The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-12-24
RECE|VERSHIP
WAS NOSURPR|SE
Such Action in Wabash Had
Been Expected for Long
Time.
GOULD SECURITIES COLLAPSE
There Is General Demand Tor
Full Publicity in Their
Railroad Affairs.
lspccial,o The T,mes.p,sp,

lSpccialrto The Times Dispatch1
New York, December 23.--ftcccivcr-
snip OF the Wabash and further col
lapse OF Gould securities were features
OF the stock market this week. stand
ard securities were strong and some
approached the previous high levels
OF the movement, Ltquidotlcn. how
ever, was evident in 5ehalf of some
or the leading operators. The market
is being maintained so that banks and
trust companies IN their reports at
the end Of the year may make good
showing. The january investment
movement has been anticipated by the
December rise.
The rccctvershlp for Wabash was no
snrprisc except in having been delayed
so long There is substantial eyidcnc..
that Union paciRc or som. other Rad
would like TO get control Of tn. prop
erty. and the protective committees
that have been formed are looked upon
as being In behalf OF some system
othcr than the Goulds. These commit
ices arc Offering to pay the interest
on the bonds as an .nduccmcnt for
their deposit Conservative bankers
are urging clients to rcfusc to deposl,
sho bonds because should night de-
velop for possession of the property
the bonds not deposited would be in
strong position and could bargain
with either eide.
Rcceivership OF other Gould proper
ties and particularly the Wabash,
fSttsburg Terminal and Wheeling and
Lake Eric has been OF peculiar ma.
ture. Testimony has been taken be-
nina locked doors and in secret, ana
tho settlement OF affairs has been post
poned for an unrcasona bic time There
is u general demand for publicity OF
Gould railroad affairs, and the secrecy
maintained leads the public TO believe
that there ia something the Insiders
DO not dare let the public know about.
Late In tho week Denver and Rio
Grande preferred collapsed TO the low
cs, price NJ which it has sold since
1897. Collapse OF the stock TO that
ieNci Is accepted as public notice Of
reorganization soon to come.
The Denver Ia, !avolvcd itself SO deep.
. By guaranteeing The intere., on tn,
western Pacific bonds tina; IL has beer
compelled 10 suspend .ts dividends. Pres
ont management OF the Missouri racinc
which includes the Denver and tho West
crn Pacific is understood TO DC good but
there arc some things that even good man
dscmeot cannot overcome.
Lchish Valley and Louisville ard Nash.
WIG declared nothing moro than the reg
u'ar dividends. although many person. ex.
ycciSd extra disbursements.
80" iOTh Central on Friday !ssIIed
notice TO eoHdholdcrs OF the Lake SAore
hat merger OF the Lake shore was con-
icmnla,ed, and asking their permission. i,
Is underwood that this m,rSer VIII no, b.
carried out Immediately. but the compln,
wants 70 put itself in position TO take ad :
vantage OF conditions for doing cheap A.
:. facinS. y biz bond issue may DC expected
rom the Central, therefore In tn, u,sr
tutare II Lake Shore OF Michigan ceatraE
insrSes With Central, Central will have 10
ISSUE bonds guaranteeing the bonds OF TIE
merged properties.
The American Tobacco Company released
the united Cigar Stores Company from
tho ;rust There was srca; .rreSulari,y in
tho market 20! tobacco subsidiaries. and
the cigar Stores stock sold under 200 to-
The hEst time IN years The company Will
open dhoua SO rev cigars stores In the
South this winter, and begin an aggressive
campaign Tor bushes Al! over the country.
British American stock hur: by re-
poEis OF damage 20 Its property In China.
Official announcement was made OF tho
merger OF the Inspiration Copper Company
with the Live Oak Copper Company
through the organ!za tioa OF tho Inspira-
zion Consolidated Copper Company. having
q capita! OF 100000 In shares o. so par