New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-20
SMASH IN NEW-ENGLAND.
4 FREAK OF NEARLY EIGHT POINTS IN TWO
DAYS
SINISTER RUMORs WHICH CANNOT BE CONFIRMED
REPORTS OF A RECFIvERsHIP DENIED-THE

STOCK MARKET ADVERSELY AFFECTED.
The dealings in New-York and New-Engiand ha'-
road stock were the sensational feature or the
stock Exchange market yesterday. The transactions
amounted TO about GS.OCO shares. and on Mohuay
the recorded trading covered nearly 4sVo S""'.''
making III 600 shares I'm the two days Inc en'''
capltal stock OF the New-York ana New-hnsia"u
consists of 10000 shares. The price on MONDAY ie'i
TO 2flG25ia, against 2S Saturday. and YESTERDAY
there was a continuous outpourlng OF stock winch
carried the price from 25h to s'saroh. Inc last
nuota ton represented a fail or nearly ii per ce".
in less than two weeks. AS rule the mystery
in operations in New-England stock ATTENDS i,s
seusa tonaI advances ordinary decline IL accept
cd in Wall Street as simply a reflection OF the
true value OF the stock. This weeks crash, now
ever Is considered to be hrst-class mystery
Its explanation is still lacking.
Houses with intimate Boston connections were
ignorant Yesterday Of the cause or the sudueh anu
terrific outpouring OF stock. Members of promi-
nent broadway firm. which WAS credited with
heavy sales denied that they had sold the stock
directly or indirectly Rumors were plentiful. out
none OF them could be confirmed. IT was said 'hat
there had been a quarrel between f. H. rr'hoe
CO. Of Boston, and A. A. Mcleod president OF
the company which caused the firm named % sac
rlnce its holdings. Another story ran TO the erect
that Mr. Mcleod had sold his holdings but MS
friends denied this \ third theory was that the
break was the result Of vigorous attack III the
interest Of the New-YOrk, New-HaVen ana Hart
ford which desired to secure control OF the New
England road at a low price. II was asserted 'nd'
the company would default on Its January interest
and be placed in the hands OF a receiver ou'
Boston dispatches quoted the company treasur p
az denying this report. The bonds Of the company
closed IN Boston hea of the friends Of the com
pany that no defa-i impending. Presldrnt
SaileG 70 obtain an interview FOR The Tribune
one story declared that bull pool when ..dnd nai
arrangement for an independent connection win
New York. had been forced to lquidate be
ooSed 10 have the New-York and New, England
lease the NewYork ew-Engand ana "a. MoT pr.
sters station Leggett's Point on the East hVer,
and guarantee the bonds On aaS fon mn to $1,000
year were 40 10 the New YORK ana Ne% Enc
land Some OF the large r, bsys 10 the
tract as too one-sided for the New-York and New
Engiand and an Injunction against the lease was
thrcatened The possibility OF these proceedings IS
scrn,nts The stockhoders OF the Newiork and
%swEnsiand viii meet next Wednesday TO pass
upon the lease II It's approval Is restrained by m
anctoR viii nF be- s r@sdercd necessary The contem
patton OF this possible delay - reported 70 nave
The stock market in general n %ss IN SswYork
6e r New Wy nsand as it chcckc the disposition %
cover shorts Nevertheless the buying OF the bears
sufficient to cause some feeble rs ac,v. bu,
cs 9s a rom ga, to 5s there was rally Of y
nor cent Chicago. burlington ana quincy
from 7si. TO 4. and closed unchanged at 7s,s Rock
Island rel from &C.. 65as. but recovered 70 Dos
iake shore declined from l2i 10 ~. but rallied 20
i2Sis Network Central fell from i"is TO ys@sr
d0T and cleveland. Cincinnati, Chicago ana ~
IoMis decllned / per cent to 3ei, Canada southern
sold up /. per cent 70 81 ll1n i,s central nrs
fcrred declined ~ per cent to ls'. In The ne
industrial group American sugar kein!ng ra sr
10 s1T. hut closed at SlA. Chicago Gas zen from
e ~ Siasli. General Electric sold from S2 to sSt
but then rallied per cent Western mon it'e-
rraph rose To- S7l. and then receied 70 N'.hso's
Boston Dec l9-It runored THIS afternoon
I'm, receiver to be appointed Tor the
New York and New England Railroad Irninpains;
secretary Medheid. speaking Tor Nlce,FreSueh'
olou said this afternoon. 1t IS only bear rald.
We have heqrl the rumor OF receivershlp. BUT
know nothing about II AMI do not believe II 10 De
true"