The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1890-05-28
SALE OF CHlCAGO'S YARDS.
Soon to Be Transferred TO an
English Syndicate---Price,
$20,O00,000.
The Deal TO Be Closed When Western
Stockholders Give Their
Consent
Stanlsys Singing Reply TO Lord ssl
isburys Utterances---The
News In General.
CHrcAno. May n.

CHICAGO. May n.
When ID was announced, few months
ago, that an English syndicate was
eudeavoring to obtain controlling
interest In the Chicago Union stock
yards the entire live stock I'M
terests of the country OF the country were
intensely interested in the result Of the
negotiations nj that time In progress. As
In nearly all commercial transactions OF
considerable magnitude the atricteat Sc
crecy characterized the negotiations be-
tween the stockholders of the Union Stock
Yards and Transit company and the agents
OF British capital. Indeed, II was even de-
MED that any sale was either pending or IN
contemplation. Immt diately following Q
narration of the facts In the Times there
was o sharp telegraphic correspondence be-
tween the Boston owners OF stock in the
yards and the Englishmen. Western hold-a
ers OF stock became alarmed and brake
was temporarily put upon the transfer. Al
few days ago the matter was reopened and
fipal sale of the yards is now upon the
ere of cSnsummation.
Nathaniel Thayer, of Boston, aud tine
yandsrbilts, who hold the majority Of the
stock In the east, recently consented 10
part with their holdings for $50 cents ON
the dollar. Russell III. Monro, who has
been the agent OF many important deals
between English and American capitalists,
laid the offer before the City OF London
Contract corporation, by whom 4 was
accepted.
The capital stock or the Union Stock
Yards aud Transit company is SIS, 000.000.
AT the price on which this transaction IL
based the whole property would be worth
go, 500, 900. A half interest would there
fore amount TO s9,750, 900. but the pur-
chasers not only obtained the stock owned
by Mr.. Thayer and the Yanderhilts. hnt
that of few others who have consented TO-
Join the deal. Western owners of stock
do not care 20 sell at any reasonable figure.
John Sherman and Nelson Morris, two Of
the largest stockholders in Chicago, are
known 10 be averss TO sale at any price.
The exact extent of the capital stock
which may pass into the possession Of the
Epglishmen Is not ascertainable, but
whether II be much or little the effect on
the yards will not be appreciable. The
Union Stock yards belong 90 the west.
Their growth and present commercial i'm
portancs are due to Chicago and the west
ern men. They have always been under
the practical control of Chicago men, al
though the majority of the stock was
owned Ia the east. II win make little
difference whether the stock Is owned by
Nathaniel Thayer in Boston, Vanderbilt
in New York or any set OF Englishmen in
London.
Nelson Morris said last night: "Ths sale
has not yet been eonsummated, and hardly
will be, without my knowledge, bat the
figures are correct. The yards, with all
the railroad franchises and other appuT-
tenances, are one OF the most valuable
properties in America, and, while the price
mentioned is high, IL Is not 81 above the
actual value"
Il don't own any stock in the Stock
Yards company" said p. ID. Armour. but
/ think the facts OF the sale are now well
understood. don't care to talk about q
business matter In which have no inter
est, because that would be n4eddling in
other peoples business. understand the
purchase price of the stock has been
agreed upon, but that's all know about 1t.
The sale will be closed In few days il
the Western owners will consent to sell Of
the price which the eastern ones have
placed upon their stock. The Euglishmen
are ready 10 pay the money ~ soon as
they can secure options on enough stock
TO give them an easy majority on the
shares.