New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-10-22
sidered utterly worthless, and when last May, deal.

sidered utterly worthless, and when, last May, deal.
ings in it we're renewed at the Stock Exchange at
| about 3i2 per cent. the matter was regarded AZ
great joke. Yet to-day the stock sells from IOI,
to r. and the point thar il will soon sell at 20 "a
os freely accepted as 1t IL given. The proposed
agreement for reorganization" of the company con-
| templates the sale Of all the property aud fran
cbises under decree Of foreclosure subject to the
following mortgage liens: ~ indianapolis and
Cincinnati first per cent bonds, 81 900. 600. l2)
| Cincinnati and Indiana first per cent bonds
| Sl90,0OO; o. Cincinnati aud Indiana second per
cent bonds. S1.545,0O0; tu Indianapolis. Cincin-
Dati and Lafayette per cent bonds "
1867. S2.s79,000 % indianapolis, Gin
ciuDati and Lafayette equipment 6 per
cent bonds, $4,000 total, $G.ssj,OOO,
exclusive OF past-tue coupons bOnds Nos. 1 aud
,. The interests IN the property which will be cut
off by the proposed arrangement are: 90 Indianap-
oils, Cincinnati and Lafayette bonds Of 1869 aud
bonds issued IN 1873 for overdue coupons on the
same, S2.6s7,7jO; ~ mortgage bonds Of Septem-
Der -, 1873. $14l9,3O0; ,lsl capital STOCK,
$685., 100. But tine reorganization scheme pro-
v.des Tor an issue of consolidated mortgage per
cent bonds to an amount of S7.JOO.OOO. of which
So SS5, 900 80 be delivered TO trustees Tor the
pu pose of retiring the five of bonds coasoiI-
leaving 1913 900 consolidated bond, lbut q sixth
mortgage boId until the OF lcrs rctrcdl &C no
disposal of the company : hereafter styted. stock
to the amount of 81 OOO 900 is also to be- issued by
the new company. The a>senting holders n bonds
designated as No. u, - 0s7, l5O 10 receive Tor
their bonds 40 per cent Ia now stock; the assent
ing holder Of bonds No. TO receive 30 per cent
in she new sleek. l. al tue holders of these two
classes OF bonds assent. this will absorb S20]S,l4o
of The proposed issue Of now stock. Ana tla. the
following privileges will be extended to the holders
of bonds Nos. aud 7, ami to tne present stockhoid-
ers: 10 holders of bonds NJ. g. 20 pay TO the lew
company ia ca.h 10 per cent Of the amount Of tier
bonds and receive therefor that amount oi the
consolidated bonds ami 30 per cent aGd uouaI
N stock; 10 the holders OF bonds 40. Z, 20
pay the new company "a casa 20 pr cent oI mo
amount of their bonds, and receive therefor That
amount OF consolidated bonds and go per cent ad"i-
uOual III new stock 10 the asserting stockholders,
Tor per cent u cash of then old sfocA ANA sur
render 81 tnat stock, per cent ia Censor dated
Ionds and irr cent li new stOck. Inc pdri cu.ar
question Iropound,a ~ our cOlIesp ndeut. How
shall stand after Inc rcoreaniz ttiou D. now hny
100 shares of stock at II ~ is best answered 10y n
sort of account current. We presume onr co re-
spondcnt means 200 shares, the par vaiue II 900
share, Hnd therefore We put tue hgurcs III tAat
way a follows:
Pug nase Of 900 shares L. C. and l. stock $50 per ,oo
Pad the company o
$1,000
~. ,oo
shares ofne3 stock JslOoper shlr) ...-.--... $40
TOTAL. 500
That u.s. for tho purchaser Of stock at to-laYs
prices 10 Ct back his outlay lac must sell nis new
stock at ls}l3 per cent. The latest rel OIL OF me
business of tine company Was Tor tie year ended
June 30, 1873, and was as follows OruSs earnings
81 3O9,os7; operating expenses ana lakes
rSlf SOS net earnings, S434.3eS. 10 paw me III
te.esl the 0)nde de0t aiet rec MS rncilou Il
~
Again the transactions M stocks Tor "a slhgie uay
exceeded one-huli million of snaIes. Yet IL was
day of specalues, and alruOugn the whole market
WAS in continuous wnlrt oil excitement lloni 'ue
opening until the close the huasidvalces, with few
important exceptions, are not Significant az any,
thing but AN ordinary brokers marhrt. ne sPe-
cld features to-dy> trading were e c"a sto, h.,
and perhaps due to the extraord nary 'Hnrts
when were put forth 10 llft the prices oil these
that the general maj Iibifed much strength.
