The times. [volume] (Richmond, Va.) 1890-1903, 1895-12-28
SLUMP ON B 4 .. SOCK
Omcials Of the Road Deny Ruinore ~
gxrding tho Company snd Lay
the Blame ON Brokers.

NEW YORK. Dec gs--The feature OF
the trading at the New York stock Ex-
change to-day was the break In Balti-
more and OHIO from 20 IL to 50. on sales
OF less than two Thousand shares. on
the reiteration Of the reports Of re-
ceivership ard rumors OF an inteaaed
issue OF new stock to take up the fioat-
ing debt. 1t was also stated that tne
company had sold or would sell its biock
of western Uncn Telegraph stock.
STATEMENTS OF OFFICIALS.
President King, of the Baltimore ari
Ohio, when asked about the rumofs.
You may unqualinedly deny the rumos
that the Baltimore and Ohio railroad
Company Is selling its holdings Oh west
gle share of the stock has been disposed
Of All the reports Of an impending de-
fault on the part of the Baltimore ana
Ohio Railroad Company. or any Oh It's
THE money to meet all interest charges
due January J.. 1876, for all lines, mad
been provided for. and is now IN BANK
Finally, the report that the meeting nad
sl5,00o.ooo OF new stock is entirely with
out foundation"
General Louis Fitzgerald, president or
the Mercantile Trust Company. and one
OF the newly elected directors Oh the
company, said:
There is TO be no receivership for tho
Baltimore and Ohio.
There is no occasion for one. The
pay the interest on its bonds. and the
dividend OF the preferred stock due Janu-
airy LIST.
''The attack on Baltimore and Ohio
stock was made by bears on Western
Union stock who wanted to create the
idea that the Baltimore and Ohio would
be Obliged to let go OF its western
Union"
William A. Read. of vermllaye & Co.
another director. said;
There is to be no receiver for the Bal
timore and Ohio. The company has not
the authority 10 issue second preferred
stock to take up its floating debt as has
been reported II would do"
IN BALTIMORE.
BALTIMORE. MD, Dec. E-Baittmore
and Ohio shares were even weaker IN the
local market to-day than on the New
York Exchange. and the pressure to sell
greater than any other time since the
downward movement began few weeks
ago Sales were made at the opening Oh
the market at 20 3-s, decline OF oo-s.
compared with the closing bid price yes
terday. The last sales were made At "a.
a net less for the day OF eight points.
The talk OF a receiver was more gener-
ally INDUCED In to-day tnan at any
other time since the financial condition
of the conn any began to attract atten-
ton. the talk TOO was heard in the offices
of the best-posted brokers OF the city.
There may be no more foundation Tor
the alarming stories current to-day than
for the reports that have been circulated
from time to time during the past year,
and which the Baltimore and Ohio had
paid little attention.
one OF the reasons for the slump to-
day was rumor which emanated I'm
Wall street. and was telegraphed here,
that the directors had decided 10 issue
Sl0.000000 second preferred stock for the
necessary funds The outsta nding second
preferred stock amounts to $27.00000.
A private telegram was received from
New York stating that the Baltimore
and Ohio to-day sold its holdings or
Western Union Telegraph Company stock
said 10 amount to several thousand
shares.