New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-10-28
RAILW1Y INTELLIGENCE.
THE PURCHASE OF THE "NICKEL PLATE"
THE COMPOSITION OF THE SYNDICATE NOT YET
MAnr DIM 1r--rrntfa nF TILE SAFE


THE PURCHASE OF THE "NICKEL PLATE"
THE COMPOSITION OF THE SYNDICATE NOT YET
MADE PUBLC-TERMs OF THE SALE.
The question whether the Nickel Plate" rail-
road has been bought by William II. Vanderbilt
was not answered satisfactorily in Wall Street
yesterday. The price OF Lake Shore tstock
advanced rapidly. because Of the popular opinion
that a sturdy rival of that road had been hroLted
almost at BIRTH while the early prices of the
"Nickel Platen stocks were the highest of the day.
The course Of prices at the Stock Exchange I'M
doube edly followed the current of publlc opinion,
which was turned now ana then by rumoTs and
apparently semi-oticial statements. The acknowl-
edged facts that the control Of the stock passed
OH Thursday into the hands of certain persons rep
resented by General Develeux and Judge Burke, OF
Cleveland and that these nominal purchasers are not
acting simply on their own account. Thor principals
in the transaction apparently suits tho purposes
of everyone to conceal George /. Seney, president
of the Metropolitan National Bank, who has been
from the beginning the very head OF the new
opposition, said yesterday that he DID not
know who were the real purchisers ol
the property. G. :. Brice, first yIce-presdent, 4,
said that he knew nothing more about the real
| buyers than had been published In lie LRiB-
UNE.
One OF the prominent members of the syndicate
which Oulit and sold the road saId no success
| been plainly owing 20 two thing only. Inc
money necessary to build the road was ready nc the
start, and ali the persons Interested IN lhe project
shared IN ever, way al1Ac From tnc~e iactS IL mas
followed naturally that all the tremendous Efforts
that have been put forth in the last year TO $40 p
our progress have been wasted, we ,hau
not only the money 10 buiid the Hue,
but also the perfect confidence OF every member
the smallest, Of our combination. In this has
been our success winch has been greater inlnk
than was ever before realized IN an equiIiy 4aige
Undertaking in th' same time. Ouf net prOhls arc
just about what We 2et Ior tho stock-sdy twelve
or thirteen millions"
An officer of the Nickel Plate y company made
known yesterday some the details of the bargain
The purchase money Is 10 b. pad IA hYs inonthly
instalments, on tine first day OF each month,
A considerable sum was pald III
cash Thursday. Ih' pres ut man-
ayers reserved for thelr friends the priYIlc g
oI joining IN the sale the same terms. Ii was
greeI tuaC the absolute control OF the property
was 10 be- gwen up when 90 per cent Oi the pui-
honey mad Oeon paid, or at the general meet
ing III January but the purchasers hO.u the Ignt
to antIcI paJe the payments at their ONn pleasure.
The suno officer SAID tnat. III addition 10 the
$l5,OOO,UO0 illsC mortgage 0onos ana the
81 900, 900 equipment bonds, rhe purcn isclS as
sumcd ali LIABILITY for S4OUD.0JO uoa ing deot and
$4,000, 900 terminal prVDe ties ana rentals
STORY FROM CHICAGO.
[Br TELEGRAPH TO THE TRIBUSE.l
CHICAGO, oct. PA story IS current here to-
night thar the purchase OF the Nickel Plate road has
been made against the interest Of
Nh. Vanderbilt. Mr. Vanderbilt, it is said Joined
Messrs Devereux and Burke and n syndicate of Eng
lIsh capitalists scar ago IN the purchase OF the
Cleveland, C0lumOus, Cincinnati an Indiana Rail
road Nh NanderDliu agreeing to make OF II a diva
dend- paying property. shortly afterward 81 Eng
lishmen ana Nessrs Devereux and Burke dis
covered that Mr. Vanderbilt had quietly solt
his interest. Tnis action, It Is alleged, aroused
the enemIty of Mr.. Vanderbilt formers
friends, Devereux and Burke and they have been
waiting tor aa opportunity to retallate. Iney con
VIuced the foreign owners OF the O., e., Z. anu l.
that by purchasing Nickel Plate they could create
an Indeprndent ysem and at the same tlme punish
MI. YanuerDllt by hostile competition.
KEoKUK. Iowa, Oct 27.-Jav Gould and party ar
rived in his city this alteraoon. In answer to an
Inoulry concerning Mr. Vandcrbfs securing the
control Of the Nickel Plate" Railroad, Mr. Hop
kIns SAID: We aIylsed that the report is well
fOuuded.'