The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-01-19
6OUlDS TO HAVE
STRONG BACKING
L REPORT HAS MORGAN AND CON-
PANY FINANCING RAILWAY
PROPERTIES.
WESTERN UNION IS UP
REPORT HAS AMERICAN TELE-
PHONE COMPANY TAXING OVER
ALL OF PHYSICAL
PROPERTIES
-p.- THOMAS G. sHoTwE.I.

NEW YORK, Jan. s--Although
foday's session in the stock market
was quiet. evidence OF strength vas
seen hare and there in the special
ties. The standard issues were near
iv ALI quiet and Union Pacific was
reactionary. Perhaps the hesitation
of this department Of the market
was due 70 the failure Of the st
I Paul directors 10 take action on the
dividends at the regular meeting,
The St Paul dividend Is TO be taken
up next week.
So fss1es that -41sptaved strength were
Western Union. National Biscuit. Jer-
sey Central and Reading. The Street
persists In the belief that deal OF
Importance has been planned In
Reading A firm of bankers identi-
bed with the Rock Island interests
is advising the purchase of Read
ing. and this fact gives the impress
sion that the Rock Island people are
In t. This would not be surprising.
as that group Of operators has charge
OF the market Just now by common
3 consent Jersey Central, which fig
nres in the deal. made its daily new
high record today at $40. The new
high record made by National Biscuit
-Me-- simply cumulative evidence of
the work of the Rock Island group.
Western Union Active.
Western Union sold at the high
EFT price in five years. chiefly be-
ca use Of the large earnings resulting
I from economies made possible by the
operating merger of that company
with the American Telephone Com
pany. One report was that the Amer
/ lean Telephone would buy up the
S.t - all - rtshr a
iaries. including tho Western Union,
+ in order to avoid criticism az a hold
Ing company.
On announcement that the Public
Service Commission had approved
the plan 70. .eerganizing the Third
Avenue Railroad Company, stock OF
that COMPANY sold off nearly two
points Res
Strength of Missouri Pacific in the
fare of bad report for the second
week Of January WAS probably re
sponsible for the ruInQr that ]. p.
Morgan & Co. Will become bankers
for the Gould properties when they
are reorganixed Substantial banking
support would be worth more to the
Gouids than To almost any other
railroad system for the condition into
which Those railroads has fallen Is
due primarily 10 the inability of the
companies TO raise money for Inn
reovements when needed IT will take
&100. 00o.0o0 to do now what Nigh,
d have been done with $50. 900, 900 had
Il 1t been supplied at the proper time
Gould 10 Emulate Sage.
Bankers who have acted for the
Goulds would inspire confidence bu
for the fact that George j. Goulc
keeps announcing that they are en-.
gagged only temporarily. There IL
( In the Gould properties the making,
Of a railroad system equal To any ir
America. The strange indifference
OF George J. Gould TO the welfare
Of the railroads for which he Is sup
posed 10 be responsible has led to
report that he has been converting
all his assets into spot cash for tht
last ten years with the intention o.
becoming "A money lender like tn,
late Russell Sage.
December exports. according to the
official statement made today by tn.
Bureau of Statistics at Washington
were 1924, 7a3. 600. the value beinl
exceeded by only Que month on rec
ard. that OF December in the pre-
. vious year. Imports were sl4o.s44.
600 tho largest since November
1909
in spite Of efforts tlut have bs..r
TT lrthS1fi Hl llNfsIG6tlpH o.
the money trust by Congress, il /.
understood that the rules committee
+ viii within a dHy ar two recommene
such an Investigation. New York
bankers have hopes, however. that 4
will he conducted along such line,
as viii not inlure any legitimate III.
serest. There are financial arrange.
inents that they agree must b.
changed. but these evi!s are wei
known and no attempt wifi he made
10 conceal them. The one to receive
most attention will be the system oil
underwriting and the system of spec
uiation by banks through allied cor.
porations that use the bank deposit,
for capirHt
Number OF shares sold today, 24O,.
Aas. 4 year ags.s I'D Ia AZ. 'a.,r; ..
Par value Of bonds sold today. a..
s62,ooe. a year ago. sS.sos,0