Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-20
Union Pacific Continued Dom
inant Factor Today.
DEALINGS WE'RE LARGE
MOVEMENT SAID TO BE BASED ON
MERIToRIoUs FACTS.
Notable Activity in st. Paul secu1-
ss zties-New York Central Moved
ssa Il sa Up With Vigor.

Special sDispateh to The Star.
NEW YORK, December 2o-Union Pacific
continued today to be the dominating and
HI overshad downing feature OF the stock market
Dealings in it were again in very large
volume, and another new high record price
was established.
1t is not said of this stock as of some OF
the other issues that have been from time
ito time prominent in the dealings making
great advances on large transactions that
its rise is calculated to unsettle the rest OF
1.-THE list.
On the contrary the bullish influence Of
its leadership was once more demonstrated
Il In imparting a steadier tone all around IN
the face of such unsettling factors- as the
heavy liquidation in Peoples Gas, which
- broke the price of the stock below par, and
further pressure on Southern Pacific. which
Is now about five points below the level
maintained prior to the publication of the
annual report, with It's plainly worded init
nation that the Inauguration or olViueHus
not imminent.
i1 Nothing particularly novel was adduced
today on this subject, but willingness to be-
strengthened in speculative quarters by the
further coincident strength of Great North
ern preferred and Northern Pacific.
The strength of st. Paul might be relited
III
cited but just at present there are develop
II ments pending of particular importance 10
the ST. Paul securities
h New York Central, stock which Is not
without relationship to the ones already
referred to- moved up with aggressive v Sor
during the day, but this was AZ event that
rather fulfilled the expectations of Il GER
tain portion of the speculative community
which always looks for a rise In the All
derbilt issues about this time of the year
The unfortunate wreck chronic-ed tbs
morning was no more of FACTOR IN gov
erning the course of New York Central dur
ing the day than was the disastrous IRE on
the West Side water front influential in the
market for stock of the Lackawarna
Speculative Participation.
There is unquestionably very large
speculative participation In the movement
which Is carrying the price of Union Pa
cifc so strongly upward. 1t Is neverthe-
less considered in well-informed quarters
to be movement based on meritorious
facts which will transpire later. even IL
these facts include little more than the
commonplace declaration of an Increased
dividend. There Is large BODY OF gossip,
= conjecture and rumor which Is rapidly
crystallizing into a Union Pacific legend,
and it seems to be almost too early to an
alyze- it for its contents of truth.
i. Neither did 1t appear that the numerous
Vanderbilt dividends declared today, nor
the splendid statements of earnings played
any important part in the considerations
r underlying the advance in the senior van
derbilt issues, although the dividend
declarations included an increased disburse-
nent on Lake Erie and Western preferred
ana the first disbursement on Rutland pre-
ferred that has been made m a long time
was the New York Central report of earn
ings showed great gains for the year.