Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-05-14
Dizziness Was the Feature in
Stocks Today.
PUBLIC HOLDS ALOOF
UNCERTAINTY AS TO COAL
STRIKE THE CAUSE.
Brokers Would Be Glad to Have tbs
Matter Settled, No Mat
ter How
Special Dispatch to The Evening star.

Special Dispatch to The Evening Star.
NEW YORK. May iI-EStreme dullneSs
prevailed in all departments of today's
stock market, but sentiment was hopeful
and prices firm in spite OF the lack OF busl-
ness. London again sent over a higher
range of prices. and traded in some 1000
shares of stock, mainly Union Pacific and
Atchison- The convention of miners dis
Outraged active trading. but the coal
shares were firm in spite Of a possibility OF
a tie-up.
Recent dilatory tactics gave rise to the
belief that final action would not be taken
until later in the week and again the delay
was thought to favor conservative action
Operators were inclined to expect a strike.
but believed that it would be less pro-
longed than has been predicted The ex-
pressions OF confidence in President Mitch
ell handling of the complex questions
lead to the conclusion that he will doml-
nate the hnal action and will caution min
ers against extreme measures during the
progress OF the strike. should the conVeu-
tlon decide to make the order permanent
IN many quarters OF the street the desire
lor action OF some sort on the part of the
miners Is greater than the concern as 10
the nature OF such action. The market is
being held in check by the uncertainty and
commission houses are practically bare of
business.
greater part Of the day, and came down
TO per cent during the afternoon
ne money rate is more vital to the we'll
pelng OF the general market than the coal
strike, and numerous plans are held in
check solely because OF the uncertainty as
to the money rate. Dizziness must prevail
Tor a time IL proper regard is hsd for
existing monetary conditions The crop re-
port seems to throw the brunt of the re-
sponsbility for profitable grain tonnage
upon the success of this years corn crop.
The condition of wheat is not reassuring
and the success of corn is sufficiently vital
to keep the summers market in a state Of
nervous expectancy. While the situation
Is admittedly confused and complex Il does
not follow that advances are improba ble
II suggests, however some DISCRIMINATION
with advances and declines going on I'm
dinerent parts of the list at the same
time.
Experience and caution are qualifications
which command high premiums under such
conditions.
Buying of Union Pacific around los was
feature of today's market. the Gates
party being credited with the new demand
While the price held well there was plenty
or stock supplied at fractional advances
over the price quoted. Missouri Pacific was
STEADY under moderate demand, but the
street inclined to the view that the selling
was better than the buying in the other
Gould shares
Northwestern sold at an advance OF IL
per cent from its low level of yesterday
ana there was moderate recovery in other
high-priced investment issues What seem
ed TO be an inside demand for Westinp-
mouse Manufacturing was regarded as sig
nihcant. since 1t is thought the company
may follow the recent action of General
Electric and increase its capital to the full
limit. In general the Industrial list was
without significant feature, except for tho
heaNlness OF the steel shares.