The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-29

NEW YORK, Sept. est was to have
been expected. according to speculative
presidents, that this mornings announce
ment in regard to the efforts on foot to
bring to termination the strike of the an
thracite coal miners should have been fol-
lowed by heavy profit-realizing sales upon
the opening Of business this morning. Such
selling was indeed noted at the opening of
business and it was accompanied also by
renewed and aggressive operations for the
short account Notwithstanding, however,
the pressure from these sources, the mar
ket Of the forenoon was fairly steady and
occasionally pronouncedly strong.
The reversal of speculative operations
upon the announcement of the new phase
of the miners strike seemed at the start
to be quite Offset by new outside buying,
probably induced by consideration of the
material benefits, in all respects, to follow
the settling of the labor troubles This
latter buying was not, however, fully ade-
quate TO absorb the offerings from the
quarters noted, and there was Immediately
a general reaction in progress.
These sudden reversals, of course, gave
a very irregular appearance to the days
WHICH, Us d IudlttT VI AdNAs
scarcely retained any common and definite
tone for more than a few minutes at a
time. The heavy covering of the past two
days was naturally reflected in the loan
market for stocks, where ii was demon
strated that there had. in the mean time,
been a very material reduction in the
short interest, while the encouraging de-
velopments in the anthracite coal strike
had evidently failed to induce correspond
~, do
In the event OF the settlement of the
miners strike through the means now out
lined the bulk of speculative interest will
undoubtedly revert TO the political outlook
and to money market conditions. The first
named will unquestionably be simplified
when an early and amieable termination of
the Pennsylvania labor trouble is reported.
AS regards the money market outlook,
it is the best opinion, based upon all the
facts and indications in the case, that
while active conditions may prevail dur
ing the autumn, nothing approaching ac-
tual stringeney is apt TO develop There
are some indications that currency ship
ments from the interior have attained
their highest volume and, furthermore,
the foreign exchange market appears to
be assuming a phase wherein a relief TO
the money market may be furnished
through importations of gold from Europe.
But Ter the recent placing mere OF the
loans of the German and Swedish Gov
ernments it is possible that engagements
of gold for export would have been I'M
dertaken. How such an issue 10 present
conditions in the foreign exchanges win
affect European security markets is an
other question. but apparently nothing
short OF the fiotation here of another large
loan can check the declining tendency in
foreign exchange until gold imports be-
come the cheapest form of settlement.
The days dealings resulted in num-
Der of wide fluctuations, particularly in
Northern Pacific, Missouri Pacific, and
the more fancy grades of stock. but there
was virtual absence of anything definite
or Of much Importance in the way of gos-
sip, even in connection with these move
ments. Conspicuous features in the above
respect were Peoples Gas, Sugar Rein
ing. American Tobacco, and American
Steel and Wire. Lackawanna was a con-
spicuous exception to the general ten
dency of the market in a very sharp adj
vance which was likewise unexpected by
many specific developments. apart, of
course, from those in the strike situation.
The other anthracite shares, however,
moved in line with the remainder of the
market London was an inconsiderable
factor in the local dealings in all respects.