New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-14
1.oA1xn rnInL, or rnILAnL.rnIA sL--Ea-
ITEM, OF INTEREST.

Thursday. March l3-p. III.
II turns ont that the surprise developed AT YES
terday's election of directors Of the Louisville,
New Albany and Chicago was not the result 81
any deal or change OF ownership Of stock. il
was eimply the act Of stockholders who. after
giving their proxies 10 tie old board. quietly got
together and concluded that change OF manage
mcnt was desirable for their permanent interest
The method employed prevented any contest Tor
the election and any furry IN the STOCK market
so when the day Of the election came the old man
ayers suddenly discovered that the proxies which
they held had been suspended by ones Of hier
date We are told that the company. which
heretofore has held In The middle district a post
ton something like that OF the Chicago, Hnrin1-
ton and Northern in the Northwest, hereafter VIII
bc run upon business principles. and Will work ~
harmony with it's connect lon, and IT'S competitors
Il this proves be- true not only the holders Of the
securities Of lie Louisville. New-Albany and CHI
caeo Will bc benefited, but also all The othc. com
pauirs in the same district. notably the Big
-Four
OF thiriv-scvon railroads which have reported
their gross earnings for the first week 81 March,
thirty have reported gains; tie aggregate This
year is S2,j2i, 500, against Se,27O.sI5 for the
week o. Is5o-a gain Of S.53,755, or over 10 per
cent Tie seven companies giving losses report
an aggregate Of S6s9,0oO. against S72l ,3i6 for
the week of last year-a loss of $3l ,3G6, or little
over per cent
H. will be- remembered that some ten days ago
it was reported that lawyer vs. the name Of
T. ~ Charlton, of Chicago, began a suit IN
equity for the appointment Of receiver Of
the Chicago Gas Trust Ic,itionAus that the affairs
of the company be wound up and ts property sold.
This was done under the assumption Of a stock
holders rights. Since the suit was begun the
company have been diligently searching their
stock cdecrs 10 discover how much stock Mr. !.
NJ Charlton held The search has been in vain.
But to-day there were ten shares Of stock Of the
Chicago Gas Trust transferred to the name ol
T. NJ Charlton. Where? Not at the Office III
Chicago where the lawyer lives, bnt al the New
York transfer ofice-thc Central Trust. We are
sorry that cannot print the name OF the New
York broker who made the transfer, because II
would tell who is doing all the work 60 deprcss
that stock We can guess but that is not evidence.
Now that Mr.. Charlton has " been qualified as
stakeholder, ten days after be began proceedings,
10 continue his standing In court II seems TO us
that the other holders OF S25 900, 900 should
frcmblc before the threats Of this stakeholder, by
the grace of his employers OF 81 900. Somewhere
there said III ancient times, something dis
paraQing Of the bird that fourd its own nest
That author should come back 10 us and
say something Of the stakeholder who by
legal proceedings seeks TO ruin his own
interest. Inc Hcld IS u jdTg" one, anu ~ Hbgh'
tax his brains as il does those of modern writers.
THE STOCK MARKET
But Of such things is the stock market of the
day made up. We speak of is speculative char
actcr and not of that large invcstncn; interest
which now more than ever before. Is removed
from Wall Street talk. Wall Street news and
Wall Street ideas To-days stock market WAS
only another development Of ITS narTowncss
With all tie news favorable 70 a boom. brcause
the absorption Of the Burlington and Northern
By the Burlington and Quincy was thing TINT
removes all the dangers of thc Western situation
such rs they wcrc-and they never were 50 bad rs
approximations speculative response
except such the " bears" gave. There was not
"a speculative bull in the market 10 Z kc advantage
Of the position and drive the bears into
covering OF the largcst short" interest
that ever existed in the stock market
IL simple folly 10 suppose that the " bears y
were going to rush In to recoup their contracts
this morning. unless they were led 10 il by halter
around their necls. There were neither brains
nor courage among speculative bulls 10 strand
the rope and place IL in position. After the exc
cution Of early orders at advancing prices. how
ever. the market sngged back into dulncss and the
old methods of buying and selling on matched or
ders at declining fractions were rcsortcd to. The