The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-13
WALL STREET NOTES.

SENSATION IN WESTERN UNIoN-soME cUA1U
LATrvE PACIFIC MAIL TEMs-ATLANTIo AMI
PACUIO-ToLEDo AND WABASH
The sensational point on the street yesterday
was the resignation Of General Thomas J. Eckert
as General superintendent OF the Western Union
Telegraph Company. We quote his title as il II
expressed on the blanks OF the COMPANY
although Mr.. orion, In Q conversation with
the writer, described him as zone OF oul
three superin tendents.n 1t was stated on
the street that Mr.. Eckert's retirement 1--WE
believe 1t Is proper, after the recent "pro-
test" to drop the term general" where that
onicer fs in civil employmenr was prompted
by an invitation OF the Atlantic and Pacific Tele-
graph Company for him to become their Presi-
dent. The latter company, by their reticence
upon inquiry IN this respect seemed inclined. SO
far as their representatives could be reached, to
repudate the report of Mr.. Eckert's accession to
their management In other words, they knew
nothing at all about it, so they said. Renectively
the street did not take
Mr.. ECKEar's RESIGNATION
as seriously Affecting the value Of Western Union
stock, which went up on this announcement from
75H to TEX. largely upon q supplementary report
that Mr.. Eckert would be promptly succeeded by
Marshall Lef1erts, now President OF the Gold and
Stock Telegraph Company. The advent of the
latter gentleman, whose management OF q
company 30 familiar to the street and the business
community, not only Of this city, but outside,
among which class It's only patronage lies, the
western Union would carry with it a prestige
greater than the withdrawal OF Mr.. Eckert, or
even his connection with an opposition company.
The stock went up yesterday in view OF Mr..
Eckert's retirement placed adversely to the pros.
pect Of Mr.. Lenerts' forthcoming incumbency.
Having sold at 75H, 1t closed at 76X II Mr..
Eckert would take
THE MEASURE
OF his individual capacity-that is, the popular
opinion OF 1t when put in the crucible Of the
Stock Exchange. he will find 1t not nattering.
II the Atlantic and Pacific people (Which
stock declined yesterday will put the
vaiue OF snence on q matter Of this kind
in the same crucible they viii IND that rumors,
which they are not in position 10 contradict, are
damaging. II both companies VIII bear In mind
affairs, even to the point OF bankruptcy, they may
reject that the inquiries OF press representatives,
and seeking an explanation OF them, only reflect
the anxiety OF stockholders TO be informed as to
representatives, they win have reached large
advancement into popular confidence. Mr.. orion
stated, in an interview with the writer yesterday.
that MIR. Eckert, 1t was understood, had, before
rendering his resignation to the western Union
Telegraph Company, made arrangements with an
position to state" to enter their service. The
street understood this to mean the Atlantic and
Pacific; but, has already been stated, tine lead
ing officials OF that COMPANY having gone uptown
early, the subordinate of1cers were unable to
cheek this statement
WHAT Mr. ECKERr HAS TO SAY.
Mr.. Eckert was called upon by HERALD re-
porter in regard to his rumOred resignation and
future movements but declined to say anything at
present further than that the report was prema-
ture and he did not deem 1t discreet just now to
make mis- movements In the premises pubic.
ANOTHER MEETING OF PACIFIC NAIL
was held yesterday, at which the resignation OF
Messrs. Alexandra, GuiOn and Tacott were with
drawn. 1t will be recOllected that the OFFER OF
these designations was matter which the officials
OF the company did not communicate the previous
night when they were handed in. The recon.
sideratiOn which prompted the withdrawal Of
these designations Pacific Mail could net AFFORD
to have representative steamship men like Guon
and Alexandra retire just now Is said to have
been in consequence OF Mr.. Sage's return TO the
Pacific Mail direction, and, In iact to have, in
q measure, prompted his reinstatement.
TOLEDO AND WABASH
meeting Was held yesterday OF some people
connected win this company-the average intelli-
gence Of It's representatives, 1t will be recOleced,
is not capable OF defining the exact character OF
such meetlngs-but nothing was done which Is
calculated to influence the value OF this stock favor
ably (tnat fs so far as was learned) or OF special
interest to stockholders.