Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-10-28
THE"NICKEL-PLATE''
Purchased by William II. Vanderbilt,
After All His PrOtestatiOns OF In
difference to Its Existence.
Great Excitement Over the Announce
ment Of the Event in New York,
Cleveland and Chicago.

NEW YORK, October 27.-J. h. Devereaux,
president of the Cleveland, Columbus, Gin
cipnali and indianapolis Railway Company,
and Judge Stevenson Burke, vice-Presldent
- the Columbus, Hooking Valley and To-
ledo railway, as representatives, OF syndi-
cate that is interested IN noth roads,
have acquired control of the New 1ork,
Chicago and St. Louis railway, more famil-
iarly known as "Nickei-Plate." The esPI-
talis;s they represent are not known. In.
Tribune SAYS: "Iu the opinion OF many me
'Nickel-Piate' Line will be regarded as NOV
ing it from the list of sctTe rivals TO The
Vanderbilt roads. Devereaux, however, has
been prominently connected heretofore with
Erie railway interests both in the East and
the West, and he was receiver OF the old At
lantic and Great Western, which Is an ad-
junct OF the Jew=tt roads"
JAY GOULD SUSPECTED, BUT VANDERBILT Is
THE MAN.
CLEVELAND, October Collaboration
from Trustworthy sources is TO the effect that
when Jay Gould passed through this city
last Sunday he had conference with Judge
Burke, who is said 10 have confidential
relations with him. This circumstance leads
the lew who know OF it 20 believe that the
"Nickel-Plaie" has been purchased in Goulo's
interest. On the other hand the Cleveland
Herald, which has been in measure the
organ of the "Nickel-Plaie," one Of the pro-
prietoIs being a prominent official OF the
road, editorially refers 10 Vanderbilt as the
purchaser.
DEVELOPMENTS IN PROGRESS.
CLEVELAND, O., October 27.-President
Devereaux, OF the Bee Line, was neksd to-
day as to the truth of the report CT the sale
of the New York, Chicago and st. Louis
railway, best known as the "Nickel-Plate."
He said ne and Judge Burke, of this city,
into Z ,ar oaA for
a syndicate, paying seventeen foe common
and thirty seven for preferred. Further
than this he is not at liberty to speak al
present. He wishes the information for the
public to come from New York, if given at
all. He said other developments are in
progress, not yet understood, which will
probably mature within month, and that
when everything is made known he thinks
everybody will be satisfied with the CHI anges.
Judge Burke, who is vice-president OF the
Bee Line, and also of another road, is sup
posed 10 be interested, and Is expected to-
morrow night.
NO KNOWING HOW MUCH STOCK HAS BEEN
SOLD.
CHICAGO, October &c. +. cummings,
president Of the New York, Chicago and st.
Louis railway ('Nickel Plste"), is strong in
the belief that Vanderbilt has bought stock
in the roads, and says he thinks yesterdays
purchase was made by parties who control
the Cleveland, Cincinnati and indianapolis
roads. Mr.. Cummings did not know exactly
how much stock had been sold, but knew
that controlling interest WAS disposed of
yesterday.
NO DOUBT THAT VANDERBILT is THE PUR-
CHASER.
NEW York, October 27-The Evening
Posts financial article says: "The transfer Of
a controlling interest in the New York, Chi
cago and st. Louis Railroad Company con-
tinues to be the topic of discussion in Wall
street. 1t appears that the nominal pur-
chasers were j. III. Devereau1, president Of
the Cleveland, Columbus, Cincinnati and
indianapolis railroad, the controlling inter-
est in which company belongs to William
H. Vanderbilt and Judge Stevenson Burke,
who is vice-president of the Columbus,
Hooking Valley and Toledo Railroad Com
pany and director in several OF the Wander
bilt companies. The real purchasers are
Vanderbilt and the controlling owners OF
the Hooking Valley road, and who are
friends OF Vanderbilt, while, according 10
information we are bound to regard as
trustwor.h these are the facts. As to the real
purchasers il is very likely that the affair
has been so managed that Vanderbilt, speak
isg in literal way, said he was not the
purchaser. The main advantage of this
purchase 10 Vanderbilt is that be and his
friends now control the road, which might
have given serious trouble to his entire sys-
TEN of roads from New York to Chicsgo.
The effect of the transaction on the Stock
Exchange was to cause decided change in
its tone, and in ihat,it clears up the speculs-
tive stu ltion. The change may become
even more marked"
The Mail and Express says: "The street is
disposed 10 believe that the latest deal in
New York, Chicago and st. Louis railroad
is TO Vanderblli's account, whether he will
have it go or not. A dicker was opened by
the Western people through Gen. Devereaux,
of the Cleveland, Columbus, Cincinnati and
from Cleveland TO the Ohio river. The Seney
people profess not to know TO whom they sold
their shares, or for whose account, or in whose
interest. Gen. Devereaux was the only per-
son known, and through whom they dealt,
but whether he acted merely as an agent or
chief cannot be determined; 30 the street
holds Vanderbilt responsible for the mys-
terry. Gould offered fifteen for common and
thirty -tive for preferred about two weeks
ago, but the Seney people were not disposed
to accept these terms. He has since had his
eye upon the property, and one of his mo
lives for going West was to Try and make
some arrangement by which his scheme
should be consummated, but Vanderbilt was
just one week ahead of him, Tue strength
IN Vanderbilt shares, principally in Lake
Shore, Michigan Central, and Canada South
ern, gives further credeuce to the suppos-
ton that Vanderbilt has acquired control OF
the new road"