Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-05-21
Stocks Showed Considerable
Strength Again Today.
LONDON BOUGHTFREELY
COMMISSION HOUSE MEN DIS
COURAGE SPECULATION.
The Coal Strike Situation Continues II
Be a Feature of the
Market

Special Dispatch to The Evening Star.
NEW YORK. May 21.-Encouraged by
higher prices I'm the London stock market.
the local price movement tended toward a
higher level during the opening hour this
morning. Commission houses hesitated TO
encourage the purchase OF the general list.
however. and the lack OF Endorsement
checked broadening speculative demand.
In the specialties there good support.
and many OF them made substantial gains
Canadian Pacific was again active at q
new high level and held well in spite OF
realizing sales. Duluth, South Shore and
Atlantic and the 500 issues, which had
been forced into a sympathetic rise. re-
Elected realizing sales by the pool 4 re-
vival of the effort to tighten speculative
holdings In the junior Nanderbilts met with
only moderate success. the street being
skeptical Of the higher prices Union Pa
cine was strong under a good volume If
business, good supply OF stock appearing
at the high prices.
Northwestern was strong under a few
transactions and st. Paul was well bought
around 16S.
Alton was In good demand by a promi-
nent commission house and numerous low
priced shares reflected a steady demand
from the numerous pools In the event IF
Increasing narrowness in the general mar
ket it is considered likely that the low
priced shares Will be made active from
time to time.
The coal shares opened at advances ana
We're given good support slightly under
the opening level. There was some fear
that the union leaders might attempt some
radical action in the hope of relieving the
present commonplace character of the
strike. The lack OF interest I'm the tie-lIp
In Its present condition, has been some
thing Of surprise to a certain element
and there is a desire to force matters in
consequence.
President Mitchell's announce M Mt that n,
expected the engineers and pumpmen to bs
called out today, lost some OF Its signih-
canoe, because accompanied by a state
ment. that no offers of a sympathetic strike
had yet been made. Operators are prepar-
ing for the calling out Of additional men
and they are not wholly averse to such ac-
ton, since the absolute necessity for pro-
tecting the properties abandoned would
Justify determined action on their part
The contest following such action would
in all probability force an early crisis In the
strike.
The buying of Reading around GO again
Indicated purpose not seriously involved
In the present labor troubles. Amalgamated
Copper was the center of a large proportion
OF the days new business. Activity on the
metal exchange in the product at advancing
rates was responsible for some good buying
OF copper stocks generally.
The copper markets are improving and IL
is now felt I'm certain well-informed circles
that the worst has been passed. The buy
ing Of 1000 shares of Amalgamated Cop
per by single commission house before
noon, attracted attention and brought in
quite speculative following. The action OF
the stock for some weeks has indicated an
accumulation by interests close to the in
side In spite Of rumors to the contrary.
The steel stocks Were steady under good
support and the industrial list generally held
well. The traction group was duh and ir-
regular. Money continues TO work slowly
back toward more favorable conditions
Cali loans were made at 2i9 per cent, but
the active rate was about per cent Con-
sentative houses continue to make time
loans whenever opportunity to borrow
through the summer offers a. rates almost
equal to this weeks average call rate