New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-08-03
LOCAL MISCELLANY.
Su.pp ADVANCE IN NORTHWEST STOCK.
90, croprrs OF A STOCK DIVIDEND

a SIN" ~, o,n STORIES OF A STOCK DIVIDEND
DENIAL by vIcE-PREsIpENr SYKES
WILL street WAS treated to a sensation yesterday
in the large and sudden and a%vanse Railway
EosnMsnv The common stock opened at l3oi
AGAINST aSanst 1874. on Tuesday night Il , Sns
not until the last hour however, that he gfea,vss
mari of the days improvement was made I"en 'n9
common stock shot UPWARD almost without reacadio
ending at las the highest price OF the gay anu
gain of 1Ol4 per cent from Tuesday. Inc uanS Sno
lions in the common stock amounted 10 IS,oi
shares and were exceeded in amount py 'ny S oIv r.
SIX other stocks The preferred stock sol9 olS ~
the amount of ,7O5 shares, but IN the is iSa on
price advanced from 1904 to 100, against 10 w
The rsmarSs6le movement in this stock set the
Tongues of street gossIps waeging: The rise was S
more notable account OF ITS t aSts p,v cent;ons
focc of general market that with rev eAc9P.Ens,
ended below the final figures of Tuesday: various
theories were advanced III expa nation Oh Vilc s
nc exnlnts like that of yesterday about twice
wear These generally turn out 10 ne tne result VI
manipulations by poor or comoniaelon VI
nlators hut they have always been accompanies
Nv reports that a distribution OF stock OF scrip
d;vidend was to be made to stockholders. lesVer,
day the same reports We're e SaS recenlv
mended the distribution IN STOCK ol .b ta%
company's surplus. Rumor had IL on tna ma.
the preferred stockholders would receive oS , RIs
cent and the common stockholders 40 per cent Oh ts
surplus The amount OF the surplus was y, St ho
by some 10 be about 5000 0OOS 90 lar as oou So w
4.
snecul,tiy e sources The bears at the StoSk En-
change conended that the advance IN Tue C aS
and Northwestern stocks was a man bb;nh TO sell
large speculators as a cover uLder winch 10 SCH
other stocks. =, IL Cl,;oooo ond
n l.. sykes. vice president of the chicago anu nf
Northwestern Company. Is the prlncpai olloer , %
The company in this city. TO n TRIBUNE reporter
he said that his office could afford no Oh
the movement in the stock. SO far as he Knew tneIe
mad hern no meeting of directors or officers 70 con
sder the question of declaring scrip or STOCK G ni
dend. no conferences no talk, nor anything 10 i
cate a change in the policy OF the company,
He wished he were abe 10 s1A
that the street reports were true. lie couu
not do So and If there any foundation 1Ur .me
stories the facts would have TO come from Chlcaeo
where the presidents Office was AT the same 'iaiae
it would be strange if the oce da1 !, no.
tpow nj such movement as the one reported IL IL
had been discussed decided upon IA the course
of fime he hoped that the growth OF the COMPANY
wonid hermit a distribution OF capital 10 lhe
stockholders, but he thought that the company
would wait for that event until ~ was sIr" rs
enough to be independent OF the failure OF Isl th
Years crops. The report of the company 1vr tH I!
iios, fiscal wear was in active preparation, aud 1t
would be very favorable But he knew nothing t pa
any intention to issue new stock OF scrip 10 'ne
Stockholders.