New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-04
WALL STREET AND EXCHANGES.

Ex-Governor Roswell r. Flower Will sail the
Normannia for the Mediterranean to-day. While
away he will visit Egypt, the Holy Land and Con-
stantinople. He will h. accompanied by his
nephew. Frederick 5. Flower. and their families.
He said yesterday: Il have the utmost confidence
in the business situation and In the future OF the
stock market II ! dd believe the market
would advance 1 certainly should not 90 away.
Stocks that have merit bound 10 advance, with
the situation as II now Is. There is plethora or
money and no other investment safe and profit
able is open for It's Capital must find employ
ment. 1t cannot afford 10 be idle and stocks with
merit certain TO attract it, and the buying is
likely 10 Increase at greater ratio in the i'm
mediate future than II has during the last six
months Railroad properties, rule, In
better shape than for long time and the heavy
Increase IN business and in earnings will have no
material cessation for the next year eighteen
months ! GO away perfectly sat 1s WITH the the
will be left far behind before my return three
months hence
c. p Huntington said yesterday of the default
In interest on January by the Central Pacific
Railroad This is the first default made BY
the Central Pacific. This is remarkable show
ing compared with the history OF the railroads
of the country. It expected that when the
Government debt became due some arrangement
would be made 10 satisfy II. Negotiations on this
point have been and in progress between
the Government and the company. Both interests
are in harmony. / think reccivership would be
a bad thing. The receipts Of the company would
fall of one-thrd in case OF a receivership fore
closure could be arranged by the Government
without the necessity of a receivershp OF course,
The will be talked about in Congress. At
the present time there are a dozen men In Con
gress preparing bills for conhscatine and burning
the property, but they only /, few OF Az.
ana I DO not think their action will have any
weight"
The Gold and Stock Telegraph Company supplies
stock tickers to banks trust companies and others
not members of the Stock Exchange. Stock Elk
change members are supplied by the New York
Quotation Company. the control OF which is owned
by the Exchange. AT l:55 O'Clock yesterday after
noon all the Gold and Stock tickers stopped. On
Friday last a valve In the regular engine. which
generates electricity. No. 6 Broadst.. gave out
and the extra engine put into strap
on the connecting rod OF the extra engine broke
Yesterday and the Gold and Stock Company had
10 shut down entirely. The company operates 100
tickers. $50 OF which are In New York. The others
are In Brooklyn, Jersey CITY, Newark and Morris
town The Gold ana stock company also has
grain. coffee, cotton and petroleum tickers The
tckeTs will all be working to-day.
George ~ wheldon 81 Co, bankers and brok-
ers" at No. IS Broadway. made an assignment yes
terady 10 Arthur Hartsell a clerk in their employ
Their liza bilities said be 5000 and their
assets 1900 They kept q bucket-shop The bust
ness was started two years ago by James T. Taylor
& Co A year ago Il was acquired by James / Nc
Cafi!l who recently sold out q Whedon * 20.
John Henry Clews was yesterday admitted 10 the
firm OF Henry Clews & Co. taking the place Of
the late Charles NJ. Foster When the announce
rnent of his admission TO the firm was made on
the Stock Exchange. Chairman Mcclure extended