The age-herald., 1902-05-09
BETTER FEELING
 IN STOCK MARKET Miners Offer to Arbitrate Causes
 Advance Tn Prices 0AYSBUSlNESSWAS SMALL Tennessee Coal and Fuel Were Under Pressure, the Last-Named, How
 ever Recovers-Money
 Goes to g Der Cent.
DAYS SBUSlNESSWAS SMALL

New York, May s.-stocks recovered rom yesterdays weakness today aA- though there was considerable uncer- tainty manifested in the prevailing senti- ment A more cheerful feeling over the anthracite outlook is responsible for con siderable re-buytng by short sellers ol yesterday, who professed confidence last night that a strike could not be averteo' The hesitation which developed In the market was due to a considerable extent to the action taken by the mine workers convention, which presents an entirely new phase of the situation The active coalers reflected no misgiving a1ter the announcement of the miners offer 10 ar bitrate, but they fell Into comparative dullness. The high-priced coalers ohered the anomaly of early weakness, while the Readings were advancing and a strong recovery after the demand for the Read ings had largely died out.
 The whole market fell into dullness in the latter part of the day, while wait Ing fo. the announcement of the reply of the anthracite opera rs to the offer or the miners. The result is that the days transactions are not much over half those of yesterday. Outside the Read lngs the principal activity was In St. Paul and Union Pacific, with the local fractions and Southern Railroad sharing in the strength. The referees decision upholding the constitutionality of the New York franchise tax law induced some active liquidation of the stocks or New York public utilities, but they were well supported and rallied The advance in Louisville and Nashville met realizing results Reports of an apparent contest between the two interests fer control or coal lands increased the disposition to sell.
 Illinois Central became strong, in con trast to it's weakness yesterday While the other two stocks were advancing There were evidences of strength among various minor stocks which are supposed to be the subject of manipulation py speculative pools, although various ru- mors continued to circulate of their pros pective absorption or merging Ienhes- see Coal and Fuel were under pressure The last named, however, recovered to well above last night. lnternatlonal Power fell points below the last sale price. but fully recovered. There was a sale of St. Lawrence and Adlrondach d. 52, compared with the preceding sale at 14Sa. This sale was before the collapse ol the Webb-Meyer stocks The incident al statement by Dr. Webb that he had sold the road to A. l.. Meyer was news to the public this morning.
 Money went to per cent and sterling exchange turned weak with New forK exchange at Chicago ruling from 2O cents discount to 10 cents premium. Money brokers report offerings of large sums for lending in New York from va rious quarters of the country The loss already this week to the sub-treasury of over $2, ,0OO0 GOO is to be reckoned with in considering the money market situation.
 The bond market recovered today in sympathy with stocks. Total sales, par value, S3360,000. United States 3s and the new As declined A per cent on the last call.
 New York Stock Market.
 B, Private Wire to Murphy Co.