The Daily Astorian. [volume] (Astoria, Or.) 1876-1883, 1883-09-25

r. & n. the Il. P. aad all the rest
of these companies, will soon be
thing of the past. 1t is thought
that Jay Gould has hand in the
present bear movement, but just
what advantage he could derive
from crushing Willard does not ap-
pear. Far more probable is the
supposition that the Central Paci-
fc railroad managers are the meu
who are behind the movement.
Certain it is they are the men who
are the most to be benefited by any
continued break in the prosperity
of the n. p. r. r. The road
which was completed on the Sth
inst, if not financially embar-
rassed, will in a years time be in
a position to dictate terms to the
G. P, if it is not already, and with
its routes by sea and land can en-
compass the latter line and force
it to pay tribute to its northern
competitor. All this is possible
under Wizards vigorous manage
ment. A less aggressive man
might suit some of the roads own
shareholders better, and If is by
no means improbable that Henry
Willard may be invited to step out
by the very men who would profit
most by Strengthening his hands
by continuance.
The effect of Wizards retire
ment would be disastrous to its
prosperity. The life and energy
that the road and its tributaries
possess have been infused by him
and after him would exist but in a
relative degree.
The Press New York special
correspondent, who is well "post-
ed' on the Northern Pacific, but
of strong feverish proclivities,
says the following Is the theory
put forth on the street concerning
the rumor of Gould Huntington
pool, to secure control of the Ore
gon Transcontinental: If it is
true that Gould has purchased any
large amount of Transcontinental
he has been enabled to do it
through the extravaganza of Viii
lard. The floating debt of the
Northern Pacific is variously esti-
mated from eight to fifteen mil
lions, for which Willard will soon
have to provide. In order to get
money for the purpose the Oregon
Transcontinental began selling
Northern Pacific stock last week.
1t was absorbed by some great
operator, who further sold the
market and depressed prices.
After the Oregon Transcontinental
company had marketed sufficient
stock, Wizards plan was to issue
q second mortgage debenture, or
income bond, which was to be
taken at par by the Oregon and
Transcontinental and paid for
with cash realized by the sale of
stock, and thus relieve Wizards
company of that much floating
debt. This was the arrangement
on Thursday night. 1t was be-
lieved the great deal in stocks
was over, and that a public an
nouncement Of the above facts
would put the securities of the
road at a much higher figure.
Yesterday morning, however,
large selling orders were found In
the market and continued all day,
and were attributed to Gould. 1t
will be remembered that Willard
caught Gould short of Pacific
nce,and would not settle with him.
1t is street tradition that Gould
never forgets a. man who treats
him in that way.
The evening papers say that
Willard stocks continue the leading
feature of the stock exchange, and
sales of immense blocks came out
all day. reports were current
that Drexel, Morgan & Co., who
had advanced many millions to the
company, had called in some of
their loans, and that the holders,
being unable to respond, the
stocks were sold at market. Ore
gon and Transcontinental sold
down from SO to SAT; Northern
Pacific from 3Ss to 344, and pre-
ferred from 6Ss to 534. Trans
actions in these stocks during the
week are said to have been the
/ L MIL