New-York tribune., 1884-01-24
HEIVr DECLINE ~ NORTHERN PACIFIC.
RUMoBs ABOUT THE COMPANY AND ITS ALIEs-A
LETTER FROM PRESIDENT ENDIC0TT.

RUMOEs ABOUT THE COMPANY AND ITS ALIIEs-A
LETTER FROM PRESIDENT ENDIcoTT.
The heavy decline in the Northern acitic Railroad
and it's kindred stocks, in spite of an otherwise al
most universal improvement in prices attracted
much attention in Wall Street yesterday. Northern
Pacific common fell from 227s at the opening to
2Ol4; preferred from 4J5s to 4O4; Oregon RaIl-
way and Navigation from S634 to so and Oregon
and TranscOntincntal the company which con-
trols tle otncrs from 2l0s to l7ls At the same
time thp FIRST mortgage bonds of the Northern Pa
ci6c Railroad declined from l0l II to 9Jl2. All
these securities were unusually active the recorded
business in the stocks amountngto over 2OO,00O
shares and in the bonds to over Tl,6Oo,OOO. Ihe
closing prices were nearly the lowest >,
The decline was accompanied natuIaIly ny many
rumoTs in regard to the AFFAIRS OF the NOlIoih laci
fc system. Ii reported that the oregon ana
TrauScontnental Company was about 10 close up
its affairs, and, after marketing the securities IN
its treasury to make distribution among lts Stock
holders of It's assets IL said also that some OF e
holders of Northern Pacific securities IN ihladel'
phia had been forced to part with their holdings.
None of these or the other rumors which were Sct
atloat was confirmed By inquiry at the olces OF mo
companies William Endlcott. il, president OF tle
Oregon and Transcontinental Company, sent tho
following letter to the president OF the Stock EA'
change:
I'm view OF the numerous unformded Iumors put IN
circulation to depress the stocks In which the Oregon and
Transcoutnental Company Is interested deem ~ ny
duty 10 state that the company mas not dlnlsney ~ ~,
holdings the various stocks stated IN the report OF
the investigating committee.
The letter was not read before the Stock hx-
change but il was quickly put IN circulation M
Endicott said alterward that he had nothing Whal-
ever to add to what he had said in the letter o'F
persons interested in the company said that Tue iu
mOrs regarding il were ridiculous; that theIe s Mhs
no intention of putting the company into recehuo'
hands or in any other way closing ts aI ana,Iiis :
" Since the recent loan of $s,OO00OO was eleo''",
one of them said, " the company has no d1ots W
pressing il. 1t owes several millions IN addl'ioh '"
that but the debt is not troublesome.
The president of a prominent trust company do Io-
marked sales of long stock have caused ihG doi
cline today although the bears may have helped
if. No such decline could have been produced Dy
tLe hears alone. The curiosity now Is 10 Know
who is selling 1t is not the Oregon ana Trans,
continental Company. for Mr. Eh4lcGI, Eh4l 1911 20
to every one who knows MN " 'ouO''''''
that theory" >,-.,..... pao;ao P.;,ro,d WA,
abont tn lease tho Oregon Railway and Navigation
Company was denied al the Northern Pachc H,i,c;
Will not attempt to predict what may oc ,nti uo
an officer of the company sald, put no hVs".' nn
tions to that end have even been begun, V'b hat
and Trauscontinentaf Don't ask me about 'u"s is
company. know nothing whatever aoou NJ D'
,y;tb II hn. bprn somewhat expensive