The times. [volume] (Richmond, Va.) 1890-1903, 1891-12-12
RUMORS OF A TERMINAL DEAL
Caused by a Sudden Advance in Its SeCu-
rites In Wall Street
AFRAID OF SOUTHERN COTTON RISKS.
A Large Insurance Company Withdraw
From Combin n--Genersl Grants
Remaips-New York News.
INV YORK BUREAU. Richmond TIMES,
Ior IL 1901

Dec. IL. 1891
A sudden burst of activity in oil OF the
Richmond Terminal securities Immediately
followed the opening of the stock market to-
day. and al advance in all these securities
started number of reports to the effect that
some deal" had been contaminated by
which The condition of the company had
been greatly improved. The buying was
very good character.
In some quarters it was thought TO indicate
m attempt on the part OF conflicting interest
10 acquire the stock for control and bitter
contest was believed 70 be impending. The
officers of the company declared that so far
they knew there no change Ia the oon-
dtion of affairs.
WHAT Mr.. INMAS SAYS.
President 1nman said that the holders were
gradually learning that there was no reason
70 expect that an assessment would be levied,
and that the company's affairs were not in
any such shape as would be inferred from
various reports lie added that proposition
had been made 10 issue $50. 900 600 new stock,
making the capital 800 GOO. 600, 20 be taken
by parties interested in the property at about
II. This stock. If issued would be locked up
for long period. and with the strong men
who would be included among the buyers.
would practically give and allow the retention
of control
The proceeds Of such new stock would give
ample relief. as the Richmond Terminal Com
pany itself had no floating debt and the needs
OF the roads controlled by it had been greatly
exaggerated.
The proposition referred t.. however. is so
far only talk, and has not been formally con.
sidered, and may not be even formally dis
cussed. IL was believed that some of the pur-
chases was on the account Of General Thomas
EAST TENNESSEE BONDS SOLD.
The Fast Tennessee road yesterday sold to
Maitland, Phelps Co. 100000 new per
cent. equipment bonds.
The price ls not officially given but 10 is I'M
derstood to be 75 The proceeds Of the bonds
will be used to retire part of the floating debt
General Thomas. the vice president of the
company. says that the floating debt existed
only because the company was unwilling 10
sell u bonds IN the present condition of the
market. but that the matter would not be
looked at IN that way. SO 1t has now COM
menced paying this debt and he says that he
expects by January lst the company will not
have dollar OF floating debt outstanding.
MRS GRANT OBJECTS
The resolution of Senator Plumb 10 re-
move the body Of General Grant 10 Wash
ington has caused Mrs Grant great sorrow.
She says: IF Congress wants the body
moved suppose they will have it done and
can't help myself. ] am only a woman. 1
wish very much that my husbands remains
STAY where they are. / nm growing old and
cannot change my residence very readily
My children are near me- and | feel that /
must be near my husbands grave
WHY THEY WITHDREW
The Home Insurance Company has excited
considerable comment by withdrawing from
a combination of number of companies
having large Southern risks. The president
says OF the action This company has sim !
ply cancelled certain risks on the cotton
bearing roads in the South. There has been
such tremendous crop of cotton that it has |
been piled sky-high so that it would not be /
possible to reach much of it in case of fire
The railroads have been working their men
night and day in the effort TO transport the
cotton, and can you wonder if the engineer
falls asleep beside his machine Is it strange
If the help falls asleep and the cotton burns /
up The risks have increased fourfold and /
not the rate OF insurance. In ten months in /
some cases. the losses have doubled the pre-
miums.