Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-03-08
FINANCE AND TRADE
acrs
Fearseof a Strike Caused Dizziness in
Coal Stock.
TIE MARKET Was IRREGULAR
Good Buying of Southern and
Chesapeake and Ohio.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. March s-Fears Of an I'M
favorable bank statement tomorrow re-
stricted the volume Of business I'm today's
stock market and resulted In irregular net
changes. The best estimates OF the weeks
currency movements indicate a loss to the
banks of about $4,000, 900, the bulk of 1t to
the subtreasury. This latter loss, due to
heavy revenue and customs payments. is
almost certain to be fully shown in the net
loss in cash.
The only transaction to Offset the locking
up of funds is the Pennsylvania-Long Is
land payment, which has been anticipated
by the payment Of the purchase price some
sixty days in advance Of maturity.
Should this money appear in tomorrow's
statement and reduction of loans follow
the natural effect Of the loss In cash would
be materially reduced The fear that. in
spite of the assurances from inside sources
the money market may work higher has
made the public hesitate to buy At the
same time there is no indication of weak
ness In the market and the one cloud is
the unrest among the coal miners.
There Is the same conflict between the
men and their employers on the subject Of
hours and wages, and the same desire to
avoid an official recognition of the union
on the one hand and the insistance Of such
recognition on the other. The possibilities
OF such contentious are sufficiently disturb
ing to warrant caution. This years situa-
ton, however, is somewhat out Of the or
binary. inasmuch 1t is frankly admitted
that Mr.. Morgan can have a strike or
avoid 1t, according to his idea Of policy.
Presuming this power TO exist as reported,
there should be the assurance that what
ever happens is for the best interest Of the
various properties.
The street, however, is not willing to ac-
cept such views. and does not want a
nj y,-to -.
strike is to be. then the street will not want
Its coal stocks, and persuasion will not help
matters. The dullness in such issues today
and the relative strength shown NAV he
taken to indicate a prudent waiting for defi-
mite developments
Southern railroad shares were the strong
features In today's market
chesapeake and Ohio made a new high
record, under an excellent demand said to
De Que to positive assurances that Penn
syivania interests have been large buyers
ana Will Increase dividends In the near
future. Norfolk and Western was strong
and in good demand, and LouIsyille and
Nashville showed steady demand Rumors
were plentiful that the last named properly
would extend Its line to the eastern sea-
board by connection to be announced
shortly.
Sugar was bought in round amounts dur
ing the morning and sold up over 143 en-
tirely regaining its quarterly dividend of
IA per cent. movement of unusual pro-
portions Is thought to have begun in this
property. The Traction shares were all
strong. with the manipulation in Manhat-
tan the feature. The Steel shares held well,
as heretofore. but no special attention was
given them.
The neglect Of such issues as Union Pa
CHIC. Erie and the Atchison was variously
construed, but there is still much conf
dence In the future OF them ALL Burling-
ton was strong and weak by turns, but
there is good reason for supposing that a
deal Is In progress. As a whole the mar
ket has steady tone, but is disappointing
because of its tendency to run into Special
ties.
Southern railroad declared per cent on
the preferred stock, thereby establishing a
per cent basis. This was the least that
had been expected.