The evening times., 1900-09-17

AS had been expected there was a the
opening of the Stock Market this morning
d tendency to decline owing TO the coal
miners strike, the outlook for tighter
money The poor bank statement last Sat
urday. and finally 10 the downward move
ment last week. The opening prices were
OF ffactionally everywhere. Before the
first hour however. a halt in the decline
had come and there was a recovery, in
some cases OF a point more before
noon. There was much suTmise as to the
probable extent OF the recovery. Many
careful market people have be
lieved that the lowest prices OF
this movement would be registered to
day and that covering Of shorts and in
yestment buying at the low level would
cause permanent advance These reo-
pie expressed the belief this morning that
it was the time 10 buy stocks. Others OF
course were less optimistic. preferTing to
get definite news as TO the extent Of the
strike before making any commitments
on the long side. There seems little
doubt however. that the bottom prices
have very nearly been reached if hot
quite As TO mere activity and . greater
volume of business being likely now there
is little difference OF opinion. Cool wealth
er is coming and with il the important
market people are returning. To be sure
the public is net likely TO get into the
market until a strong upward movement
is begun
The Street heard news CT various KIN Is
from the mine regions, but for the IN st
part it seemed worse than had been eX-
pected The fact that the anthracite
coal securities did not decline much i
any below their level Of Saturday dur
ing the morning hours was taken by
many to mean that investment buy ing
h. with
The prices of these securities is. for the
most part. below the actual value
Reading first, preferred dipped below
Saturdays closing prices for momt Tn.
blH later advanced TO above 81. J6rsey
Central was dull The first quotat on
WAS below 100. but there seemed TO be
little or no pressure to sell the stock.
il is said in coal circles that the com
panies will make the strike pIetence
for working off surplus coal at ad
vanced prices. II this is true. and thu
strike is short-lived, there is no reason
that the coal railways will suffer much.
There IS some talk of Keene selling
in he market, but it cannot be identi
fed with any certainty, and it rs
probable that the bears are m1ly
using his name 20 help alcng their short
selling.
1t Is known that there is investment buy
ing of Brooklyn Rapid Transit. The the
o=y is held by many that the insiders are
willing 10 see the stock sell around i;s
present level if not even a little below it.
in order that they may acquire a line OF
stock cheaply. The people chat are buy
ing now are the people that intend 10
hold The stock for dividends, if these diyi-
dends do not materialize for TWO years.
The steel and iron securities were off al
the opening, bur Tegained part of their
losses quickly The Steel and Wire issues
both sold 'ex' dividend l 3-4 per cent
The dividend on the common stock repre-
sents 20 per cent annual return on the
stock at It's present price. Tennessee Coal
and Iron sold off rather badly, but was
one Of the first stocks 10 recover its loss.
Sugar held its own well. There was again
talk Of an advance in the price OF refined
sugar.