The Washington times., 1905-12-23
RAILROAD LIST
STRONG FEATURE
Union Pacific Reaches High
Mark.
BULL CHRISTMAS MARKET
For Second Time in Brokers Recollec-
tion-Anaconda's Sensa-
tional Jump.
BULL CHRISTMAS MARKE7

NEW YORK. Dec. 2S.-strength in the
railroad list was a feature from the
start Union Pacific advanced TO nearly
80
United States Steel stocks were in re.
neweG favor. The prominent stocks were
the fractions, but they were not strong.
and rather erratic throughout.
The sensational feature of the day
was Anaconda, which opened a point or
more higher, and during the last half
hour made 4, remarkable record OF 2314
higher. Toward the close it reacted 5
points. The closing tone was wholly
Irregular. The standard list was gen
orally heavy.
The principal thing about the stock
market was that for the second time in
brokers memories. ii marks bull
Christmas. There was nothing weak on
the list except Metropolitan shares, and
they have advanced enough since Mon
day 10 satisfy any buyer in the early
part OF the week with his possible profits
today
The Street was full of bull points on
Union Paciffc, and $50 was predicted for
II before the close. 1t sold hgn as
1891. and then feIl one point. but rail-
lied back above lly in few minutes.
Anaconda made an extreme gain, ad-
vanclng 10 ~ against 1874 at the close
yesterday. Amalgamated shared in the
general strength AMI rUse - 10 S5ss-
steel common advanced Ia 10 S9ss, sold
at the highest price OF the year, and
preferred on good buying, SOLD at 1854,
an advance OF a.
There was no selling pressure IN any
quarter except in the local stocks and
the disposition OF the room and street
was 10 buy stocks anG aold them for
an advance after the holidays. Govern
ment bonds unchanged: railroad and
hnrdG -
The London Erchange, the New York
Cotton Exchange, and the New York
Coffee Exchange were closed today.
Wall Street had quite a shock when
the announcement was made near the
close OF the call on yesterday that Au-
gust Belmont had purchased the entire
holdings OF Thomas F. Ryan In the Met
ropolitan Street Railway and the Metro.
politan Securities. Vague rumors hac
been in circulation regarding il, but they
were given little credence. and the pub
ncation Of the fact was a real surprise
The Brooklyn Rapid Transit Company 1:
not concerned in the deal which gives
Mr.. Belmont complete control of all tn,
transportation systems of Manhattan
Island and the Bronx.
Details are still lacking regarding the
terms Of the local traction merger. al
though In general way IL is understood
that holding company will be organized
10 take over the securities OF the Inter
borough and Metropolitan Securities
companies. The chances are that the
guaranteed dividends on the Metropoli-
tan Railway would be reduced TO 8 per
cent, which is a contingency that will
no doubt be accepted by the stock
hoiders IN view of the greater security
Offered by the guaranteeing company
AT the early opening of the marke;
the selling of Metropolitan Securities
became quite pronounced, losing a fui
point in the first twenty minutes
The London Stock Exchange was
closed and viii remain so until Wednes
day morning The Paris and Berlin
bcurses were also closed today.
Ii Is stated that the annual report oi
the Peoples Gas Company, of Chica go
Will show a surplus OF $4,000, which
is in increase of 81 200, coo for this
year. With the reduction in price o
gas to 80 cents. il is estimated there
will be a loss OF revenue OF abou
$4,000 year. The company has &
balance in bank stated at nearly
100000