Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1893-03-24
FINANCIAL LETTER.
THE GENERAL SITUATION
As II Looks to WindhRm County Boy
with His Eyes Open.
d Rroad street
NEw YORK, March p, ls03.

"a Broad street,
New YORK, March %, 1893.
Stocks and bonds have been more quiet
the past week, and liquidation seems to
have spent its force on the present condi-
tions. In few specalties there has been
very sharp recovery from the depressed
condition of one week ago. New England
sold at 21 few days since, and today sold
above %. Mr.. Mcleod is now president of
the New England company, and also presi-
ident of the Boston & Maine, the directors
of which recently made traffic alliance
with the New York, New Haven & Hart
ford. Thus you will observe the New Ha-
ven people are joining hands with Mr..
McLeod's Boston & Maine, and at the
same time are threatening to force the New
England road into bankruptcy. What
kind of bunco game do you call this?
Only few months since Mr.. Mcleod was
lauded to the highest pinnacle of railroad
fame Sketches of his life were printed
the world over. But how soon the scene
changes, and he is now censured on every
hand. The cause of his downfall seems to
lie in the fact that he was little too am
bilious in the New England territory, and
was antagonizing the Vanderbilt, Drexel-
Morgan, and other large interests; hence
his scalp. But we must give Mr.. LcLeod
credit of having stirred up railroad circles
in New England territory, and forced the
consolidation of several roads. Whether
these changes will be beneficial or detri-
mental to the people remains to be seen.
The receivers of Reading have applied
to the courts for authority to issue $780,
600 certificates. 1t has been supposed that
any issue of receivers certificates would
have precedence over all classes of bonds,
but the general mortgage bondholders are
preparing TO fight this issue of certificates.
There are $4,000, 900 of these per cent
mortgage bonds, and when these bonds
were issued they were called a high class
bond and considered one of the safest in
vestments of their kind in the country. The
Reading certainly needs cash and the bond
holders may be biting off their own noses
by opposing the issue of receivers certifi-
Gates
There has been very little gold exported
this week and money has been somewhat
easier. The money situation was relieved
| by the American Sugar Refining company
loaning, on call, s., 000, 600 and other cor
| porations loaning smaller amounts. This
money will be called in on or before pril
first, at which time interest payments will
be due. Our exports of breadstuffs for
January and February show decrease of
$4,000, 900, while our imports for the
above two months increased approximately
$27, 00O,000 Does this look as If the ex-
ports of gold are over?
The board of railroad commissioners of
this state have issued their annual report
This report shows that in the year 1892,
1855 persons lost their lives, and nearly 1000
were injured; Is were killed and 64S were
injured while coupling cars. In this con-
nection the writer hopes that We will soon
have an improved coupling arrangement,
and thereby save this awful slaughter and
manning of humanity. Please remember
the above data covers only twelve months
and one state of these United States.
There is some alleged Vermont maple
sugar in the market, but the writer is toe
good Vermonter to take the bait.
W. p. EAGER,
Banker and Broker.