New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-09-29
FINDS FOR UNION PACIFIC.
rpr REMINDING PLAN DECLARED OPERA
TIVE.
SUBSCRIPTIONS FOR THE EXTENSION NOTES Elk
crrp THE AMOUNT OBSERVATION-DISCLOSURES
plcIEIC,a POSITION.


c..,,.,-s, Committee of the Union Pacific Rail-
iio ras,rdav afternoon and declared the plan
rs ,.tndinr the floating debt operative. j. Picrpont
ioi .hs chairman OF the committee, announced
-. &c 600 600 had been subscribed to the three
- Collateral trust notes OF the company WHICH
80 offered TO the public for subscription on SaVir-
80 As the amount reached was S'oo,ooo IN excess
% t,s amount OF the extension notes originally OF
sarsd the subscription books were closed. A' ',r.
Morcans Office it was said yesterday Una. s'epS
s.,.,e,v he taken to carry out the details OF the
reminding plan -. ox,ord,rc tho
s...,nr sebt Of the Union Pacific was dueuns
- q, wall Street, though the fact TINT the enor's
'o"'o would be successful apparent on
e.-,.v In view OF what must have been tne iesuie
49, ,ns nIan failed, the official declaration tha' 'he
extension plan was operative was noaceaoie ieaV,e
=. .no d.y II was said that good proportion OF tno
VI s"o h.sr taken by private bankers. 1t was not
,,or.d that Russell Sage had subscribed to the new
-. notwithstanding the fact that ne mad peeh
1000, criticised in Wall Street and in the press Tor
a. s4titude that seemingly indiferent IL hot aoso
,ntsIv obstructive The committee having the new pan
q. nS.rre are j. Pierpont Morgan, John A stewart
rdvard King Frederick L. AmeS and Alexander e.
ON The amount needed by the company Is varousy
.,n.,ad II was first placed at S1o,O0O,OOO, but
.hs- soures have been named ranging from S15oooOoo
a. s1oOOOoo0. Yesterday 1t was reported that
1000 900 would cover the companys present needs
This will be made up by signatures to the Agreements
a. the amount of 1900 900 and by the public sub
sc;pon to the extension notes.
A member of the committee is quoted as saying
sTsis is tho grandest piece Of work accomplished IN
Wall Street for many years. The public has not
eaIl,ed the gravity OF the situation which would have
attended the failure Of this plan. 1t would have
cInsed the Barring failure, far the effect on the
market for our railroad securities in Europe is con-
eerned.n
Missouri Pacific stock yesterday was the centre OF
heavy transactions, and 1uctuated widely in price
II opened at 81 from Saturdays closing quotation
Of 65 1t rallied however, TO within Ia per cent OF
This price touching GA ga It's movements were not
generally felt in the market, because OF the uncer-
ainty as 10 their nature. 1T could not be determined
that the rally was not due TO stockobhng influences,
and the advance did not have anything like its normal
effect. Missouri Pacifcs place in the market now de-
ponds largely upon the meeting Of the directors which
has been called for to morrow, when the queSuon
of a dividend will be decided. 1t has been
limited that dividend Of IL per cent VIII be
out rom the list available for the investment
OF the funds Of charitable institutions which are
ouired 10 hold only dividend paying stock. Wall
Street paper, which has been recognized as Mr.. Gouos
perhaps after ALL the full quarterly dividend OF per
cent would be declared.
The gold movement 10 this country continues and
will increase La Bourgogne yesterday brought
amount of gold received "a, 400 600, and about ST.
600 900 is known 10 be on the way. OF yesterdays
receipts, S400 600 consigned to Heidelbach 1ckel
Co.; 100000 to Barring Magoun & Co.. $3.50, 900 to
Iszard Freres: 800, 900 to Sengman d Co., and
100000 to Hallgarten Il Co.