The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-10-16

NEW YORK, Oct. 15.--Further prog.
ress was made toward a higher level of
prices in the stock market today, al
though there were no new actual develop ae Top,
strike situation. to indicate any material
change in conditions. Nevertheless the
feeling was more prevalent that the coal
strike would reach an early amicable end
and that measures are to be taken by Sec
rotary Shaw that will shortly relieve the
present stringency Of the money mar
ket. His. action was said to be IN the
nature of further large government bond
purchases, various interests being cred
tied with holding large amounts Which
would be shortly turned in The sums
named ranged from So 900, 900 to $30, 00O,-
900 and the report was vigorously c1rcu-
lated throughout the street.
Whether there was any foundation q
not in the rumor, the money market re-
f1ected greater ease than in some time,
call loans opening at 8 per cent, the
highest, and then shading gradually to
3 per cent
Modified Coal Terms.
Considerable attention was given to the
report that there would be certain modi-
fications in the terms proposed by the
coal operators for a settlement OF the
strike, which would insure less oppos1-
ton from the miners from the points
contested Nothing definite developed re,
garding this report, though it was colored
to some extent by the heavy buying Of
Reading. which showed considerable nsS raj
ings were smaller than usual in other
stocks Of this class and there was dis
position in general to await active de-
velopments before pursuing active opera
lions in this quarter Recent speculative
leaders among the grangers, Pacifics and
Southwestern stocks were bought free
ly and the entire market showed decided
strength at one time or another.
st. Paul, Louisville & Illinois Central
were conspicuous in the days dealings
and made exceptional advances Of two
0i,,fr IO,ria o1c y1,Nt-N crad
point pretty generally, with quite an &C
tive demand in number of specialties.
The Gould stocks as a group received the
most SUPPORT the heavy pay
ing effect on the lower-priced stocks.
Some disappointment was felt over the
heaviness Of the London market. and as
the arbitrage dealers turned sellers, the
early market showed some weakness.
Large Orders for TranscontInentaIs.
Realizing sales, however, by the local
traders were soon overcome by the ap-
pearance Of large orders for the trans
continental stocks and the movement
although momentarily checked at times
by profit-taking. Trading lacked the
breadth and activity of the early opera
marked arS under s Of condence IN the
general situation. Sterling exchange
rates made a further DECLINE today, de-
mand bills declining to 4s5S75 and there
imports Of gold. The payment today Of
the second installment of $4,000, 600 on
the Louisville & Nashville account was
looked to as contributing toward a
further ease in the money situation as
the funds will speedily be redistributed
again through the usual banking chan
nels. Payment was made by the sub
treasury today of 100000 on transfer ac-
count from San Francisco and it is ex-
pectedd! that further, consignments of
Klondike gold will be available to the
money market in few days. No cur
rency transfers have been made to the
interior by this institution this week and
there was a feeling in bank circles that
the general conditions favored lower
money rates. In the last session stock
trading was virtually stagnant at times,
especially when the market was under
pressure from realizing sales, There
were occasional bursts of activity. and
these as a rule were marked by advance
ing prices. Proit-taking sales outweigh
ed the buying orders in the final hour
and there were a number of important
reactions which were not checked by a
final upturn in ST. Paul to the best. The
closing was dull and easy.
The bond market was dull, but dis
played a firm tone. Total sales, par value,
50, Ats, 900.
Stocks.