Evening star., 1902-05-06
Sentiment Was Bullish in
Wall Street Today.
WHOLE LIST STRONG
SHARP ADVANCES IN THE COAL
ROAD STOCK.
Due to Advices Of Improvement in the
Threatened Strike Situa-
ton.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 6.-The decreasIns
prospects for a strike among the anthracite
coal miners gave new life 10 the security
markets this morning and resulted In some
substantial Improvement in prices. Early
London cables reflected gains extending
from " to per cent over yesterdays clos
ing level and these gains were genera Iv
sustained in the local market.
The difficulties In the curb market sem
to have been restricted to a, relatively small
area, and the episode is generally regard
as having been helpful to the main si'Ia-
ton. Conservative houses think the eN,rD-
sure Of such schemes will increase caution
elsewhere. and that values will again b.. rl.,
determining factor in the market
The banks undoubtedly were "A trifir slow
In recognizing their mistake in having ,x-
tended accommodations on such collaterals
but remedial action was both prompt and
effective. Thinking that the consequences
OF last week had made a sufficiently LAST
Ing impression, the banks were inclined 10
allow money rates to ease on and t. yi.-
courage some new business. As the re-
suit of the change of mind loans were
made at 8 per cent during the middle Of he
afternoon, as compared with Il per cent
at the same time yesterday.
The new buying was put down to Morgan
Keene and Gates workers. Reading issues
were In demand upon large scale. selling
back for almost complete recovery Of all
recent losses. The buying OF the common
stock was helped by the covering OF short
stock. put out on the strike disappointment.
While there was little news obtainable. II
was thought in usually well-informed quar-
ters that the convention tomorrow would
be shown difinlfied way to avert a tie-up
at the mines.
All of the coal stocks reflected this con-
fdence. but there is something moro than
the ordinary behind the present accumula.
ton of Reading shares. and the buying
or them consequently attracts unusual at
traction.
The buying OF Louisville and Nashville
well up into the forties. thus making a new
high record, was followed by unusual
activity in Monon and the usual sympa-
thetic strength in Southern.
During the late trading a sudden demand
for Chicago and Great Western carried the
price of that stock across 30 and revived
the rumors of an effort to secure control
of that property. Pennsylvania railroad
and its connections reflected a splendid de-
mand, sharp advance in Panhandle COM
mon and preferred being a feature OF the
last hour.
The high-priced granger shares were well
taken as the result of the crop news, and
there was a good demand for Atchison and
the middle-priced western issues
The sale of the Western Maryland to tho
Goulds resulted in a firmer tone for the Sc
curlties in that group. particularly tho
Wabash issues.
The traction shares were firm, but no
attempt was made to advance them beyond
the point of a sympathetic rise with the
general improvement elsewhere.
Sugar was forced up under buying for
both accounts, and there was a steady buy
ing demand in Amalgamated Copper, which
attracted attention.
The advance today was partly due to the
fact that President Baer of Reading had
been in conference with the anthracite rail-
road presidents and that the strike pros
poets had dwindled materially. The cover
Ing of short stock and the reaction from
the fears Of yesterday forced an emotional
rise, which may not be lasting