New-York tribune., 1879-11-22

ieSuictlon imposed upon Mr.. vanderbilt ~
the only serious hindrance to the SALE 1t has been,
however. matter of considerable discussion TO fix
the number of places IN the directory of the Cen
trail Road that shall be given to the buyers.
Some Of the members of the Wabash party have
been very solicitors 10 secure large representa-
tion in the Board as Mr.. Vanderbilt could be in
duced TO admit.
Ii is no part of the arrangement that Mr.. Wander
hilt should have similar representation in the
Wabash or the Union Pacific Companies. IL is I'M
derstood that lie now holds considerable
amount of the stock of both roads. but
this is not affected in any way by the
transfer of Central stock. 1t is SAID TO
be in no sense an exchange of interests. The
price of the stock, if the sale shall be con-
cluded, is to be paid in cash or IN securities
that may be accepted as equivalent To cash. The
for the sale is believed TO be the desire for
harmony between two railroad systems which have
been thought to be antagonistic struggle between
them would be, il is admitted, awar between giants,
which wonld result III serious harm to both. The
connections of the Wabash system give it largely
the control Of the traffic of the Southwest and of the
Pacific Railroads. The position of its eastern termni
lies il 10 reach the Atlantic seabOard by any
of the trunk lines. An alliance between the Cen
trail and Wabash Roads would give to both large
advantages. The traffic arrangement be-
tween the Wabash and the Lake Shore Companies
for an exchange of business has been settled, but
not yet executed. The Great Western of Canada is
admitted. il is UNDERSTOOD to share in the advan-
tages of the agreement.
STATEMENT OF A FRIEND or MR. Vanderbilt.
capitalist. holding close relations with Mr.. Van
derblt, admitted last night that he had been con-
cerned in the negotiations. He said
There has been no transfer of New-York Cen
trail stock by Mr. Vanderbilt. Tho talk concerning
the matter arose IN this way: The managers of the
Wabash, Union Pacific and other Western roads
desired to have better traffic facilities TO the East.
In order to carry ont their plans they discussed
the scheme of building road from Detroit TO
Toledo parallel with the Lake Shore Road, which
Mr.. Vanderbilt controls Satisfactory arrange
ments were subsequently made with Mr.. Wander
bilt to carry the freight over the Lake Shore Road
andthencc east by the way of the NewYork Central.
This was chiefly desired account of the terminal
facilities which the New-York Central had in New
York. New contracts with the New-YOrk Central
aOrding better facilities TO the Western roads will
be signed perhaps tonight, bnt surely tomorrow.
by these contracts 5000 new cars will be placed
on Mr.. Vanderbilts roads.
You can see, then, that the manage of the
Western roads by this means will become very
closely allied TO the New-York Central and natu-
rally desired certain representation in it. While
derbilt for completing the contracts. arguments
We're also advanced to him, showing why be should
dispose of some shares to these managers OF
Western roads. The matter discussed, but
no settlement was arrived at. and in
fact Mr.. Vanderbilt never entertained any of the
propositions. OF course he made inquiries about
how many shares the managers wanted, and what
their price was but not for the purpose of selling.
He does not care to sell any stock Various figures
and prices were mentioned At one time the
amount proposed was 100000 shares, and at an
other time it less. 1t once rose to 100000
shares. So far rs l know, thereport is not true
that negotiations were broken off because Mr.
Vanderbilt was required by agreement not to
sell any more New-York Central stock within a
specified time TO sum the whole matter up, the
managers of the Western roads wanted New-York
Central stock and Mr. Vanderbilt was not disposed
to SELL"
very large holder of New-York Central stock
said that propositions had been made TO Mr.. VAN
derbilt by managers Of the Western roads TO sell
New-York Central stock but the proposals were
never entertained He said that Mr.. Vanderbilt had
no intention of disposng Of any OF his interest III
the road.
director of the Central admitted that Mr.. Van
derbilt had expressed TO him personally weeks ago.
his desire TO part with a very heavy block
OF the Central stock, mainly for the purpose
of having it more widely distributed and
securing strong support. He then said he would
sell thirty millions if he could This gentle
man, however, did not believe that Mr.. Wander
bit had made any such proposition TO the
Wabash authorities. lIo admitted that there had
been negotiation, that the price or mode
of payment did not interfere, that the negotiation
was thought for time to be successful, that 1t was
now OFF, but that il would probably be renewed.