New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-04
HEAV w BUYING OF BEADING
BELIEF THAT PENNSYLVANIA IS TRY
ING TO GET CONTROL.
SENATOR QUAY REPORTED AS SAYING
THAT NOTHING CAN BE DONE NOW
TO END STRIKE.

TO END STRIFE
There was additional evidence yesterday of wide
spread belief in the financial district that the coal
strike is nearly over Furious buying of Reading
common stock and its advance TO 7Sta indicated
newed confidence n 4 coal road which has been
ooing compare lively poor business since the strike
began. Wall Street had nforma lion that the coal
operators had been threatened with adverse legis-
lation IN Pennsylvania if the strike did end by
the middle of the month, and the information
seemed TO explain TO many minds the confidence Of
Senator Platt and Senator Quay in sediment
within weeks.
Late IN the afternoon it was known In the hnan-
cial district that President Baer of the Reading
Company was holding a conference with Senators
Quay and Penrose in Philadelphia in reference To
the coal strike. J Pierpont Morgan was In his
Office in Wall-st-. in communication by telephone
with the Senators Philadelphia It was predicted
by some men the Street that the coal operators
would hear something drop before nightfaH Mr.
Morgan left his office after $50 o'clock, saying
not 2 word TO 2 dozen newspaper who waited
10 inquire II there any new development in the
strike situation. One of Mr.. Morgan's partners
said the situation unchanged so far as he
knew Then came dispatch from Philadelphia
that Senator Quay had said after the conference:
we went over the situation thoroughly. and
now satisfied that nothing can De accomplished al
the present time.
An officer of one Of the coal roads said that while
it was true that threat OF adverse legislation had
been made. the dtrectorates Of the companies had
agreed that the nght SHouI9 he he%L ~ 7NVi IL
the face of political interference.
Nothing has happened since the last statement
on behalf OF the various operators" the official
said Ito change attitude in the slightest We
have been in this fight little too long 10 aro-
trate Were we 10 eat crow now. II would mean
the resignation of seven or eight railroad pres-
dents and as many mining superintendents- They
would sooner resign than be Inundated 10 that ex
The coal operators declined to make comments
Tipbr he
missioner Of Labor. the strike. They read with
evident interest extracts from the report which
had been autographed from Washington.
GATEs's THRUST AT PERKINS
Before John ". Gates sailed for Europe yes
terday he said he could not talk about the pre-
dictIon that the coal strike was to end soon Go
and ask George W Perkins" he said Perkins
likes 10 talk"
When it was suggested that the statements of
Mr.. Morgan's partner about the coal strike were
likely 10 be more diplomatic than satisfactory. Mr..
Gates INDUCED in a sardonlc smile and remarked:
Il never knew of Perkins being diplomatic"
Nj Perkins was asked if he had anything
say in reference 10 the reports that political in
reference would end the strike.
Il have not had time read all the reports"
he replied
VIII politics have anything TO do in settling
the striker" he was asked.
Il discuss these questions now" he said
Then he added after a pause. But l think not"
The extensive trading in Reading stock yester-
Railroad stock at startling advances in prices led
many Vail Street operators to think that buying
tor control. as well as expectation OF an early
end OF the coal strike, helped the Reading boom.
Opinions differed somewhat as 70 The Interests
the operators said they thought George J. Gould
was buying Reading stock IN the expectation of
fsWay O system 10 They decaTed Mr. Gou6 q was hs
10 ha9f be 9oog sang oGf ou
no Longer b faf b IN the adyange OF kesdng
obtained for the pennsylvania Railroad interests
Control of Reading it was said. carrying with 1t
thracite coal situation. would give the PennsvI-
ket because the Pennsylvania interests sIreaav
controlled the bituminous coal carrying properties
THE SALES OF READING COMMON.
The sales of Reading common stock yesterday
amounted 285.3O0 shares On Tuesday 2n g0l |
shares OF the stock sold in the market In
the two days the price OF the stock went from s.
78 closing yesterday at 1872 The 52650O shares
Of stock sold in two days have cost about S3s 600
second preferred stock which no dividends have
been been P pad tbs YEAR on m Of hay
ferred stock The drestofate cut cut down the last
R fedo me saes 81 Stock which d5nn6 4sf The
pected to pay dividends while the voting trust con
tinues, and The sharp advance In the price of the
the theory that powerful interests seeking con-
Pen m Wv railroad stock advanced IN the
market from 1885 to the record price Of 1854 clos
ing that price Whell 1to,Sn SnareS of the
had been sold in the days trading. Operators saiS
that belief the control OF Reading by the Penn
sylvana interests had much do with The sd+,enna
OF PENNSYLVANIA stock
The retail coal dealers still had the beeS ,,.s+ar
day that something going happen to sstsie
the strike The Committee of Five, in yien, ~ tp
talk about settlement decided to postpons ~ stse
vance in price of 81 ton which 10 have been |
made on domestic coal yesterday The aS,'Id
price will still remain so for some davs
Small steam sizes Of coal such as pea ana b,o,,
wheat. easier in price yesterday thsr tba-
were on Tuesday. Dealers said there III my
longer a scarcity OF those sizes. vas Ho |
O'REILLY MAY BE TRANSFERRED. |