Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-01-10
GOSSIP OF The STREET
r. r. SITUATION
MORE HOPEFUL
Bankers Believe Congressman
Are Showing Tendency to Take
., Conseryatiye View

Everywhere in the financial district
the railroad question Is the uppermost
topic for discussion.
A w~ell-known banker remarked In this
connection that he was both amused
and gratifed Mt the evident change Of
view Of some Senator's and Representa-
tives in Washington or the subject.
Some OF these men who not only on the
railroad, but on other public questions,
he remarked. were. In danger of giving
the impression that they were radical
enough to be red" have evidently seen
a light or have heard from ''vox populi'
and are now pink with n strong lean
ing to conservative ideas on the leading
subjects. and among the rest the rail-
roads. lie said It was most gratifying
to those who, like himself. opposed the
idea OF Government ownership to find
sentiment against that idea growing
stronger each day. Another banker
mentioned the agitation to deprive the
President OF the power to hand back
the railroads to the wner on a mo-
ments notice as puerile. and he asked
the question. what has the President
ever done or said in connection with
the railroads hat would lead any one
TO conclude that he would be guilty of
any action that would work to the
detriment OF the security holders?" lie
continued by saying he was not a sup
porter Of President Wilson'S policies
outside those connected with the war.
but he could find nowhere. he said. any
reason to think he would be or intended
to be unfair in dealing with the rail-
road question. in fact. all the evidence
Is to the contrary.
At the time of this writing yesterday
afternoon none of those interviewed had
up TO that time read the plan for the
return Of the railroads submitted to the
Interstate Commerce Committee OF the
Senate earlier in the day and published
In the later edition OF the EVENING PUB
Lie LEDGER. and therefore none of them
was prepared to comment oil the plan.
Nor had any interviewed had an oppor-
tunity up to hat time to read and
! comment on the exceedingly interesting
special cable from Clinton " Gilbert,
the stan correspondent of the EVENING
PUBLIC LEDGER with the peace delega-
ton in Europe. giving a most exhaustive
resume of the battle for trade dominion
which Is going on behind the scenes in
the great Peace Conference in Paris.
For a while there was feverish In
quiry IN the financial district yesterday
about. Nexas Pacific land trust certif-
Gates especially when they made in a
N''' =" VI
more than 100 points to 1856. to fall
back shortly afterward to $50.
One authority said that the specula-
tive intereAt in the stock is on a par
with that Of other companies having
land in Texas wherein might be found
large quantities of oil. As yet the com.
pany has discovered no oil. but the hug
acreage it owns has given it a place Of
prominence in the oil boom"
Winslow Taylor & Co., oil brokers II
D the Widener Building. said the propert,
is what Is known as the Ranger Field
which is coming into great prominence
at present. especially through its aml
iation with the Texas Pacific Rail
+, way Company. whose stock is acting IL
sympathy with the Ranger development
Taylor 4 &C. SAID they had sent
representative down to investigate tn,
Ranger Field so that they might hay.
Information at first hand. This man ha,
} returned, and they claim" he is mos
enthusiastic over what he saw there
] but has not yet completed his report
When he does SO they will have furthe
particulars.
Considerable interest was shown /,
t BOND market circles yesterday over tn
double offering OF Bell Telephone sys
TEN securities, including sac. zoo. 900 o
American Telephone Company five-yeat
6 per cent notes at 99L n interest Il
yield about 6.l7 per cent and SIS, 900, 90,
New York Telephone Company thirty
year sinking fund 6 per cent dehentur,
bonds at 101 and interest to yield abou
500 per cent.
The public advertisement orerin,
these issues was unique, as 1t Is. tn,
first time In the memory of the oldes
local Dankinp interaeto ~ a l1,,hl,. abear
ing Of this character being made in al
, advertisement covering more than a hal
; page of the daily papers. The %offerin,
, bankers were j. p. Morgan G. Co.
Kuhn. Loeb & Co. kidder, Peabody
/ Co. First National Bank. National Cit,
!, Company. Harris, Forbes & Co. anc
Lee, Higginson & Co. II was stated a
the offices of III bankers yesterday tina
subscriptions were being received II
3 large volume, with the indications fay
ering an otersubscription to the issue
. II Is recognized that both the notes ant
. the debentures are being offered at {
Z highly attractive income return basis
1t also was stated hat subscription
were being received from virtually al
parts OF the country.
Q There was q somewhat better deman
: for Liberty Loan bonds yesterday wit
a tendency toward higher prices, par
. ticularly for the AIS, which were alb
sorbed In substantial moun by in
r~estors. Bond men stated that the
were receiving orders for from $4,000 t
$4,000 from individuals in large mum
!. bers and they predicted that within
comparatively short time the 4ks woul
/ experience an advance of 2 points owe
the present prevailing quotations.
The Pennsylvania Railroad has agai
a opened negotiations with the Pittsburg
and West Virginia Railway for lease Q
r the latter's property, which would Civ,
the Pennsylvania Railroad additional en-
/ trance facilities into the city of Pitts
Q bureb.
Present negotiations which are &C
lively under way are in behalf Of Par
I handle. which seeks to leave fifty mile
Of Pittsburgh and West Virginia's siS
ty miles Of line n it Is proposed I
bring this part of the line up to tn
y Pennsylvania standard.