The times. [volume] (Richmond, Va.) 1890-1903, 1891-07-29
TERMINAL SECURITIES RISE.
Prices Took an Upward Tendency TO
II IA.
MANHATTAN ATHLETIC CLUBS RETURN.
same, Cox SIN Missing-C armencita's Last
Woek--Aid Societies In Disuess'
Other New York News.
NTw YoRK BUREAU. RIoaMoND IINTs'

July Is. 1891.
Mr. John II. Inman. president Of the Rich
mond Terminal Company, was al his once To-
dav. lie says: There has been so much
saia abont Terminal these last few months
that not much is lief. 10 say. The interest on
the pcr cent. bonds will be paid in Septem-
Der There is no use trying 70 explain why
people get frightened and sell out.
They aid Yesterday. and sold out their Ter
,ninal ys. / myself bought $4,000 of them,
and am satisfied with my bargain. Any talk
about a reorganization Of the Terminal is
nonsense have never even heard the sub
ject brought up before the newspapers dis
covered il.
Ono Of the news agencies Yesterday sent
out a rumor that one of our directors had
failed I don't know who is meant and
will be much obliged II some one will inform
me-"
The Terminal securities were much stronger
this morning. The pressure TO sell 10 some
extent seemed 10 DO absent The price took
an upward instead of downward tendency,
running rapidly from 1919 at the opening 70,
III.
Mr.. John G.. Moore. a.directOr in the com,
pany. talked in similar VEN. ne Iehdnr . ta
That possibly some small holders might De
disposine Of their stock. but he did not know
who they were II is intimated that good
deal OF Richmond Terminal stock has been
picked up by insiders at the low hgures OF the
past few days. ~
The Posts financial review SAYS: 1t is per-
fectlv clear that simple bear manipulation
could not have broken the price Of the com
pany's collateral trust SIS 10 points III two oT
three days or depressed the price OF
East Tennessee first preferred stock
IL points between sales even when the
.,artad Intervening two months
or more. but the truth is these collateral
trust bonds are ut least open 10 suspicion.
On the estimates OF the last report 1t is farlya
subject of question whether the collateral
j. worth anything near the face S.,,t OF
lie worth w6ils for the Richmond Terminal
Company TO pay the interest on It's trust
bonds even when the collateral does not earn
il, in order 10 retain control of the hypOthe-
Gated securities But il is well TO inquire
what provision il has made for enduring such
a strain"
The Sun saws the Brice Thomas party has
very little direct interest in Richmond IerInl-
nal. but is active in some of the controlled
companies. Brice and Thomas however, are
still active factors in the control OF the East
Tennessee railroad. and that important hnkin
the vast Terminal system would cause dlsso-
luton of the whole system should IT be oper-
ated by hands unfriendly to the Terminal.
Wall street is asking whether Brice and
Thomas have had break with lnman and
Gould. The Terminal managers never
clnched their hold on this valuable property.
the most valuable Of the three systems they
operate, and now IS seems likely TO be taken
away from them. With the East Tennessee
working in close alliance with the Norfolk
and Western, tho Richmond Terminals
dream Of universal control IN the South
would be dispeled forever.
The control of the East Tennessee road Is
=. la.l.. Tv.al
pany, which owns but eS, 900 900 out of SILL
600 600 first preferred stock, but in the second
preferred and common shareholders. With
the East Tennessee III unfriendly hands, the
value of the Richmond Terminals holdings OF
first preferred stock which cost double It's
present market price. would DO greatly i'm
proved.
PRATERNAI SOCIETIES ~ DISTRESS.
Two more Of the rOb-your-neighbor frater-
nal societies are flying the signal Of distress.
The Royal Ark and the Friendly Aid Socle-
ties, which have been doing business IN Jersey
City, are said 10 be wrecked.
Both are institutions established III MaBsa-
chusetts, where half @ hundred of these
drOp-a- nIcke-in- the slot and you get-a-dOllar
schemes have been started, and the men who
have been caught viii not talk, as they fear
that any publicity will hasten the collapse and
destroy the faint hope they have that the or
ders may survive the present financial diff
culties and that they may set their money
back.
The Royal Ark was established about two
years ago, and did n rushing business among
credulous people those who believed that
plan had been found by which 800 could be
paid to the holder of certificates at the end Of
u year at q cost of $40, with the further pro-
viso that every member could at thu end IF
each third month take out new certificate.
and his actual income annually from the
order would be S400for an investment If $40.
IL was promised that there were 10 be no eI-
ira assessments outside Of the $40 year hut
before the scheme had been running long the
assessments Logan an kept coming 10 such an
extent that several members became alarmed
and refused to throw good money after bad
and have been suspended As a consequence,
il is said that legal action has been taken to
make the officers of the society render an ac-
counting.
The Fraternal Aid Society was little later
III entering the field and its founders decided
TO make it an order precisely the same as the
Royal Ark 10y doubling the assessments but
reducing the time for the certificates 10 ma
ture 10 SIX months. II was incorporated on
May 2, 1890. Attention was directed to tho
shaky condition of this order 10y member
whose certificate had not matured. but was
convinced that when il does he can frame II
rs q souvenir Of his folly.
The emissaries of the concern reached here
early IN the winter and began to form lodges
at once. The members were TO pay only one
assessment each month, not over two, and
the sum they would pay would in the eggrs-
gate not be over s4S when the certificate
would mature.
In March three assessments arrived. In
April they were increased 10 four. in MAY
four more arrived and the tax was increased
N June. as five assessments were called, and
this levy was duplicated this month.
To add TO the trouble is the fact that many
are holding matured certificates and are wait
ing patiently for the payment
WHOSE DRESS Is TIP
Mrs Annie Dissor, Of II Delaney street. was
walking along Houston street on Sunday
afternoon on her way TO church when she
met Mrs. Obsdorf. who lives at 100 Suffolk
street. Mrs. Disser had on black silk dress
with bead and lace trimmings. She does not
know Mrs. Obsdorf, and was very much sur
prised when that lady strobe up to her, called
her thief and demanded the return of her
dress. Mrs. Disser remarked that Mrs. Obs
dorf must be crazy, and attempted 10 pass on
but Mrs Obsdorf seized her by the arm and
called for the police Officer Downing took
both women 10 the station-house. Mrs Dis
ser sent for her husband who came and gave
bail for his wites appearance At court.
To Justice Diver Mrs. Obsdorf said that
hi - l.. L. u