Show Geald Had New York 22 Eegarding the talk of a new stock exchange the Times report says Jay Gould has not been accorded that treatment by the Stock Exchange towhich he be lieves he is entitled More than once the governing committee of that institutionlias taken action unpleasant un-pleasant to him and more than once has the story been started of likelihood likeli-hood of an opposition exchange with Jay Gould at its head Never till yesterday however would he acknowledge he was or could become in any way interested inter-ested in such a prospect but the recent action of the governing committee in declining to recognize his stamped 6 per cent Metropolitan elevated railroad stock as good delivery de-livery for borrowed Metropolitan 10 per cent shares nettled him to desperation des-peration and his threats since have been neither few nor mild Russell and Field have been hand in hand with him in his new project They have had daily conferences They have avowed their intention of placing plac-ing their hoase upon a radically different dif-ferent basis from that of the existing exist-ing Exchange which in methods and in scope they criticised as being behind the age and managed by old fogies In connection with the new exchange said a representative of Mr Gould there will be established a bank and trust company The bank will be for the use of members of the exchange and all transactions trans-actions of the exchange will pass through it thus discontinuing all risks in stock deliveries and wiping out the trouble connected with the system of certified checks in vogue at the present Exchange Such a bank will be to all intents a clearing house The trust company com-pany will serve members in the matter of their deposits in contracts con-tracts and will also be available asa as-a transfer office These are features of enterprise of themselves and will insure the thorough success of the project and they are features which the present Exchange will never be enterprising enough to adopt The old cannot hope to compete with the new The announcement was made that capital stock amounting to 5000000 had been subscribed Seats will not be sold as in the present Exchange but 5000 of stock the Gould party prophesy will immediately pay big dividends and it entitles the operators to all privileges and a full membership A new building will be erected the site being already chosen on Broadway Broad-way Wires are to be run direct to every city in the country and upon the floor of the exchange will be given a special cable connection with London Paris and Amsterdam Amster-dam and other European centres Many heavy capitalists are named as associated with Gould among tho names Yanderbilt Sage Deems Dillon Huntington Mills and Jewctt as well as others in Chicago Cincinnati St Louis London Paris and elsewhere else-where and of the stocks to be taken from the present Exchange and listed with the new the following were mentioned New York Central Cen-tral Canada Southern Texas Pacific Pa-cific Central Railway New Jersey Lake Shore Western Union Man nattan Elevated Wabash Union Pacific New York ElevatedCentrai Pacific Michigan Central Pacific Mail Metropolitan Elevated Northwest North-west Missouri Kansas and Lacka wan |