The Evening critic. [volume] (Washington, D.C.) 1881-1885, 1881-08-10
Current Rumors in wall street.

SpeclHl 10 lHE ENlNG O1lIlts
NEW YORK, Aug. 10.-The railroad
people were more than confident last night
that the Joint executive committee, which
is to meet here to-day, iffully represented by
over forty roads, will come to satisfactory
agreement before adjournment on Friday or
Saturday. Many of them have been SO in
structed in advance.
Gould. who was to have arrived yester-
day. for some reason laid over, but will be
here to-day.
Mr.. Vanderbilt is already here. 1t was
claimed by the brokers last night that both
these magnatcs were purchasers OF stocks
yesterday, as were also their friends and
other inside parties. Woerishoffcr was the
largest buyer of Lake Shore early yesterday
morning some thought for foreign account,
and some said for Gould. Olcott & Carrolin
were steady purchasers all day, and q prOmi-
nent Wall street concern was bought for
ConnOr.
Conservative traders adhere to the belief
that dividend-paying stocks are good pur-
chase on every reaction and the market is
q good one to trade on.
There was story at the Branch last
night that Kcenes recent trip down to the
West End was for the purpose of offering
Grant the control of one of his enterprises
but the latter declined.
Common talks par for the Western Union
in September and says the company will
probably increase the dividends from six to
seven per cent
The Chicago Tribune dispatches this morn
ing reports, from the crop advices received
from Indiana, Illinois, Michigan, Wisconsin
and other States, grain of all kinds is suf-
fering from the severe drought, with prob
ability of not more than two-third yield.
Corn and tobacco look badly in Kentucky.
Frank Works house is said to have
bought $2,50O,000 worth of good stocks
within the past few days for long account,
and the head of prominent Broadway
commission, which has the reputation of
being II bear concern, says fully three
fourths of its contracts at present arc on tn Q
long side of the market. Aside from these
Others of magnitude who are long, and this
shows that the securities have been absorbed
and are not in the street for sale.
| Mr.. Vanderbilt, in an Interview with q
reporter here, said last night Important
matters must be settled before the war could
end. He did not know what need there
was for conference. He knew of no war
He was fighting nobody. The New York
Central had been robbed of its business, and
he had simply followed the rates of othei
lines, and henceforward his rates were the
same as theirs. He did not begin the cutting
and was perfectly satisfied with rates down
to hard pan, where there could be no mor'
stealing. The Erie Railway had cut rate
all the winter and the spring. The Balti
more & Ohio claim of 8 per cent. of New
York business is unjust, because it is not I
| New York road, and this matter is yet t
be settled. He concluded by stating tina
he had had no conference with any of tn
other Trunk line presidents, and had no
been invited to do So The passenger bust
ness alone of the New York Central increase,
in July $4,000, and the Lake Shore sac, OOC
The Chicago & Northwestern earning in
creased the first week in August $4,000
and the Chicago & Omaha S25,070.
The railroad people say that an entirel
new basis for pooling has been suggested
) providing that the division of traffic shal
+. hereafter be made on the basis of the gros
receipts instead of the percentage. of ton
: of freight moved by this means all Undue,
ment to cut prices will be removed.
Mr. Vanderbilt's intimate friends hay
reversed their views respecting the probi
bilities of settlement of the war, and the
, now say that the contest will continu
. until tho prices of stocks are lower.
: From this it would appear that Mr.. Nai
: derblt wishes to buy his own stocks /
f lower prices.
!. MeSSfS. Scilklnttn O. W. Suy tuitt ih III
h portant new railway has been formed f
[ building joint line of railroad from poii
V on the thirty-fifth parallel, north of u
Colorado River to San Francisco, and d
parties to it are the Union Pacific, q
Texas Pacific and the Atlantic Il Paeiii
o The road will be controlled by the Atchiso
y Topeka & Santa Fo and the st. Louis
q q San Francisco Companies.
q The Construction Co. isvcry strong, b
q ing guaranteed by four companies.
l. The Milwaukee and st. Paul Railro
r, earnings the first week in August we
!, $500, 900, against 1921 ,461 last year, an
q crease of $13S,539.
Mr.. Tcllinghart isquoted as having stat
that nothing would be accomplished at t
10 railroad meeting to-day.
A. Superintendent Rutter has given ordt
=. for the New York Central to adopt whi
:. ever rates the other lines may agree upc
s, Teacher: "What was the sin of our fl
A norante ~, nriubt nunil Stealing annle