Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-11-28
NEW YORK CENTRAL.
Election of Directors to Fill Vacan-


NEW YORK, Nov. 2s-The board Of directors
of the New York Central railroad met this morn
ipg and elected j. PierpOnt Morgan and Cyrus
w. Field directors to fill the vacancies caused
by the designations of JnO. E. Burrill and Jos.
Harker.
The Great Sale of Stock.
The Posts financial article says of the recent
purchase of New York Central stock from Van
derbilt:-We learn that although no part of the
contract, it is the understanding that Mr.. Van
derbilt will buy and hold stock of the Wabash
system of roads to the extent that the managers
OF the Wabash system of roads have by the re-
cent negotiation become owners of New York
Central 1t has been an open secret among the
well-informed that Mr.. Vanderbilt was large
down of prices last week. 1t is given out on au-
thority that none of the New York Central sold
by Mr.. Vanderbilt will come upon the market.
That paIt of it which is owned here will be held
London market. From all that we can learn
Mr. VanderbiltS relations with the Erie man.
agement are of the frendliest character, and
that the Erie will. strange as 1t may seem, lose
nothing so long as matters stand as at present
by the alliance of the New York Central and the
Wabash.
Boom in Stock Market.
The market (Which opened to-day at II
Central closed on Wednesday at 134224, opened
to-day at 1857 and advanced to 139. Lake Shore
closed Wednesday at 106 and opened this morn
ing at 1OS. Wabash closed Wednesday at 553
opened this morning at 60 and advanced to 629l;
the new stock changed in the same prOpOrtion).
Erie closed on Wednesday at 3sss opened this
morning at 40, and advanced to Al and Erie
preferred, which closed at 50 on Wednesday,
opened at II and advanced to u. During the
first fifteen minutes the general list advanced
14a7 per cent; the latter, Wabash and Pacific
preferred; Wabash and Pacific, common, and
Jersey Central advanced per cent. each. Wa
bash ~, ohio and Mississippi, IL, and Erie
per cent. From then then until about noon p,
Wabash and Pacific preferred; 81 in Wabash
and Pacific common;, 81 In Wabash; 2A in
of the list, the latter jersey Central Since
noon prices have again advanced 4a2 per cent,
the latter Western Union Telegraph; Erie ad-
vanced 1sl, Wabash II and Lake Shore per
cent. The money market is easy for borrowers
on call at to per cent, according to the col
lateral pledged. Time loans are sac per cent.
Prime mercantile paper is 5Ka7 per cent.
The Legislative Investigation To-
Day.
NEW YORK, Nov. 2s.-The legislative commit
tee on railroads continued its session to-day at
the rooms of Chamber Of Commerce, and Mr.
Chauncey NJ. Depew, counsel for the New York
Central railroad, began his summing up. In the
course of his remarks he touched on the evidence
given before the committee and the part taken
in the investigation by the cheap transporta-
tion association and the Chamber of Commerce.
and the motives of MeSSrS Sterne and Thurber
in pushing the inquiry.
Payment for the New York Central
Stock.
NEW YORK, Nov. 2s.-AccOrding to the terms
arranged between Mr.. Vanderbilt and the Syndi-
cate Of bankers twenty million dollars of New
York Central & Hudson River r. R.. sold at
S120 are to be paid for through DreXel,
Morgan & Co. in the following sums and on the
following dates: s5,0OO,ooO tomorrow, Move NJ
Der 20: s., 100000, on January l. 1850; $4,000, COS
February l. 1880; IS 0OO. 600, on March l, 1850;
and 100000, on March 81, 1880.