The times. [volume] (Washington [D.C.]) 1897-1901, 1900-12-16

Inc MOTSdHS nave dCafiNcteu the mar
ket during the past week. 1t has been
these people that have bought stocks heav
lily; 1t has been they that have started the
upward movement when the entire profess
sionl world was bearish. 1t has been the
name of J. P. Morgan that has been con-
| jured with in the commission houses in
| the same way that it was with the name
| Of Governor Flower, that wonders were
| worked two years ago. And to the extent
| that Mr.. Morgan is bigger man than was
| Governor Flower and represents and
stands for far greater interests is 1t en-
| tirely probable that the boom Of 1900 1901
| viii be bigger than that OF 1S9S-l399. 1t is
| said by people not given to romanci2g or
| to excessive enthusiasm, important imam
| cial people, that this Millionaire group that
| controls so large part of the railways
| OF the country intends 10 make the boom
| of the coming months the most renarkabl
| ever seen. a man who came back from
| New York this week, after somewhat ex-
| tended visit 10 Wall Street, expressed il
| that the Morgan CLIQUE intends 10 float out
| everything it possesses during the year.
everything 1t has held for five and ten and
| twenty years and been unable to dispose
| Of, and much that 1t is now buying in adj
| dition. This Is the cynical way Of stating
| the situation, but resolved into its final
terms undoubtedly 1t is what will occur 1t
,
Mr.. Morgan and his friends expect i'm
mense prosperity everywhere, and believe
, that stocks are legitimately worth much
more than they are now selling for.
The activities of the AIorgans this week
have been IN the coal securities largely,
and at the same time the most important
news of the week marketwise has been
that of the sale of the Pennsylvania Coal
In VI. Marian mr. he Rail
way. deal which. in itself, and with no
further developments. meaDs that the an
thracite zeal situation is In better shape
than it has ever been before. There is to
be no opposition coal road via Kingston.
There is to be no opposition TO the Coal
Trust anywhere. The situation is in its
hands, 10 do with VIVA: it wishes. Prices
for coal will be high. higher than at any
time before. probably, and continuously SO.
But there are further developments in
the railway situation along this same lire
Of concentration of ownership and com
munity of interests" that have been for
warded during the week and will be an
nounced before long undoubtedly. II will
be these rev deals that VIII furnish he
additional stimulus to the public when
it is needed The best Information now
seems to point to an extension of this
community of ownership plan to the Pa
cific Ocean along one II not two or three
arteries Of transportation.
St. Paul was perhaps the most buoyant
stock on the list Friday and yesterday.
The low price of Friday was below 127.
and the close yesterday was 132 Is. Pres
ident J. ]. Hill, of the Great Northern,
man almost as prominent In the railway
world Mr. Morgan. was heavy buyer
of the stock and apparently there is a |
connection Of some kind between this |
buying and that of the Morgan clique. IL !
Mr.. Hill may not indeed he considered n |
member Of this clique. 1t is now said |
that this gentleman will be elected a |
member Of the st. Paul directory.
These deals and rumors of deals have |
been reflected in big bulges in the an
thracite coal securities generally that |
have been expected for long time. but |
have not appeared until within the past |
few days. They have been shown in buoy
ancy In the grangcrs. led by st. Paul. and |
in the Pacifics. led by Union and North
ern Pacific And more than this. they |
have galvanized into activity the dead !
ones" all over the list. the low priced Sc |
curities that move only once year if as
often as that II is entirely probable that