New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-30
LOCAL MISCELLANY.

EAGER BUYING OF CENTRAL PACIFIC.
GREAT EXCITEMENT IN THE STOCK EXCHANGE OVER
THE OFFERING OF THE FIFTY THOUSAND ShAhHe
BOUGHT by THE sYNDicATE-sPEEpY SALE Vi
THE WHOLE AMOUNT.
The few visitors who witnessed yesterday morn
ing the opening of business IN the Stock Exchange
looked down upon scene seldom equalled even
here II had been announced that the committee Oh
the Central Pacific Syndicate would offer for SALE az
the opening hour the first 600 shares OF the STOCK
recently bought. Since the fact of this purchase
was first made public there has been an eager III
ouiry for the stock. but there was very
little in the market, while the executive
committee of the syndicate refused TO accept
private bids preferring bring the stock into III
slant activity by selling it on the floor of the Ex-
change IL was TO be offered at prices
ranging from so to "a, which were con-
sidered by many as far below its actual vaiue'
Public interest and curiosity were aroused ana some
of the most wary members of the Exchange were
eager to secure few hundred shares If only for
quick turn.
The representatives OF the committee who were
10 sell the stock were surrounded quickly yester-
day morning by throngs of eager brokers' Inc
floor of the Exchange was well led at
the opening hour. but the largest crowd
was gathered about the Central Pacific group As
the first stroke of the chairman's gagel. ringing
clear and sharp above the premonitory murmurs,
announced the opening of business. there was
frantic scramble for the coveted stock. In
an Instant the uproar was deaienlng. Inc
sellers were pushed and hustled to ana
fro. and soon became the centres of eddying
groups Prices were forced at once by the
keen bidding beyond those at which the
stock was to be offered. In Few
minutes the stock, which had opened at STA
tl,raa fxyoe 40 IL
ing at So and SO. while in another group,
few feet distant, it was selling at the
samc moment at 50. The confusion lasted
scarcely more than fifteen minutes when it was
announced by the sellers that the 90 1000 shares had
been sold. During the rest of the day the dealings
in the stock not large, and the price closed at
S4-234 per cent above the opening rate.
Prominent members of the syndicate said after
war ws that that S sS SSs had had BEEN
during the day. Mr.. Foote. of Hatch & Foote. said
that the firm had been forced to pay higher price
highest price named by the cc:nmittee !; that the
brokers had outbid themselves IN their her
anxiety to secure 1.-THE, the stock. ooorr n9e
record of the transactions. The total number OF
,hares reported sold by the God and Stock Iee-
graph operators fell short of 10000 shares.
RELATIONS OF TWO GREAT TRUNK LINES.
IMPORTANT FREIGHT NEGOTIATIONS BETWEEN THE
ERIE AND NEw-YoRK CENTRAL.
The completion of the Boston, HoOsac Tunnel and
Western Railroad, giving to the Erie Railroad an
Independent line to ROston. has brought the Erie
and the New York Central roads into direct compe-
hton for the New-En gland business. Several
conferences have been held by Presidents
Vanderbilt and Jewett but no conclusions
have been reached. The statements, recently
published, that these conferences had re-
suited in a division of the New-England business
have been pronounced untrue by prominent officers
of both companies. President Jewett yesterday
said that no settlement of the matter bad been
reached yet. The published statement that the
Erie road was to receive One-ffth of the New
England business has excited derison among rail-
road men.
The negotiations which are known to be pending
between the two companies comprise more than
division of the New-Engl gland business. There has
been between the trunk lines no definite pooling
been maintained for several years on bust
ness for the West. Pools have been estab-
points for the division OF East-bound traffic.
but this business has never been allotted formally
between the trunk lines. They have carried to the
seaboard the freight brought to them by their West
ern connections, and this has been regulated only
by the pools established at several shipping points
The opening of It's through line to Boston has made
the Erie Road formidable rival for all East-bound
business at Buffalo Its claim TO portion of the
business of the Lake Shore and Canada Southern
RAILROADS. whether uesiIneu 10 t, pOIO VI 10 NcN-
England the completion of the Boston line enables
il 10 enforce. There is said to be- however, no con-
fict between the two companies i'll regard to the
matter The division of the business is serious
question. but no doubt of an anlcabe settlement 10
entertained by prominent friends OF the companies
Ii is understood that nearly equal division of the
business is asked by the Erie Road When an agree
ment shall have been reached 1t IS probable that
the Erie Company will make with the Wabash
Railroad traffic arrangement similar to that re-
Gently made between It and the New-York Central.
The division of the East-bouDd traffic Buffalo be-
tween the Erie and the Central roads will be almost
a pooling of the business of the two companies.
HELD FOR ANNIE DOWNEYs DEATH.
CONCLUSION OF THE INoUEsT-EDwARD TIMM CON-
MITTED FOR TRIAL.
The inquest in the case Of Annie Downey, who
was found dead on January II at No. III Prince