The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-02-24
IN AND our or WALL STREET
Tho busIness woek. though shortor tina

usual. was by no means unintnresting It's
two great events-the Union Pacific arrange
mont and the new move in Erio-contau germs
OF formidable speculative developments Tho
former event has been talked and written about
for several days. but tho substantial points of
the transaction have not been disclosed And
it could not be otherwise II would have been
worry bad policy on the part Of the members Of
the syndicate to- let the speculative community
know thu exact terms upon which tho bargain
was struck. They don't propose to keep the
whole 81 the stock they took on jaw Goud's
hands. Most Of it is to be out upon the market.
aud under such circumstances II H. Of course.
not to their advantage to let the public know
the cost price OF the merchandise.
That Gould did not get anything like $40 cash
for every one Of the 100 600 shares he has dis
posed Of IL quite certain. It would have de-
mended from half "A DOZEN operators. OF whom
only two can be called millionaircs, a disburee-
mcnt OF 81 900 600 or. at all events Of a. 600 600
| II the hypothecations were transferred. Tho
disbursement Of any such sum would have
| been likely TO cause considerable rcaliz.,tions
on other stocks. and would have been at once
felt in tho market Yet no indication OF ia
creased sales Of long stocks has been observed
Neither did Gould get half tho amount in
| Northwestern stocks and the other half in cash.
| II il "A positive fact that Mr. J. H. Koene and Mr..
| Russell Sage became posscsscd of over 10000
| shares Mt 80 some time before tho syndicate was
formed. What earthly reason could they have
| had to consent to an additional disbursement Of
tl5 per share, and what inducement could they
have presented to the other members Of the
| then contemplated syndicate TO pay more than
| they did2
In any case. It ia evident that the terms Of tho
bargain werc not dictated by Could aud that
| nj thp tu1 of MIA
wants. who say that he is now richer than ever.
and that the sale at ~ Of 100000 shares II stock
which had cost him only 80. was another
mustery stroke. Is sheer nonsense There can
| be no doubt that he parted with tho controlling
interest in this property under tho pressure OF
financial stress. For several years past no
made immense sacrifices. in the shape of in
tcrcst and commission for carrying his stock.
Apart from that. his last bear campaign. upon
which he entered on the eve of resumption.
took such n disastrous turn that tho sale Of his
equity in the stock nominnly owned 10y him
seems to have been his last resource. What he
has actually received for the stock will prob
ably not be known till the 100000 shares are
duly distributed in the community. and the
stock has taken its proper place upon the in
vcstmcnt list. Meanwhile" this IL what promi-
nent operator who has been closely watching
Goulds movements for several years past says
Of the results OF the transactions:
| A year or two ngo Gould was worth about
twelve milione; to-day he Is not worth four
At all events. would not give n cent more than
three II I had to buy him out He has still some
$4,000 shares of Union Pacific left. and they
will become very valuable when he has been
put out OF the Board; but they are heavily en-.
numbered at present"
The new move in Erie is likely TO have still
Ia.
Union Pacific road into new hands. 1t is said
that tie two transactions are parts OF one and
the same scheme. Whatever amount Of truth
there may be in this statement. one thing i.
certain. to wit: that the conditions upon which
the reported lease Of the Atlantic and Grca
Western road Is to be made are uncommonl,
advantageous 10 the Erie. II Is to have the us,
OF this important connection NJ an oblgator,
cost OF only $1,000 per mile. and il has to re-
ceive ono-thrd Of all tho net profits Of IN,
leased road. II Is no cxaggrration 10 say tina
In the recent history 81 railroads no transaction
OF such Importance has been better placed 70
obtaining beneficial results to both parties con
cerned II must be said. however. that thor
was ample time for combining all the points o
tn" present scheme for the two roads hay
been in similar relations before. and have a
all times been in close running connection
In convcr-ng a few days ago upon the gen
eral condition Of the reorganized Erie Com
pauy President Jeweit said that the work
ing Of tho road under tho narrow gaug,
has already doubled the business Of tn,
concern. Cars are coming upon the Eric lin,
from all parts of the continent. The company
has at present to handle an average OF 400
freight and passenger cars day.
Mr.. ]. r. Keene. who is known to hold owe
10000 shares IT the Erie stock. and who wal
the first to appreciate the prospect Of tho new
company, is very reluctant 20 speak on the sub
joct. All he could be induced 70 say. in n con
versation which took place upon the receipt o
the telegram announcing the completion Of tn,
lease. was: d" am not going TO say anything
concerning the plans still in contemplation
But know for certain that. il everything goes
IA l have reason to believe il will. Erie stock
will be selling at 500 a share before six month,
are over"
Tho week opens with extremely bullish prog
nostications on everything except the Western
Union Telegraph stock. the fate Of which still
depends upon Washington manipulatons. Ye
there are brokers and operators who still lool
with skeptical eye upon tho general condition
Of affairs. One Of them-N substantial man o
old standing-whom l tried TO interview tn,
other day upon the situation, said suegishly:
" wont talk bcarish for most Of my frend
are bulls. and don't want 10 hurt their feel
ings But have Just marked here somcthin.
which advise you to read and mediate upon :;
and he handed mo worn-out copy Of n chcal
edition Of the Bible opened on E''los astes
chapter g. The paragraph marked was:
" A time 10 get. and "a time to lose; II time L
keep. and atlmc 10 cast away"
" For what do you keep tho Bible here2'
asked.
" For the boys who come 70 give points. I al
ways make them take their oath before be-
liove anything they say Some Of them dom
believe even after that" RIGoLo.
The Death of Robert II. Gridcr.
LOUISVILLE Fob. GA private letter re
colAnl h.ln n- lLu. MInnm Amnnuu.o. iLn laAl n