The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-10-16
PROGRESS TOWARD
HIGHER LEVEL OF PRICES.
OPTIMISTIC FEELING PER
VADES STOCK MARKET.
Early Settlement of Coal Strike
and Further Relief for Money
by the Government Expected.

New York. Oct. I5-Further progress was
made tovard a higher level OF prices in
the stock market to-day. although there
were no new actual developments In either
the monetary or the coal strike situations
TO indicate any material change I'm cOndi-
lions
Nevertheless. the feeling was more prev
alent that the coal strike would reach an
early amlcable end and that measures are
to be taken by Secretary Shaw that will
shortly relieve the present stringency OF the
money market HIS action was said TO be
in the nature OF further large Government
bend purchases. various interests being
credited with holding large amounts which
would be shortly turned In. The sums
ranged from 100000 TO 100000 and the
report was vigorously circulated through
out the street.
Whether there was any foundation or not
IN the rumor, the money reflected greater
ease than IN some time. call loans opening
at per cent the highest, and then shading
gradually TO . per cent Considerable atteu-
ton was given TO the report that there
would be certain notifications in the terms
proposed by the coal operators for a set
Element OF the strike. which would insure
less opposition from the miners on points
contested
Nothing definite developed regarding this
report though IL was colored 60 some eX-
tent by the heavy buying OF Reading, which
showed considerable strength throughout
the Gay. The dealings were smaller than
usual In other stocks OF this class. and
there was a disposition in general to await
active Developments before pursuing active
operations In this quarter.
Recent speculative leaders among the
grangers. Pacific and Southwestern stocks
were bought freely. and the entire market
showed decided strength at one time or an
other. ST. Paul. Louisville and Illinois Cen
VA were conspicuous in the days dealings
III maze exceptional advances OF two
Points Prices elsewhere averaged "A point
pretty generally. with quite an active de-
mani IN \ number OF specialties.
Inc Gould Gfneka a. n u-mrs- -r--rv.a rHa
moSt consistent support. the heavy buying
OF MISSOURI Pacific having a sustaining ef-
appointment was felt over me hesvineeS 81
re london market. and as the arbitrage
dealers turned sellers the early market
showed some weakness. Realizing sales,
however. by the local traders we're soon
overcome by the appearance OF large orders
rOa me transeontinent1l stocks. and the
upward. although momentarlfy checked Al
times by proft taking.
lraoinS lacked the breadth and activity
o. the early operations Of the week. but
thers was a marked undertone OF conf
dence In the general situation.
aeciine to-day. demand bills declining 20
AS.sI5. and there was some talk OF the
likelihood OF early imports OF gold.
The payment to-day Of the second INSTALL
ment OF SlI.en.O0 on the Louisville and
NashVile account was looked to as contrib
utlns toward a further ease in the money
situation. az the funds Will speedily he re-
distributed again through the usual hank
ING channels Payment was made by the
.subreaSury to-day OF 10000 on transfer
accounts from San Francisco. and Il Is eN-
pected that further consignment OF Klon-
market In a few DAYS.
No currency transfers have been made to &
the interior ~ this Institution this week. .
and there was a feeling IN banking circles
that the general condition favored lower
money rates.
In the late session. stock trading was vlr-
tually stagnant at Ines. especially when
tne market was under pressure from reaiiZ-
ing sales There we're occasional bursts OF
acuVlty. ana these as a rule were marked
by advancing prices. Proht-takinE sales
outweiEhed the buying orders in the nnal I
hour, ana there were a number OF impor-
tant reactions which were not checked by
final up-turn IN st. Paul to the best. The
closing was dull and easy.
The bond market was dull to-day. hut
a firm tone. Total sales par value
2.455.O0.