New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-10-27
BEWARE OF IMITATORS.

hat probably uniting Of the n Ee% %,g I ,
York and New En- gland and boston ana hdint III IN
rad~ lie not sufficiently familiar witD 'ne u"ai
Philadelphia oct. 2G.-Nluch citation and excite
mcnt Wa, manifested among Reading iU4uMa' vny i
oday when the news came thI iF,I I ttn and
Maine Road. Vice President Young maze l9e l9'o"
ing official announcement: W. - ~, a. 1t'" sEI
Maine Railway. Al he SANE time. and, rs Incl
dent to the transactions, friend, 81 s I ,nue
pha ana Reading Railroad Company naVr 3u,;nn,f"
control ~ the New York and New England haroau.
Thee important railway connection, IN atu,no g th 10
Er,dinr Nv. that system its own channels 0i
accc,, 10 New En- Gland and the CanadaS' s,a,. ~,
pressed great satisfaction over the o Epand to
deal which open tn" iue market, oi N i''r,ion
the Reading roads and the Reading coal prouuouoh'
Wall street has been watching with expectnnt eyes
for developments in the direction Of the Reading anu
fine pcston and Maine. and the announcement made
Yesterday was not Therefore. wholly uniookeilor' hn
whether the stock Exchange did not appreciate tlle
significance # the deal" or disappointed II Is
certain that the stock market failed TO reject any 4"
yor,bc influence There enormous tfhn'ar uoi'
Ia Reading stock. 10000 shares changing hai"S' III
the morning IL wns reported from Boston that Pr"'i
dent Mcleod would Dc elected president OF the Boston
/ and Maine. and Reading stock rose from 57 10"
,. - to ~ l.. When the news was deiinrN an
nounc,d in the afternoon the prcc rcceded 10 % -
4 net cain for Tire day of only IA Psr cent. III"
course of New York ana New England stock WIS Ho'o
sensational The total transactions OF inc CAV "e''
llAl45 shares. The recent rise In the Stock mas p''"
based on nimor, OF a deal with the Reading ana ihe
Ho.t0n and Maine. Yesterday the report was cuFIVht
that was proposed exchange one share oil Boston
and Maine stock for three shares Of New fglAhd Inc
prcc OF Ncry ENGLAND from a = 10 ~ - me
announcement from Boston OF Mr. NcLe"iA ei''uon
almost parayzcd trading In New England stock. '>"'
4 word came Of any lease or guarantee OF "N"ehu'
\ ruth to sell Wa begun and the p1c" plunged """''
10 a "a although the closing price was - = h''
los, frin Tuesday " IS pr cent The dealings III
New England and Eeadins about half OF the '''
record II business AT the stock ENcl@hs"'
II was impossible to obtain from the Officers OF
director, o, IN. New ior, and New England ho'u
lu This city any Information respecting the a''s'Nl
ro.n.tt OF that road with The RcadingBoston ana
Main. deaf. Nj. McLeod according t" the hos.""
dispatch IS. said publicly that friends Of the Reading
had deemed II WISE In the Circumstances TO seqmr'
~, large Interest IN the New England. b"' INV
statements issued 70 the pre-s by the Reading a","o'
tie, IN Philadelphia assert that "co'Ih h'' O'e"
s.cur,.I rs soma II IN" Boston nnC Maine HlV''''"
M. suggestion is rpudiated OF any agreement
,,ddl,o other properties upon II "A result oi ul'
I,.,.o 9TH m. Reading Wall street wondered NJ
the close Yesterday where New-England WIS u !"
the d'a. .,s
Charles Parsons. president of the eIahu
Road rer.ltlty fused T. ~" reporters y'''I"'''
In response 20 a srrlc, OF inquiries sent 10 nn ~
Tribune reporter hc sent ont word that Ne GU "o'
ca,. 10 rnlk but That he had not resigned 'he p''
d.ac, ON Tuesday Mr. parson- stated einph'tc'N
r, h. head M Intent Of res nns. n" directors
-, ~, X,y England dec AIRED tArii Ignorance 81 any
,i ,.,t Involved int rold. \ we'll known director
aid last nlcht: Il sincerely Aclev" thh' MI f"'
SINS WIS Ignorant Of t." Transaction "'"''" "
Ke,ding and the Boston and Maine. y" prop''''-''
has been submitted to him or 10 the director" '-''"
IN. NeN. England There Is notnh1 10 SnON
N. control II the property been secured oS irie'
49, p.ae,nc The transfer books are
nov closed aad VII not reopen iof Ho'
ne a month. II is not Csiunn - ,I
Mr. P.r.oua would deem It hi, duty I" resign u',
ro.stdcncy simply because another interest "au
,,y,b, dn the open market majority OF the Sl"oN'
It j, probable that he would require not oh'y s1u.
