The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-09-26
GOULD WAS ASLEEP.
He Is Said 10 Have Lost Several
Millions.
One Of the Biggest Stock Operations Of
the Century.
Good Progress Has Been Made In Perfect
Ing Plan for Funding the Union
Pacific Floating Debt.
Special to THE MORNING CALI

NEW YORK, Sept. 25.-Union Pacific
Wall-st rumors are that the Gould party
is short. Another that Gould caught Keene
and following long fully 100000 shares and
is cunning" for them. The Evening
World says indications all point toward one
Of the biggest stock -io6bng operations of
the present generation. Missouri Pacific
and Union Pacific have been instruments in
the hands of the Gould clique. who have
been bearing the market the past two
months and have been caught mapping by
strong bull movement, and with every effort
to extricate themselves they have plunged
deeper. Gould's efforts to stem the tide
have cost him millions. The World also
says young George Gould's losses will be
among the millions. The World asserts
that he, in combination with the clique, put
out an enor nous line of shorts during Jay
Gould's recent journey West
Prominent Wall-street houses, all along
entitled with the movement in AtchiSOn,
are enthusiastically bullish and intimate
that the vcissitudes which appear to beset
other corpo rations in the Southwest have no
influence in their direction. There is good
authority for saying decided progress was
made yesterday in perfecting the plan for
funding the Union Pacific floating debt.
drop in the stock market had good deal to
do with it, Considerable fresh meney was
obtained through subscriptions to the new
notes, 80 there IS now left only about 81,
000.0O0 to be secured, either in cash or with
the assent OF creditors, TO complete the
plan. The new notes are rising in popular
favor.
dispatch from Boston says; Union
p acifc officials have received dispatches
from New York to the effect that Drexel,
Morgan Sc Co. have agreed to turn in their
81 100000, indorsed by Gould, Ames aud
basis as all other creditors. This has re-
moved the only hitch and makes the total
subscriptions of creditors S12, 100000. There
will be a meeting of creditors at Boston, and
it is believed if further extension Of the
plan is necessary it will be granted.
The dispatches from London state that
the Stock Exchange opened fairly, with the
entire list below Yesterdays closing there.
The most notable declines were in Union
Pacific, which went down 81 Wabash. st.
Louis and Pacific preferred ana debentureS,
each down "a; AIchison, down rs d; North
ern Pacific preferred, down "a; Denver and
Rio Grande preferred, and Missouri, Kan
sas and Texas, each down IL.
MARKETS STILL ACTIVE.
Kiernan's News Agency says: eve are
told a number of the largest stockholders
of the Union Pacific will ask the Wander
bills to assume control of their property,
since it is known the Grand Central people
have always expressed desire to be very
friendly to the Union Pacific"
The stock market still showed extreme
activity in a few leading stocks this morn
ing tile trading in Union Pacific, Missouri
teh Pau1 hai
nous, while the general list was compara-
lively quiet The first prices were very ir-
regularly changed from those of last eveu-
ing. but while the general list were only
slight fractions different, sugar was eXcep-
tional, with a loss of 2k per cent at So
The market, however, Immediately devel-
oped marked strength and large fractions
were gained all along the line, Missouri Pa
cifc moving with the remainder of the list.
A strong point in the list was Canada South
ern, which opened up q al 573l and rose to
COZ, afterward falling OFF over l. The mar
ket as throughout extremely feverisb and
irregular, but remained in the main strong,
The stock market maintained decidedly
active business after y o'clock, while prices
all along the line made further progress in
an upward direction. Union Pacific aud
NJ issouTi Pacific rose Ia and 12 per cent re-
spectivey from noon prices, touching 425s
and 90 respectively. The rest of the list
was content with smaller gains, and later,
when the two leaders lost most of their I'M
provement, the general list was held.
Prices again advanced toward 2 o'clock in
the afternoon. The market was queter
during the last hour than at any other time
of the day, but a firm to strong tone pre-
vailed. The close was fairly active and
firm at about the highest prices of the day.
A me citing of ;he Directors of the Mis-
souri, Pacific will be held Wednesday next,
and until then nothing definite can be said
regarding the dividend. Nothing definite
can be ascertained in regard to develop
mentS about the outcome OF efforts to eX-
tend the floating debt of the Union Pacific.
II is stated conference was held between
Jay Gould and Morgan, In which Gould
gave Morgan assurance that he would do
all in his power to make the plan success
full. Members of the Creditors Committee
say the arrangements were made to-day by
which the success of the Union Pacific plan
is assured.
Conferences were held between the
Creditors Committee and the Directors
of the Union Pacific Company during
the day, and this evening the Cred
itofs' Committee announced that by request
of the Directors, DreXel, Morgan q Co. will
tomorrow offer TO the public So, 800, 900 col
lateral extension notes at 92R. These
notes are part Of the issue authorized for the
purpose of extending the floating debt of the
company, and bear per cent interest. No
definite information can be obtained as to
whether the otfrr has been underwritten or
not, but members of the Creditors Commit
tee assert that the success of the plan is as
sured.
The Tribune will tomorrow say: 1t is
learned that Jay Gould has agreed to sub
scribe 100000 of new collateral trust
notes, besides accepting new notes for his
unfunded obligations against the company.
Russell Sage is also understood to have
agreed to subscribe for half million. In
return it is said startling loan to the
Union Pacific, indorsed by Could, Sydney
Dillon and Frederick L. Ames, made by
Drexel, Morgan & Co., would be modified
SO as to release indorsers from personal OBJ
legation and that the notes would be ex-
changed on the same basis as other floating
debts.
THE CRICKETERS.