Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1889-05-18
WILLARD ON TOP.
lie Claims to Have Kept Control OF
d, n. COmpaBy.

lie Claims to Have Kept Control Oh
d. n. Company.
New York, May 1.-THE last hour of
busin ess on the New York Exchange to-
day marked the climax of one of the
most exciting chapters OF Wall-strees
history, and closed the fiercest fgkt that
has ever been known on the floor of the
Exchange. The prize for which the
battle was fought was the control OF the
Oregon Transcontinental Company, q
corporation with capital of $40,0 1000, 900,
and holding control of the most impor-
tant railways III the Pacific Northwest.
The control of the company is now held
by Henry Willard, and associated with
him are the magnates of the Standard
Oil Company, Baron D. Leichroder,
Bismarck's financial agent, Edward T..
Abbott, John Trevor, W. L. Colby, end
some of the largest bankers in the city.
This aggregation of capital, the enemies
of Willard worked against. The opposi-
ton included all the big insiders in the
Union Pacific Road, Charles Francis
Adams, Sidney Dillon, Fred. Ames,
Elijah Smith. and others equally as
prominent. Elijah Smith had charge of
the campaign to burst Willard, and pro-
posed to take his place as he did once
before, when Willard went down in the
crash following the driving Ct the golden
spike on the Northern Pacific Read.
For long time both sides were active
| in quietly accommodating stock, but it was
not until to-day, the last day on which
to register stock to vote at the election,
that the supreme effort was made.
In the Exchange all regular sales made
are not delivered until Monday, but
sales made of cash stock had to be deliv-
cred before 2:15 p. NJ. Out of fifty thou
sand shares of stock traded in to-day.
| $4,000 shares were cash stock, and the
priced mounted from $37 per share tc
$641s per share before the Exchange
closed. From forty to forty-five the
stock moved up one per cent. at
a time. Then it jumped five pei
cent. on a single transaction, and
after moving up one per cent. more
made jump of nine per cent. to sixty.
1t soon sold at 641s--the highest point
reached in six years. All the time trad
ing was marked by intense excitement
and the day will never be forgotten by
those who took part in the dealings
After the registry books closed, Willard
met Elijah Smith and said: 81 have
won, l have POL 900 shares locked up il
my boxes" AS the capital stock of thu
company is 100000 shares, this woull
give the Willard party 1000 share,
ajority, but Smith would not admi
that he was defeated, although he die
not claim the victory.
THE FIGHT IN THE COURTS.
New YORK, MAY 17.-Arguments OIL
tn Injunction suit which Elijah Smitl
aud Euw. B. Bell brought to restrain
Henry Willard and others from issuin
$40, 900, 900 Oregon and rrspscontinenta
Companies stock, and from pledgin,
$12, 100000 Oregon Railway and Naviga
ton Company's stock as security fo
dividends thereon. was continued befor
Judge Barrett in the Supreme Cour
; this afternoon. Counsel for defendant
read Wizards answer which was YER
voluminous, and went into the details i
the matter of the antecedents of the pres
emit litigation. After this the lawyers i
the case talked informally with eacl
other and to the court. An agreemen
was finally arrived at, and the order f.
Wizards examination was vacated, an
the injunction was virtually disposed c
in the came way, upon the stipulatio
that Willard and his associates should nc
try to issue any stock before the cleo
ton.