The Bridgeport evening farmer., 1913-12-26
WALL STREET LOOKS FOR JANUARY BOOM
Financial Center Expects Penn syIvania Road To Anticipate Governmental Step By Di- I
 vorcing Some Holdings

! New York, Dec. 26-There was profit taking over the holidays, notwith- standing which fact good buying pow ers was apparent for all stocks offer
 ed. That a January boom in stocks will occur seems the quite general opinion in the financial district. Presi- dent Wilson's statements that busi- ness should go forward rather than suffer by reason of legislation already
 accomplished and in view was taken as one of the strongest bases for a genuine advance in security prices.
 The New York money market will for the next week have to compete
 with Berlin funds owing to the offer ings by German bankers of loans for the New Year. The prevailing rate of interest demanded ranges from per
 cent: to 3-S per cent. for mark loans.
 The Union Switch & signal Go. will shortly disburse a. melon of 3s 1-3 per cent. The way for this step will be paved by an increase in capital stock to SIC, 100000 to act upon which ques- tion a special stockh o1ders' meeting has been called for March 10. George Westinghouse and associates dominate this concern.
 That the Pennsylvania railroad will voluntarily divest itself of holdings in Norfolk & Western Railway seems probable, although no official state "0nC mas been forthcoming rom the Pennsylvania management. Wall Street, however, with occasional keen intuition has come to the conclusion that such a step will be necessary if the Pennsylvania wishes to be free from governmental attack on the part of the Department of Justice. Through the disposal of Norfolk & Western shares Pennsylvania would probably not be a sufferer either from the sale of it's investment or through traffic alliances. Since this report first be- came general there has been heavy selling of Norfolk & Western, result ing in substantial paper losses, but it has been also figured that this com pany will suffer no more than the Pennsylvania.
 There have been some heavy losses on the long side of cotton since prices touched their record high mark of about IA 1-4 cents a pound early in October. In the past fortnight 1fqui- dalton of a particularly heavy char acter has been almost continuous, and some of the leading speculative inter est in Wall Street are alleged to have been responsible for the selling. It is probable that most Of the cotton thrown on the market recently was purchased all the way from IA cents down.
 Apprehension over the sa5, ,ooo, 900 notes maturing next June has been the contributing factor to the current heavy selling of Missouri Pacific shares, which as brought them to the lowest price level since the early. nine ties. Bankers and officials of the company, however, strongly assert that all indications point to the care of these maturities when they fall due. At the same time, however, no specific plans for taking care of these notes five months hence appear to have been arranged.
 The independent concerns involved in the reorganization of American Telephone & Telegraph Go. twill con tinue to receive accommodations from the American Co.,; but they must pay for them at regular rates. In view of the once profitable enterprise Of or ganizing new companies in the hope that the A. T. & T. Go. would u1ti- mateIy absorb, the big company will no doubt benefit from the restraint put upon it. It will now be relieved of meeting new competition of the most objectionable kind-the sort of competitor that would endeavor to do the greatest amount of damage so as to obtain nuisance value.