New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-16

Tuesday, oct. l0-p H.
The proposed plan for the reorganization oil toc
Atchison, Topeka and Santa Fe Railroad Company
is advertised in full in another column Inc pan
seems TO have been prepared with great care anu
with due regard to the equities of each ana every
interest. If anything, it is too favorable 10 'nc
stockholders The plan in brief is TO issue sl'o'
OOO 900 general per cent mortgage bonns anu
S8O.OO0,OOO 3 per cent income non-accuihula"N '
bonds. The S1O,0OO000 cash proposed 10 "e
realized from the stockholders by their suOScfip-
lions to 81 600 900 per cent b0ndS ana sI'@oV'
900 per cent incomes is proposed To- DC apPhe'
as follows: To retire equipment lease Warrants
81 44b.66 to pay floating debt arising from de-
ciencies of the current year, S3,554,34O; ana lor
expenditures on incomplete construction oil eAis'-
ing lines and for new equipment, so,oVO'oVV'
The terms Of exchange of old for new pohuS are
furnished in detail in the advertisement, hhd Ihe!
seem to be arranged with perfect fairness lo"uro
all classes according to their respective merits as
a part Of a general system. Probably there Will
be some dissatisfaction expressed by the various
interests. but there can be little question that the
prompt acceptance Of what is presented Will lnure
to the speedy benefit of each and every interest.
foreclosure of any part of this extended system
probably will be more detrimental to that particu-
tion Under the plan proposed the new company
will have remaining in its treasury s9,26o,2 3o OF
the new Ger cents, and 81, 756, $50 OF the income
5 per cents. The fixed charges of the new com
many will be 81, 352 800 per annum, against SILL
10 7,z66 now The net earnings of the COMPANY
for the eight months of the current year nave
been SO, 767120-in August sS4l 400 On ,tHe
ground that well-assured per cent Dond Is
better than bad per cent bond, inc pan shoulu
be acceptable 10 all interests
WHAT WAS DONE IN STOCKS.
The days stock speculation was irregular and
presented some curious features. The trust stOcKs'
Supar and Cotton Oil, did not occupy the prom
nent positions they lately have held in the market.
though Sugar was severely raided in the early
dealings down 10 70 IA from 80 Ia, last nlgh'
closing and Cotton Oil was sold on So 10 81 81
The general market opened firm, with Chesapeake
and OhiCs and the Big Four" common stock un-
usually active at advancing figures. The whole
market made some advances and was strong out
suddenly the brokers Of the bear clique began
nvely selling of Missouri Pacific, and sold 1t with
a confidence indicating that they held the Dag
from which to draw the stock for their DELIVERIES,
stock was rapidly sold down to Os l..
II is almost impossible to believe, that
any set of spectators would dare to fool with
Missouri Pacific stock the way 1t was SOFA 10,
day. without the consent OF Mr.: Gould Ana
vet if Mr. Gould is employing the bears to
sell his stock he is employing poor brokers.
Rock Island also was attacked in It's dulness, ana
sold off from 90 rs in the early hours 10 80 IA,
and il rallied only Ia, while Missouri Pacific
recovered ! per cent from its extreme decline
These operations were wet blankets on the general
market and were not without some effect on
prices generally. The boldncss of the selling
in itself created mystery, and occasloned some
foolish questions as to the financial necessities
of certain people. Yet in its inherent strength
the general market WAS little disturbed Prices
generally closed something of from yesterday 5
late figures. but the Chesapeake and Ohios closed
from IA to SIS per cent higher, and Big Four"
closed 70 per cent higher Atchson ex-riglhs
sold up 10 80 5-s but closed at 80 5;,S-l-s lover
than last evening. The rights sold at 1-4a3-s
per cent The market refuses to be demoralized
despite the full force Of speculative influences
working 10 that and antagOnistic 10 the natural
causes And the short interest accumulateS.
THE DAY IN THE BOND MARKET.
The Treasury purchased 1881 800 bonds: Four
per cents Sl3S.4O0 at 127, and 1-2 per cents,
sll3.1OO at 105 ga. At the Stock Exchange
there was no business done in Governments. ana
the quotations remain unchanged as follows: