Show LED STOCK MARKET Company ow Controls Island DEAL HAD BEEN NEW HIGH RECORD MADE BY UNION PACIFIC New Dec in the stock v y largy in inthe the shares of the local transportation companies These Issues were very strong and active on or a Virtual of there thereby by the Metropolitan Street Railway corn pany and Ito interests come under contrOl of Tran Transit sit company thus giving the latter inter eels a monopoly of alt the traction facilities on Manhattan island Some sort of a deal involving these im important properties has been expected for fora a long but Its exact form was at Ways a matter of speculation The exact details of the deal were not ob during market hours today but enough was l arnd to indicate that the tm efer be on terms sat to the purchasers The new Interests In Metropolitan are said to include several prominent IdentIfied with the nd other great railway systems So far faras as could be learned the Brooklyn Rapid Transit company Is not Included In the deal as it now stands but the fact that representatives of that were in conference with the new Metropolitan in today was regarded as more than thana a coincidence Change of control or Metropolitan Is said to carry with it important concessions In the way of pro subway extensions It is not Un Unlikely likely new securities will be Issued foi these outstanding In the aisme of the Metropolitan company At any rate It Itis is understood the transfer from old to new interests will a small cash outlay The tractions led the market from the outset thousands of shares of Metre politan Street Railway and Metropolitan came within initial gains of 2 to 4 points opened on the curb with an advance of over S points and was the feature of that market throughout attaIning a new high record et gains of these Issued for the day were 2 for Metropolitan Railway 4 for Metropolitan Securities and 5 for In In stocks us a grup the major par tion of the days business although the general market later became bread and active in the face of a 10 per cent rate The prevailing rate of the however was nearer 8 per cent of the Pennsylvania railway and subsidiary companies including Reading B 0 C 0 Norfolk Western and P C C St L were especially strong Union PacIfic went to a new high rec record ord and had an active demand for South era Pacific advanced that stock a point with St Paul and the and Atchison participating in the days gen general eral The only class rail railway way issue to display weakness was 1111 nole Central Aside the Iii sugar and VirginIa Carolina cal there were no noteworthy move in the market Surprise was cx pressed at the failure of United States Steel to make more immedIate response to the favorable trade conditions The market reacted slightly In the last hour but rallied In the trading and the clueing was strong London was scarcely a factor here trading in less than shares practically all sales Forecasts of the weeks money movements point to a gain by the bunks respite the very heavy Bonds were Total par value States new declined per coat on calL |