Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-23
NEW YORK. STOCRSAND BONDS
Manhattan Traction Shares Are the Feature
of the Day, Trading.
MERGER or ALL LINES IS ANNOUNCED
Issues of Different Companies Al
vance Two 10 Eight Points-CIose
of Market IL Firm and
strong.

NEW YORK. Dec. 22.-Interest I'm the
stock market converged very largely In
panies. These issues were very strong and
active on the announcement of virtual
conclusion Of negotiations by which the
Metropolitan Street Railway company and
its allied interests came under control OF
the marlborough Rapid Transit company,
thus giving the latter interests practically
monopoly OF all the traction facilities on
Manhattan island Some sort Of deal
involving these important properties has
been expected for a long time, but Its
exact form was always a matter OF idle
The exact details of the deal were not
obtainable during market hours today, but
enough was learned to indicate that the
transfer would be effected on terms salts
factory to the purchasers. The new inter-
ests IN Metropolitan are said to include
with the Pennsylvania and other great
railway systems. So far as could be learned
the Brooklyn Rapid Transit company Is
not included in the deal as IL now stands.
but the fact that representatives OF that
company were I'm conference with the new
Metropolitan interests today was regarded
as more than a mere coincidence. Change
of control of Metropolitan Is said TO carry
with it important concessions in the way
of proposed subway extensions. II is not
unlikely that new securities will be issued
for those outstanding in the name OF the
metropolitan company. Al any rate, 1t Is
understood the transfer from old to new
interests will involve comparatively small
cash outlay.
Inc fractions leo the market from
the outset. thousands of shares of Metro
pohtan Street Railway and Metropolitan
Securities coming out at gains of from
to points Interborougi opened on the
curb with an advance OF over points
and was the feature of that market
throughout attaining a new high record.
Net gains of these Issues for the day were
pa for Metropolitan Street Railway. 81 for
Metropolitan Securities and for Inter
borough; Third Avenue railroad, which is
leased by the Metropolitan. gained 5ls
points, Transactions In these stocks as
a group constituted the major portion of
the days business. although the general
market became broad and active in the
face of a 16 per cent money rate. The
prevailing rate OF the day, however. was
Shares of the Pennsylvania railroad and
subsidiary companies, including Reading
Baltimore Ohio. Chesapeake Ohio,
Norfolk & Western and Pittsburg, Cncin-
strong. Long Island railroad. also Penn
syvanis stock. which is expected to profit
material advance. Union Pacific went
! TO new high record. and an active demand
! for Southern Pacific advanced that stock
point: ST. Paul and the Northwesterns
and Atchison participated in the days
| general advances. The only high class
railroad issue to display weakness was
Aside from the movements in Sugar and
| Virginia Carolina Chemical, there were ne
noteworthy movements in the industrtai
group. Surprise was expressed at the fail
ure OF the United States Steel issues &c
| make more immediate response to the
| favorab BILE trade conditions.
The market reacted slightly in the las
| hour, but rallied in the final trading, ant
! the closing was strong. London wai
scarcely a factor here, trading in less than
! 1900 shares, practically all sales.
Forecasts Of the weeks money move
| ments point to a small gain by the banks
| despite the very heavy outflow.
| Bonds were steady Total sales, pal
value $4,000 United States new 4
| declined u per cent on call.
Quotations on the New York Stock eS
| change ranged as follows: