New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-10-28
READINGSfNE DEAL
SPECIFICATION AS TO IT'S EFFECT ON OTHER
ROADS
xFw YORK AND yEw-ENGLANDs FUTURE GIVES
RISE TO MUCH GossIP-HoLDERS OF
posroy AND MAIN STOCK TALK
cor-STFR \III \<CE
inv TELEGRAPH TO THE TRIBUNE.l


pos,or oct o7.-The gossip Of the street In resafu
. a., .,.,o f,te # the New-Iork and New'Enghhu
- an, 30 the new deal Is That Wch-hho""
,o ,rbo has b, en- largely interested In Ne" iorh anu
Nav-Fnc,and las OF late been Dofro"ihs "'oi' -.
poston and Maine stock, which Is quo'co :" 'o" ~
Notwithstanding the quoted vaiue oi "o 200
ho was able TO borrow 1T only It's par ''i"e, .OO
This shows that the street Is a NIUE wa - w." 80
. foo,,pc of uncertainty exists rs to what 'ie Nv"
,oa, ,aar moan 10 this magnificent property. 10
,aotod nc careful observers that the broker IT,
,rod IN was raising money on Boston ana 'l'"0
for the purpose Of investing IL In Nc"-io'A "",
England with the purpose OF securing 'o" IT.,
eventually turning 1t over to the keao"s "'"' -,
pres,dent Parsons a man thoroughly coeniA'n' 81
,h do, botUecn the Boston and Maine ana the h'a'
ing when asked concerning TIE Nc" H"e
t,ons with the allied road, said ,as {,
-, ,oo,,s ~ II the New-York and New Eheiahu -
notify uen bottled up and that the mystery ri'Ac'
will be laid upon the sheii. ,ou ,,s, how
Will This man declined to say specifically Just ho"
,bo road stands in connection with i's Dis ho'e""
ttt thu, there Is only Inference to be dra""'
and that Is that the Reading people, n'"o' ' a
cuarantee a fixed charge and the ai''"e,u' VI"
t,rrod etock have purchased controlling ih'c'c"'
In tbeNcw York and New England Railroad n, pr'or
NOT exceeding SO, 800 900. The interest v" III" -
~ nor cent Is less than 100000 per ann''Ih' VI
noorly $4,000 less than the Dividend OH 'hc
stock II does not require very expert ~,
a. decover that this is certainly the cheapest me''v
" .',, IN. Novv.York and New England Rali'
read: neither does 1t require phiioS'pnc, " ,na
oovsr that there are advantages in cohtrVih"e Wv
rroncrtv In this way and liabilities are aVo'ucu' ~
than by a lease guaranteeing hA'N c""'so'' ,,,a
dcnd on the preferred stock etc ANY o''o ' r ,h
with the situation recognizes the importance " Wv
Readings control of this road, that IL may ". .a
dsrobc and physical connection with the bos'on az"
Tho Ool for either the fOHu""
~ nrefcrrcd stockholders Is certainly ahy'm"s o"'
nromslnr under the circumstances
II is reportcd that Payson Tucker now genera '""
cor of the Maine Central Road. is TO be apP'in''"
General manager Of the poston and Maine
, broker saws: / do not fear decline In Ncw-hnS'
land but expect an advance why be''"'' ~
road viIl have 10 carry the irclgts from new LOT sp
,i,ne ON from the Reading 10 the Nain'' 1T" ''n"'
,,se,c,o,eotts which woud be the connecting l'hN'
s only a one.trnck Hoe, which not Oily u'in'S IL WI
great business, but the heavy srade7 ar "r'
II being capable Of all tie. would be r'l"'''" v, A."
