Savannah morning news. [volume] (Savannah) 1868-1887, 1886-05-31
MATTERS in WALL STREET..
Another Gigantic Railroad Scheme
Being Considered.

being OOhStueFcU.
NEW YORK, May 30.-Another new and
gigantic railroad scheme is shortly to be
contaminated. 1t appears that the New
York Central, by an agreement with the
Pennsylvania. who has her terminus in
Jersey City, is to build new line from
Bayonue, n. j., to the terminus of the
West Shore road at Weehawken. Then
the Hudson river tunnel is to be pushed
to completion, ana continued from it's
New York terminus, under the surface Of
the city, to the Grand Central depot, in
.EOrty-second street. An enormous sta
ton is to be erected in Jersey City, at
which trains from all parts OF the country
will receive and discharge passengers, so
that the entire passenger traffic to and
from New York VIII pass through Jersey
City. The land and titles necessary to
the project have been secured, and all
that is required for the actual commence
ment of the work is a cessation of the
present labor troubles.
A new Wall street firm has recently
been formed, and has taken the old Offices
of Alexander TAYLOR. 1t is composed
partly of New York and partly OF Chicago
people. Nat Jones, the Chicago grain
operator, is interested in it, and it is re-
ported that a conference was recently
held, at which Jones, Ream and Gamma
decided TO bull the stock market to the
greatest possible extent. Their efforts so
Tar nave been successful, but 1t remains
to be seen whether a few moderately rich
men can support the market in face of all
the bearish Influences now at work.
Armour is said to have hand in the deal,
TOO. But even with his assistance the
new pool will not be able to handle more
than two or three stocks. They have
until now worked principally st. Paul,
Northwest and Lake Shore. The general
list did not respond to the movement. but
of course remained steady under its in
! fiuence.
Probably the people of New York are
the most lOng-sufering and imposed upon
race on the face OF this globe. Ne sooner
have they got through being swindled by
Tweed and his gang than some one else
turns up to trouble them. New that the
| Broadway Surface railroad has been run
to earth we hear that the Croton aque-
duct extension is the next ''boOdle'' in
order. New Workers had as much water
as was needed until couple OF years ago,
when a party OF men in power thought
that something should be done to make
money. They stationed an agent at the
| reservoir, and every now and then the
water supply was cut off for the time
in order 20 create the impression that
there was scarcity of water. The con-
sequence was that $4,000, 900 is TO be ex-
! pended upon the new aqueduct, but those
who know say that, with the exception OF
the Panama canal, it will prove the most
expensive enterprise ever started. Once
| a Job OF this sort is begun in New York
| there seems to be no way OF putting a stop
| to further expenditure. The history of
| the capitol at Albany, the new law courts
in New York and the Brooklyn bridge
fully proved this. So New Workers can
g., I'll. i -
! aqueduct. This seems all the more likely,
as Gov. Hill, whose pretensions to follow
his predecessor, Grover Cleveland, 10 the
| White House are well known, has lately
! shown his hand in the appointments. An
appointment which is the subject of much
talk here just now is that of Mr.. OBrien,
the principal contractor on The aqueduct,
to be receiver of the Broadway railroad
one of the latest positions known. Mean
while the elevated roads seem disposed TO
crush the surface roads and have already
reduced the fare on Second and Ninth
avenues TO &C., and no doubt a similar re-
duction will soon be made on the others.
AS has already been pointed out in
these letters, the interference OF fanatics
and strikers with the betting in New
York is beginning to tell it's tale. Race
meetings are postponed or declared of,
an6 the unfortunate public starts for the
races only to find at the railroad depot that
some force nqjeHre will spoil it's days out
ing. Mr.. Withers, the head Of the Mon
mouth Park Association, has come out
with a manifesto stating that if the bet
ting is interfeTed with there he will close
the place, sell the grounds for what they
will fetch and throw thousands Of people
out of employment. This manifesto is all
the more striking, as it IS well known
that Nr. Withers, who is a very wealthy
man, owning several OF the East River
ferries, never bets, and merely runs mis-
horses for his pleasure RIGOIO