The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-28
B. AND 0. RAIDED BY THE BEARS
RUMORs OF A REcEIvERsHIP STILL
RAMPANT.

RumOrs Also Aaoat That the Compa-
ny Is About 10 Sell or Has sold Its
Block of Western Union Stoek-The
telegraph COmpany's shares De-
cline sharply on the Rumor-B. and
o. shares Break ~ Points.
New York. Dec 27.-The feature OF the
trading at the New York Stock Exchange
to-day was the break in Baltimore and
Ohio from 4Oia to 80 on sales Of less than
1000 shares, on the reiteration OF the re-
ports Of a receivership and rumors Of an
intended issue Of aew stock to take up,the
floating debt. 1t was also stated that the
company had sold or would sell its block
of Western Union Telegraph stock.
Vice President King Of the Baltimore
and ohio, when asked about the rumors
said; you may unqualihedly deny the
rumor that the Baltimore and Ohio rail-
road is selling its holdings OF Western
Union Telegraph stock-not 4 single share
of the stock has been disposed of-and
all the reports of an impending default
on the part OF the Baltimore and Ohio
railroad Company or any Of its affiliated
lines. The money to meet all interest
charges due Jan. l. 1885, for all lines has
Finally, the report that the management
has discussed the issue Of from $4,000 600
to S5.000OO0 OF new preferred stock is en-
drely without foundation In fact"
Gen. Louis Fitzgerald, president of the
Mercantile Trust Company. and one OF
the newly elected directors Of the CONS
pany, said; There is to be no receivers
ship for the Baltimore and Ohio There
u no occasion for one. The company
has now on hand the money to pay the
interest on its bonds and the dividend on
the preferred stock due Jan. 1.
The attack on Baltimore and Ohio
stock was made by bears on Western
Union stock, who wanted 20 create the
idea that the Baltimore and Ohio would
be obliged TO let go of its Western Union.''
William A. Read Of Vermilye & Co. an
0oher 0o reoslner dlree'Sr or ,s SAID Is 70 be
The company has not the authority to is
sue second preferred stock TO take up its
noating debt, as has been reported 1t
baltimore. Dec. 27.-BaltImore and Ohio
shares were even weaker In the local
market to-day than on the New York
greater than at any other time since the
downward movement began a few weeks
OF the market at 36as a decline OF IS COM
pared with the closing bid price yester-
day. The last sales were made az "a, q
net loss for the day of points.
The talk Of a receiver was more gener-
ally indulged In to-day than at any time
since the finances of the company began
to attract attention. The talk, too, was
heard In the offices OF the best posted bro
kers In the city. There may be no more
foundation for the alarming stories cur-
rent to-day than for the reports that have
been circulated from time to time during
the past year. and to which the Baltimore
and Ohio has paid little or no attention.
One of the reasons for the slump in
the stock to-day was rumor which en-
anated In Wall street and was wired here
that the directors of the company had de-
cided to issue Si0.0O0,000 additional second
preferred stock for the purpose of pro-
viding the company with necessary funds.
The present outstanding second preferred
stock amounts TO $2,0O000O.
A private telegram was received here
this evening from New York stating that
the Baltimore and Ohio to-day sold it's
holdings of Western Union Telegraph
Company, said to amount to several thou-
sand shares.