New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-11-23
A NEW STOCK EXCHANGE.

MINT OF THE PRESENT STOCK EXCHANGE-DIFFi-
GUILTY OVER TIE LISTING OF CERTAIN STOCKS
AND HARD FEELING WHICH ENsUED-WHAr Cf-
RUS W. FIELD AND OTHERS SAY OF THE sCHEMf.
1he establishment of a new Stock Exchange
IS contemplated by several large capitalists
who are said to be not altogether satisfied
with the management of the present Board
The Governing Committee recently refused to
place on the list of securities the stamped GER
tiiicates of the Metropolitan Railroad Company
under one of the arrangements for the union
of the three elevated railroads. The site which
has been suggested rs a good one for the new
Exchange building is in the lower part OF
broadway opposite the proposed new building
OF the Produce Exchange.
DETAILS OF TIE MOVEMENT THUS FAR
The plan of u now Stock Exchange in New-fork
IL said to be the suggestion of Jay Gould. His chief
associates in the enterprise are Cyrus w. Field
Russell Sage and Sidney Dillon. The names OF
William II. Vanderbilt c. p. Huntington, ex-tiov-
crnor Morgan, ID. o. Mills. David Dows and Hugh
j. Jewett were mentioned yesterday in connection
with the scheme, but Tic use Of the names of most
Of them, at least, was Unauthorized. MIR. Wander
bt and one or two others denied in the most posi-
tive manner last evening that they had any
thing wha,evcr to DO with the matter.
2 he details of he plan, apparently, have not yet
been arranged Two meetings OF some of
the persons Interested in it were held yes
tcrav and another meeting is TO be held to-day. II
j. gwen ont 10y friends of the project tnat new
building will bc erected in the lower part OF
Broadway, and land suitable for lie purpose is held
by the Manhattan Railway Company, which ac-
quirod it recently from The Ncw-York Loan and I'm
prrvem"nt Comrany These lots near the one
III W init dc 20 Iuil gTf
almost opposite the site of The proposed new Pro-
duce Exchange. The plan embraces not only
Stock Exchange, but also a trust company and a
bank TO facilitate the new business
It's admitted by some of the most ardent friends
of the project that the recent acton of the Govern
ing Committee of the present Exchange in regard
Ia the stock OF the Metropolitan Elevated Rail
road il the immediate occasion of
this movement After the agreement last
month between committees of the three
elevated railroad companies. which modified
the terms of the leases TO the Manhattan
Company Metropolitan stock stamped according
to the new agreement was put on the market. Ihe
Committece on Securities at once ruled that the
stamped stock was not good delivery, and this de-
ci,on was maintained afterward by the Governing
COMMITTEES. Thus rejection of the stamped stock
made necessary change of plan on the part Of the
elevated railroad management, and ihe proposed
merger Of the ,thor two companies with the Man
haitian Company was indirectly the result Some
Of tho companies complain bite;ly of The action OF
the stock EXchangr.
MR. FIELDS DISsAIIsFACiIoN.
Cyrus ". Field, president of the New-fork Ele-
waited Railroad, expressed his diS7at staction very
torcibly yesterday. lie said: There never vas
such an outrage ~ admitting lawyers to the meet
ing OF the GOVERNING Committee to oppose inc ON
GERS Of the companies. IL was the greatest out
rage ever perperated and we haye had enough H.
such thing was without prcccdent or excuse P''
ii m Che officers of the companies against attorney y
-pad attorneys too, an interested III ock spccd-
laiion II Wa, y'ldnous outrage
SIR. Field further sal that the plan Wouh nc
carried 10 success; that persons IN Europe were
deeply interest ed m it and prominent men Az over
the country lie declined, however, To make known
the names of any person, present at the meetings
| Yesterday which lie attended or oi any oilers VINO
might be Interested Ia IL. tie asked II the plans
| inr the new build'ng wCrc being pFcpAr'd' uui
| rc only replied: " know who the architect VIII
Russell Sage was exceedingly careful in his state
mcnts concerning the matter, hut referred lhquileIS
! 10 Mr. Gould aud Mr. Field. who, he s1d knew All
| rben,I1 he added. "and cannot belong to any
| I know nothing about 'h,; Nr. Gould anu MI
! Firld can tel' AL there !. in H..
SIR VA DEEUILT'S LACK or INTEREST
William n. ynndcrbi said last evening in reil-
! and don't want TO- / have bu mess enough OF my
own 10 attend 10 without looking after any other
The idea of mg joining stock Exchange! | am
NOT a stock broker nor a stock spcculltor. have
| no need Of any such connection. know morning
| about the matter and would not II could
| wHfRE THE Plan WAS SUGGESTED.
When Sidney Dillon was o. ked about the now
| Exchange he replied: There - really no lhior'ha-
| non io give yon. as the details have not yet been
.r 4 l.. nj. IL Il
| meeting Of the Vi 'ropo,au people to-day Jay
Gould casually u.u loncd that that buldng at the
| foot of BruadWag-ihc Washington Hotel tulhN
! H. i--woud mIh good site lnr Stock fA'AIHI''
Scveralo the men present agrred thll !. w""I
a goo place. Wei, alder that. thrr" was a @ @I'.t.'
random tall. about IT,. but nothing was ooHo ''""'N
! arranging the pau+ ~
| "Dp yOu TIM, The scheme n iea-De 0nct
| - | see no reason why II shouldn't De- ..
q" Is the OBJECT to act in opposition to the present
"Wrl it certainly would be an opposition Ex-
EX-tiovernor Morgan said that The TmBvEE re-
porter who called on hnn last evening was 'hc ,y miS
person to mention 10 him aAythlhB ho%ouU % a,nb "
| Stock Exchange. "Why do want to JON sucn /"
| scheme ~ SAID he. 4" | an not III the STOCK @ @puS-
ncss. What do We want new STOCK EAoNg"s'
" That is what came here to find OUT said the
! "Woi, You can't learn from me, for don't know
iugh j. Jewctt said that hc coHld not talk about
the matter yet, as the scheme was no. au''H'0" 40"
| enough
| DAVID DOwss AsrONIsIiMINI'
| David Dows said he was astonished Wheh ho was
| asked last night for Information concerning 'no
proposed organization. IL know absoIu'ely noun
ing concerning the project" he rrph'd. lp'Se
not only not been approached upon tho SUD
inct but had not heard word abolt II u',li S",,
| mentioned H. Nv attention haa n0t even oeyh
cacI to what hal been pUbi he,i IL regard To- @ .no
! scheme indeed, | would not give snSh Il sen scn,,p l
my approval. There is no necessity loi ""0' W
| Stock Exchange
WHAT MEMBgEs OF TIE PRESENT ENCHAN"I 'Ni =
4 rcponcr called upon several members oi tho
| stock Exchange last evening to SEQ what 'AcS