Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-10-28
n[CKBL-PLATR NABbBD.
HOW THE NICKEL-PLATE SALE Is
REGARDED AMONG FINANCLERS.


ID oubt as to Whose Hands 1t has Fallen
into-Some Think Vanderbilt is the
Gobbler and Others Accuse Gou d.
The Iowa.Pool ARRANGEMENTS Excifin.
Interest-New Schedule for Colorado
Freights.
New YORK, Oct 27.-J. H. Devereaux,
president of the Cleveland, Columbus,
Cincinnati g. Indianapolis Railway COM
pany, and Judge Stevenson Burke, vice
president of the Columbus, Hooking val
ley & Toledo railways,as representatives Of
the syndicate that is interested in both
roads. have acquired control of the New
York. Chicago & st. Louis railway, more
famiiiarly known as the nickel Plate
The capitalists they represent are not
known. The Tribune says: In the opin-
ion of many the purchase of the Nickel
Plate line will be regarded as removing it
from the list of active rivals to the Van
derbilt railroads. Devereuax, however, has
been prominently connected heretofore
with the Erie railway interest both in the
East and West, and he was receiver of the
old Atlantic & Great Western. which is an
adjunct of Jewett's road.
CHICAGO, Oct. PC. R. Cummings,
president of the New York, Chicago & St.
Louis railroad (Nickel Plate) is strong in
the belief that Vanderbilt has not bought
any stock in the road, and says he thinks
yesterdays purchase was made by parties
who control the Cleveland, Columbus, Gin
ci G.
mings did not know exactly how much
stock had been .sold, but knew that the
controlling interest was disposed of
yesterday.
CLEVELAND, Oct. 27-President Dever-
eaux, of the Bee Line, was asked to-day as
to the truth of the report as to the sale of
the New York Central IL st. Louis railway.
best known as the Nickel Plate. He said
he and Judge Burke, of this city, bought a
controlling interest in the road for syndi-
cate paying II for common stock
and 81 for preferred. Further than this
he is not at liberty to speak at present.
He says the information for the public is
to come from New York if given at all.
He said other developments are in pro-
gress not yet understood, which will prob
ably mature within a month, and
that when everything is made known
he thinks everybody will be satisfied with
the changes. Judge Burke, who is vice
president Of the Bee Line and also of an
other road supposed to be interested, is
expected home tomorrow night. Infor-
nation from q trustworthy source is to
the effect that when Jay Gould passed
through the city last Sunday he had a con-
ference with Judge Burke, who is said to
have confidential relations with him. This
circumstance leads a few who knew of it
to believe the Nickel Plate has been pur-
chased in Gould's interest. On the other
hand the Cleveland Herald which has been
in measure the organ of the Nickel Plate,
one of the proprietors being prominent
official of the road, editionally refers
to Vanderbilt Of the purchaser.
Nav YORK, Oct. 27,-Ths Evening Posts
financial article says: ''The transfer of the
controlling interest in the New York, Chi
cago d st. Louis railway continues to be
discussed in Wall street. 1t appears that
the nominal purchasers were j. H. Dever-
eaux, president of the Cleveland. Column
bus, Cincinnati q Indianapolis railroad, the
controlling interest in which company be-
longs to VIM. Il. Vanderbilt and Judge
Stephenson Burke, who is vice president
OF the Columbus, Hooking Valley d Toledo
Railroad company and director in several
of the Vanderbilt companies. The real
purchasers are Vanderbilt and the con
t:olling owners of the Hooking Valley, who
are friends of Vanderbilt, while according
to information we are bound to regard as
trustworthy, these are facts
as to the real purchasers. 1t is very likely
that the affair has been SO managed that
Vanderbilt speaking in a literal way,
says he was not the purchaser. The
main advantage of this purchase to Van
derbilt is that he and his friends now con-
troll a road which might have given serious
trouble to his entire system of roads from
New York to Chicago. The effect of the
transaction on the stock exchange was to
cause decided change in its tone, and in
that it clears up the speculative situation.
The change may become even more
marked"
The Mail anu Express says: 'The
street is disposed to place the latest deal
in New York Central & st. Louis to the
Vanderbilt account, whether he will have it
SO or not. The decker was opened through
Devereaux, of the Cleveland, Cincinnati
bilt uses from Cleveland to the Ohio river.
The Seney people profess not to know to
whom they sold their shares, or for whase
account or in whose interest. Gen. Dew
ereaux was the only person that was met
and through whom they dealt, and whether
he acted merely as an agent or chief can
not be determined. So the street holds
Vanderbilt responsible for the mystery.
Gould offered L. for common and 35 for
preferred about two weeks ago, but the
Seney people were no. disposed to accept.
He has since had his eye on the property
and one of his motives 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. The strength in Vanderbilt shares,
principally in Lake Shore, Michigan Cen
trail and Canada Southern, has given fur
ther credsnce to the supposition that Van
derbilt had acquired the control Of the new
road
KEokUK, To-, Oct 27.-Gould and party
were here this afternoon. In answer to an
inquiry concerning Vanderbilt securing
control of the Nickel Plate, Mr.. Hopkins
said we are advised that the report is well
founded.
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