Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-02
Stock Market Rather Inclined
to Dizziness.
WHAT OPERATORS WISH
SOME ACTIVITY IN THE COAL
ROADS
Believed to Be Due to UNDERSTANDING
That Strike Is Near
the End.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. October 2.-Trading In to-
days stock market was narrow and in
clined to run into specialties. An advance
in the Bank of England's minimum rate of
discount to per cent resulted in a lower
opening level and brought some foreign
selling orders into this market. The vol
ume Of commission house business fell off
decidedly. and the banks were Inclined to
hold speculation in check, in order that
they might make better showing in Sat
urday's bank statement.
The Presidents invitation to the opposing
factions in the coal strike was variously
construed, but doubt was generally ex-
pressed as to the prospects for immediate
results. The operators have contended all
along that the strike would have ended
long ago had not outside interests sought
to remedy the difficulty.
Fhe Presidents invitation gave rev hopa
to the miners, but the operators insist 4 a.
they will appear in Washington prepared
TO stand by their c0lors and supplied " it'll
arguments to prove that il protection b.
given life and property, coal to meet the
countrys needs will be Immediately mined.
The chances are that the Washington
conference will develop stubbornness on
both sides There is some curiosity to know
what the administration proposes doing in
case the operators refuse to open the mines
on, any basis of recognition of the union.
There seems to be little discipline ex-
pected for the union, but the street gen
orally looks forward to some plan for max
ing the operators heed whatever sugges-
tionS are made.
The buying of the coal shares pretty gen.
orally credited to Morgan brokers, is taken
to mean that the conference will end the
strike on some basis. Decreased earnings
for Reading and Lehigh Valley show what
inroads the strike has made. and buoyancy
In their stocks can only be taken as an in
dication that better conditions are near at
hand.
Louisville and Nashville again reflected
selling by the minority interest. Private
advtces indicate that the Atlantic Coast
Line buys into Louisville at a price equal
to $176 per share, and adds some S2000O0
to it's fixed charges. Recent rumors that
Louisville would be put upon a per cent
basis are traceable to the fact that per
cent dividends will be necessary to reim-
burse the Atlantic Coast Line on its out
lay.
Should this analysis prove correct the
transaction has many doubtful features.
especially Louisville's ability to distribute
I per cent with any degree of regularity.
Colorado Fuel was stronger on the decision
of the court to have general meeting OF
shareholders called for December. The
rival factions may be forced into COMPETE
tive buying in order TO control that meet
ing.
There was also an improved demand for
the convertible bonds of the company. Ten
nessee Coal and Iron has a STRIKE its
hands in its Alabama C al mires and some
$500 men may b. come involv d.
An effort to market a thousand shares o.
International Power during the af ernoon
broke the price of that stock five points
A moderate demand for the preferred
stocks OF the older fndustrials was a fea-
ture Of the day. Inside selling of American
Car and Foundry was reported. although
an increased dividend is In prospect. The
soft coal roads were strong on the good
earnings coming in for September.
Money ruled at and per cent under o
decreased demand.