New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-01
CONTROL OF NEW-ENGLAND.
THE VANDERBILTs. 1T Is CONFIDENTLY
ASSERTED, WILL SECURE 1T.

EUMoRs TO THAT EFFECT CIRCULATED WITH
PErsIsTENCY-w WHAT cHAuNCEY NJ
DEPEw SAYS or THEM.
The rumors tina, have been afioat Tor 'he as'
few weeks concerning the manipulation Oh Tue
stock OF the New-York and New-Ensand railroad
continue TO be circulated with Significant persist
ency According to THE Hartford Times. the
Nev-Eng,and Railroad is to be sod under fore
closure proceedings In Hartford on July ?. Some-
body is going to buy IT, and 1t will be interesting 10
note who II Is that IN time OF severe business
depression will put up between four and hve MIL
ions Of dollars in cash to acquire controi oil th's
great property and in whose interest the reorgahi-
cation scheme. now Almost coihp'e1e' "" W
carried through.
The fortunes Of the New-York and New-Eng.and
stock upon the Street for the last few months nave
varied The securities Of this railroad nave Oee"
marked up and down In the stock market ana us con-
ro has passed from one set OF hands % aho'Hei
without ever coming into the secure possession oil
anybody There pretty good reason to believe that
the socciIatIye era OF NewYork and New-EnSiand
stock has come to an end. and that henceforth Iris
railroad will he owned and managed III the same
conservative and businessllke spirit when charac-
terzcs many other great railroad systems u TIC
East. go
The predominant report among all those that
bav. bcen anoat was that the NewYork, New
Haven and Hartford Railroad Company hau e''si
neered the reorganization OF the New-lorh anu
New-Eng.and. and would eventually come INTO pos
session OF the property. This statement 80 Things
AZ present indicate. is inaccurate. FOR, wAie Tue
rehabilitation of the property will DO carried ou'
bv mon who exercise a large influence In the man
agement OF the Consolidated. 1t Is not the latter
company which s to dominate the AFFAIRS OF inc
New-York and New-Eng.and. greater hnancia.
bower 80 It Is said than the Board OF Directors OF
ri 4hn ha. h4
reorganization OF the road and Is this power that
is now about 10 disclose It's identity. THIS power
- those who ought to be well Informed about the
matter say Is none other than the Nanderb.ts. ana
II IL asserted tina, henceforth the New-iork anu
New-Eng.and Will be known as \anderbt prop
erty.
When the whole story of the nnancia! reorsanlza-
,ion ~ tho New-York and New England Railroad
is told Il is said IL will be found that the entire
affair has been engineered from first 10 iast py ).
Plerpont Morgan.
nu,,ny the recent manipulation Of the Newyork
and Ney-Englanl stock N Wall street ana the cir
cu,atlon Of rumors that have been ahoat concerning
+, thore has been no time when the name OF ).
pierpon, Morgan WAS not mentioned prominently
as the one who handling the stock. Inc ques-
ton has been mainly. For whom Is j. fiefpoh'
Morgan getting control Of the New-Engand road
The Ncw-York New Haven and Hartford was
thought 20 be the company at work. but from GER
tain facts ,ot drop IL seems apparent that the van
derhit interests are at the bottom Of the present
reorganization.
Chaurcey NJ Dcpew. president OF the New-York
Contra. Railroad at his home AZ Dooos Ferry
Yesterday when asked about the rumor. lie si'd:
1T may be true but | know nothing OF IT, /
have heard the story for a week past. and nave
watched H. bu, | am az a Joss 70 know Just "here
,h. story comes from The stock has been hNe'y'
ana apparently there Is strong buying movement
anoit Tha, may be what J. Perpont Morgan Is
nhars
suppose the true condition Of affairs VIII become
known ultimately. but just at present am as FAR
IN the dark any one else
nor Apparent he was anxious - know whether
some one had let the secret OUT. ior he sad; ,.,o
rs nat siory ony gossip Of ne SIRE or nave
you a, 20, some definite Information from an
authentic source
mainly gossip " the Street. but that II was a.so
iod confidently by certain persons VINO snoId ~, %
~ a position to know the real state OF AFFAIRS. lie
We. until the peop.c who are the ever Of the
known by thelr actions. don't see how We can do
NOR than thcorize | don't know anything about
j.. and d nj care TO engage IN gue-swork. -, So
The f0..twing facts snow The progress Ot the re-
~ the property on july O. and indicate tho pur-
chaser Tn plan u reorganization. which Is now
January lS.i - John simpson. Of the railroad firm
o; simpson. Thatcher barnum Ile most strlh-
r,,, ...,t All s., a share on the 81 oc0 90 % pre-
erred stock making NoOo"o in al that was TO be
paid in cash GA railroad managers at hrsi 'anfhei
nt the idea OF such An assessment They sad tnat
so or 81 share might De ;oierable as SUCH an as
.~ssn-ni bn, that 500 share on New-york and
NrN-F.ng.anl NO.umon stock was preposterous.
This stock f.'. % 81 a share In n" open marker.
Which was Just what the reorganizers wanted.
with tho fll assessments paid. u stands the own
ers who purchased N ga. am within the
las, week IL nAs been quoted at more than so. tn"
asses rlcnis have been pad upon u, Ire stock.
an now II u said that comforting interest. 20
Eethcr w'h s, per cent OF the second mortgage
bonds are In the possession u j. =. Morgan :. co.
Another feature OF the r'crganization was the
power granted 20 the Reorganization Committee.
consisting 81 John i. Waterbury, president OF the
Manhattan Trust Company. Henry W. cannon.
PRECEDENT - the Chase National Bank. and 7. J.
Coolidge ir. president OF the Old 'oonv Trust
co.nu.ny u Boston. The Reorganization Commit
tee has Furnished the receivers with ali the funds
necessary FOR running IN" road. The road has been
run on = cash basis. and not only that but many
frouh.eson" suits have been settled out OF court.
ami oNcr fhlns been dOle - facilitate the fore