New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-08

THE HANNIBAL AND ST JOSEPH "CORNFR y
THE STOCK REACHES 200-DIFFERENcEs POSSIBLY
TO BE SETTLED IN COURT-THE PROFITS OF THE
POOL
The corner" in Hannibal and St. Joseph
common stock eliminated yesterday when the price
early touched 200. understood that this was the
price finally fixed for the settlement and that
some private settlements were made yesterday
that price Some CT the members the pool reported
to have been in favor OF fixing the price for set
Element at 800, 3ut the brokers who have had
the principal charge of the operations of the
pool objected Ia the price, and consequently lower
figure taken. Mr. Keene who was short less than
1000 shares OF the stock promptly made his settlement
before the opening Of the Exchange at price said
to have been considerably under 200 There were re-
ports in wast that Russell Sage also had settled nv the
payment Of about S73000o. This report Mr. Sage de-
cared to he false but at the time he denied that
he was :" short" Of the stock. Ii is believed that
certain spectators have yet settled their differences
and that questions arising from the corner NAV he
brought before the courts. 4 holder of convertible
bonds ~ the company yesterday served notice on the
officers of the company that he demanded that the
held by him be converted into unprcferred stock at
par forthwith, and that he should the officers and
directors of the company liable for any damages result
ing from neglect delay In complying with this de-
mand II well understood that this notice WAS given
In behalf OF certain large operators short" Of the
stock.
the Ian uage the bond and of the mort 20 in
tbc on any LIST day of March and September IN to the
last year of the life of the bond They DECLARED thar
the present claim for the conversion of
intended only rs blud' The amount these bonds
outstanding Is S4O0OOO0 and is understood that be-
sides this notice from holder OF $4,000 bonds "A
further S1O0OoO was rendered for conversion az he
company " Office. The application denied by the
advice OF counsel. - 49,
person supposed to be largely interested in the on
eratons of the pool said yesterday We have settled
with some OF the smaller fry, bat the large
have not come 10 time. We looking down their
pockets 10 see how much there is in them ore we
settle That X what certain large specuntor once did
rkpf.a md hi,l.
times come home 10 roost."
William Dowd president OF the company said that he
had no interest III the pool and that the members of in
had not taken HIM into their confidence. One
OF the directors remarked that the notice
from one or the bondholders might result
unfayorably for some of the officers OF the
road He said that mt meeting of the directors some
time ago. he had offered resolution authorizing the
president TO sell stock against the convertible bonds at
ms discretion and without consultation with any mem
Der OF the board The conversation tho meeting was
In faVor OF selling between 90 and il was left an
tireiy TO the Judgment OF the president.
There was considerable conjecture INDUCED In vester
uay III regard Ia the profits of the pool The manage
men of II was criticized sharply by many persons WHO
were not Interested IN the stock The amount the short
interest was believed generally not been above
Io,ooo SHARES, ana by many II thought have
exceeded 1000 shares The pool had accumulated il
was SAID, about $4,000 shares average cost az
ABOUT 80 The profit of the operation therefore would
hardly exceed III 100000 and would reduce The cost
OF the holdings Of the pool only about 65 Ii Was he
eved To be Impossible TO dispose of stock at an uti
mate pront Yesterday the stock offered at us.
seller fifteen days and when $50 bid at the close il
sold AT 50, seller ten days, "