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To Truth in the Story About the Western New York Pennsylvani Referring to the story regarding the future of the Western New York Pennsylvania, the Philadelphia Record of Wednesday said: “To the local market there was great activity in Western New York Pennsyl vania under the manipulation of a bull pool that appears to have been formed for the sake of giving it an upward qmoovement. A story was floating around saying that the Pennsylvania sought to obtain control of the road in order to checkmate the movement of the Van derbilt people in forming western con nections for the Reading, Pennsylvania people laughed at the story and said there was no truth in it, but it may have been circulated by the Vanderbilt inter est for the sake of inducing realization by those who read of its falsity. In the meantime there has been a great deal of activity among the Reading managers in an endeavor to perfect connections between the Heading and the Vander bilt systems, while the Pennsylvania agents have been equally active in their endeavor to prevent such combinations.” ‘The Press also said: * Pnere has been a revival of specula tive activity in long neglected Western New York Pennsylvania, the sales in this market for several days back amounted to 2,000 shares and upwards. The stock shared fully in the late de pression, having declined to seven, and it has shared in the advance less than any of the local specialties. The com pany is making slow but steady progress toward an improved position, and the completion of a short branch new build ing is expected to bring it a considerable amount of new business. The second mortgage bonds are also appreciating in value, and in another year the interest which has heretofore been settled in script, will have to be paid in cash.” There are other good reasons for say ing it is not likely that the Pennsylvania or any other road is buying the stock of this road, but it is not now necessary to go deeper into the question and it can be held for future discussion.
Newspaper Details
Olean Democrat
Olean, New York, US
Thu, Dec 31, 1891
Page 14
Full Page
Clipped by
Anonymous
USA 20 Jun 2026
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