The times. [volume] (Richmond, Va.) 1890-1903, 1902-06-06
The COAL 5TR|K
IS IN EVIDENCE D |.
Wall Street is Taking a Serious
View Of the Situation.
STOCKS SELL OFF SHARPLY
And There is Very Bearish Feeling
Among the Traders-The Mar
ket Closes Weak
and Active.

Wall Street has turned very bearish on
the strike situation, and yesterday after
noon the market became very active. a
selling movement set in and there was
no support. It is feared that troops will
ne. called out to protect the mines. II SO
there may be serious clashes between the
soldiers and the strikers. the very thought
of which gives Wall Street the shivers.
It is unusual for @ continued dull mar
ket to have q sharp decline, but that was
the case yesterday and it looks like the
market is going lower ..n,,.
: Ladenburg. Thalman s Co: say: Inc
news from the anthracite region IS 5,. uar
favorable in that 1t fOreShadoWS a Dltter
tight: From private advices we learn
that preparations have been made 10
move troops at once should serious US
order occur. While this would probably
prevent irreparable damage to the mines,
the calling out Of troops is a grave step
and the necessity for so doing would
have its in ASoTaG eF vi VIEW RafAe'.
. Sweet & Co. say: Slowly but surely
the Street Is beginning to realize that a
strike involving some ONE. la 600 e men IS ex
tent other industries in the country that
there is every reason why values IN wall
Street should depreciate:"
+ A prominent Richmond broker is 40
vising his customers not to buy stocks,
but to close out their holdings whenever
they can do so on anything like favor
<'0'e 40 Low PRICES.
In Yesterdays market the decline was
led by Canadian Pacific, which sold
down to 1927. Recently this stock IS sold Ole
St. Paul was also weak and there was
good selling of Union Pacific and Atchl !,
son. Reading was notably weak t and f ha q
down to 61ss. Previously this STOCK had
ed 63. Louisville and Nashville went
down to 1851. Southern Railway lost a
full point, Chesapeake and Ohio went
The street stocks were notably weak, the
preferred selling at ssh and the common
at 391z. This is lower than the average
Strike st.he last summer. Chemical went down
to 691a. but at the close 1t moved up to
RAILROAD EARNINGS.
But in spite of all this the railroads
are doing a fine business For the fourth
week IL May, Southern Railway earn
ings increased sos, $50: Norfolk and West
louisville and Nashville. SCI, s57; ST. Louis
and Southwestern, $50 900; Missouri Pa
cific. $4,000; Texas Pacific, decreased.
TOBACCO BONDS.
A Wall Street concern says: I'm quar-
tiers where there is often good informa-
ton in regard to the tobacco stocks sen,
Tobacco bonds. These bonds were Issued
for the common stock Of the American
and Continental Tobacco Companies in
former and dollar for dollar In the case
OF the latter. This deal has been criticised
on the ground that it did not seem sound
financing to substitute a fixed charge
for dividends. which in the case of Con
tinental Tobacco was only at the rate OF
2 per cent. per annum. while the bonds
pay per cent. Since that time. however
the dividend on Continental has been in
creased to 10 per cent. and it is under
stood that there is no longer any of this
stock outstanding. SO that all surplus earn
ings will hereafter go to the Consoli-
dated"
THE CLOSE.
THE market closed heavy and very
near at lowest figures of the day. The
declaration of an extra l. per cent. divi-
dend on Northwest failed to stimulate
the market. Money remained practically
unchanged. almost all loans being made
at 8 per cent"