New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-28
MANHATTAN STOCK GOES Up.

AOrYvr rIDD1NG rUR IT on THE STOCK EX-
CHANGE-THEORIEs ABOUT THE RISE
The stock Of Che Manhattan Elevated Railca1 Com
pany showed sharp rise Yesterday. huno'r VI
brokers bid actively for it, and sOmc who s0d carry IN
the day TO realize profits afterward bought again
Manhattan closed on Saturday at 143 II. 1t opened
Yesterday at l45. and went up 10 l4o 81. II onii
declined little late in the day and closed al l4' IL
Among the prominent buyers were Conner Co., D. a.
Well :. V. White. ". c. sheldon, Taylo" & co. hA-
ward sweet & Co. and Henry Clcws & Co. a. de cor
dova A. Nelson and Van Emburgh & Atte;bnry were
among those who Sold Later in the day Mr. de Cor
dova bought ard bid UP Manhattan some OF the oroR'
cs who bought had no opinion to express concerning
the cause OF the rise. They had orders ana Hli1o
them Others had theories upon which they bid. Inc
advance IS attributed to belief that the underground
rapid transit system will not be built snc thaf TN
Manhattan will retain monopoly oil the bu mess.
With this goes feeling OF confidence caused by the
putting o. J. Plerpont Morgan nj the head Of the com
mittee TO consider the extension Of the system. 1t Is
believed that there will be difficulty In getting priv
leges for extensions and Improvements and in raising
money to do the work Additional stock would prof
ably be issued and the present stockholders would
have privileges which would render their holdings
more valuable.
Another story Is that the Ncw-York AID Northern,
and the NewYo:k and New England railroads together
with the Reading age Interested In using the elevated
railroad for connection between The Reading and the
New England and wants It's facilities ircf aSei so that
RAPID transit rs may be mall
The New England also went up yesterday. on SIT
urday it closed AZ "a. and 1t opened yesterday at
the same price. 1t went up u 40 - and closed at
that price. New-EnsaHd Is said to be getting scarce
10000 OF tho 100000 share, being it is believed, he'd
BY Reading peolc, and great deal more by others
who buying for pIrp1.".
II was reported in wall Wan street Yesterday that
the Committee Extension Of the Board ~ directors
OF the Manhattan Il cvatrG Eliro1d Complny. which
consists OF !. Neiprni Morgan Russell sage, George
Ilss samuel Sloan and Robert VI. Gallaway hal held
q secret meeting az NJ. lY3 Broadway, aud had con
sldercd scheme 10 pay Tl,HJO,OOD Tor the PROPOSED
underground railroad franchise This was not true.
ErsscI sage said q thing. Mr. sage sud that
the regular weekly needing Of the Executive Committee
was held to consider routine business and alter mat
The Committee Expenditures had met with the
Executive Committee. The Committee on Extension
had held two mpctngs sine. IL appointed. and talked
over The plans 10 extend TIE system In dihc nj dircc
tons and increase It's carving capacity. The plans,
after they had been cOnSdc:cd -ad been referred TO
Colonel Hahn and the engineers 70 consider the feast
bllty OF some Of the proposed changes when the
fully, report would lie made to M.
Morgan, and then the committee would 90 to work In
earnest 10 carry ont the extension OF the road Mr.
SAGE declined e. say Z, detail what plans were BENG
the report that bid would be made for the under
ground franchise Give 1880 900 for itl' said he
.Wly we Won dnt give cents" Mr.. 5a;c thought
that the rise IN Manhattan stock was not the re-
suit OF any effort Of the company but was entirely que
10 feeling in Wall street. People he thought, were
beginning 10 sec that the underground system would
not 70 through. and believed In the elevated ROAD
besides that, the high price ~ wM(h Stock IN the
surface railways selling helped 10 advance Man
haitian, which in his opinion was better property.