The times. [volume] (Richmond, Va.) 1890-1903, 1902-10-17
COL SETTLEMENT
AFFECTS c, PRICES
Lrices in Wall Street Open With
an Upward Rush.
N. & W. ADVANCES SIX POINTS
london Buys Actively American Sc
curi,ies as a Result Of the Set
Element Of the Coal
Strike.
Er Associated Prcs..l

n-rys YORK Oct l6-The formal an
nouncel1eni that the coal miners repre-
sentatige-s had agreed 10 submit tneir
diniculties with the coal operators TO the
hoard of arbitration appointed BY Fresi-
dent Roosevelt removed any Lingering
doubts that existed in Wall Street as 10
= ,ossitie hitch in the efforts to bring
nbou; a satisfactory solution OF the mat
ter With the removal Of this ioHs-cet Ter
rent factor as a market influence, spec
uators began to figure on the bene,ic,iaIi
effects on general business that wouio
follow the resumption OF active mn. .
operations. News from the anthra s.sa.s
region. indicating that the miners y q :
in 5ubiiant spirits over the prospecl u "
speedily returning to work. was siesleu
with great satisfaction. as was iiie slt. D,
ment that the mine operators were nl ma,
ing preparations to resume "oih On a
Advlces from abroad that the situation
was viewed there with great t caI and
caused heavy buying OF the genoa. i n,ao :
iiet ondon showed Its satislacilo!i ~ %
the outcome by creaains o s,5ei as Inert,
and supplemented with some iaiEe.p us
ing orders here Prices OPENED VAIN M. d
rush upward. and huge blocks ,r q LIS
wese bought at rising prices Inc open
ing from the sCoaiers was VICE. ana tnele
were $500 shares of Pennsylvania PUT,
chased on fractional sIfea3d. iniu IA.
the active list. and after temporary
setback the rise was renewed with Tiger
and advances of 2 and even 8 penis Pc
came numerous. The buying movement
embraced all of the usual favoriteS ana
al times was heavily conferred in various
groups, particularly in the Pennsylgan
sro1ip The pronounced strength of the
ma rket brought out the usual crop of
rumors regarding special stocks. I'artlcu-
larly Norfolk and Western, which ad-
an Increased divided Much of the heavy
b,,yirg throughout the list was crediteo
TO a operator who has recently returned
to the street after an absence abroad .1, i'd.
the favorable aspect of the cIal strike
situation. the street began to regard that
incident as secondary factor IN me
market and commenced to discount the
expected easing UP Of the monetary sit
uation through the rumored mond Pur-
chases by Secretary Shaw: Nothing de-
finite regarding this developed through
the day. but there were many ciTcun-
stantial accounts touching the transac-
ton. II was reported that the amount
would be rendered by a syndicate on sat
isfactorv terms. Professional iradelr
were inclined to regard the heavy buying
as foreshadowing an early announcement
Of the transa ction.
Room shorts showed much concern over
The heavy absorption OF stocks and co..
sred pretty extensively in many q the
leaders The market al times showed
some hesitation while realizing was IN
progress, but where this process was GO
Ing on the effect was largely counterhal-
enced by heavy buying at other points
Monetary' conditions to-day were more
Favorable to borrowers, and there were
more liberal offerings Of time money re, pc
n1ense volume in the closing hour. and
there were many blocks of thousand
shares and upwards taken. one block OF
b.0lo shares of Norfolk and Western
changing hands at so. Prices all around
were quite generally lifted to the best.
and the closing was very active ana
st Tha hond market showed pronounced