New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-09
ACTIVITYlN READING STOCK
LIVELY TRADING AT THE EXCHANGE.
DISCUSSING THE PROSPECTS OF INTEREST-NO
MEETING OF THE DIRECTORs-MR-

DISCUSSING THE PROSPECTS OF 1NTERESI-NO
MEETING OF THE DIRECToRs-MR-
CoRBINs PROMISES
The Stock Exchange was the scene OF active trao-
Ing in the securities OF the Philadelphia anu hcauuH
Railroad Company yesterday. The prospect OF pay
ment Of interest on the first preferred income bonus
was the chief topic OF discussion the subject having
acquired prominence by rumors on TUESDAY 'ha' INC
directors had decided TO pay nothing on these income
issues About one third OF the total TRANSACTIONS Ill
stocks was contributed by the dealings IN Keaoihs'
which amounted TO more than 10000 shares Oh d
par vaue of $50 The average trader had Ioohcu
for decided weakness bat at the opening which was
marked bv great eXcucment sustaining orGefr "er'
executed by Isdor WOrmser personally to the extent
"a many thousands Of shares. The price rallied
sharply and while it did not hold full figures 10 INC
end the last quotation was actually shaoe higher
than on Tuesday night The weakness OF the Income
bonds however tended to sustain the general OPINION
in the Street that the interest vi 1'0 "00 ~
would he passed.
# had been expected that the Reading directors
yould meet in Philadelphia yesterday to take ueh'N
action II was understood after the close Vi '"'
Stock Exchange that adjournment hao DeeI' an
There seems 10 be doubt, hOWcNe'' a. ~
meeting now will be held g
1s,dor Wormser the head Of the house OF l. " =
wormser which has been prominently identlhen WIN
tae Reading Company since its REORGANIZATION u''Oe'
the auspices Of DreXel Morgan & Co. anu 'n'i' Wv
nections was asked by a Tribune reporter VII"
yard 10 the street reports. Mr.. Wormsef was nov
able to say positively whether meeting Oh ."c
directors had been held in Phlladelpha' n"'
he added Il have received information To-Day Ho"'
that city which forces to conclude that Mr.
Is prepared 10 violate the promises he maze 10 10 "
nav interest on the first incomes There Is do 80
Tor this About ten days ago, WHICH LoiuUli ~, :,
HrSt disturbed by unfavOrabe rumoin, wa t a.
H. Cnrhin and asked him what he !ntSiueu "a "i
IL assured ms that the interest womb pe Paau I
tn made rcDreSen tatOns To US that the conn
sorpad The full rate within a c0npdrduNcN ,l'''
mnvv, The interest earned, 100. III SPIV0o va
IN CT that the COMPANY had devoted ~ w.
totteTments including SloOOoOo eXpehueH III tl'c
pnohaso ~ fpur new cOllerics. NOW ~
besa assurances and promises II looks a. MI Oooi
Intended 10 break hi, pledges. .. ,,r,o- tb,.
NJ Worn,seT was reminded OF street runOr VA
o,nXci {, 60 had cXerted influence 10 WuuCc ~.
Rnrhn IN change his plans. Mr. Normser WpItu'
Thn DrexelS have nothing To do with the niIlsr.
nv co1bn Is the head OF the management ana 10 ''t
tbe stock and bond holders look for the proecuoh u
their interests" -.i.. ~ ,ho ;r.erest would
,ood 70 irrigation nv the bOndhodere 10 enforce ue
tights 20 share OF the net earnings MI, MoIinSe
wouid not reply specifically. :" me improvements
of me nropertv could have been provided or oI q,
The general mortgage bonds set apart for that
ne said II the interest l. not PAID We shdIl' Az
+hink the foreign stockholders VIII also, tahe WaV
etens we can TO secure management that VIII opedo
the Reading Road for its own benefit ana not lof "o
advantage Of the Jersey Central