New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-11-29

way of the ST. Joseph and Denver City Road. IL
has acquired the Chicago and Padncah, and the ex,
tension of this line to Chicago Will be completed
probably within three weeks. lt has gained con-
troll of the road from Danyile TO Cairo;
which. in connection with other INES VIII
give a through line from Chicago TO New
Orleans and Texas. These combinations have
made the Wabash system of the greatest
corporations in the country. At one time II was
cOntem plated to unite all the roads-the Kansas ana
Union Pacifics and the Wabashline propcr-into one
company. This proposal met with considerable op-
position, and for the present. u Is sad. mas
been abandoned. But under substantially the
same ownership and management have
been gathered railroads nearly G.0O0 miles IN
length. The company delivered to the Wandering
roads at Toledo. last year, $4,000 ears of through
freight. For this business the Central and Lake
Shore Railroads received on an average $50 car
This business, which 1t is predicted will exceed
next year 100000 cars, was agittering prize.
DESIRABLE ALLY.
II was said yesterday by n friend Of the Wabash
Company that when these figures were shown first
10 Mr.. Vanderbilt. he REGARDED them with growing
establishment. The completion Of its Chicago ex-
tension will give it ut that point large
business, which has been estimated for next
year at 80 600 cars more At the two Eastern
tcrmini OF the road the company expects next year
To deliver 900 900 cars of through freight. The
possibility of losing this immense business. it is
said led Mr.. Vanderbilt TO seek an alliance with the
company on any reasonable terms III is believed that
the arrangements that have been concluded Will be
beneficial TO both systems Some doubts OF The long
continuance Of the alliance are expressed, but the
struggle which had Lcen expected by many has
been averted for time.
Alta meeting yesterday of the directors of the
NewYork Central Company, Joseph Harker and
John Il. Burril gned their positions and the
vacancies were filled by the election OF j..
Picrpont Morgan and Cyrns W. Field. The
election Of the second Wabash director, Scion
Humphreys, Is contingent. under the terms of the
agreement to a partial luhment of the contract
Ii was not provided that he should be elected at the
meeting yesterday but II ~ Understood that he
VIII be made a member of the Board at the next
meeting.
EFFECTS on THE STOCK MARKET.
After the Thanksgiving holiday the speculation
sat the Stock Exchange broke ont with renewed
vigor The Vanderbilt stocks. Wabash and Erie
opened al prices considerably higher than the clos
ing prices of Wednesday. They advanced
with rapid strides, and although part
of the rise was lost, they closed sew
eral per cent above the opening prices.
Central, which closed Wednesday at 1914 opened
at 1882, and after an advance to l39 closed at
1862. Wabash common opened at an advance of
Big per cent and closed at 477s, having touched so
during the day. still larger rise was made in the
price of the preferred stock. Erie, which closed
10 and closed at 40, the highest point
Of the day. The dealings were marked by
great excitement. and at the close the Erie group
OH the iloor of the Exchange resemblcd more n
lively scrImnagc than gathering of business men.
IL appeared to be the general opinion that the ar
rdngement, which thought at first TO bc
would prove in the end beneficial. The relations
between the present management of the Erie aud
that of tho Central are SAID to be so intimate that
the former is likely to gain from the advantages OF
the Central. Ii is said that Mr.. Vanderbilt did
much to retain, the recent election the present
management of the road.