The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-14

AN ATTACK ON ROCK IsLANp-coAL STOCK
AND THE RUMoRs AFFECTING IT - THE

AN ATTACK ON ROCK IsLANp-coAL STOCK
FREIGHT AGREEMENT.
Nall street quite tromor OF excitement again
yesterday. but only Tor while Not many stocks
we're affected. Rock Island was the chief object
tenion in the morning. and subject of many flying
rumors. The point of all these directed toward
the batterng down OF prices, which opened for this
stock at 81.
MOVEMENT AGAINST ROCK ISLAND
Rumor would have IT that Mr.. Tracy's health
very feeble, that his affairs in bad way
sequence, and that relief como only when
lai 10 blocks OF the stock we're thrown the mar
keL At the same time that these rumors set
In motion the TRANSACTIONS in Rock Island very
brisk indeed and short who the Indicator marked
the pricc at s61s The fall sudden to direct
general attention matter, and the transactions
so large give force the that large guam
OF the stock were being put out. just in tho
.'nick OF tme the ofcinls Of the road came 10 tho
rescue. Shortly alter twelve o'clock the following
note received at the Stock Exchange:-
NEW York. April Is. 1877.
The undersigned behalf OF the Chicago. Rock Island
Ii Kennedy 90. no way affects that they
have directly Or indirectly any money e sss ss
the TO this company in any manner
N Ss AFFAIRS s"s
M and a n SOLD Ss On or n
there no intention Of 50 .cing YOU with any
anime the ccrtihc"'es cn.,ma, rc,;r c",,oe
FRANcIs II. Tows. Secretary and Treasurer.
In accordance with this request Mr.. s. 7. RUSSELL
President OF the Stock Exchange and Mr.. A. b.
Baylis, proceeded TO the Office of ine company to
make tho examination mentioned. Tho result Of that
investigation they reported in the following iorm:-
To rns Nxw York srocK ExciASGx:
he i.ne exchange,
suggestion OF the Chicago, Rock Island and Pachs Rail-
in the last annual report
Cheers sr p1oa aasa Tie shares called for in
report and that the same is in al
APRIL 10. 1877 ADM i. BAYLiS
This certificate followed soon aitcr by another,
OF which the following is a copy:-
CHICAGO Rock ISLAND AND PACIFIC RAILEoAp)
coasT "a. .xs ypns aps 81
DEAR sIRM John +. Tracy has resigned his office Of
al Directors have meeting Nonay the 10th nst
the present Vice President, Hugh Riddle. ESQ.,
Mr. David pows Of this city will probably be elected Vice
President at the same ''m' H. TSw ysuif
The stock rapidly rosc on the publication in the
Exchange OF these letters reaching 500 about rap
idly as it had declined Thereafter until tho close OF
business but little reference made 10 the affairs of
Rock Island further than that some rrepressbIe ru
mongers proicsscd TO believe that the street did
not attach much Importance 10 the fact that Mcssrs.
Russell K Baylis had found 40 900 shares oil stock at
the compauy's Offices s'Becausc, SAID these indus
trious gentlemen might have been borrowed Tor tho
occasion. y such persstcncy only shows how difficult
IL really rumors completely at rest when once
started
THE RuMORs
During all this excitement tho corporations iatcy
niured by tho circulation OF false news were busy pre-.
pairing Offering rewards for tho Offenders
AS mentioned yesterdays HERALD the entire
OF rewards offered 81, 000 There three parties
TO the ofer--tnc Stock Exchange, the Delaware and
Hudson Canal Company and the Delaware, Lackawanna
and Western Company. But the reward Is only 10 DO
pa,d on OF the District Attorneys cer-
cate Of conviction OF the offenders. The general .il-
preston is that such certificate il likely TO DO
obtained.
WHAT PRESIDENT oLlPnANT SAYS.
Mr. Oliphnnt, Vice President OF the Delaware and
Hudson Canal Company, IN speaking OF this matter
yesterday sud Nv are attacked, being strong conf
pany, that others may suffer- and those who assa us
may as well their heads against sone wall as try
10 injure by such rumors. However, the stock
went down on them, and we have been made the
subject similar attacks heretofore consider wevc
stood long enough and we do not propose 10 submit
any longer"
FREIGHT ACHIEVEMENT
The report oil scutting rates again gaining somo
fresh impetus eicled yesterday contradiction from
Mr. Garrett, who says
Ny determination carry every point agree
confident that all parties equally determined
to do so. j. W. GARRETT, President
Mr. Garrett also says that he "has ordered strict
and mediate investigation so that any rrcgularity
misunderstanding, II any exist shall be at once COR
rectcd.n