The herald., 1893-12-31
Capital Afraid to Seek In
veStment.
Millions of Dollars Lying Idle
in the Banks.
Seventy Railroads Gone Into the
Hands of Receivers.
British Shareholders Disgusted With
the Management of American Cor
poratfons-Gossip About
Atchis0n Affairs.


acterized the closing transactions of the
year in Wall street, due in great meas
ure to the desire of the short interests
to cover their lines before the January
disbursements are added to the already
large supply of money. The city bank
surplus exceeds the legal requirements
over $50. 900. while at the close OF
last year it was only $1,000, 900, and the
year before SIT 100000. The speculat-
i've horizon has been cleared OF some
heavy clouds, and the outlook lie much
brighter in consequence. During the
past year 70 railroads, operating over
$4,000 miles of track, with an aggre-
gate capital stock of $3.50. 900, 900 and
funded debts of over 81 ,0OO, ,000, 900, have
been placed in the hands OF receivers.
With the difficulties of these corpora
tions in process of acknowledgement, a
large element of speculative danger re-
moved, an improvement rather than
depreciation of values is to be looked
for.
NO ATCHIsoN ASSESSMENT.
DOpION, OcCs OO.-L IobiuoAg IlOihbhi1
said today there is no foundation for the
report from London that 25 or 10 per
cent assessment on Atchison stock was
contemplated. He gave no hint of the
plan to be pursued, but said the restora-
ton of the Atohison WAS not far distant.
All the stories that the company would
be reorganized and most of the branches
be cut off were absolutely without found
alton. Many large holders of securities
have indicated O desire to assist the
management in the restoration of the
company to the stockholders. The re-
ceivers have concluded an arrangement
with nearly ali the holders of the COM
pany'B notes, which prevents the eacri-
fice OF collaterals and secures the same
for the company. This will facilitate
the plans of the management for the res
toraBion of the credit and 6nenciel posi-
tion OF the company.
SILLY CANARD.
NEW YORK, Dec. 30.--Inquiries were
made of counsel in the Atchison fore
closure suit. concerning the story
telegrsphed from Kansas, City
that the Union and Mercantile
Truet companies are dissatisfied with
the appointment of j. g. Wilson
as receiver because he lives in the west,
and would apply for q third eastern re-
ceiver in his place. Counsel for both
trust companies deny the rumor, and
state to their positive knowledge that it
ia entirely without foundation; that
such matter had never entered their
minds.
BRITISH INVESTORS DIsGUsTED.
LONDON, Dec. 30.-In an article on the
Atchison complications the Economist
condemns the management of American
railways generally. and, referring to the
balance sheets, asks why the directors
do not state the case plainly in few
lines. The Economist says it docs not
know, unless it better suits the purpose
to keep the shareholders entirely
in the dark. The Economist
says: I'VE are 10th to make
such a charge against American Of
ficials, yet are compelled to believe, or
else the whole system OF france adopted
is entirely rotten. No wonder investors
on this side are disgusted with euch
chicanery. They need to enjoy an alb.
soiute superfluity of faith or credulity
to believe any longer in the honesty of
most American railway managsments."
CENTRAL PACIFIC AFFAIRS.
Bretherton, London director of the
Central Pacific railroad, says the pub
lished statement that the Southern Pa
cific guaranteed dividend on the Gem
trail Pacific ehares is obviously erron-
eous. He adds that the Southern Pa.
cific does not guarantee any dividend on
Central Pacific shares. Whether the
Central Pacific's usual programme will
be declared in February depends on the
proposals which will be made by the
Union Pacific for the settlement OF the
debt due by that company to the United
States, which he says is of nearly the
same amount and character as that due
by the Central Pacific.
The Westminster Gazette says the
foregoing is partly bubble and partly
true.
UNION PACIFIC INTEREST.
BosToN, Dec. 30.-The Union Pacific
receivers have applied for author
ity to pay certain interest
coupons falling due Decem-
Der l, January l and February l..
Special efforts made by the receivers to
secure immediate authority to pay the
interest on Union Pacific first mortgage
6 per cent bonds. resulted in an order
authorizing the payment. 1t is possible
a few days. delay will occur in the pay
ment of other interest due January 1st.
PENNY A OuART