New-York tribune., 1884-01-28
BUYING WILLARD STOCKS.
A sYNDICATEs LARGE PURCHASE.


adelphia had purchased on Saturday large block
of the stocks of the Northern Pacific Railroad
system from the Oregon and Transcontinental
Company, which controls them. The sale includes
10000 shares each of the Northern Pacific common
and preferred stock, and 10000 II 500 shares OF
Oregon Railway and Navigation stock. The prices
at which the stocks have been taken have not been
made public, but those which are mentioned
most frequently arc 35 for Northern Pacific
preferred and Is for the common, and
70 for Oregon Railway and Navigation.
1t Is known that these figures have been considered
in the negotiations leading to the sal but one OF
the members Of tho syndicate said yesterday that
the prices finally agreed on were considerably
higher.
The exact terms of the sale were not ascertained
yesterday The members of the syndicate declined
to state them and were reluctant to admit that the
transaction had been finished. Some of the officers
of the Northern Pacific Company said that the sale
had been made, but that they did not know
the precise terms of the agreement Ii was
acknowledged by all that the stocks had been
bought for investment by the syndicate and
therefore would be withdrawn from the market.
1t was also said that! the sale supplied the Oregon
and Transcontnental Company with all the money
which it needed to surnount the present difficulties
and go on with its business BY the sale ample
provision for the payment of the companys
liabilities for the next year made, and
the recent rumors of receivership
which have been circulated industriously since the
retirement of Henry Willard from the management
will be sllenced by it.
WHO ARE IN THE SYNDICATE.
The members Of the syndicate, so far as their
names have ben learned, are: Anthony j..
Drexel, of Philadelphia with whom are associated
C. b. Wright, and one or two other friends there's
Drexel, Morgan & Co., Cyrus w. Field Jay Gould,
Russell Sage of New-York, and some Others promi-
nently identified with the present management Of
the companies. 1t is understood that they have
made some tacit OF express, agreement among Them
selves that the stocks will not be offered for sale
for long time. 1t is limited that they have certain
privileges as other stock, but the nature Of this
part of the ag: cement Is carefully concealed The
sale does not affect the contrOi by the Oregon and
Transcontinental Company of the Northern PACIFIC
system, and no changes In the directories OF any or
the companies will be made at present in conse-
quence OF II.
MR.. GOULD RETICENT on THE SUBJECT.
Jay Gould said last night when he was asked
about the matter, that he was not at liberty to
speak about it.
a. left my Office early on Saturday and do not
know that anything has been done. The first I
heard of it was about noon on Saturday, when I
was asked if 1 would take an interest
in scheme TO raise some money for tho
Oregon aud Transcontnental Company. 1t seems
that some loans of the company had been called
and that considerable sum of money was to be
provided Immediately. After a conference with
of the friends Of the company agreed to fur
nish my part, and when l returned to the
Office sent my check for it
"The persons who called the loans were in
formed that the company would pay the money on
the return of the collateral securities but then the
lenders apparently did not want the money. They
certainly had no. returned the securities when
started for home. think that they will be invited
to take their securities tomorrow.
"You see, really know little about tho matter.
Whether sale was effected after left the Office
cannot say. Perhaps something will come out Of
the talk. The Oregon and Transcontinental Com
pany has been lifted ont of its difficulties at any
rate and the whole Northern Pacific trouble which
has been hanging over the market so long has been
removed. The cOmpanydid not need over 81 800, 900
at present and its debts in addition to that not
large They will all be taken of when they
nature
Russell Sage declared that it was impossible for
him to talk about the negotiations because be had
been pledged to keep them secret.
FICTITIOUS FOREIGN OFFER.
It was said by a friend of the conf
pany last night atrecenty offer for some co.
shares of the stock held by it had been made bya
broker who said that he acting for several prOm-
nent banking houses at Frankfort. He represented
that the German bankers wished to buy
the stocks for permanent investment The
officers of the company became suspicious
that the offer not made in good faith, and on
Friday they demanded from the broker the names
of the firms which he professed to represent. He
refused TO make them known aud the Oficerc of the
company at once declared the negotiations at an
end. Soon afterward they received notice that
certain loans must be paid on Saturday. " There
is dombt Of the purpose of this attempt"
the companys friend said, (which was simply
to secure some of the companys stock for
use in the market If it had succeeded there is no
telling what the result might have been. 1t was
bold trick but it did not succeed"
STATEMENT BY HORACE WHITE.
Horace White, a director of tho Oregon and
Company, confirmed the state
ments that the transaction had been concluded.
'Yes; it is true," he said, that a syndicate Of
cspitalists here and In Philadelphia has bought
10000 shares. as | understand it, of the
reasury stocks of the Oregon aud Trans
Company. The stock is to be
leld for investment and will not be thrown
IN the market. The block Is made
ip of 80, 900 shares each of Oregon Railway and
Northern Pacific preferred aud Northern
Pacific common stock. l do not know at what prices
he. sale was finally made; the figures first talked
,bout respectively seventy-five, thirty-ive
md fifteen. 1t may be possible that the sale was
Effected ut somewhat higher prices as did not have
me on Saturday TO see Mr.. Endicott about the
ietals He left for Boston last evening, TO be gone
intil next Tuesday. The transaction provides
or the immediate obligations of the Trans
continental Company. They amounted to
ess than $4,O00000. loan Of
bout 81, 100000 was called on Friday but tho
all was afterward withdrawn and the money was
,aid yesterday. All the loans call, believe.
xcept the So ,OO0, 900 which was negotiated some
ina a, nd which is not dne a vear I