The daily morning journal and courier., 1895-06-22
THE NEW ENGLAND ROAD
THE TALR OF ITS ABSORPTI0N BY
 THE CONSOLIDATED.

What is Said on the Subject in Town-An
 Interesting Theory-Wnn Streets Move | A Syndicate's Project-What May Occur.
 That there is an important deal inn
 pending in New England railroad stock lis credited by many. Some conservative authorities are disposed to credit the 1 rumor that the New England is to be 1 absorbed by the Consolidated road. The Consolidated railroad authorities are reticent in the matter, but said last evening that there is nothing in it but "a Wall street boom in the New England stock. Wall street persists that there is millions in it'' somewhere and will not hear to the contrary until those who have embarked in the deal have marketed their stock at high figures Owing to the variety of opinions on the subject a reporter of the Journal and Courier" has consulted some of the au- thorittes on the subject, as appears be- low
 A learned New Haven authority pre- sents the following theory on the sub- ject: A Wall street pool has undoubt- edly been accommodating the common stock of the New England road until 1t has now a majority of this stock. It is therefore in a positionl to "hold the fort" for the present, It will probably ten- der the New York, New Haven and Hartford Railroad company the first chance to buy the stock. The stock will be thus rendered oh the theory that the syndicate can get the best bargain and most money out of the Consolidated road The common stock Is now at about A. Call the price 30 for the sake of convenience and control. The pool can readily put it to 30. The Consoli- dated road will therefore have an op- portunity to buy the control of the road for less than s14o0O,0OO, there being $20,- 000. 900 of the common stock beside about $3, 500, 900 of preferred. The question s will 1t pay the Consolidated road to pay $14OO0,OOO for the control of the New England?
 What is involved In buying this con trol beside the paying of s14,000,0O0 for the control of the common and the pre- ferred stock? Is 1t a pudding" for the Consolidated to take care of the bonds of the New England?
 We'll, considerable is involved, The Consolidated would have to assume. among other things, the responsibility for the payment of the interest on the bonds of the New England road. Of these bonds there are as follows:
 Of first mortgage bonds, $tQ,000000; part of these are T per cent. bonds and part 6 per cent. bonds.
 Of second mortgage bonds there are $5, ,000. 000
 Then there are s1,50O,000 of terminal bonds. and bonds of other small issues, notes amounting to S730,000, and other minor responsibilities.
 A years interest Is due July 1 next on the first mortgage bonds and two years interest August on the second mortgage bonds.
 TO help offset this cost nearly $4,000, | GOO in cash has been paid Into the hands l of the reorganization committee for as- of 20 per cent. on the common | stock.
 Now, if the Consolidated road doesn't l want the control of the New England | at the figure above named the Wall street syndicate will offer 1t to the New | York Central road, and, failing in that, will try to dispose of 1t in some other profitable way Failing in this, the stock will ere long take one of its old fashioned tumbles.