This Stock has been run up by purchasers for the fall; and, though in
October last it somehow touched 117-3/8, it is now standing at 9-1/4,
and, spite the rumours of increased traffic receipts (due to the fact
that a family drove up to the station last week in a cab), artfully put
into circulation by interested holders, I would certainly get out of it
before the issue of the forthcoming Report, which I hear, on good
authority, not only announces the payment of no dividend on the
Debenture Stock, but makes the unwelcome statement to the shareholders
of the prospective seizure of the whole of the rolling stock under a
debtors' summons, a catastrophe that must land the affairs of the
Company in inevitable bankruptcy. Under these circumstances, I do not
think I can conscientiously advise you to "hold;" still, you might watch
the Market for a day or two; but, at any rate, take my advice, and get
rid of your "Crocodiles."