~ a large incrcnse II the freight traffic was l''' '0
road l. also far from straight. win Inc n'n'"" IVA
coal likely 10 be felt soon, the Reading r'iu i s'n
o, move a large quantity. and In my opinion IL VIII
,,e over + - New York and New England ""'NS
which route it has been dIvertng It's 'a,"""""
freight for some time past II the Boston am h,'''
hcrins 70 double track the CcUtr Ma 'achue''S '"i'
or lt i, talked about ii will be significant bu' uhu
,ben I cxpcct the effect OF the deal Oh the No"'
England stocks will be a favorable one
THE Boston News Bureau SAYS '"cc ~,
,ss aat shares Of Boston and Maine common STOCK
and a ios Of the preferred stock study oil Tue
stock list raises a doubt II control OF the pol"rI
c,n have really passed to new hands, thNs"' VI
course Boston and Maine stock Is held more In bi 'NS
than is the stock Of any Other New-hhshhu 'V'''
According to the transfer books II WOMB t'h' ""''
seventy IL the lars% stockholders 81 me Bosom az"
- IL !
lowest number Of bolders. General Samucl y i''"
ropce colonc, Charlie, A. sinclair and Frank Jones re-
Gently held about 5000 shares Of s,och ror NIKE
preferred or " TS zoo ne sha On" Of Stock would have r.
"ired more than forty stockholders n ou,sue o. u
treS hndInr sn many AS 1000 shares Of stock each
and only ten people hold between oo' Az" i'''
SH's dispatch to "The Journal from Concord, y: H..
says: There is report heIc thht Wv t'omv con-
the concord and Montreal R:rSad are aa. ISroarh
sde asncd pas as Wa tofeshadowcd In dispatch from
this city last evening" S,y ana b eaI a ropny system but
thc New York New Haven and Hartford Railway ana
the Pennsylvania systems
The alliance announced between the Philadelphia
and Reading and the Boston and Main" rair"'dS was
the subject OF general comment In Wall street NJ
tho stock Exchange the activity In Reading stoch c"h
tinucd but after sharp early bulge IN plce 'n'i'
,ra. -, decline which wfp,d out the entire gain. nhe
oculo,i,n in New- York and New En- gland was spirited
I'm, ne, decline Of per cent represented the di"p
noIntment fct at no immediate promise Of guarantee
nm that property by either Of the newly allied com
panlcs
President Parsons. Of the New-iork and View Eng
,nd maintained his rcticence TO the position Of
,h coun,nv I'm view OF the assertion that IFS control
had hern purchased by friends 81 the Reading II Is
,,l,cy.d however that the views OF the director oil
New. England, quoted IN The Tribune yesterday re-
scctcd in a scmi-onical way Mr. Parsons's attitude.
lie was Ignorant OF the Reading deal; he has received
no proposition from the company and the question al
his rc,lcna;on # Is thought Will b. determined 10y
,be evidence Of COED faith furnished by the alleged
new owners Of the stock and by the merit OF any
scheme they may propose for the benefit OF The prop
.Tty.
Railroad men are not AL 20 enthusiastic as Mr..
Mcleod and his friends the new combination
william Bliss. president Of the Boston and Albany
said Yesterday that he did not any great advantage
TO either company In the alliance OF the Reading ana
the Boston and Maine. lie could not see that there
would be developed any business that would not
naturally take the same channels as before. The con
troll Of the New England road by Reading might hurt
the Prnns Y, ania. which now exchanges traffic with
the New England At Hartford by WAY Of the New York.
New Haven and Hartford Mr.. Bliss said that the
deal would In no wise affect the Boston and Albany.
The friends OF the Reading. however. are basing
great hopes upon the combination and limiting at new
developments. President Mcleod In the city
Yesterday attend the meeting Of coal agents but he
said that he had nothing TO add TO his published inter
views. One Of the news agencies however. issued
the following atcmcnt and the high official" quoted
Is understood to be MI. Mcleod
a high official Of the Reading company. who Is
In this city today. informs us that future develop
ment In connection with the alliance between the
Reading and Boston and Maine companies Will sur
prise the financial community. Al present the public
does not appear 10 anywhere near realizing the
magnitude Of the proposed operations. II Is true that
the Reading has secured absolute control OF the New
England but there u.s. at present, no idea OF making
an exchange Of Boston and Maine for New. England
stock 1t must also BE- understood that In shape.
whatever, does the Reading assume any obligations
with eiihcr Of the twO,allad cnmInnila.