The daily gazette., 1880-04-10
n, Y. S:ar, Friday.
TGnderbitt's Stock Deaf,
A TRANSACTION WHICH NErTKD Hi
OVER S42. 900 O(O

TRANSACTION WHICH MELTED HIM
OVER s42.O00, 600.
Messrs, Drexe', Morgan & Co., mana
gers Of the New York Central Stock
syndicate, gave notice yesterday that
they bad closed out the remainder OF
that stock. and that settlements were In
| order. At the Offices of the managers
no 1etatls could be ascertained, the
usual curt responses being given to
every inquiry FOR news. From other
sources it was learned that instead Of
10000 shares Of New York Central
stock having been taken, as insisted
upon heretofore, Mr.. Vanderbilt sold
and delivered $50 900 shares at l2O-tLe
last 100000 shares being on Joint ac-
count. The Sypdica!e, as it was called.
disposed Of among themselves about
200, 600 shares, and It Is not believed
any more were sold. Subscri pti ons. il il
said, were coming in so rapidly that a
few days ago circular was sent oLt 70
leading capitalists Of New York, London
and Boston, soliciting subscriptions for
the remaining shares at $50, with | per
cent. added for commissions TO DrexeI,
Morgan 81 Co, making the net price
l4l. Responses were received for 40. !.
900 shares, which was more than the
Syndicate had to dispose OF.
Yesterday 1t was decided to make An
award OF 80 per cent. Of the shares To
the subscribers, and the IL 900 shares
on hand were allotted. Each proDosal
was accompanied by certified check
for 10 per cent. Of the purchase money.
IL was decided 10 have a Anal settle
meDt with William II. Vanderbilt ON
Monday so as wind up the affairs of the
Syndicate. The total amount which
Mr.. Vanderbilt Receives out of this hea-
w stock sale 10 S42 200 900 of which he
has already been paid $50 600 900 Iaav
ing vi, 900 600 to be paid on 5nal settle.
ment. 1t Is his int n'ion to invest the
latter in per cent. bonds, SO that he will
hold 81, 500, ,O00in Goverumehts, max.
log him the largest individual holder of
such securities IN the world. HIS daily
interest On this Investment Is about S4.-
| 700. ~
There are twenty>nne hohiers of the
present 100000 shares of New York Ger
tral stock which Mr.. Vanderbilt has
parted with, of which Mr.. Jay Gould
holds In his indi vidnal right 90, 600 shares.
costing him over 50 0O0. 900, Among the
other holders are Russell Sage, Cyrus
W. Field. Alvin Ames, W. l.. SCOTT.
Interested in Goulds Wabash Paci 1e
kailaoad scheme; l.. Won hoffman a
Co, Prince & Whitley, Kuhn Loeb q
70, Hatch q Foote, and j. y. Morgan
- Co., of London, represented here by
Drexrl, Morgan & Co. By this transfer
OF stock Mr.. Vanderbilt has parten with
nearly one-third of the entire capital
stock of New York Central, which ia
now 100000 shares with prosDeotiye
Increase to 1,OOO.000 shares. The i'm
Preston Is general that at the next
election the Gould party will at least bt,
gwen ful representation In the direc-
tory, and there are not few who be :
heve tba; ultimately Mr.. Vanderbilt will
retire from the management of the road.
and that Jay Goald will succeed him
However this may turn out, 1t Is an un-
deniable fact that the Gould Interest
mas secured a strong foothoId, which
will give a representation strong enonSh
to secure an advantageous working ar.
ransement for the great Trans atlantic
trunk line of railway.