factory assurance, that the control had been Doub"'
,,, ,,,, II VA, hot a. b. sold out Immediately ai'c'
q. change had been cfcc'e In u" management "o
might even deem Il If, dutv to rrqn' 'N>u'"",'
tina, the,ncw controlling interests hHl proP'''' 'o'
! ,in benefit ~ hi stockholders lln was co'V'u a.
d.ut to .ervr until next March. and there might o.
| ,,.r,,u. cond lions To be fulfilled before he |o"'
con.on, 20 o. nuS.t but work on a. he wa e'o''''
~ 4, until the time ot surrendcnng MS 't'''' 4" '"'
-tockholders annual meeting Inc am WV -.
LA that Mr. Parsus hid been able 70 Walnta'h IN
gross earnings offthe New England road az inc 'no
| figures a. "A year ago. In spite o. the loSs@s D" ~
Indicted b, some Of the movements OF We N'N nav
road Will" by reduc Ion IL opc,n'I,S ~ -, sbov
! Id ,oru ahic In the tat tir months ~ SUI" ,rn
satisfactory lnctcn,c IL net enrHlhF- ~ ," stock
pay oven per cent year on w. Det ,,rn,ngs
| = .l',.i, q. r. nit 10 would require TjvV.,V' nv
rr,.. earning and II was exceedingly u'uu iM " ''
r.,dug could furnish these results a., hv
The following .tt'cmcnt was l.'""' J" W. Ivy
| the Reading CompfuV: ,,,,, involved
| "The transaction complete IN i,D'p i.ni ~ M.
| the election II Mr. \. A. M,L".H' p", ,nw 70 ~.
,r.1iSriry o. tie Boson and Maine Railway. TINS
! rad. win T. branches. me ud"s wnr -. / n9o
| otherwise controlled embraces a SNh''m ,'r mar, %,
| milo. II now yi,inlk covers IN" DOUBT P'td1t,"
,,,n.r ~s,r Fucla,d from Boston to tIe Gamma"
frontiers. II IS one # h" most RN'niSn" t Trk and
| pr.lc road, In the country; ,' ,"t, Tho con.
- . 49,. ,,t.nds ~ 10, Beading. embrace 80"
! milc- md forms the conn~'t.h1 n NV" IN ,h, Now
Reading system In Penn wanna 'uu '.rl"l yrluc
| rn,l,nJ states, The financial and c1nhSclmi n'i ht
:, 81 n...,iio'ions Is very src1t. HE h'.h"I -,
,,'', from mi. even more than eyer Nh.lo" a.,
dependent linz. II ohtain' nr''n d LAX. cham
| 'T aud hn. direct connection b. the mo, uI
! n,rtnnt town, and husn"|- centre ~ wv ~, y,luc
| m effect Of This alliance WIN n",i,rs coal ir,n,
! =, I'm, rmhrlctr bat To- thr b''"'.p' .', ud.ti,n
r, h.crryer fr,u the coin"rcSt. the c"iS'hu',l,n
means most inporiar' extension !" l", u IM n
! which the Reading maiagru'U m rr ,t,, trans
r,,ti," ~ wheat "a manufactured Grh1 an" s gn
| rrnl mcrcland -. The adVhn'F !" .,',,i centre,
| r.1 ,rlv a. "A mannficturng hat c"lnu'I'l'u :, a.,
! ,tiu be- ncalculahc-With ~ inacpn",n' 'S S,nfh
,l.. bv fine way II Buffalo, 10 the "''I ~, 49," I,,'
lac fla. way Of rittsburg md hliimorr ,,i ia
| H.. fhr,ugh his new Reading aHa'''' Inv "n,1a.
W., dir.rt road 10 New England ana the 'i'u ~
ma, fIrI market II Nrw-ErglanN pass "" ,ii,..I
rontrrl Of the Reading management IL - iI oil
IN ~" "n" th,t The chang. win alike b" TO IN"
! Ls, interests Of the Investor aud con'uher'