The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-31
WALL STREET..
The Financial Operators Recovering from
the Effect of the Recent Failures.
TEL rcRAPHlc CONSOLIDATION.
Probable Absorption OF the Atlantic and Pacific
by The Western Union Company.


ures so little do they appear TO have affected any
one engaged In financial operations. There was.
however some surprise manifested that no ap-
proximate estimate could be heard oi In
regard TO the assets and Liabilities OF
Duncan, sherman h Co. the attention given
TO the subject was OF peculiarly transient
nature, Tor people appeared more inclined to pay
attention 20 and watch current events tnan TO
waste their time on matters that now con-
sidered as recorded among the annals Of the past
The stock market throughout the day clearly
showed that the apprehensions Of . few days
since had been Gained down and that a more
hopeful tone prevailed for, with the exception OF
Western Unions, there was general improve
ment in all the leading securities. In this stock,
however, Ine falling on at the close
o. the Exchange only :, and TINS
in a measure was attributable TO some shares oil
this stock being sold under the rule on ac-
connt or Z. q. HELEN, member oil the Board,
whose suspension announced just previous
to the usual daily settling hour. Tue amount for
which Mr.. HELEN Is involved is considered TO be
exceedingly small and his failure is attributed to
bear TRANSACTIONS in western Union in
lace OF rising market. The announce
menr OF the failure caused surprise and
scarcely a nutter. Gold, which opened at 1925,
closed at the same figure, after some slight nuc-
tuatlon during business hours. No further COM
market EXHIBITS signs OF strengthening.
THE NEW TELEGRAPH SCHEME.
There were any quantity OF conjectures given
vent TO yesterday 'tne street'' as TO the sup
posed consolidation OF the western Union and At
antic and Pacific Telegraph companies, but
nothing definite was known. IL appeared now
over, TO DC rne general opinion that there some
sort OF "a deal" gong on looking TO
such q contamination, but that 1t had
not yet been completed IL was thought
that there had been lately several
conferences held between Jay Gould and Presi-
dent Orton, during which basis OF amalGama-
ton had been arranged but that II had not been
fully confirmed yet, and that in the meantime
every EFFORT had been, was being and would be
made, To Keep the matter from the general knowl-
Edge. The majority OF the operators on Tue mar
ket yesterday evidently operating on the
basis the supposed arrangement ana are
quietly going long VI Western Union stock.
Vice President Green, vi the western Union
Company, SAID yesterday morning that no conso-
idauon between tnat company ana the Atlantic
anu Pacific had been made. although PROPOSE
lion OF the KIND may have been made TO the West
ern Union Company by parties WAC cit competent
10 carry 1t through. In mis- opiuion the Atlantic
and Pacific Company had been lighting he West
srn Union desperatel,, not for the purpose OF bene-
ating ITSELF uut solely IN tue nope OF ing bought
up BY The Western Union. he latter company
has three forces in opposltion-tne Atlantic and
Faclnc, the Franklin and the southern Atlantlc.
Tue FranKnu does business only between Bos-
son ana Washington, aud Is formidable be-
cause 1t does It's WORK well. Inc messages
II carres are TWENTY-FIVE cent messages, ana
leave little pront, for by careful estimate the
Western Union Company has Ound that ~ costs
very nearly rwenty-ty. cents TO receive tiansmlt
AID deliver a Hessage IL would be useless
buy up the Franklin Company, because tue bus-i
ness between the great cities TO which II SENDS IS
great that another company would surely be
started Tue southern Atlantic Company Is
bona Hde competitor, but II does not interfere
with the Western Union 10 u very great extent.
IL rents their lines TO the north. and Is la that
way source OF prod. But the Atlantic anu
Pacific Company SaeeIs the Western Union
every turn. In the matter OF rents the saving
by consolidation would be immense. In tue
pete Tor once, and are forced 10 pay aDsurdy
nigh rents. II rnere was but one COM
company All ONCE rent free. In 1856, In
De,avan House IN Albany, when the United staes
Telegraph Company existed. the Western Union
had 10 pay $1,000 rent Tor Al ONCE but wnen they
bought the United states Company III and threat
eued to aoandon their ONCE IN the hotel they not
only got the room lor nothing, but the motel
boarded their operator. SO IN TINS city an enor-
an Office, while, II there was but one company.
