The Providence news. (Providence [R.I.]) 1891-1906, 1902-04-26

In scarcely seven weeks the stock of
the Consolidated Road has advanced from
SOS to SPAS per share; that IS, il was
Listed at the latter figure when the local
market closed at noon today. and the
same is equally true as TO the Boston and
New York stock markets
And even at this high figure there were
few who cared to part with the gilt
edged stock
The Consolidated guarantees seven
per cent annual dividend on the old
Colony stock, but instead has paid for
several years past eight per cent TO
the stockholders of the other leased lines.
NEW YORK CENTRAL RUMoR.
But the latest rumor in brokerage and
railroad circles on account OF the con-
tinuous movement i'm the stock of the
N. ", ~. H. a III. Railroad company, Is
that the New York Central-and not the
Pennsylvania Railroad company-is after
the Consolidated.
Even the recent emphatical denial OF
President Hall OF the Consolidated, while
IL may have had a temporary effect TO
divert brokers and investors from the
direction OF the Pennsylvania corpora
tion as well as the local insistence. is
urged that the Vanderbilt interests have
ctnered the field in competition for the
property.
In fact. Il is intimated that a certain
New Haven broker has for some time
past been quietly gathering in Consolida-
ted shares and he is in the employ of the
Nanderbilts. 1t is impossible as yet TO
learn who has become or win be the
original holder OF such stock from the
transfer books. Such stock secured has
not yet been transferred and need not be
until the time OF the next quarterly div
idead
FACTS AND FIGURES.
There are those who claim that the New
York Central acquired $l,5oO0O0 OF the
Consolidated road stock last year and al
so added a large quantity OF the more
than si6, 600 debcnture bonds.
These bonds are convertible into stock
In April 1902, and, IL is asserted, that the
New York Central interests will be found
when this conversion Is made to give II
control of the system. But this seems
preposterous, say nothing of impossible.
And again those who argue on the Van
derbilt side say IL Is by no means reason
able TO think that the New York Central
could ever allow the Pennsylvania TO get
permanent foothold I'm New England
The Consodated's stock paying eight
per cent dividend. is given as $54. .6S5 coo.
The debentures figure up Sl6.391 600. max
ing total of $Ii.0S2, 900 for the road to
pay eight per cent on after April of
next year. II will, therefore, 10 take an
investment of approximately $50 600. 900
for the New York Central or Pennsyl-
vania to secure control after April of
next year.
ATTORNEY BUCKLANDs DENIAL.
Edward c. Buckland. Esq, attorney
and claim agent for the Consolidated
road. whose office is in the new Union
station, this city cheerfuly received a
freely.
When acquainted with the rumors, he
smiled suggestively and said:
why. / don't. for moment have
the least faith I'm such rumor regarding
the New York Central or that pertaining
10 the Pennsylvania road exploded by
our president John w Hall and Director
Osborne OF New Haven. during the week.
Another fact was II not promptly de-
MED by President Cassatt OF the Penn,
sylvania road?'
The reporter acknowledged the question
with affirmative replies and then At
torney Buckland continued
THE only reason | can give Is our
latest move 60 shorten the time distance
between Boston. New York, PHILADELPHIA
and Washington by from one TO two
hours.
Aht ol Nne So-fhieu w ara q
Island bridge across the East river. con-
Meeting the Long Island railroad OF the
Pennsylvania system with the Port Nor
ris terminal OF the New York. New Haven
a. Hartford Railroad will permit this
through rail connection by rail
The fact, however. should not be lost
sight Of that right along we have water
connection with the Pennsylvania by
water, and the new move Is simply "a
save time for passenger traffic and will
not effect freight facilities.
RUMoRs ARE ABSURD.
. Now let me cite you another fact to
how YOU how absurd the rumors are:
The stock OF the n. ". n H. a. IT.
railroad company numbers about 540.O .Oof
shares and the holders are scattered ali
over the country. They comprise mostly
small Investors. who have received their
dividends regularly, apparently salts.
fed az the good returns. seldom looking
az their stock certificates from year to