Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-12-19

CgO per cent. ITllhe mercantile paper ooSi
per cent. Sterling exchange, bankers
bills, steady at 1907; demand 1914.
GoyERNNENTs-Weak and lower except
for Extended 6s, which are unchanged.
Skies extended
Ewes extended luSt4
Four-and-a-half HIS
Fours
RAIIRsND BoNDs-In the railroad bond
market Denver and Rio Grandt lSt ConSOls
declined to sos from Sl07l&, do. lst to SIP
from $ll3E =, Rome, Watertown and Ogdens-
burg lSt to S92 from S9412, Jersey Central
incomes to 500 from $l03E Texas and
Pacific Land Grants income To S7312Gy74
from SO, Northwest Sinking Fund Is to
SlOS1$ from $l094.
STATE SECUEITIES-In State securities
TenncSsecS are active and lower. Others
are dull
l75,OOO dollars in gold.
SroCKs-At the Stock Exchange the
market for the general list opened at az
x per cent. lower than at the close yester-
day. In the early dealings under the
heavy pressure to sell, prices declined a
to y. per cent, the latter Hannibal Il ST.
Joseph preferred, and Wabash preferred
and common, Memphis Il Charleston,
Jersey Central, Louisville Il Nashville,
Northern Pacific, Hannibal & st. Joseph
common, and st. Paul were also prominent
in the decline. Denver q Rio Grande fell
off from 90 per cent. to 60, but it immcdia-
tcly began to rise, and by noon hal re-
covered 3Is per cent. In the early part Of
the afternoon the general market
advanced 4@1A per cent Louisville
and Nashville, Texas Pacific, ST. Paul and
Wabash Pacific leading. Denver and Rio
Grande again fell Off pa 10 G7M, but subSe-
Quently recovered 2Is per cent. In the late
dealings the market declined fraCtiOnally
and closed feverish and weak The feature
of the market was the break in Denver and
Rio Grandc. The Post says in regard to ii:
"Thc rumOrs on the street IN connection
with the decline have been innumerable,
the principal ones having been that the
company itself was in trouble; second, that
the Mexican National Construction Com
pany was in trouble and third that one or
two Exchange firms which have been iden-
titled with both these companies were in
trouble because the loans which they had
obtained on the Denver and Rio Grande
stock had been called.
Respecting the first, it is denied on au-
thOrty that the company is in any trou-
ble for that matter the Denver and Rio
Grande railroad has no official connection
with the Mexican National Construction
Company, as will be explained later. AS
to the second rumOr. there is this founda-
ton: That company has built and is build
ing a railroad in Mexico, calling up from
subscribers to its stock cash installments
as this stock has fallen to a
discount in the market. As to
the third rumOr, il is denied on authority
of the firms which are subjects of the
rumors. They say that such Denver and
Rio Gr8nde stock as they held is not in
loan, but is paid for with their own money
and that the rumOrS respecting them are
simply scandalOuS. So much for the main
rumOrs on the street. The Mexican Ma
tOnal Construction Company was organized
TO take over from the firm Of Palmer Il
Sullivan, railroad contractors a grant which
they had obtained from the Mexican gov
eminent and to work under that grant. The
| company has no connection with the Denver
| and Rio Grande Railroad Company,
| the southern limit of whose road is witkin
| a few miles Of the southern boundary of
Colorado, or many hundred miles away
| from the northern end of the road, which
| is being built by the Mexican National, the
northern terminus of the latter road being
at Laredo, on the boundary line of the
| State of Texas. AS companies, therefore,
| these two are distinct, but the public mind
! is easily confused on this subject, by the
fact that Gen. w. J. Palmer who is Presi-
dent of the Denver and Rio Grande, was
! OF the firm of Palmer & Sullivan, and
| is interested as an individual
| in the Mexican National. 1t is well known
| that the projectors of the Mexican National
| are in conflict with Jay Gould, who has a
| difference with General Palmer, respecting
the grant, which was obtained by Palmer
and Sullivan from the Mexican Govern
mcnt 1t is also said that the Denver and
| Rio Grande property is wanted i'll the in
! terest of the Union Pacific Us against the
Atchison, Topeka and Santa Fe and the
! Chicago, Burlington and Quincy ex'
! tension into Denver, and it is not under
stood that Gould's interest in the Union
! Pacific is now sufficient TO induce him
! to open hostilities on the Denver
and Rio Grande, and it is, therefore,
! to be inferred that there is a combination
! OF interests against the properties with
which General Palmer is identified and
! that these interests have separate purposes.
| Whether the fight has more than begun,
and what the outcome of il will be, re-
! mains to be seen. 1t seems to be the best
! troll of the property, but the most interest
| ing point, whether control is wanted at
about these or at lower prices, is matter
| about which nothing is known, and
| opinions vary widely.
! The earnings of the Denver 4 Rio Grande
! for 1881, the last two weeks, are estimated
at ST, 1000; for 1850, $3,47S,0OO. Miles
! operated in 1850. 4,74O. Earnings per mile
in 1881, $7,944; earnings per mile in 1850,
! S7S4S