Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-01-15
MISSOURI PACIFIC
ISSUES MADE SHARP
ADVANCES AT CLOSE
Reported Taking Over of
Gould Interests By Kuhn,
Loeb & Co. Sent Prices
Upward.

NEW YORK. Jan. 15.--overshadowing
everything else in the late trading on
she stock ,xchange today was a sharp
rise In Missouri Pacific issues The stock,
Z, IN very few minutes rose 3M points to
i05& Al the close 1t reacted to 97s. The
companys 5 per cent. bonds rose pa to
tola the Is jumped sls to l6i5 and the
collateral IS OF 1917 gained over the
closing yesterday bv going to %.
Accompanying the rise in the companys
stocks and bonds was the report that
Kuhn, Loeb & Co. had bought out the
Gould interests at the recent low price at
which the stock sold on the Exchange,
and that the banking firm would reor-
ganize the property.
The report aso had 1t that Kuhn. Loeb
& Co. would take care OF the interest
falling due on July l on the per cent
notes. which It had been thought would
be defaulted and that the road would be
placed in the hands Of receivers.
Helped by the rise of Mop the mar
ket closed strong, with many issues
Touching higher points. Long Island was
vi ~ at 81
Margin buying is still missing from
stock market transactions. but broad
ening of speculative interest was shown
in the Increased demand for many of the
iow-priced specalties which could be paid
for in full with less than the amount re-
quired for msrginSon stocks in the usually
active list There was besides a good
basis for bullish activities in some of
these issues.
United States Steel common reflected
the shifting of position by some of the
room traders, who put out small amounts
of short stock because of the published
0f oF Canadian atpal F1Ilq
at s26 ton, against S2S ton, the price
adhered to by the steel rail makers he"e.
So far as can be learned, exaggerated
Importance has been attached to these
sales, and 1t is asserted that they are
simply due to halt in buying of Can't
dian product by the railways In the
Dominion and will have no permanent
influence on the trade situation here.
Steel schedules are being marked up on
numerous classes and the necessities OF
railroads can only be supplied by the
large corporations like United States
Steel. as the Canadian output is too small
20 be considered in the placing of large
orders.
The most important of such new bust
ness is the order for new steel cars sub
mitted to the Pressed Steel Car and
Standard Car Company, amounting to
about s10.000.000. This order calls for
comparatively prompt delivery and ability
~ supply tHe Oruer quickly IN Oruer 10
comply with the demands of the Public
Service Commission and new State off,
cials. Is of more consequence than conces-
Bions In prices that might be obtained.
There was quiet absorption of United
States Steel common. The copper
stocks continue to be supplied by brokers
supposed to be acting for T. r. Ryan.
and prices of those stocks were fraction
ally lower.
Western Union was up fractfonalIy on
the good showing made in the company's
report for the year. Both gross and net
earnings were larger. II is held in the
street that Western Union, selling around
90, is too low for per cent. dividend
payer.
Covering Of shorts in Western Mary
land put the price of that stock up 1M
TO l6. United Railways Investment
stocks, both the common and preferred,
wers on from the closing yesterday.
Call money loaned at per cent. The
foreign exchange market was steady.