New-York tribune., 1905-02-25
n. Y. G. RUMORS AGAIN.
Report That Control of Boston and
Maine Had Been Secured.

The Stock Exchange speculation in Southern
iron and steel properties quieted down yesterday,
and the market became steady and strong. the
fear OF corner in Tennessee Coal and Iron or OF
a market contest for control diminished. In the
last hours there occurred sudden and sharp ad-
vance in New-York Central and Union Pacific,
which carried the whole market up and was ac-
cornpanied by various rumors. New-York Central,
which had opened at 14SR. was selling at 1509s at
o'clock, when the movement began which carried
it, heavy trading, TO l5513 at the close. net
gain for the day of IA points. Union Pacific had
opened with sales of 5000 shares 1907 to 49, and
had climbed to 1921 by O'Clock. In the last hour
it rose to 1876. a high record, and it closed SIS
points above Thursday at 1858, on total sales OF
go 900 shares for the day The convertible IS were
correspondingly strong, advancing from 1925 to
1375s and closing at the highest.
The principal New-York Central was
the often heard that control of the Boston and
Maine had been acquired, yesterdays variant of
the story being that New-York Central interests
had purchased 10000 shares of Boston and Maine
stock from the American Express Company and
had secured other blocks at private sale. Officers
OF the American Express Company declined to dis
cuss the report. President Tuttle of the Boston
and Maine said in Boston of story that control
of his road had changed hands, 1T may have
been consunlmated, but if so 1 know absolutely
nothing about it," Important local interests identi
fed with the New-York Central said emphatically
that the advance simply a market move, and
that no development regarding the property was
an aIIiance Of sone Sort S hatGean the WeWYnrk
Central and the Union Pacific was in coQternpla-
tion 1t may be noted, in confirmation of the denial
Of these interests, that on Thursday a tip" was
widely distributed in the Street that New-York
Central would yesterday sell at 1856
Illinois Central was the leader Of the Southern
railway group, closing at the best price of the day,
1913 It's ADVANCE @ Of rs points being connected with
a line from Kansas City to the Gulf. Another un
confirmed rpmor was that the railways which
control the Lehigh Valley road had agreed to sell
their holdings to the Gould interests at S92 50
share, thus giving the Gould system entrance
into New-Yor in return for Mr.. Goulds promise
70 do nothing which would disturb the railway
There was no change in the Southern iron and
steel merger situation yesterday. Tennessee Coal
and Iron WHICH o- closed on Thursday at 81, after
at 9S}2 gain Of "a points on Telativeiy small
dealings Sloss Shefied common, the floating sup
ply of which is small, advanced I points, to ll6.
and the preferred, sale of 100 shares declined
z, point According TO the best information OBJ
tainabe, the Hoadey syndicate is to take over the
majority of the Sloss-Sheftied common stock at
10, or points above yesterdays closing figure
Mr.; Hoadley was quoted yesterday Speaking
rather less confidently than the previous day Of
the liability that he and his associates had
secured control of the Tennessee Coal and Iron
Company.