Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-05-18
FINANCE AND TRADE
Gossip Regarding the Rumored
Coal Deal.
PRICES GO Up IN CONSEQUENCE
A Decline in Reading. the Stock
Most Interested.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. May 1S.-Opening prices
this morning were steady around last
nights closing figures notwithstanding a
lower range of value in the foreign market.
The premature publication Of the suspected
details Of the anthracite coal combination,
about which such variety of guesses have
been made during the last few weeks.
caused considerable activity in the coal
stocks. The later action of this group of
securities indicated a decided willingness
on the part Of those in possession Of the
facts in the case to verify the published
reports. Had these reports been accurate
advances averaging from three to five per
cent would not have been considered I'M
reasonable. but as 1t was, temporary adj
vances of 1 to 2N per cent attracted such
liberal sales as to be entirely destroyed
In Reading, the stock supposed to be me
one to derive the greatest benefit from the
scheme Of consolidation, a decline of / per
cent from opening figures was recorded
during the last hour of business. There IS
an effort being made to restore harmony
among the anthracite roads by establishing
a unity Of interest in the large properties
and undoubtedly considerable progress has
been made in this direction, but matters
have not taken on such definite form as to
be or has been successful.
New York interests have steadily been
accommodating Reading securities, and Phlla-
delphia owns a smaller amount of such Sc
curities than at any time for years. In the
latter city the future Of the property is
viewed through pessimistic lenses of I'M
usual power. while in the former it is
hoped that Mr.. Morgan may be induced to
bring his own personality, as well as the
powerful influence of his associates in the
bond syndicate. into the reorganization of
the property and add the development Of
its splendid resources to his steadily length
ening list Of financial successes.
These hopes may or may not be realized,
but they are at least being considered by
the gentleman In question, and the state
ments of today may. with some important
changes. be utilized In describing actual
conditions in the near future.
Tennessee Coal and Iron WIS again active
Under a good buying demand, which result
ed In gain Of ~ per cent from first
prices. The better market for pig iron Is.
said to justify the recent Improvement In
the price of this stock.
Sugar was strong on early trading up to
119h. but sold off at the close in sympathy
with the rest of the market. Chicago Gas
accounts, the usual support being with
held.
The bank statement reflects q gain of
ten and one-half millions in lawful money.
mostly in legal tenders. The large in
crease in loans is encouraging. as 1t re-
fleets the better demand for money incident
to business activity. The increase in de-
posits is about consistent with the In
creases in loans and cash holdings.
The statement in detail follows: Reserve,
increased. $6517. 500: loans, increased. &c.
374.600; specie, decreased, S643.90O; legals.
s15.945. 6OO and circulation, increased. $29,-
co.,