The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-08-03
WALL STREET.

THE NORTHERN PACIFIC RAILROAD -DIssoLU-
TON OF AGREEMENT BETWEEN THE KANSAS
PACIFIC AND COOPERATING RoADs-DUNcAN,
SHERMAN & co.
The numerous creditors or the Northern Pacific
Railroad Company were assembled yesterday III
this city in expectation OF the sale Of the property
and franchises or the road. The decree OF fore
closure was MADE In May last and 1t was expected
that the valuable property would pass INTO the
hands OF the bondholders Mr.. Jay Cooke how
ever, arrived here yesterday. and, IN conjunction
with various gentlemen VINO represented about
S25 100000 OF the bonds, induced postponemen o.
OF ultra proceedings until the l2tn inst.
MIR. JAY COOKE
was observed on Wall street yesterday for the
first time since the falure or his house and mis-
farmer-like appearance was in pleasing contrast
TO the arrogant and dandy-like personnel OF many
later headers" oi the street.
A SPECIAL DESPATCH
from st. Louis yesterday announced that accord
ing to adylces from Kansas city, Mr.. Robert f.
Carr, President OF the Kansas Pacific Railroad
Gently MADE between that road ana the st. LOUIS
Kansas CITY and Northern Railway nad been an
nulled. HERALD representative varied on Mr.
Scion Humphries director Ia the Kansas Pacific
Railroad &C ms Office IN Exchange place, o. learn
the significance OF the despatch quoted Mr.
HumpNie5 was non-commitsal, and SAID taat ali
arrangements OF the road were made al st. Louis
ana that he was totally unadvised as to the tee
gram quoted.
Yesterday there was a Bank OF England holiday
and consequently no London quotations were re-
ceiyed at the Exchange. The rain caused extreme
dIlness In Mall street markets, ana the brokers
seemed all deslrous 10 90 10 cover.
DUNCAN, SHERMAN & co.
Judge ohipman IS still nuslly engaged In exam
inlng into the affairs or Duncan, sherman Il 90
lie SAID to reporter yesterday that the eXamlna.
ton into the current affairs If the company
which required immediate attention would PROB
ably be completed this week. lie also eXpected
to receive letters and statements from the IOrej IN
correspondents OF tne firm by the SATURDAYS
Europe N mail, when VIII forward the work of
making his oificia statement As regarded inc
condition OF Things as he found them, Judre Sh n
man sald:-''l see no reason TO antlc pate any.
thing worse than was perfectly apparent at the
time OF the aluren
Mr.. Duncan said that he expected to receive 81
cable despatch to-day saying that all OF his cir
cuar letters of creult would be protected wltnout
further trouble or risk TO the holders. Snoud
this be done 1t would De through friends W 40 had
voluntarily come forward and advanced the
necessary money, being wiling TO take me Chance
OF getting IL returned from the estate the same
as otner creditors. 1his arrangement would nave
been consummated yesterday but that IL was
"a holiday IN London. Speaking OF the AS
soclated Press despatch from st. Louis pub-
lished yes erday relative to the recent transfer
OF some real estate In that city from W. b. Dun
can to Alexander Duncan, Mr.. Duncan said this
property IN this city. the debt Tor when this
property was collateral was incurred q wear ago
and Is small matter 1t was recently recorded
as Il matter of duty, bat as soon as the advances
upon 1t nave been PAID the property will return to
the estate.
1t was inferred from Mr.. Duncans conversation
that his iatner had made an arrangement with
the Union Bank Oh London, by which the foreign
credits OF the hrm Will be protected, and he rim
SELF Will come In with the general creditors