The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-11-22
A BIG TRANSACTION.
RumOrsd Sale Of New York Central Stock
10 The Wabash CumhlnatlOR.

NEw YoRE, November 2O.-It Is belley.
ed that the negotiations, which have been
In progress Tor several days, for purchase
from VIM. II, Vanderbilt Of 4 large block
Of New York Central stock are nearly con.
sumaIed. The purchasers are a party Of
capitalists including, Il IL said, Cyrus W.
Field, Jay Gould, Russell Sage and friends
Of the Wabash and Union Pacific systems
Of railroads. It Is asserted, moreover, by
persons who claim to be familiar with the
transaction that ], s, Morgan & Co., and
other bankers, share In the transfer Of
stock. The sale Ia said TO comprise some
200 900 shares Of Central stock ut price
not yet male known, II Is understood
that Vanderbilt has demanded 100 for the
stock which closed to-day at about 1870.
The price Is thought too high by several
persons connected with the purchase,
and the delay in pOrieCting the sale Is be.
lleved to be owing to the inability to agree
upon price. On the part Of the Central
1t is claimed that sufficient concession has
been made in parting with the stock at
price 80 far below the market rate. On the
other hand II is urged that the transfer
does not affect material yVauderbilt's 4 con.
troll oi the property but gives simply to
tho Wabash interest representation In |
the directory Of the Central road.
The sale Is regarded rs IN indication Of |
harmony OF interests between the man.
ayers Of tho Wabash and Central systems.
To the Central the arrangement will give
the traffic Of the Wabash aud Union and
Kansas Pacific roads, which control large.
y the business Of the Southwest. The
Wabash system will gain an outlet 10 the
Atlantic seaboartl and tho two great rail.
road systems, which Il was feared might
engage In disastrous rivalry, will be Joined
In peaceful trailC. While II Ii not known
that the sale has been actually carried out,
1t is believed generally that some agree.
ment Rs 10 price will 10 reached speedily.
The stock, II Is understood, will be dis.
tribnted among the purchasers In blocks
Of 5000 or 10000 shares, and consider.
able amount will DO sent 10 London. The
price Is to be paid in cash upon the de.
livery oithe stock.
by the friends OF the Central It is said
that Nanderbilts large ownership in the
Central had been in some degree Injurious
to the highest ndYantageof the road; that
he himself had recognized this difficulty,
and recently had seen that his exclusive
control OF 1t had tended to antagonize
other roads. The admission to his di.
rectOIy Of representatives ot another sys-
tenn would have beneficial effect upon
both systems.
Tonight member Of q prominent firm
Of Wall street brokers said in relation 10
the report: "My understanding Of the
transaction is that Vanderbilt has trans.
lerred or sold out about so, 900, 900 Of Now
York Central stock ut 40, for the purpose
Of putting it on the English Exchange,
This Is probably the source OF the report,
Vanderbilt will hold control OF the stock
just tho same. His physicians have al.
vlsed him 10 take better care OF his health,
aud Imagine one reason why he Is dis.
posing Of his stock is 10 lessen his cares"
Vim. II. Vanderbilt was asked tonight
il the rumOr was true. He hesitAted,
then remarked: They say good many
things down in the street that are not
true"
lift Is not true, have you any idea how
the rumor originated%
"a great many things are said about me
that ! never could tell how they originated.
Some OF the papers had me nearly killed
last Saturday on railroad car. Tho story
was the same as this, out Of whole cloth. Il
All eau say Is that haven't sold share
and am not negotiating to soil a SHARE OF
New York Central stock"