The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-12-28
BAL TIMORE And OHIO
Big Break In This Conpahy's Stock Upon
Runors Of a RsGslYership. .S
PRONOUNCED URQUAllFlEDLY FALSE.
Money to Meet All Interest Chargcs
Now I'm I'nn's--New Issue of PrsA9
icrrcd stock Not ContcmpIated---s
Western Union Hears Responsible;
for the Attack. .s$Ss

new York, Dec. 27.-The feature of the
trading mt the New York Stock 3 EIx1i
change today was the break in BaIti!i
more and Ohio from 40k to IS on sales
., ui iess than 2,o0o sharSs. on the reitera-
tioh OF the reports of II receivership, and!
fumors Of an intended issue OF new
stock to take up the floating debt. Ifs
was also stated that the company had,f
SOLD or would sell its block of Westerni
Union Telegraph stock -Pfesi-E
dent King, of the Baltimore and tOhfOS
when asked about the rumors, said IS
You may unqtalifiedly deny the r,Imorl
mat the Baltimore and Ohio railroad iay
selling its holdings OF Western IJnion.s
%tocks-not II single share of the stocki
mas been disposed Of-all the reports ofS
an impeding default on the part of thesS
Baltimore ana Ohio Railroad Compar,y'
or any Of It's affiliated lines. Tho money
10 meet all interest charges due January
1S96, for all lines has been provided;
for and IL now in bank Finally. thal
report that the management has dis-l
cusSed the issue or from $4,000, 600 tor
Sio,9Uoooo or new preferred stock Is en-
tirely without foundation intact. q Z US
Gen. Louis Fitzgerald president of the
Mercantile Trust Company, and one OF
the newly elected directors Of the COM =,
pany, said: There is to be no receivers
ship for the Baltimore and Ohio Ther.ei
Is no occasion for one The companY
has now In hand the money to pay }thet
interest on it's bonds and the ydiyIdesldl
on The preferred stock due January y1st. &
The attack on Baltimore and Ohio
stock was made by bears on Westei7rt
Union stock who wanted to create Ftheti
idea that the Baltimore and Ohio wouldi
be Obliged to let so OF Its Westetnt
Union" lFI lstgaS
William a. Read, of Vernlilye l& Co. .S
another director. said: There is to bel
no receiver for the Baltimore and Ohio.fi
The company has not the authority tos
issue second preferred stock to keep tiptI
IT, It's ,,lf ,lifoatlng debt as reported It
Baltimore, Dec. Ia. .--Baa timore ana,
Ohio shares We're even Weaker irSstfls3
local market to-day than in New YORK;. II
and the pressure to sell greater than tatt
any time since the downward moVe-s(
ment began, few days ago. Sales weret
made at the opening of the market at1
SG&, decline of 55s compared van ,nal !,
closing bid price yesterday The laat,
sales were made at 81, net loss for the
day of points. ggS
The talk of n receiver was more gems
orally indulged in to-day than at anystI
other time since the financial condf-3s
tion OF the company began to ayttractg
attention. The talk. too, was heard dinI
the Offices of the best posted brokerSi
in the city. There may be no more foun-t
dation for the alarming stories current |
to-day. than for the reports that haVe3
been circulated from time to time duringi
the past year, and to which the Balti-1
more and Ohio has paid little or no at-i
tcnton. 5sS..
One of the reasons for the slump te-S
day was q ruwor which emanated} !
in Wall street and was telegraphedl
here that the directors OF the cons!
pany had decided to issue $40, 600 coo i
additional second preferred stock for thei
purpose of providing the company withi
necessary funds. The present, outstand@I
ing second preferred stock amounts TOT
| s.. .000. 900. a;sEs
a private telegram was received her@s
| this evening from New York statingg
! that the Baltimore and Ohio to-day,s
| sold its holdings of Western Union,5s
| shares. J59ti