New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-18

tendency, and for the last two days the trans
actions on the Stock Exchange had been of un-
usual size. In general Baltimore and Ohio is
! not traded In extensively in New-York There
have been days and days in the present month
when not a single share changed hands.
month ago the stock was quoted around II.
Yesterday ii at A. This, however, signihed
an advance of fourteen points only for the rea-
| son that the assessment of So share must
/ come out Of the $l4.
At the Office of speyer & Co, who took part
In the recent reorganization. 1t was said that OF
the total value of preferred stock taken by the
syndicate the firm had disposed Of S16.0OO.OOO.
or practically all OF 1t. Information relating to
the nama Of the purchaser or purchasers was
denied. 1t also unoflcially suggested that
little confidence was placed In the rumor that
! the Control of the road had been secured by
Westerners
LITTLE EFFECT ON THE MARKET.
The news from Chicago had little If any effect
upon the local market There were 1,G5O shares
of the old stock two assessments paid sold at a
slight advance Of q per cent. OF the new
stock there were 400 shares sold TO be de-
livered when issued. with the price showing
decline of y per cent.
One Of the best posted men in the Street In
discussing the situation with a Tribune re-
porter summed IL up az follows: II do not be-
lieve that the control Of the road has passed out
of the hands Of those men who formed the
syndicate in the reorganization plan. 1t may be
that a certain amount of stock has been sold TO
Armour. Field and some other wealthy Chicago
hnanciers who have been induced to purchase
on the basis of profitable returns In the future
The whole story in a nutshell might he told as
! follows: Those who have been interested in the
! Baltimore and Ohio road aimee It's reorganiza-
ton last June have great faith In the ability or
James J. Hill. president of the Great Northern
road. They look upon him one of the abest
men Of the present time and the most aValapie
man for bringing the Baltimore and Ohio out
OF its old condition into one of prosperity ana
profit AS understand ii. Mr.. Hill mas ac-
! CURED a considerable interest IN the road and
will be made one Of the directors and VIII
practically direct and supervise the entire ad-
mnstration of the company's affairs. MT nm
has made a great name for himself as president
! OF the Great Northern. In railroad circles he Is
looked upon as the coming man. If he assumes
| the rens Of government OF the Baltimore and
Ohio he will have the opportunity OF lifetime
20 show that ne merits his reputation ms
road at one time one of the best paying
| railroad properties on the list. IL mas sv t
down simply through mismanagement. Whether
or not 1T can be brought UP again To a point u
good earnings remains to he seen
! The foregoing interview received unofficial IN
! dorsement by one in close touch with Speyer q
/ Co. and Kuhn. Loeb & Co. II was Ierharke'
! that Mr. Hi was on terms Of close friendship
| with the members Of both houses. and from IN
! side sources Of Information II was known that
! he had been induced TO take large DIock oI
| stock and lend his helping hand TO the WORK OF
! putting the company in good shape. 1t was also
| recalled TO mind that Jacob II. Sch'n' OF huhn,
Loeb & CO., had just returned from tour
| through the West with Mr. Hill.
Among the interesting features OF the Bail-
| more and Ohio deal the report that with
! the administration Of the Great Northern Kan
| wav and the Maryland road In his hands. Pres
! ident Hill would be able 10 form through Inc
! from coast to coast by bringing the chicago
| Great Western road into the circuit rms lt'-
fer road has been under excellent management
! Of late. and its reports from time to time sho"
| remarkable advances in almost every direction
| The road hes been making use, II II said. or
! President Hill's pet plan for reducing Operating
! exnenses on the basis Of the now famous train
| load Through the Chicago Great Western
! President IIill could reach Chicago and thence
| east over the Baltimore and Ohio
WHAT ONE OF Mr.. HILLS FRIENDS SAYS.
| One Of the closest business friends Of Presi-
dent Hill said:
1T Is true that Mr. Hi has gone into the
| baltimore and Ohio road. but as an investor ana
adviser He IL not seeking TO control mat prop
ertv neither Is II his purpose 10 make the Great
| Northern road a transcontinental line. To do
! that he would have 10 drop all his most cher
| ished plans There is doubt that the en-
| trance Of Mr. Hill and his associates into the
| affairs Of the Baltimore and ONO ROAD VIII
prove highly beneficial to stockholders of that
property With these new men VIII come new
| methods and q road that for many years mas
| bcen REGARDED as a hOodOO' VIII In my opinion
! become a paving property. ! cannot say TO
what extent Mr. Hill and his friends have gone
The reorganization plan Of the Baltimore and
! Ohio Railroad formally issued on Wedhes-
| dav June % 1895. The reorganization man
ayers were Speyer Brothers. Of London. and
| Spever & Co and Kuhn. Loeb & Co. or TINS
! city acting In conjunction with an ADVISORY
| Committee composed Of Louis Fitzgerald. r. X.
| Bacon Henry Bulge and William A Read, or
| the Reorganization Committee. with ALVIN w
! Krech as secretary and William c. CULVER as
| counsel The repositories named were the Mer-
camille Trust Company. In this CITY, ana lhe
| London and Westminster Bank. Limited, or
! London Among the firms giving their indorse-
ment and recommendation TO the plan We're D.
| p Morgan & Co. Brown Brothers & Co. Barring
| Magoun g. Co. Kuhn. Loeb e. Co. Vermilye
! Co. j. S Morgan & Co. Brown Shipley & co,
! Barring Brothers & Co. Limited. Speyer & Co.
| and Speyer Brothers.
| or the total amount Of the new non-cumula-
tive preferred stock 1000 was allowed for
purchase by the syndicate 10 provide cash re-
| auirements Of the plan. 1t Is this amount which
| Speyer e Co. announce has been disposed or.
| The control Of the company's affairs. by the
| terms Of reorganization was vested IN hve go
! called voting trustees for the period or nVe
wears as follows: William Solomon. Abraham
! Wolff J. Kennedy Tod. Louis Fitzgerald ana
! Charles II. COster
The Baltimore ana ONO i9iii,oau was 'idi
| tered in MARYLAND in 1897. At the present time
# operates 2095 miles OF track. having through
! communication from NcwYork to Baltimore
! and from Baltimore 10 Chicago In the days or
! Robert Garrett il was a splendid piece Of prop
! ertv. After his death the management became
! indifferent and on March l. 1896 the company.
| being unable 10 meet It's liabilities. passed into
the hands Of receivers.
| CONFERENCES IN CINCINNATI
PRESIDENT BACON or THE BALTIMORE AND
OHIO SOUTHWESTERN MAKES A STATEMENT.