The times., 1899-03-10
COAL COMBINE RUNORS
AG[TAIE THE MARKET
The Anthracite Stocks Attract
Spectators.
Prices Advance Rapidly on Ex-
tremeIy Heavy Dealings,
Interest i'm the General Market We'll
Distributed and TransactioHs
Foot Up Fair aggregate.

New York. March AT the opening OF
business speculative interest was largely
monopolized by the anthracite coal stocks
all Of which advanced rapidly or heavy
dealings The subsequent reaction in these
stocks was doubtless to no small extent due
10 technical denials in regard TO pending
developments in the anthracite trade, or
more correctly speaking, to the denials Of
the exaggerated and perverted accounts
printed in certain newspapers. The latter
statements are easily susceptible OF repu-
diatien and no drafts upon the conscience
OF those denying such reports are involved.
On the other hand, however, there are the
best of reasons for believing that much has
already been accomplished and great deal
is projected. the upshot OF which will be
the placing of the anthracite coal trade
upon a more prosperous basis than il has
ever enjoyed. Another probable influence
in the reaction in these stocks was the evil
dence of legislative agitation against the
rumored combine, but here again ii may be
safely assumed that the octopus hunters
at Trenton and Harrisburg will experience
more or less difficulty in locating the mon
ster In short, il is likely that with the
completion of the present negotiations
there will be revealed a plan at once SIM
pie and comprehensive and not in contra
vention OF existing national or State laws
and against which nothing short OF sump-
tuary legislation could be enacted.
Interest in the general market was very
well distributed. with the days total deal
ings footing up fair aggregate. London
was scarcely factor in any way. Prices
there were depressed on account of the
political situation in the East. and Chi
cago had some very bellicose rumors,
which were attended by heavy Western
selling of stocks and by an advance of
over cent in wheat. The money market
was easy and the days estimates of the
money movement in and out of the banks
gave some promise of more favorable
bank statement on Saturday. As had bsen
generally expected, the St. Paul directors
declared the regular dividend of . l2 per
cent upon the common stock. While there
has been no uncertainty in well informed
quarters as TO the action of the directors.
trading in the general market was well
nigh suspended pending the announcement
OF the rate and the subsequent course OF
the stock reflected some disappointment on
the part of its holders. Union Pacific pre-
ferred was another stock in which thsIe
was noteworthy weakness. which in this
instance was accounted for by eXpecta-
tions that no more than 11-2 per cent
would be declared tomorrow. That rate
was declared in September last. but it
had been hoped that the directors would
have seen their way clear to placing the
stock upon a 4 per cent basis According
10 current reports these representations
will not be realized. There were note
worthy advances scored in Metropolitan
Street Railway, Third Avenue, and Brook
lyn Rapid Transit. The industrial stocks
were fairly active, with Sugar Refining
a.. i
in line with the general market The close
was active and rather heavy