINT there exists diBtrust Of now Wost-
tho municipalities along thoao lines have ropu-
dated thoir subscriptions, to punish roads for
discrimination and oxtortion. It is added that
this hns boon dono In several casoB, and that tho
"Notlllng can bo further from tho truth as far
aB Illinois Ia concerned. Hor municipalities aro
particularly ro1ablo in this respect. Thoy hayo
20 longer any right to issue their own bonds !;
but their manner OF naooting their obligations
IN this connection has made their bonds scarce
In themarkat aud In great demand. They hayo
boon equally square In backing up thotr railroad
atook subscriptions"
IaVo not tho municipalities OF tny OF tho
Western States boon inclined to reputation p
'Nono that know of, except 1t DO in Mis-
Bouri, and thcn 1t was not their fault. Tho rail-
roads made all sorts Of oxtrayagant promises
about building roads, which they did not fulfill,
and tho municipalities naturally Withdrew their
"Do you anticipate that Western legislation
with regard to rai1roadg will bo very stringent
this yonr Z"
~ SEQ no roason to o1pocs that"
"Do you not think that tho excitement
among tho farmers, a8 represented In the
'Granges Of IIusbandry,' 'Farmora' Assoeia-
tione, TO-, will culminate in tllor putting can-
didatas Of their own in ofice, who will pass laws
adverse to railroada?"
~ do not"
It wna very noticeable that tho ha1t-tlozon
hankers aoon, although Interested III Western
railroads, aoomed to 10 quito Indifferent to tho
farmer inoyemont
When hfr. Jones waa nsked how far the dull
nesa of the market for now railroad bontlB WIS
duo to tho Credit Mobilior scandal, and the fear
Of aimilar operations III other roadn, he waa
quito amuaea ut this effort to account for the
faots In the case, and did not admit that tho
causatlon lay In thRt direction.
Several othor firms Interested in Buch bonds
were visited. Tho idoa TINT nothing Of import
ance waa to DO expected from tho far1nor nloyo-
mont WAS univoraal among them, and they Eaw
nothing moro Horloua impending than . dull
market.