New-York tribune., 1902-06-08
Fnduria!.
The Financial World.


us So dead has been the general list that +b
efforts of the pool in Canadian Pacific 70 ksar
their stock active have furnished quite a BtfIa
amusement 10 the Street. II was the one Az
tated spot in a dead level, and thus rnass
humorously manifest the artificial character or
the agitation. Such general dullness usually
favors lower prices and most OF the time thu
market has worn a heavy look though tha
actual changes in quotations have not amounted
TO much.
In the early part of the week it was South
African affairs which principally engaged atten-
ton; and in the latter part the coal strike be,
came the main topic. the developments OF
the contest took on more threatening aspect
The bituninous miners in West Virginia have
gone out, which directly affects the Norfolk and
Western and Chesapeake and Ohio roads In
the anthracite regions the operators seem to
have been successful in keeping the pumps
going at all places where there was real need
of it, Not much disorder has occurred so far;
but il would be too much to expect that the
strike will be continued peacefully When
union men are obtained to resume the actual
getting out of COAL outbreaks may be expected
In fact IL may be said it is simply question
of how many men will be killed before the
strike Is settled More or less are killed In
nearly every big strike. and often IN small ones
II was noted here when the strike was de-
cIared that well informed coal expressed
the opfnIon that it would be long one They
saw the same now, but confident enough
that the men will be beaten in the end Thers
was some uneasiness for few days that inter-
ference in the fight would come from Washing
ton; and 1t was quite plain also that the idea Of
II reused a determinedIy belgerent feeling, but
the official declaration that the President found
no grounds for interference, allayed this The
operators say they lost the last fight through
outside interference, and they are determined
not to lose again from that cause
Meanwhile New-York is overwhelmed with
the black smoke and half choked with the
fumes from the bituminous coal which supplies
the place Of the unobtainable anthracite We
know now what IT would be II soft coal were in
constant use here. 1t is a most costly fuel
While dollar or less per ton may be saved on
the purchase price as against hard coal. Yet the
foul smoke the noxious fumes, the ashes and
cinders which are thrown out, damage property
to costly degree, well as threaten the public
health This makes the uominaily cheaper soft
COAL an actually high priced article 10 the pub
lie; and when the strike is over, the use Of soft
coal in this city VIII not be tolerated for day
And it ought not TO be.
The duIlness Of business on this Exchange y
pean exchanges. All the reports way.
The London market acted on the peace news
about as was intimated in this column it might
do. There was one active day. marked by large
realizing sales; then prices reacted and business
fell away month of debating and vote TAX
ing IN the field and in convention, by the Beers
had given the spectators time to load up in an
ticipation of the end and they sold when It
came.
The end came without the dramatic scene at
Appomattox; where the half starved. ragged
wearied yet still defiant remnant Of once great
army. found itself ringed with iron wall:
when hope had gone and there remained only
the desperation OF despair. Nothing like this
closed the South African war. Yet when that
gathering of Boer corlmandants at VereenIging
authorized their chiefs to surrender. 70 save
their race from extinction" they put on record
z declaration of hopelessness as dramatic in It's
expression was the surrender at Appomattox
If great questions are to be put to the arbitra-
ment of war, it is well for future peace that the
war be fought to the last. This war was fought
to settle which should be the dominant race in
South Africa. It is settled that IL shall be the
English speaking race: and the future develop
ment of the country. which will be all the more
rapid because of the war. will be done along the
lines which have made the English speaking
peoples of to-day the foremost in the world
What such a peace means TO South Africa and
the world. is not a thing which the stock mar
kets discount in a day The small recession
the markets had, and the dulIness. tempo
rary. There is every promise that later in the
year all markets will wear very different and
brighter aspect.
1t is quite possible, II not probable that far
some little time may see business shrink and
prices go lower but given that the crops turn
have all the elements necessary to give big
bull markets later In the first place. the grow
ing cotton crop is said by experts TO be one Of
the finest ever seen. nearly perfect in It's ap-
pearance An immense yield is promised; and
IL is certain there will be demand for it sut-
ficient TO give the grower profitable prices The
prosperity of our Southern roads is assured IN
this; for even where the actual amount OF cotton
carried on them is comparatively small, yet the
cotton crop is the main support OF the people
along the lines. The winter wheat crop IS
rapidly coming forward. and the yield viii, 10 all
appearance. be full for the acreage sOwn- some
was lost, and the ground Pleughed UP; but thlS
was put into cora OF the corn and spfihs
wheat crops. it is of course, too early 10 SPEAK
The experts say they look well at this stage
which is all that can he said absolutely II -
argued that two successive corn failures are IN
known. so that no failure need be feared this
year. but if only sixty per cent OF the plsheSU
area matured it would be bumper crop as-
cause OF the great increase in acreage
In these crops. in the better state ol aASi
abroad and the increasing supplies OF suie'
which furnishes the machinery of eNchahs7'
there is material enough for eont1nuahce Hs
of our present industrial activity. and ioF Si'
industrial revival abroad We have been SUI
prised by the way railroad earnings have sAu"n