Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-01-30

SEATTLR, Jan. ~, 1884.
Tag LATEST RAIlReAD SENsATl0N.
New YoRK. January 28.-The Tribune
says: 1t was reported ON Sunday that
a syndicate of prominent capitalists of
New York and Philadelphia had pur-
chased on Saturday q large block of
stocks of the N rthern Pacific Railroad
system from the Oregon & Transconti-
mental Company, which controls them.
The sale includes $1,000 shares each of
Northern Pacific common and preferred
stock, and 10000 or Il. 500 shares Of Or
eeon Railway d Navigation stock. The
prices at which the stocks were taken
were not made public, but those mon
toned most frequently are s. for North
ern Pacific preferred, Is for common,
and 75 for Oregon Railway d NaviQa-
ton. Il il known that these figures
have been considered in negotiations
leading to this sale, but one of the
members of the syndicate said that the
prices finally agreed upon were consid
erably higher. The exact terms Of tho
sale are not ascertained. Members of
the syndicate declined to state them,
and were reluctant to admit that the
transaction had been finished. Some
| officers Of the Northern Pacific Com
pany said the sale had been made. but
they did not know the precise terms Of
tho agreement. IL was aos nowlsdged
by all that stocks had been bought for
an investment by the syndicate, and
therefore would be WITHDRAWN from the
| market.
Il is also said that the sale has sup
piled the Oregon and TranscOntinenta
Company with all the money needed to
surmount its present difficulties and 60
On with its business. BY the sale ample
provision for payment of the cOmpany's
liabilities for the next wear WAS maize,
and the rumOrs concerning a receiver-
ship which have been circulated indus
triously since the retirement of Willard
will be silenced. The members Of the
syndicate, SO far as their names can be
learned, are Anthony ]. Drexel OF
G. h. Wright and one or two other
friends there; Drexel, Morgan & Co..
Cyrus w. Field, Jay Gould AMI Russell
Sage Of New York. and others prOmin-
emily connected with the present man
aeement Of the companies. It is under
stood that they have made some tacit or
express agreement among themselves
that the stocks shall not he offered for
sale for long time. 1t is hinted they
have certain privileges a. to their stock, ,
but ths nature Of this pa Of the agree
ment il carefully concealed. The sale
does not affect the control by tho Or
eQOn and Transcontinenal Company 1T
the Northern Pacific system, and no
changes in the directories Of any of the
companies will be made at present IN
consequence of it.
jay Gould said. when asked about the
matter. that he was not at liberty TO
| speak about 1t. II left my Office early
on Saturd :" h. added, land do not
know that anything has been done. The
| first heard Of 1t was day or two ago.
when Was asked II would take IN in
terest in a scheme to raise some money
for the Oregon and TransoontinentaI
| Company. Is seems that Some loans OF
the company had been called for, and
that a considerable sum OF money VA
to be provided immediately. After q
| conference with some Of the friends OF
the company. agreed to furnish my
part, and when IYeturned TO my office
cent nay check fer it. Tnc persons Who
called the loans we're informed that the
company would pay the money on 70
turn of the collateral securities, but the
leaders apparently did not want money.
They certainly had not returned the
securities when I started for home. ]
think they will be invited to take theiI
securities tomorrow"
The Sen says: The pool In Villards
seems 10 have been formed under Jay
Gould's guidance. He and Rossel Sag
are reported 20 haye made large loar
to the Oregon and TrsnsOontinenta
Company on saturday evening. snt
have thus saved that ooucern from hna
COLLAPSE, its heavy indebtedness having
reached maturity. The amount Of tht
accommodation supplied II varIousIy
estimated at from q OO.OOO to $6.OO,
600. The correct 6gures will probably
! provo 81, 100000. The terms we're at
isfastosy to she loaners, whcss Interests
are, of course, dianetrioally opposed =
thoss Of the borrowers Gould ant
, Sage are too deeply interested IN main
J tanning prices At tho Stock EXCHANGE =
allow any big catastrophe, and they
consequently, we're compelied 10 ssreeol
. q helping hand TO the Oregon Ant
Transcontiusnta Company for the pm
pose Of sustaining the general markel
They unquestionably aoccssded IN shei
efforts, for the market closed quit
strung With substantial advance N al
|. the sx-villasdA