The daily gazette., 1881-03-10
More About the n. w. g. ".
An Advance OF a Round MlllIon

The capital stock OF the Philadel =.
phla, Wilmington and Baltimore
Railroad Company is $1l ,572, $50, at
$50 par value, so that to obtain a
controlling interest 1872 shares
must have been secured or pledged.
The difference in price between that
offered by Mr.. .Thaver and the Penn
sylvania Company amounts to 81 =
600, 200 in round figures, and also
the approaching May dividend of SO
a share, which will cause sharehol-
ders to sell to the latter, thus loav.
ing Mr.. Thayer without the means
OF making good his contract with
Messrs. Garrett and Haven. Taks
ing ll5,728 shares as the amount of
stock secured by the Pennsylvania
railroad Company, valued at S.
1856 400 at par, the price contracted
to be paid is 50, ,025, ,784, or SO, $780,
304 above par.
THE NEW issue OF PENNsYLvANIA
RAILROAD STOCK.
The Board of Directors, In obtaining
authority from the stockholders of the
Pennsylvania Rairoai Company for a
further issue of 100000 shares of stock.
lave no Idea of issuing at present, al
least any part of that number, but what
will be actually needed to take up all
livestock of the Philadelphia, Whining
ton, aud Baltimore Railroad COMPANY
offered by the first Of April at S7S a
share. Prior 10 yesterday's meeting the
company had already balance of So
313,OOO of a block they had previously
been given authority TO issue. As they
have agreed to take whatever stock is
offered at SIS, it was necessary to obtain
further issue, and, as an officer of the
company stated this morning, while they
have no earthly use at this time for The
2O,900,0O0 authorized the Directors al
ways, i'll going to the stockholders for
such authority, ask for more than ia
actually needed. BY this means they
have good many for future emergency
without the necessity of calling upon the
stockholders for approval.
When asked if the new Issue would be
apportioned TO the stockholders at par
value, $50 share, one OF the officers of
The company Ieplied:-
"Weli, no; such an idea is too idiotic
to speak Of. IL isn't likely that the com
pany woald dispose of the stock at par,
when they can get " or % for it in the
market. Ii the stockholders are not
willing to pay for the Improvement TO the
property brought about by this purchase,
and for the advantages gained by the
company, the stock will have To 20 to
outside parties"
THAIER SETTLES WITH THE GARRETT
SYNDICATE.
L, is stated that Messrs. Garrett and
Haven and the parties they represented
have Inade settlement with Mr.. Thayer
on terms perfectly satisfactory TO them.
selves, and that the contract of sale made
by MIR. Thayer has been cancelled. BY
the sale TO the Pennsylvania Railroad
Company at $78 share, the Garrett
Syndicate are entitled 70 receive from
Mr. Thayer the difference of SIS share,
aggIegating nearly $l,000,000, as the
forfeit OF his failure to deliver the stock
at SO. IL was, of course, to his interest
10 elect settlement OH the best terms
possible. He first made the proposition,
1t Is stated to pay the syndicate $250,O00
but the syndicate insisted OH the old
gentleman living up to his contract.
This brought out another proposition,
and the settlement was not Effected un-
Ill Mr.. Thayer had agreed TO hand over
nearly half a million dollars,
PRESIDENT HINcKLEY,
Of the Philadelphia, Wilmington and
Baltimore Railroad Company, when
questioned concerning the purchase,
manifested great satisfation at the
turn affairs had taken, and said there
vas no possible doubt about the sell
ers being able to deliver the stock in
the new transaction. There were some
1880 persons owning the eompanS's
shares. They were scattered all over
the country, and enough of them had
already been heard from to make up a
majority of the stock. When asked if
new lima would be built TO Baltimore
under the recent charter passed by tho
Delaware Legislature, Mr.. Hinckley
said:
"rhe Delaware Western charter has
the granger clause in 1t; that is, the
Legislature reserved the right to
amend or revoke the charter at any
time. r'ew men will be found bold
enough to put money into railroad
which IS always al the mercy of State
heS Isl iJuFo. nlS Will undoubtedly
deter sound business men from put
ting money into that road. do not
believe there will be another road
built, and do doubt if the charter is
valuable to anybody"
VIEWS CT BALTIMORE AND OHIO oF-
FICIALs,
First Vice President John King, of
the Baltimore and Ohio Railroad
Company, stated last night that he did
not know by what mischances the
Baltimore and Ohio had failed to Sc
cure such an interest. Mr.. Robert
Garrett bad been managing the matter
and he is in New York, so that as an
officer of the railroad Mr.. King knew
nothing of The matter. He reiterated
the statement that it was not the Bal
timore and Ohio Company that endea-
vored to get a controlling interest in
the Philadelphia, Wilmington and
Baltimore Road, but a syndicate of
gentlemen friendly to the Baltimore q