Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-11
TELEPHONE REPEAL FINANCE AND TRADE
Effort to Put It District Prices Somewhat Higher
Appropriation Bill Than on Yesterday.
DOUBT OF PASSAGElTHE GOULD STOCKS
TO DEVELOPED
COMPROMISE
to Cover Contra and Booming
Group
PricesW ere Somewhat Higher
Than on Yesterday.
THE GOULD STOCKS
DEVELOPED GREATEST STRENGTH
IN THE MARKET.
Standard Oil Interests Still Said to Be
Booming This
Group.

Special Dispatch to The Evening Star.
NEW YORK. February 1.-THE quota
tons from London this morning on Ameri-
can railways showed general declines. but
this did not have the effect desired on our
opening by the room traders here who sold
stocks yesterday. going short Of the market
after taking their profits on the long side
OF the discount on yesterdays early adj
vance.
The local stock market. to be sure. was
somewhat irregular at the start, but in
nearly every instance prices were from u
to h per cent above yesterdays closing fig
ures
The most strength was shown in the
Gould stocks, Missouri Pacific, Texas Pa
cffic and Wabash issues. all evidencing good
rallying powers, and they came in for most
Of the activity in the initial dealings.
It is still stated that the Standard Oil
interests are not through with the upward
movement in this group OF stocks, and 1t
Is also limited that the holding or unifica-
ton plan is not as far on. possibly, as the
street believes.
1t was said some time ago that the Gould
plans In respect to holding company
would probably not be announced untn
after decision IN the Northern Securities
case. but 1t Is now limited that the two
plans are not at all similar, in that the uni
hcatton OF the Could systems as none of the
roads to be consolidated compete with each
other. nor do they cover the same territory,
as in the case Of some Of the Northern Sc
curittes systems.
Missouri Pacific opened up Is and gained *
further on good buying: Wabash preferred
gained l per cent, but the 3D." bonds on
profit taking sales lost y per cent, but later
more than regained the loss.
St Paul opened up n percent. but lost its
gain and \ besides before the end Of the
dealt in actively. but It is quietly reported
that the Standard OIL interests are picking
1t up.
The Erie issues and the Pennsylvania
and New York Central stocks acted lit
tie heavy. In the first named stocks the
quarterly statement ending December 81
last shows surplus after fixed charges
of 81, 1924. 700. an increase of 81. O23.O5
Union Pacific, Baltimore and Ohio, Ca
madam Pacific and Southern Pacific all held
shares also received fair support.
Quo warranto proceedings. begun In Den
yer, as announced this morning, did not
affect the price of Shelters adversely: on
the other hand, both classes Of this security
disclosed good buying orders and advanced
in price, The early advance In General
Electric was attributed to reports Of a re-
newal of negotiations with the Stanley
Electric Company. If satisfactory arrange
ments are completed. stock dividend of
considerable value will likely go to General
Electric stockholders.
Sales Of stocks up to the noon hour were
239 900 shares, a falling OFF from yester-
day, possibly due to a desire on the part Of
some of the traders to make no new COM
mitments until after the holiday tomorrow,
in commemoration of Lncoln's birthday.
The market improved some in the second
hour, the Eries being especially strong on
account of the good quarterly statement of
earnings.
In the afternoon trading there were some
irregular price charges, a majority OF the
list showing fractional declines from the
highest figures of the early morning specu-
lation. with the exception Of the Erie is
sues and Baltimore and Ohio common, the
former rallying nearly joint on buying by
room traders, the latter stock holding well
the " per cent improvement scored soon
after the opening. Expectations of an early
passage of the Aldrich bill. however, de-
tered short selling, and gave new courage
to the larger interests, who appear to be
back Of the improved market Of the past
few days.