Evening star., 1909-02-15
EXTENSIVE ADVANCES
Very Few Exceptions to the
Common Drift of Prices.
LONDON A HEAVY BUYER
Erie Shares Particularly Strong in
That Market.
NOTABLE RAILWAY CHANGES
Atlantic Coast Line and L. & N.
Striking Features-Local
fractions Firm.
NOTABLE RAILWAY CHANGES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 15.-There were
plain enough reasons for the striking ad-
vances which We're scored in several
stocks in today's ma rlxet. while the equal
1y extensive gains recorded in other Sc
curities had no better explanations than
in rumors and general trading condi-
tions. The stock market was however,
generally strong and there were very
few exceptions to the common drift of
prices.
London houses were large buyers upon
the opening of business and purchased
on balance upward of 10000 shares.
American stocks were very strong in
the London market over the local holi-
days and were quoted this morning well
above parity. with New York'S final
prices of Thursday The Erie shares
were particularly strong in the London
stock market. and enjoyed corresponds
ing rise in the local dealings.
The NOV ovement in that quarter was of
course. . referable to the decision
reached by the public service commits
sion Saturday authorizing the issue
under certain restrictions of the S:SO.-
100000 collateral trust bonds for which
the company made application a num-
ber of weeks ago. There was no little
comment today upon the restrictions
upon the issue imposed by the commits
granted exercised a favorable effect
upon the Erie securities.
Peoples Gas Advances.
Peoples Gas opened at an advance of
more than three points from its final
sales of last week. and retained its i'm
provement very well with the course of
the business session In that instance
the noteworthy rise was accounted for
nounced at the close of business Thurs
day to establish the stock upon per
cent annual basis beginning with the
next declaration period.
Advances measuring up to those noted
In Erie and Peoples Gas were registered
by Atlantic Coast Line and Louisville
and Nashville. and in both instances ru-
mors took the place of exact facts. the
former suggesting increased dividends
on both stocks.
Other substantial advances in the rail
way list took place i'm st. Paul. Union
and Southern Pacific. Reading. Northern
Pacific and Great Northern preferred In
fact Norfolk and Western was the only
conspicuous exception to the general tend
ency of the railway list and the con-
frary course of that stock was not Spe-
cif1cally accounted for.
The local traction shares were firm. but
comparatively dull with the exception of
Brooklyn Rapid Transit.
1ndustrials and Miscellaneous
The industrial and miscellaneous shares
exhibited the same general tendencies
displayed by the railway list. Amalga-
mated Copper was relatively heavy. prob
ably in connection with another reduction
in the selling prices for the metal.
Material gains IN this quarter were
scored by Consolidated Gas. American
Cotton Oil. Virginia-Carolina Chemical.
American Agricultural Chemical and Gen
eral Electric. The United. States steel
shares were also decidedly firm
There was a large increase in respect
of activity in comparison with Thurs
days aggregate. although the volume of
business was considerably restricted by
the interference with the telegraphic serv-
Ice resulting from the severe storms in
the western states.
Money market conditions showed little
alteration. while the rate for sterling eX-
change declined sharply.
There was very little to be adduced
In connection with the general strength
OF the market. and in the absence of a
more direct explanation stress was laid
upon the early change in the federal ad-
miniStration at Washngtom