The hotel would not co without the ONCE. II theY
got nothing Tor IT, BY cons lldatlon valuable
operated at less cost than BY them. and other
lines, ike those between the cities OF New YORK
aud Albany aud Albany aud Buffalo, where the
poles ON tue highways, wouid be abandoned.
But the great saving would be in rents.
Mr.. Green wished TO deny that President 0rt0n
was IN league with Jay Gould. ''flls Is not sou
said the Vice President He may listen 10 a
business proposition from Mr.. Gould. ana may ac-
cep; his erms but only as he would from any
other business man"
DUNCAN SHERMAN 4 co.
There were new developments yesterday in
regard to the failure o Duncan, She man * 20.
Tne banking house presented an unusually quiet
appearance. Judge Sblpnan busy all
IN his endeavors to make out an exhibit, but
stated that ne Ola not expect to have II ready for
publication for several days yet, large and
multIiarous were the accounts 10 be examined.
IL Is stated that IN the scheoule OF assets 10 DC
submitted oy Judge Snlpman 10 the Court within
thirty day Will appear the IoAowlng:-
Ths lin street property, No a. valued at.. $4,000
FIN avenue proper near Eighth s1sei 800
Total.... s3g7, wv
The title Of this property was held by William
b. Duncan on the GATE the assignment. and IL
Is believed THIS Will be given over iVr the beneft
OF the creditors.
The directors OF the Mobile aud Ohio Railroad
say that when Mr.. Duncan COON the Presidency OF
tne road the uEos winch were use1 Tor It's relief
we're PROBABLY furnished by Mr.. Alexander Dun
can, and taat Mr. duncan, IN all probability, las
atge amount OF the bonds OF the company IN MS
THE THEATRICAL PROFESSION AS LOSERS
The theatrical profession, lt would seem from
Information tnat Is dany coming TO mana, wll for
time, De sufferers oy the failure, for majority
OF foreign artists anu most managers and actors
who are IN the naDlt OF visiting Europe yearly
transacted their anairs through that trm. There
IL no truth In tue report tnat Mr.. Maurice Grau Is
Lut II Is asserted that Mr.. William Wheatey'S
fortune Is seriously affected; That Mr.. Theodore
Moss had 500 000 deposit with the firm;
that hessrs. Henderson & UolvIlle had $4,000
with them, and that John BrouQham had quite his
entire fortune III the house. IN the case OF Mr.
Brougham, however, ~ Is asserted mat Messrs.
Duncan, SHERMAN Co. SIMPLY held bonds for
hun ON SPECIAL deyoslt, (Which are recoverable.
Mr.. ID. j. Montague had mis- entire earnings since
ms arrival here last autumn IN their possession,
this baving been, 1t Is believed, his fortune. Mr.
J. L. Iooe bought tue nrm's paper, before sailing,
10 the extent Of $4,000, and Mr. ". j. Florence
and MT. JOhu T. Raymond are among those VINO
held letters OF credit them. 'Colonel Sell.
ers" has returnsd from Europe, and, IL may be
presumed, Is not heavy loser.
TIE COMMERCIAL WAREHOUSE COMPANY.
MT. John Baird, the receiver appointed to take
charge OF tue analrs OF toe Commercial Warehouse
Company, yesterday assumed possession and the
direction OF business. Mr.. BaIrd says thar ne Is
taking steps toward the preparation OF state
ment Tor the dement, OF the creditors, but that IL
Will not De ready Tor some time, owing the slow
progress which ne Will DC able 20 make among a
Tast number OF letters III spanish pertaining 70
Ihe business OF the house, requiring tne assistance
n an interpreter.
AT THE COTTON EXCHANGE.
The cotton market yesterday was more buoyant.