Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-02-01

letter interests, whether they have been sold
or not. only know that let 60 of what
stock I had in the projected scheme. In
regard to the effect it would have, do not
think it could have a bad effect on Penn
sylvania stock"
"What other Pittsburgers were present at
the meeting?"
There were no other persons there from
Neither Mr.. Jones nor Mr.. Mckee were at
the meeting"
"What will be done by the other Pitts
burg stockholders who were not there and
who did not have a chance to sell their
stock?''
81 do not know what they will do, but
suppose they will be given an opportunity
to sell at the same figure offered Mr.. Hos
tetter and myself 1 would like to be ex-
cused from further answering of questions.
1 do not care at all to be quoted on the mat
ter"
"Do you think that other parties will take
hold of and build the line?"
81 do not see why they should. You see
there are very few railroads in this country
that are paying dividends. This was shown
by the meeting OF railroad Presidents in
New York few days ago. As the railroads
now running are not paying it is pretty
hard matter to interest capitalists enough to
get them to put their money in new enter
prise. Particularly is this the case in a
new road which would have to be running
for years before there would be sign of
earnings. OF course other people may pick
it up and build on the proposed route, but 1
do not know who they are in this city"
A heavy stakeholder who was seen after
supper, and who refused to be quoted in the
afternoon, said: SIT would be hard to predict
the ultimate result of the matter. The re-
ports in the paper are in the main correct.
At the meeting gentleman whom l did not
know, but who afterwards thought repre-
sented the Vanderbilt interests, got up and
made the announcement that he was ready
to offer 60 cents on the dollar for the stock
held by Pittsburg parties. saw that the
Vanderbilt people would not sign the new
agreement, and things looked decidedly
blue for the road.
THE DISPATCH CORRECT.
Gas the Vanderbilts had subscribed to one
third of the stock and let matters rest after
paving in SO per cent of it, it certainly did
look as if thev intended to do their share
toward building the road. When the offer
of 60 cents was made came to the con-
clusion that it was time to unload, and con-
seeuently I sold what had"
Well, what will Messrs. Jones, Fergu-
son, Mckee and Bagaley do; will they be
made the same offer or will they be frozen
out?''
81 don't know what they will be offered,
but think that if they get go cents thrown
up to them they will accept it. 1 do not
think they will stand on the order of accept
ing the offer, as several weeks ago I knew
a number of people in the city who held
South Penn stock that they would gladly
sell for 60 cents. knew that was as good a
figure as 1 could get and consequently let it
60"
"what will the Pittsburg stockholders
lose by the new deal?'
'They will lose more some time from now
if they do not sell as soon as possible. 1t is
not desirable stock to have, and not likely
to appreciate in value. Mr.. Bagaley may
not lose as much as the others as he had
only paid in 20 per cent of what he had.
1.-The Vanderbilts, owning one-third of the
total stock, which was worth S., 600, 900, had
paid in s1,9OO,OO0. They showed very
plainly that they would not pay in any
more"