Show I F- F Financial I an and d Commercial BY nr D THOMAS C c. New eV York r Feb b. b 20 President President ent Roosevelt's Roose noose velt's letter to the Interstate Commerce commission Instructing it to Investigate Invest Invest- gate the thc reason r son for reduction of ot wages b by railroads caused a n rai rally In the stock market tO today The Thc part that cheered Wall street up particularly was where ho says If It J it Is caused b by legislation the time pu public lc nn and congress should know of ot It U. Wall YaU str street t feels that the beginning beginning begin begin- ning of the time en end has ha come The Thc t decision cl lon of the time Superior court of Chicago that Ito tho Union Pacific und and the tIme Railroad Securities g company are arc en entitled entitled en- en titled to vote ote the time Illinois Central stock owned by br them was as a complete victory vIctor for E Edward II I. I Harriman In him his controversy controversy contro contro- versy with Stuyvesant Fish Several appeals are aro possible lo In the case hower however however how how- ever er and the litigation has only fairly begun Wall al street will wi not hear thelast tho the last of r It for several years ears as both oth parties partes will 1 carry It I to the Supreme Court of tho time United States The de decision tie tie- however ct far tat It Is clon HO ito as goes coes very ven much in favor of railroad systems In Iii II general as the they arc now constituted because bec it confirms the right of one railroad to own an and amid vote ote the shares of or another where time the road Is not parallel and competing This decision Is es especially c Important because bc ause It Is contrary con con- to th the general generl Interpretation of the he state la laws s of Illinois The decision and anti Roosevelt's attitude I cuse caused new nen covering of or short contracts that were outstanding for the time account of ot hundred share share traders These little persons persona covered so 50 n many an contracts that they finally Inal got a few of the big bl traders worried and when the time bl big men inca commenced commenced com corn to cover the time market Jump Jumped several xe p points The general generl list advanced ad ad- maced from two to lo three points In Inactive active Issues but toward art to the time en end of tho time session the covering Co movement was vas stopped There Is ia still Hll a very ery large short In Interest In- In terest In the time market an and the best est authorities au au- nu- nu s are arc cl conservatively bullish bulIsh for tOI forthe the time Immediate future Nobody pretends s to sa say nay what will 1 be le done ono In two weeks or 11 even In II ono otto ono week but time the outlook la Its better ete In business 8 Payment of the time regular dividends 8 on 01 National La Lead stock gave smellers a anew n new hew knee Rase of life an and made tte it i cross CO It I began to sag however and amid ant ha haJost had lost Jost moro more than a Q point front from the top wh when the time close dOMe came came Announcement nt that tIme the llah Utah C COpper r company had lUll en- en l a 0 t ith th the United Metals for tor the time sale sule of copler copper cop cop- Selling comp I cop per ler output which is about fOO a year ar was an au Indication aton of or the new ownership w of tho smelling company The TIme report r of the Guggenheim E Ex- Ex uJ Iral X was n made n e public and ammil l r. r Indicates very urge e earnings s for tor next year for somo of ot tho no companies which in the time ha hav been productive non non h situation lu iii II the tIme metals stocks floes doe not Time The only emily mining mimming shares to real real vitality are aro tho time Nevada eva I Gold Gol issues I In II the Street The ho total tot l number of or stocks s uld sold im un tho time New cW York orl stock exchange toda today amounted to n against th thu on day ny tt t t aeji of ot bonds sold sola to to- value Tho rho total to tul par pur pur 3 a s 0 o 18 v L r c ou day dY cay L u y nero I A. A I f It wai arv Co aM l- l in Wall tIT trl aU street t to today a have hav authorized an aim Issue of ot equipment equip equip- ment trust bonds Louls It I Is li understood I time the bonds will nJ bear bea 4 per cent In interest and amid run for 20 years ears u The he action on tho time quarterly tl l dividend ent and Arizona Mining of or the tho Calumet an this due for declaration company compan- ue been deferred until March arch month has Imas Tho The directors say that tho time postponement postponement postpone postpone- ment meat Is on omi account of or payments fallIng fall fall- tal- tal lug Ing due In iii March on options 0 on mining properties n which the time company has not yet ct decided eclet to accept t or reject reject of Prices Pollock Special Wire I II H. Sales Am C. C F 26 G 2611 Am Smelt j GO n 71 Smet Am Loco 35 3 34 1600 m. m Sugar Sugar 1 1102 Cop 4 I 41 Cop O 29 30 Atchison C 1 BaIt amid Ohio 81 S1 79 BaI Brook ant Rapid r 41 OA O Canadian Pac Pae 1 1412 t IHl 1441 HU 1441 Ches an and Ohio 27 2 6 C OO C. C I. I and St. St P. P 10 1071 1082 Cob Colu Fuel and n I. I 17 i 17 1000 Erie Erie 1311 13 Great Nor Pf lS 1 i lS Glent Cent 13 13 Mex 17 6 1 Miss Pa Ia 30 30 31 1 1 Mo K I. an and T. T 19 IS IS 1400 1 10 Pfd 50 0 48 9 SOt SOu N. N Y pCt Central 94 91 N. N Y 1 Omit Ont nn and W 0 SO 30 30 Nor and Western GO COh 59 GO 60 NatI 40 38 40 2400 2 Northern nt lat Pac 1221 1211 11 1211 Pennsylvania 1121 iii 1 P Peoples People's Gas Ga 84 8 SU Rca Reading 91 5 iOU Rock Roele Island 11 11 1 11 1000 Y I. and S. S Hi 1511 1 15 1 OO Rep Southern an ny 00 Southern 9 GS CS Union Souther 1 11 1151 16 U. U S. S Steel 28 28 P 91 9 2 25 24 1400 1 Ulah Tennessee Cop 1 4 Newhouse 71 00 21 21 21 sales satcH Money closed at per cent bid Copper stud Muck Boston Fe Feb Feb 20 20 W. Trading In itt the market developed good rallies I to today Calumet and Arizona from 93 to 97 aY ant front from 1 18 IS g to 19 Old Dominion from 31 to tu 32 32 Shannon i to O Copper Ran Range c e 1 11 to 57 7 Trinity 11 U to 13 lut Butte Coalition Coalton A to 11 North orth I Butte to 13 and ant Utah 3 to But Butto There is more mor mort encouraging talk 3 about copper metal and the demand with wih signs of or some revival in thu tho lat latter Jot Jot- lat lat- ter it is declared Boton Copper r I Pollock Special Wire I HI h. h I Low Lw I Close 1 leN Bing eon 1 U 1621 lIes Dos Con Comi H. H 1325 1375 1400 B. B 1725 1650 1700 SS D. D and L 00 C. C and A. A L 00 9 00 5 Cop R. R 3 Cum Curn Ely my 70 3 iS D. D West 25 30 1975 HO Butte E. E G. G Duto Con 50 50 Gran Con Greene C C. C iGO v. Nev C. C GO 60 Nev Utah 1121 1495 49 Gan X Butte Bute 13 1325 1325 63 U. U Cop G. G i U. U S. S S. S 2200 2 00 Pfd S SOO Con 3 00 12 Utah 75 3 Ape Utah SI n- n 1025 U. U S. S buds lu In tv York I U. U S. S government New York Feb 20 U. S go hon bonds s I 1930 2 5 do do- reg coupon 04 1903 1908 1001 33 35 1 do rt reg coupon 1001 t I co do io small bonds t Pc iz- iz smal 2 rc res |