New-York tribune., 1885-09-23
TUESDAY, Sept 22-P. N.

Y,
Atany other than one like the present wnen 'no
onanc,al conscience has become oalonsed py al Pe'o
:, ,d,. money and n faith been created In SuIn
annke power of large bank accounts ana oanS orsoS
,be publication Of the answer OF the NeW-iorK |h'oaso
and at Louis Railroad Company In the foreclosure e"i'
~ the first mortgage bondholders would have eeen
nr that would have shaken the whole fabric OF rail-
uav credit The plea is that the company Is O
consolidation of several companies e2tenu
ing through and existing under charters
OF the States ofNewYork, Pennsylvania, ohio' Indiana
and Illinois, and that consolidation is iega py tne
tal exstence and that the bonds Issued by are null
aud void. No supposes that the pies IS enereu o
sucb settlement as conflicting interest may choose to
Offer But the plea opens wide neld OF oS
q company which is offering lts second cons1llaaMteo M
bonds market the majority Of the o1e ii 5sa
belongs to the Lake Shore and Michigan gan
sSstaSFa sT.sST of the R9y Chicago and St.
pany the representatives or tne I,aks ohoIe t
pany and the led In tho suit the answer Vi
iIe lake shore Company. The Lake Shore and Michi
gan Southern Company Ia the cOnsonuatUh ol Siab
for many years maintained separate organizations ana
were operated distinct aud individual companies %
The Lake shore and Michigan southern Railroad COM
nany 900 900 of its first and sec
bonds IL s pfa gsS what
legal status have its Of consolidated oo9Gs
Ts was the sensation of the day. but for reasons nrs
stated il was regarded simply smart trick aud per-
sons not directly interested were amused MOI
The day's STOCK speculation ueNelopeu
sistent with yesterday market as given IN TINS conmh
Jt was dull day One hundred and sixty thousand aH0
one hundred and nnety-elght shares nIIed the olIi
against 25OSSl shares yesterday. Eary prices MSLe
some lower and the later and closing figures generally
show some gains upon last evening. Lake shore was
the pivotal for the whole market, ana ater ue
elining 50 to 70ls 1t shows fual gain OF az ~ o.
After board hours sales made at III " ana that
fgure was bid IN the Street. AS was
eXpected. nothing but harmony e1lsteu ~
the meeting Of trunk line presidents ana Q, SOP
was thrown 10 expectations the shape or an ouer
advance rates westbound freghts TO the Dass OF o
cents for rst-cass The present schedule is 40 cents
and the actual about 25 80 cents, at when lower rates
cotracts for the bulk OF the business for the remainder
of The wear are existence The presidents Wisely
decided 10 pass buncombe resolutions cOhcerhlns
rates on eastbOund freights, "because the aKeS anu
canals are still open and with the present nght
tbev can make the rates." but they earnestly ADVISE
tber Western connections TO adhere 10 the schedule OF
oO cents for grain" This done they adlOurncd u
Tbursday october 1. Chicago reported rates nrh
tSo ~ rates are or l5 cents concerns
onIv the bondholders OF the companies The stock
Soiders interest l7a cents Chicago also gave
ma q hatch of Mr. Armours sayings Mr. Armour mas
beeu known TO NewYoTk for several years as success
fnl grain and provisions ana II Is only
ehariiabe that he IL not responsible IOr uch
M what putinto his mouth about stook specuiaoh D
the reporters The market closed dull ana Irregular.
Government bonds dun and barely steady wlth
fhe bids for digs OF ls cent Ihe mas Tor the
currency 6s generally were lower Annexed are Vhe
closing quotations: