New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-18
vANDERBILT ON RAILROADS
rrSyrNe RuMoRs ABOUT THE CENTRAL.

isSup of bonds. Inc TuuOIs hdNO W."
tradcted by officers of the company, but only 10 Oe
.a'.aated soap afterward with still greater cont
ac,ce than before Recently IL has been asserted
,ba, the i.sne was 10 be $40, 900. 900 of i've per
conf debenture bonds. and that the bonds were
beinr printed The additions to the story on TIT
dav were that the American Bank Note OohPsua
tad actually delivered the bonds on the day oeioro
aud that some Of the directors OF the railro"o co
,apv had been summoned to Saratoga To consult
s,,b william n. Vanderbilt about the Issue.
sitting on tho piazza of the United states hotei
this morning. MI Nanuerph' sa'u w
correspondent
:, .rbssa stories are all bosh there IA not
s,,t If truth in them. They were startea
.,x of eight months ago. aud are no
more true now than they were theh'
tnt what In the use of my DENYING themi am
,irsd of denying stories about the Central h'eu
which any one Ia Wall street may eohcoct " Ho'hs
impo.sibe 90 make statement broad hhd genera
snoneh Ia prevent an Immediate repetition ot the
s,..,,' IA some other form Some ono n certain 10
0nd a flaw In the eoontradeton, and then the fnnofH
hegn over again. don't think 10 worth my while
a. he doing nothing but denying Wall street
tumors
cREpUIITY OF WALL STREET MEN
1.-THE crednlity of people in Wall Street is amaz-
ing Why, you can stand on the street corner "'
Wall and Broad SITS. and the more ridiculous inc
tosias Won start the more believers you will have.
People there do not appear to use their reason ouV
believe everything they hear. For instance, IL mas
been generally believed in the street that nave
sold my Lake Shore stock when i'll fact hold every
.bare that had three years ago | have not soIo
one share and hold 900 900 shares / consider Lake
shore one of the safest in vestmeuts in the country
The road has a line Co Pittsburg as well as 10 Dur
falo and under any circumstances is sure OF large
and profitable business. Well am the
largest stockholder in New-York Central ana
think should know If there was to be new Issue
of bonds. Such thing has not even oeen alIuueu
a. in the hoard But suppose there was to be new
issue what of Itf 1t isn't such strange thing ior
arailroad company to issue bonds that the rumor
,hat the Central was going to do it should make
sucb a stir II Is compliment TO the Central that
= vould have no difficulty in marketing the bonds
Cor annarentlv every one Is anxious to have few OF
them. One of the stories that has come to me Is
that was to take the whole issue. Well wouldn't
that prove that Vanderbilt considered the bonds
eoodP Being the largest st0ckholder, would DO
ANYTHING to injure the stockf On, people IN wall
Street will not common sense In looking at rail-
road matters. ~
There is a man in this house now who a llttle
vnle ago apparently lost his reason. He has been
astockholder of the Central for many years and
his wife also has a considerable amount
of stock in her own right. what dld
the man do but buy a lot of West Shore b0ndS' All
The business that the West Shore is doing, it steals
fl N the New-York Central and besides is doing 1t
nj an actual loss to itself. Suppose for minute
that il could secure enough business to cause re-
ductlon in the dividends Central stock to per
cent or even 4 per cent; what would West shore
bonds be worth when every dollars worth OF tranc
brnrs the company lossf There Is only one re- |
snt for the West ShOre-a foreclosure of the mort
gage and a sale to the highest bidder VINO would /
want to buy it Idon't know; some one perhaps /
might buy it who did not want 1t. 1t will take /
600 600 or 500 900 900 20 complete II after 1t
has been sold.
NOT BUYING RAILROADS JUST now.
mo. lam not buying railroads just now; am
through with that business. The truth Of the mat
Ter is there are too many railroads and that Is
all there il too it, The West Shore was bult as
Matchmaking scheme, just as the Nickel Plate was
but 10 will be a good many years before there VIII be
So much railroad building again. The schemes
have not all been highly successful 1t may not be
30 very long ther for the people Of this country
are irrepresslble you cannot keep them stlli ana
BY and by they will be building railroads again and
probably ID some places where they are not needed
We overdo everything and adyersty
too But all the time the people are working and
saving and their industry makes the hnal result.
What IA the use for one man, or a few men COM
liugu 10 attempt 10 sup lit CoulHt VI bhO nNoNh
market ? They may succeed for little while, per
hans. bat in the end they powerless. They |
could not prevent the recent depression, which had
10 run It's course they cannot stop the advance |
when prosperity returns. Look at the weather
two weeks more like this aud the crops will be out
a. danger. Large crops mean Large business for
tie railroads. But down in Wall Street to-day one
man probably has a dispatch from the west that
the weather is extremely favorable and another one
= ,Vtaa n IN noy IN
for the moment according to the hopes or fears Of
sp.,ulaiors who do not see the general results.
Il have no fears about the business
of the New-York Central. The company
does uot need any money at any rate, and does not
owe a bill 90 any which II cannot pay to-
morrow. Why shonld it want money then No.
there is not the slightest foundation for the rumors
which, suppose, must have been started by bear
speculators for effect the stock market. There
il one thing certain: the stockholders of the Cen
tral VIII get what the road earns, whether it is
much or little. The price of the stock is at such a
low point now that, If the earnings should not
be large the stockholders getting pretty good
rate Of interest for their money. l do not know
where they could get as much; they ought to be
well satisfied. And If had sold my stocks, az has
often been reported IN The street, should like to
know what | should do with nay money"
NO INTEREST IN WEST SHORE BONDS.
I" buy West Shore bonds" was suggested.
Nr. Vanderbilt laughed heartily, and then
sdded II saw il stated somewhere week
OF two ago that owned some twenty or twenty
FIVE millions of the bonds. Well. it is
Iaugfable. especially when tell you that as a
matter of fact never have owned single one of
the bonds. don't see how the bonds can be worth
much when the road is unable TO earn the interest
o. them. No, as said before, am not buying rail-
roads and l certainly have no wish TO buy the
West Shore. The road is there; let it stay there.
and let those run Il who think they can make it