The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-11-30
FINAsorAL AND COMMERCIAL.
WEDNESDAY,. Nov. 20.


Although the current reports OF an Important
trunk line deal still lack authoritative conhr-
nation and continue TO elicit denials from
officials OF the companies alleged to be most
directly interested, the fact remains that capi-
talists identified with the management
OF the Pennsylvania Railroad. including
the President OF the company. have recently
acquired a large amount OF the stock OF the
Baltimore and Ohio Railroad Company. These
holdings. together with those OF President Hill
OF the Great Northern Railway Company and
his associates. are sufficient to control the
policy OF the Baltimore and Ohio system. and IL
Is Understood that the two interests will work
in harmony In developing and managing the
recently rcorganized trunk line.
This alliance, together with one OF some
standing between the Pennsylvania and the
New York Central systems will obviously sim
pllfy the trunk line situation, make the main
tenance OF rates easier and more certain than
heretofore and permit OF the Introduction OF
many economies. II is estimated that the
dminution OF competition. the Joint use OF
terminal facilities at various points and the
interchange OF trackage rights will result In
savings Of at least S1.0000O0 to the two sys-
tens As the transaction 10 as yet practically
an individual one. Il Is easily seen that Official
denas may be as truthful as they are profuse.
Now that the facts about tho matter are be-
coming public. the speculation In Baltimore X
Ohio issues. in Pennsylvania and in New York
Central has fallen to normal proportions and
realizing sales left all Of the stocks named
fractionnlly lower than yesterday. The market
rs a whole was dull. as is usually the case be-
fore holiday. U. s. Leather common supplied
nearly half OF the total transactions and further
liquidation left It g.. per cent lower than
yesterday. The stock has now very nearly re-
turned 20 the figures at which IL was quoted
before tho recent remarkable display OF pyro-
technics in 1t. The break in Leather did not
have much effect upon the remainder OF the
list and tho reaction in the trunk line shares
seemed to DO regarded as q matter OF course.
There was effective buying OF Northern Pa
citlc stocks. OF Sugar Refining. Federal Steel
common. Manhattan Railway. Atchison pre-
ferred and Union Pacific issues. The improve
ment In Manhattan Railway was explained by
tho announcement OF progress made toward
equipping tho system with electric motive
power. Dividend prospects accounted for the
advances in Northern Pacific and IN Federal
Steel. There was further sharp advance In
Iinseed Oil preferred and the common stock
moved UP point in sympathy.
London was a fairly good buyer taking fully
10000 shares. Sales OF Government bonds to
tho Sub-Treasury aggregated 81 SIS. 17a, max.
Ing the total disbursements on this account
s1O.4oS.100. Corporation payments on ac-
count Of interest due Dec. l are estimated by
the Daily Stakeholder at sl5.666,3l2 as against
1880. 3O7 last year. and dividend payments
at S21 .90S,5e0 against s21. 6s4.497 last year.
Total payments are estimated at s3I.574 .s52
in 1895 The closing OF the. stock market was
quiet, bat in the main very firm.