The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-02-04

the bonds were bought at 95, 1t has
seemed inadvisable to sell them so long
as the New England is not held by a
lease. 1t Is much more probable that
the company will fund Its floating debt
by new issues of it's own bonds based
upon parts or the whole of its property
and it can readily float such bonds at
low rate of interest without having to
ask new authority from the legislature,
The whole OF the floating debt repre-
sents directly or indirectly money used
to secure the New England road and
it's bonds. The economies in the oper-
alton of the road, it is stated, are likely
to result in a saving of $l,200,000 dur
ing the present year.
while there is much and somewhat
excited inquiry here as to the causes
of the decline, there have been almost
no local sales of the stock"
A New York dispatch yesterday said
that the decline Of the Consolidated
road stock had brought on a variety of
rumors regarding the development of
the company, THE principal fact APP
pears to be-" says the dispatch, that
there is to be change in the officers
of the company before very long. 1T is
no secret that there has been friction
for some time in reference to heavy ex-
penditures for improvements and bet
terments, and it Is stated with a good
deal of positiveness that President
Clark will sever his connection with the
company before long
This story about differences among
the officials and President Clark retir-
ing is revived periodically, and no Gre
dence is placed in it now by men con-
versant with the inside affairs of the
company.
Director. Robinson of Hartford says
| that the company has large floating
debt, between 100000 and $10,000,OOO
incurred through acquiring the proper
| ty of the New England railroad which
rendered necessary the borrowing OF
the money and the payment of interes
therefor. He favored selling the S..
100000 of New England bonds which
the road owns. which he thought could
be sold at a handsome advance ovel
their cost Some of the directors agreed
| with him and others did not, so thu
\ question of the sale of the bonds wat
not decided, but would come up again
at a subsequent meeting of the board
| Il am a large stakeholder Of the road,
| said Mr.. Robinson, considering wha
| little money / have, but if the stock il
| offered at 100 should try and borrow
some money to buy at that figure
| Yesterdays Boston Advertiser says
kilograms from New Haven, the head
| quarters of the road, have been FIRE
quent to the New York papers, but il
| giving credence to what they contain
| it must be borne in mind that the Con
necticut legislature is in session, anC
| that there is a fierce fight on between
the trolley companies and the railroad
and it is barely possible that the dis
patches may be colored by prejudice
! against the road.
| Il talked with a we'll known railroad
man of this city, who is in no way con
nected with the New Haven, and speak
ing of this drop in the stock, he said
L consider that the stock is a bargain
at the price, because the New Haver
| system is bound to be upon a profitabl,
basis in the future, if it is not just a
present With the completion of thu
present construction and improvement
work, the building of the new Unior
| station and the equipment of the sub
urban service with electricity, the com
pany will be in very strong position
| to make a successful bid for the pas
| senger business coming into Boston
from the west, either through or local
and in railroading there is nothing tina
pays like the transportation of passen
gers. provided you can handle enough
1 fn1y rJn ntriN i6t
| to the suburbs the New Haven neet
not fear trolley competition, and in m,
| judgment the future benefit to accrue
] to the road from the present lavish pol
/ lev of President Clark is incalcula
| BILE
| OTHER NOTES.
| The soft-coal-road sale war has final
1 1y been settled by MUTUAL agreemen
/ and concession The interested line
have been losing about half their ne
1 earnings, as a result of the war on sof
! coal. The extent of their benefit from
| the new situation it is stated, will de
pend largely on settlement of the diff
| ficulties now centering about eastern
I soft-coal rates. The present status 0
that traffic one railway man describe
by saying that while the Baltimore ant
| Ohio and the Pennsylvania have beef
fighting, Mr.. Morgan and President In
gals working through the Chesapeake
and Ohio, have "stolen the bone" A
all events, the Chesapeake and Obi
| has secured important contracts will
the New York, New Haven and Hart
ford road and the West End Street rail
way of Boston, both properties il