New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-28
From SIS a Year
RAILROAD INTERESTS.
R1-MORS ABOUT B. AND 0. DENIED
pprsIDrNT CowEN SAYS THAT THE CoMfAN'
II MARCH I.


WILL NOT DEFAULT on MARCH l.
,., ..as,oraav Of the report that re-
co,vership for the Baltimore and ono KAN
-, NOS i,,nendIng was caused by sharp
decline in The stock Of the road the open
ing price was 81. against the maj quota
tion of SO Wednesday. and subsequent IAN ~ -
was followed by recovery at the cioSe " -'2
made the net loss for the day ~. III was i"no'.'
that the examination OF the companys books oF
stephen Little the expert accountant, hau SNOW"
had state of affairs and that the company wou"
aefa,,lt on the interest due March l. The follow
ing official statement issued from the company
office at No 2 Wal-st.
There Is no truth In the rumor that me baitimope
and Ohio will default on March me nesouatlons s
for the collateral trust loan intended 10 take care
oating debt and to provide new capital ,or .ns eu
- ,Lo 'omn,nv have progress ed very fdNOraDIy ny
70 he present point and neither the members OF me
syndicate nor The company see any reason why o,.
same should be completed on "a sa''sIac'o'S
basis. ,,,,,o.. ro,or, are nm
founded as he merely confirms the statements mare
bv The report of the companys accounting ofcets
as OF February l. 1896. Mr. lAttles exam',n s,1
ness and az TO the earnings of the properly The
alarming statements. therefore, as 10 tni' c pep,
debt and net and gross Income. more than what has
already been shown by the company , accJn' Sn
Officers. Mr. Litte's examination being intended lot
the purpose Of satisfying the syndicate as 70 the cor
rec,ness OF these accounts Of February l. iSS'
President John X. Cowen Of the Baltimore ana
Ohio who in NewYork. supplemented the FORE
going with these remarks:
50 far from there being foundation for the adverse
report made in New York to-day in regard TO Balt-
more and Ohio affairs the facts are that the experts
have finished their examination ana and the condi'
ton as represented TO the Board OF Directors that
the securities In hand against the nOating debt are
ample and the plan for the r~hs biiitation OF the
property has progressed far az 10 meet with the
approval OF the directors and Will be ready Tor an
nouncement IN n very short time.
In addition 10 the fall in the ;tock Of the Balii-
more and Ohio $1,000 OF It's per cent bonds Of 1875
sold at 49, and others subsequently offered At
>gi9 which was a drop % 2lis per cent since De-
ccnber 2a per cent In interest paid on Febru-
AIRY J.
baltimore and Ohio stock declined per cent In
London. .
Baltimore Feb FIN sympathy with the New
York market Baltimore and Ohio stock was weak
here to-day only lls shares In small los changed
hands AT the Stock Exchange. The prices ranged
from 25iz AZ the opening TO p NJ the close. The
disquie,ing rumOrs from New ork that The expert
examination OF the books Of the company hai Us
closed an unsatisfactory state OF affairs were not
credited among the lea ling brokers. II j. admitted
that upon the report 10 be made b. Mr. Little VII!
depend the decision Of the syndicate organized IN
Ncw-York - undervrite the collateral trust loan
which the Baltimore and Ohio Company proposes 10
Issue.