New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-18
CO1L QUESTIONS IND THE EXCHANGES
PRESIDENT MAXWELL OF JERSEY CENTRAL
COURTS An INVFtTIGATIoN OF TIE
RIG nj, Al.

rho nov. that n committee OF the NewJersey Iegs-
Iotnro rouh undertake an Investigation of tho Read
ing'S lease and that the Acknowledgement OF rem
svlvania had requested by Governor InttSoh 10
consider the matter. caused some di'qnet IN wall
sr,o, Yesterday Selling tecame general in the stock
market especially In the coal shares, ana prices "e
cllned with number Of stocks scoring net losses OF
,5r cent and over No unusual excitement accomPan'
ied the decline and many broker, described II as
natural rnction The bankers who were interested IN
the Reading deal" not alarmed at the prospect
o investigations icireratng their belief that It had BEEN
completed on perfectly legal llne, and that 1t was
benefit 10 the public. J. pierpont Morgan declined TO
speak for publication. J. Rogers Maxwell psueh. Vi
the Central OF NewJcrscy and vcepresdent of the Port
Dendlnr Conlpanv which is the corporation used 10 exc
cnto the Reading lease OF the jersey Central said: "
shall welcome any investigation. The Leslsn'ure
tnny come and examine the contracts, the books ana
r,cor,s. Il will lc found that everything Is oRar '"u
clean and perfectly legal
some additional facts regarding the Readings Ease
nrc coming Z, nclt. The most important. probably
+ tna the rayments of the rental % jersey Cchti"'
ar, 10 be made monthly 1t will be seen that the
latter road closely protects It's Interests. ana VIII hol
the Reading sharply 10 its obligations. Mr NaN"ei
see, ro significance In t for the rcison mat h' Dc
l.vc. that the leases are mutually beneficial and that
,hcro l. no question Of the Readings earning the rental
,lsc Loth companos Will share In the benefits ~ the
Growth Of traffic. OF interest ID jersey Central ;
stockholders Is the fact that the c)mpanys assets ana
nil real estate not needed for the operation of the riil
rold arc excluded from the lease. The income from
,lt. .Neuptcd property j. estimated To be equivalent
to > per cent on the c0mpanys s'ocA, winch VIII uc
I'm addition to the per cent gnarns OF to kcadhS'
The Jersey Central also receives the money pali by
IN. Lclish Valley for the use Of the formers Terry
house and ferry across the North River As early aS
uo-,lc changes Will be made In IN" schedules oI Ue
Jersey Central ard the Lehigh Valley by when muon
OF the present wnStcful competition will be ended
one ~ the rrmors In Wall street yesterday was 10
the effect that a plan on foot 4 double the cap
ita,ation Of the Delaware. Lackawanna ana western
rallroad This project has been talked about III a
rouoIol way ever since the excitement over the 'o'
deal bcgan samuel sloan, president OF the company
said la, night that there truth in the ruihor
lie also declared that such step rs was suggested
would be Illegal.
Part Of the depression I'm the stock market yeN'er'
doy WAS caused by reports that gold had been engaged
f., cxpo,. bv Saturdays transatlantic steamers; In
ouiric> among pUmncnt dealers IN iorrlEh cNCH'nS,
,licIted the statement that no suoh ehEnretnls 'u
lecu made. II is admitted, however. that Uc con
di.ion Of Tho foreign exchange parket rendrS IL pos
.ibc mat shipment, might be made soon lie sea III
T. nurroncbng when outward lOw of gold Is usIllN
ttNp "a