New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-29
MARKEr1NG CENTRAL PACIFIC srocK.
COMPLETION OF THE NEW CONTRACT FOR THE
SALE OF 1OO,O sHAREs-5O. 600 SHARES TO

COMPLETION OF THE NEW CONTRACT FOR THE
SALE OF 1OO,O sHAREs-5O 600 SHARES TO
BE SOLD TO-DAY AT THE STOCK EXCHANGE.
Fifty thousand shares of Central Pacific stock,
orie-half Of that recently bought of the original
owners of the road by syndicate Of bankers, will
be offered for sale at 10 o'clock this morning on the
Stock Exchange. The contract for the sale Of
the 100, 900 shares completed yesterday by the
signature of c. p. Huntington and by the delivery
of the stock sold outright The purpose Of the SYM
dicate was to mako the Central Pacific an active
stock on the Exchange. Members of the Executive
Committee said yesterday that 1t would have been
easy matter to market the stock at private sale at
prices higher, perhaps than would be obtained in
the open market, but that the purpose of the SYM
dicate would not be accomplished by dsposing OF
it in this manner: Numerous applications for the
by the committee and by other members OF
the syndicate. Nearly all of these offers
have been made by persons who bought the stock
for permanent investment; the majority OF them
have been at prices above those at which II VIII be
offered to-day at the opening of the Ex-
change. Brokers who are not among the
subscribers to the syndicate say that there
has been recently an active inquiry
for the stock but that there little aioat in the
markets that bids of 90 and 07 had been maGeon the
floor of the Exchange but that no sales had been
made even at those prices. In circular etter the
committee, which consists of X. L. Flower. j. ID.
Prince and j. ID: Probst, has announced that the
stock will he offered at scale OF prices ranging
from 80 to 81 and that "the starting price is pur-
posely made low IN order to give ample opportunity
for profit 10 purchasers"
Brokers generally expressed the opinion ycster-
day that the stock would be sold very rapidly, and
that the opening of the dealings oil the Stock Ex-
change would be the scene of considerable excite
ment.
1T will be the quickest man." said Daniel
g. Hatch, of Hatch Il Foote. who are
members of the syndicate, " and not the highest
bidder who will secure this stock"
Harvey Fisk, of Fisk * Hatch. said that the firm
had large orders for the purchase of the stock, and
that from the inquiries that had been made he
believed that other firms had received similar or
dcrs He regarded the stock as an excellent invest
ment likely to pay regularly dividends of at least
per cent.
A member of tho Executive Committee said
that he had no doubt that the sec
ond 10000 shares would be called within
a few DAYS, and that the syndicate would be closed
within "A month by the sale of the entire amount
bought.
According to the annual report Of the company
the debts on January 1, 1879, were Ss2,772.9O0 o.
including United states subsidy bonds amounting to
S27 $50 $50 the assets amODted oSlS7, ,oO3,O44 in
this statement the value Of the cOnpanys lands was
estimated at about 50 30 acre. The average price
realized in late years has increased largely, and
based on that obtained in 1878 the value OF the
lands would be over three times as large as the
estimated value then given.