Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-22
Upward Movement in Trac-
ton Shares.
EXTENSIVE HEADWAY
YESTERDAYS ACTIVITY CON-
TINUED ON CHANGE
marlborough May Have Secured Con-
troll of Metropolitan
System.

Special Dispatch to The Star
NEW YORK, December 22.-The upward
movement in the local traction shares upon
the stock exchange and in interboreugn
rapid transit in the curb market, which be-
came well defined in yesterdays dealings,
made further extensive Roadway today. out
of the mass of rumors and gossip which at
tended the rise In these stocks certain con-
victions seemed to find general acceptance
notwithstanding that 1t was Impossible dur
ing the greater part of the day to obtain
any authoritative announcements as to the
real status of things. In the absence OF
any, 1t was believed that a controlling IN
terest in the Metropolitan system had been
secured by representatives of the Inter-
borough Rapid Transit Company. 1t seems
doubtful whether the final negotiations 10
this end have been concluded. but II no
confirmation of the reports in this direction
could be obtained. neither were there any
denials Forthcoming.
Often Deceived.
Wall street has been deceived SO often
with regard to merger reports relating 10
the local traction companies that 1t was
rather slow to accept todays iutimauohs
uhtil they found some verihcation upon
the stock tape. According to the stories
current today the Brooklyn Rapid Transit
Company will not, for the present at least
figure in the transaction, assuming there Is
one, and that stock was somewhat reac-
tionary after an early smart rise. 1t can
be said with truth. however, that wan
street will welcome the final disposition OF
one of the most impenetrable questions
with which 1t has had to contend for many
years. The movement in the Metropolitan
stocks and in Interborough Rapid Transit
was by far the most striking feature O. the
days market, but by no means the only
one.
Market Firm.
The market as a whole was extremely firm
despite the continuance of high rates for
money and the absence of any novel de-
velopments of what might be called con-
structive character.
London took little part In the days deal
ings, and prices there were generally de-
pressed, with American stocks sharing in
the common tone. Much interest was taken
In the publication of the preliminary esti-
mates of the principal movements in cur
rency during the week on account of the
heavy transfers of funds to Chicago in con-
nection with Mondays bank troubles In that
city. These indicated variousy that the
banks had incurred a net loss of less than
81 100000, while other calculators figured
out a gain of about that sum. In their
dealings with the subtreasury since the
compilation of last weeks bank statement
q favorable balance to the banks aggregat-
ing over s2000,000 was shown.
Call Money High.
The difference is represented by the ball
ance between the banks direct express
shipments to Chicago and their direct re-
ceipts from the interior. Money on call
opened as high as 16 per cent. and during
the greater part of the day ruled between
that figure and 10 or II per cent Scant at
tention was paid to the routine news of the
day. Of which. in fact, there was very little.
In the railway list the most striking move
ments were those which took place in
Union Pacific, Pennsylvania, Baltimore
and Ohio and the other related Pennsylva-
MIA stocks. Reading, Atchison and st. Paul.
The Vanderbilt stocks were rather less
conspicuous than they had been for some
time past. Nothing in the way of news,
and little that was new in the way of gos-
sip. could be cited in connection with the
movements in this quarter. The industrial
and miscellaneous shares We're generally
firm, in common with the other depart
ments of the market.