Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-06-11
London Takes the Buying
Side of Market.
LIST MOSTLY HIGHER
WESTERN CONTINGENT LEADS IN
BULL MOVEMENT.
Changers Strong on Crop Reports,
Pools at Work-Low-Price
Stocks Attractive.
Special Dispatch to The Evening Star.

SlSClhl pispatrn 10 ne EVENING star.
NEW YORK, June l1--Rumors of an
early settlement of the coal strike. while
lacking confirmation. served as an incentive
to higher prices in today's stock market
The western element were leaders in the
movement and sent In buying orders TO all
parts Of the regular list In the hope OF Civ
ing the market an appearance OF breadth
London traded in about 10000 shares more
than half of which were purchases
The government crop report was not Who'll
ly favorable. but was thought to have mora
that was encouraging than otherwise. Buy
inG of st. Paul and Union Pacific was con-
sidered logical in view Of The favorable
showing of crops in their respective sec
tions. Atchison was less buoyant for
time, because conditions were not quite up
TO expectations. but the price was firm in
spite Of this fact.
The growth OF miscellaneous traffic along
the lines OF this company insure large earn
lngs Tor some time to come Missouri IA
cific was unusually active. and there was
a new pool at work in Missouri. Kansas
and Texas. The Gould stocks as a group
were in fair speculative demand the ncs:
buying of Missouri Pacific serving 10 a.
tract attention TO the low-priced members
of that group.
Rumors of an increase IN the dividend on
the stock named. provided there Is no croD
disappointment, were circulated but at
tracted little attention outside of the room.
The coal stocks were strong, the uncover
ing of stop-loss orders ln Reading helping
to advance the price to the best leVti since
the strike was declared. The higher-priccd
members of the hard coal group held well
at slight gains and there was some indica-
ton that the operators We're gaining ground
Publication Of the correspondence between
the operators and the union. while a sur
prise TO the latter. was taken to indicate
confidence IN the correctness of the posi-
ton assumed by the operators AT the out
set. The parties directly interested insist
that no new effort toward a settlement is
known to them. but there is nevertheless
well distributed belief that the difficulty
is nearing an end.
The soft coal strike is not a success. and
the roads in that section found place in
todays market recovery. Several of the
W Meyer properties were manipulate
into public notice during the day aud there
was a successful bidding up in Interna-
tional Power through the same process
The industrial list as whole was dun and
irregular. American Car and Foundry WAS
strong under buying said to be in the in
terest of accumulation.
Sugar was taken in trade circles on the
theory that current business justified an
advance in spite of any hitch in Cuban
reciprocity. Commission houses report a
continued lack of public interest but ex-
pect a revival OF outside business once the
coal strike is settled. The action of the
market during the first four weeks OF the
strike has encouraged confidence in its abil-
ity to withstand disappointment and to al
lay apprehension
With earnings continuing on the present
scale and crop news reassuring there would
be plenty of material for an advance orse
labor troubles are eliminated as a deterrent
factor
The money rate continues easy and the
supply is ample for limited needs. The
banks are fully alive to the needs Of the
situation and may be relied upon TO hold
speculation in check for a time
The July disbursements are TO be ar
ranged for shortly. and after them the
crops are to be moved. With these pro
visions made an extension of credit to Wall
street patrons may be looked for. Mean
while the market should have plenty of
friends who will come In on any conces-
sions from prevailing prices.