Persons OF ordinary PERCEPTION. NAV REASONABLY
| argue that il Delaware. LacklWanna ana
Western stock sells al 50, II PERFECTLY safe 10 buy
ANYTHING else on the list. Delaware, Lac HAVANA
| and Western was opened - Der cent higher at 81
| and quickly declined 10 SO4 bat as quickly recov-
cred ana further advanced 10 So tel after another
decne to s23s 1t To sj's, but IN the late sales
broke to S2la sales of 5000 shar :, aud closed
apparently weak. Delaware ana hudson rose rom
80 To 7l3sa 7O34, aud New-Jersey Central rom
743s to 10 closed at a. decline OF y per cent
WHINE Morris ard Essex rose from % 10 80. All or
this alleged to be based ne prospects at the
coal trade. IL Is really the result OF morning. but
the work Of spec uors, who believe that the higher
|
| Missouri, Kansas ami Texas stock assumed moro
prominence the dcaIiug-, ana was dealt IN 10 the
extent OF 81, 500 SNARE win an accompany ng al
| vance from 225s to % g. aud u later reas ion 40
| 21l!. Ii wOuG require very powerful microscope
% discover Oue-tenth of that price ~ The present.
value of the stock. he lst-caSs investment shares
all continued stiOng AT late quotations, aud there
was "A marked nproy cment in the pa ices of the E4'-
yateq railroad Ocks Newly Ork Elevated adyanc-
ing rom III ito l2iS4 Me roplntan from 1884 TO
llJl2 ana Mamma Ia. from 47l2 10 020JlS4. Ihe
pTaugpIs all higher nut III clos4n. sales show
little OF no Improvement, excepting Tor [ agO -.
Paul and Minneapolis. when rose from 1Oi4 10 0lO
4g5s Lake Shore AID Michigan Central u hual
sale, show declines OF Il and K respectively, while
Canada Southern at 76A l. - per cen higher, ana
Amounting 70 10000 shares, after RISING from 39l2
10 ILL., finally SOLD al 1893. lhe Northern
Pacific stocks were special features,
tie common shares Using from 1913 10
4Olod30 and the preferred shares from
6l3t 90 6ja63l2 IT. Louis. Kansas CITY
Northern common advanced from 3o's 10 3'40
}6s, while The preferred shares i, ron boSidO 90
to 65. aud Wabash from 4S'sU4olf 10 1914. II n
sas Pacific dropped from 80 To S2os. NASHVILLE,
Chattanooga and II. Louis was slll siroug. ris ng
from IS COLI AMI selli finally al 3oli. there
was "A ul IA tue speculation Ia the hcOkuA ana Ors
MO.nes shares and Their prices were barely steady.
lac miscellaneous st0cks ~eIe haldy a. hrni IN
price a. before. Pachc Mail sold up Ia 3'''s, but
closed in rather wa,e.-Oggrd cOndu ion al 33's-
| against 33lo Yesterday. Western iBiOn huctu8tet
betw cen 9S3t and 99la. closing unt hanged at ~,
| and Atlantic ana Pacific Telegraph sold nj II "a
4lssa4lls The eX Res stocks were O,ly steady at
previous prices. On cKsilyer common declihed
from 2Ol4 10 Is IA 1888 and preferred stock from
90 56l2d57l2.
The marx closed irregular and unsettled.
STOCK MA o..
A.r,tortcd tv ne GOa ana stock TsieSraDa c'oDaaE