New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-03
DIR. WEBB IN NEW-ENGLAND.
VANDERBILT CONTROL HOWEVER. DENIED.
AN ACCEPTANCE OF THE PRESIDENCY SAID TO BE
PURELY INDIVIDUAIs-NO TRAFFIC AR


RANGFMENT MADE or CONTEMPLATED.
Fer DAYS past Wall Street has been full Of hints
and whispers Of forthcoming important developments
I'm connection with the NewYort and New-Encand
Railroad The stock has teen active at the stock EN
change and prices have been hardening Yesterday
there was "A buOyant movement near the close 81 bus
ness hours on the Exchange. and at tho end the
prcc-at 50 3-i-showcd advance Of 3 per cent
After the close there was an inquiry on the
curb for the stock. and bids made as high ms
5s Another mystery In New England did not
explain the demand; the late excitement was due 10
reports that the control OF the property had passed
into the hands Of the Vanderbilts.
President Chaunooy NJ. Depew, OF the New-iork
Central denied thnt either that company or tho Van
derbt. had secured control OF tho Ncwfork aud View
England Austin Corin, president Of the latter road
refused to make any statement. II was learned how
ever on unidentified authority. that there have been
recent occurrences In connection with the New England
road which may lead 10 Interesting developments IL
NAV b. stated positively that DR.. ". Seward Webb
son law Of the late W. II. Vanderbilt. has consented
10 accept The presidency of the New York and New
England With equal posIivcncss It mny be taid tia,
Or. Wcbb's action Is quite independent Of N" Van
derblts and that Il does not represent desire or
Intention on their part ~ acquiring interest IN tho
New England rad. II Is strongly intimn''d that
should Dr. webb determine Ia identify himself with
TINT property the vaudcrbll's Will oricnly discaim
any connection with the matter.
since the Corbin Iprsons Prince party became prom
ncnt I'm NETWORK and New England last January ci
forts have been made at times to Induce the Van
dcrblt family 10 interest themselves In tho property
Ovcrturcs for a transfer ~ control said to have
been madc and strong attempt wns made 10 secure
n traffic alliance with the Ncw-York and Harlem
road by which the Now England rad could secure
frocr access a. this ciy. How far the negJirtlons
extended Dc learned. hut persons who ans wcl
ir formed .ay that the Central people rejected all
propositions. IL ralIcd by the managers Of tho
New York Central that no alliance could b. made with
the New En- gland without offending the NOR" powerful
friendly interests In tho New Ork New Haven and
Hartford and the Boston and Albany rrlhs The New
Haven interests believed 10 have been extremely
soicous regarding tho nctive work done by the new
element IN the New England In building up that
property this year. and strong appeals wcro made Ia
the New York Central 70 prevent any new alliance.
The Sew England people however. wcre able %
~" consent " Or. Webb Ia take the presidency
Of the road. II is 10 be presumed that Mr. Corbn
perfectly willing 70 retire from the presidency IN
order 10 bring about change which would popularity be
accepted as significant Of future deal IN connection
with the New England system. II Is not known that
DR.. Webb viii persist In allowing the Use Of his name
The annual election Of the New England rad Occnrs
next Tuesday. There Is ample time FOR DR.. Webb
10 withdraw from tho field. should lie fail DO 40, 1t
is declared sound authority tina, his oct will be
purely personal and VIII in commit tho Wander
bills the New York Central 10 alliance WITH the
New England road. Dr. Wcbbs railroad enterprises in
tho Adirondack regions, at the inception, were regarded
as attempt the part Of the New York Central -
deprss Delaware and Hudson stock for The purpose
OF acquiring control As matter Of fact, the Wander
blts in wac the sponsors OF the schemes which
were the individual projects Of Dr. Webb Ncvcrthc-
less tle Adirondack roads viii bc Of benefit the
traffic Of tie New lOrk Central. IL /, dlNcut 10
how Dr. Wcbb's connection with the New York and
Now FL gland would benefit the Central so long the
latter refuses 10 make any direct traffic alliance.
There aro many friends OF the NcwIork aud New
England who refuse to look upon DIR. Wcbb's step IA
matter Of Individual preference Thcy regard 1t "a, Il
significant recognition by capitalists Of the growing
importance Of the New England system In the railroads
Of the Eastern states. The OF Charlie, Par
sons into the New England board OF directors
ccptcd at the time II pledge Of development. Mr.
Parsons does possess the reputation OF a who
lends his name property for the sake Of cfccting
tITiI1 In the stock market. ON the contrary, he
brngs business devotion TO enterprise with which
he dcnuhc, himself which usually promises wei for
the property Ever since III" chhists ia tlo New
England management last january there have been
constant efforts to Improve the condition Of the rOad
and Che Issue Of $50 100000 bonds which j.
t.mpatcd /. de- sucd u pat the property IN shape
make Il dangerous rival Of the New Haven system
The control OF the POugihccp-c Bridge by tbs Read
Ing especially since the atcrs acquisition Of the jersey
Central and the Lehigh Valley, Is cNrctcd 10 make
the New England important factor IN the dittribn
ton Of coal through the Eastern Siatcs. should DR..
webb finally decide TO withdraw his candidacy for tho
presidency 81 the NcW England the friends Of tho
hitter property say that they would not De dOwnca,t.
II IS believed by some persons that IL Il only qncs
ton 81 the upcncss of time when the control OF the
New En- gland Will ~ TIE Vanderbilt Interests There
are Others wfo contend that the recent attempts
,rciir. an alliance between New England and New.
York Central only part Of stock speculation that
Will end In collapse.