New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-01-18
Mr. GOULD AND Mr.. SAGE TALK
GRATIFIED AT LACKAwANNA,s ACTION.

INQUIRIES ABOUT THE BREAK IN WABASH LEAD TO
a CHAT on GENERAL AFFAIRS.
There was sharp break in Wabash, st.
Louis and Pacific common In the stock market yesterday
The price declined from 6a to II sales OF $50 shares
ltcioSed at 1854. Runors Of a receivcrshp accompanied
the TALL but the truth OF them denied by officers OF
the company Russell Sage said last evening" ~ do not
know what caused the break; It was probably
duo to the bears they washed price down when there
didn't happen to be anyone by to support it, There Is
nothing whatever new about the property Why, the
bears did no more In Wabash than they have done In
Lake Shore down from 95 to 3d. and IT'S back to 9J
again. They did the thing in such stocks North
west and New-Yor1 Central When they want TO get
their stocks back they'll find there isn't any for them.
You know that evorythiDgs fixed up between the
Lackawanna and the pOol l guess there win be
climbing tomorrow. There is reason In the
the stock market now. There's West Shore bonds. /
wouldn't have anything to do with tine road last year;
thought 1t was wicked 10 build II, and told Horace
Porter and General WinslOw and Afr. Pullman hut
then the bonds selling way up: they are low,
and don't hesitate say that II buys them now
and lays them aside he viii make 33 13 per cent his
money he holds them for two years he will come out
all right Why think OF it The interest ia paid for six
months, and even If they have TO fund the
interest for one year, it's only five per cent
per cent for two years have bought bonds and locked
them mp for five years and got 81 for every 81; and
didn't sleep badly either during the five years There
danger when there IL something In property to buy
at these prices"
Jay Could President of the Wabash was asked regard
ing the break In that stock 81 know nothing about III
I have been very busy to-day about the trunk
line matter" he replied, adding with
genial smile: al suppose somebody attacked
the stock when there happened to be orders for at
the time. There II absolutely nothing new about the
company it, financial condition good and the property
Is intact. think great deal of Wabash" Mr. Gould
went re6ectiyely, DO you know that coal has been
found hirty1vo miles OF St. Louis and at Kansas
City, st. Joseph Des Mones and Danyiel The road
Is going to be great coal road. l don't think much
myself of the through business; it is the local
business that is the life OF a road. Why,
the Wabash Is carrying more coal than grain
and would do If IL had the necessary equipment
We are 500 cars short on or coal traffic The collateral
vide for the Heating debt and for equipment and other p
poses. We will get more equipment from that
Everything IS settled between the Lackawanna and
the trunk lines" Mr. Gould continued think that Is
great thing. think 1t will help 10 restore confidence
Capital Is very tmid There Is plenty OF
money but confidence IS needed. have
country is richer than ever was Take the Sl00OoOO0
wiped ont on West Shore stock; why II Is not quarter
pay out Ss0.000,0O0 that must be re-nvescd There
little floating stock If you look at the books OF great
tered 1t I'm walst. It il held ny people who don't
regard fluctuations there but who hold the stock for the
twice the amount of stock there is i'm Wallst.
The trouble IL that there enough securities to
absorb the surplus capital that's the money Is
such drug. have made up my mind to hold on 10 the
stocks whose value ! know. and / think have ! al
enough railroad experience know the value Of prop
erty better than outside people who have not got the
knowledge don't mind what the newspapers say about
me; they have got To talk about somebody. Their
ments often do me good; 1t is not an nnmixed evil.
~ think the Lackawanna settlement
ought to help the market Arbitration Is
perfectly fair. If the roads should eight,
that would have to be the end of IT, and they might
well come to II now and their revenue. With the
trunk line difficulties settled the other minor troubles
VIII be adjusted. The Union Pacific and Chicago, Bur
ngton and Quincy have pools at all their competitive
points except lincoln, aud that will be arranged. No,
there Is no pool formed on Utah business Mr. Clark with
held his ASSEM- because he thought there some
minor points which ought to be included In
the general agreement But everything Is
In train Of settlement No, / don't
think the Erie will cut rates The trunk line compact Il
very strong one and road would dare face its stock
holders with the responsibility Of Withdrawing from IT,
The Lackawanna is strong road for fight; that is the
reason why didn't want to any fighting. Another
thing think will help the market that IS Mr. IIarriss
selection president the Northern Pacific He il care
full conservative and thorough railroad man. am
confident he will be able to pull the property through