Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-10-09
STRIKE HURTS STOCKS
Coal Operators are Held Respon.
sible for Disturbance Of
Financial Interests
STONES ACTION HURTS THEM
of Troops Now Brings Mat.
tiers Up to the Operators to Mine
Coal as They Had Promised If Nom
Union Men Are Protected-Monied
Men Want Settlement.

New York, Oct. at developed late
yesterday that the coal operators arr
getting scared over the strike situation
Outwardly they announce their belize
in an increase in the output OF the
mines under the protection of the Penn
sylvania militia. As to the per cent OF
such increase they give no figures
which is the vital thing.
Their uneasiness arises over the fac'
that the action OF Governor Stone mas
given them everything they asked, and
it now devolves upon them TO NINE
coal. A 10 or 10 per cent gam IN the
output will not meet demands. III tnes
are unable to produce coal they WA
find themselves in an awkward posi-
.tion and one which will cause uneasl-
ness here.
e Openly they have no criticism for the
presidents efforts to bring about an enc
to the strike. But among their 1rlenus
they say the good intentions OF the
president have solicited the miners anu
rendered strong the probability they
will not return to work. The onus'
therefore. of a coal famine will rest up
on the operators. representing capital.
The operators and financial interests
here feel that should the strike be sue
cessful in that the companies should De
unable to produce an adequate supply
IF coal. even with protection, such
situation would lead to anu-capilalstic
legislation as well as a strong ieeiins
thruout the country against moheyeu
interests. Such public sentiment at
this time would be harmful 70 the STU
alton in Wall street.
It may as well be UNDERSTOOD .nal
money is tied up here because OF ma
.hility to float combinations aggregatlns
hundreds Of millions of dollars. "A pop
Mar cry against the coal trust Suggest
nossible embarrassment to the repuph-
can narty. and then would follow uncer-
tainty and the usual train OF evils
which Immediately appear upon the
of the possibility OF
change in republican policies
ronrressional elections to be held
next month will be given particular
interest II the coal strike remains I'M
settled. There is a feeling that nature
~ the operators to produce coal VII.
mean a. great fund Of material for DEM
oc,.at;c candidates And for other rea-
sons which appeal to those who deal
n credits the situation as 1t stands to-
day can readily be understood 70 De
serious.
President Baer's assurances tna'
there will be no coal famine on tne
Atlantic coast are met with heaNy mn
port orders for the output or foreign
mines. Today IL is estimated that al
least 100000 tons of coal have been
in England, Scotland and
Wales. Scarcity of coal in New York
CITY at the beginning OF cold Weather
IS regarded as nothing short OF calam-
itous by the people who have such
large interests at stake In maintaining
and state order.
There was an unauthorized story here
this afternoon to the effect that Mr.
Morgan had suggested to the operators
that, inasumch as Gov. Stone had
made good" upon the question of pro-
lection by the militia, the operators
were expected to mine coal.
1t is known thru persons close to MI
that he would be greatly re-
lieved to see the mining Of coal sue
cess. but up to date there is no rea-
son to believe he will interfere with
President Baer. The operators and
their friends entertain the fixed opin-
ion that the principle that the Amerf-
can laborer should be permitted to
work if he so desires is fundamental
and should be guarded. They are will
Ing to risk a great deal in the uphold
Ing Of this proposition.
SO long as there were riotous dem
onstrations, including score of killings
and half a score OF house burnings,
in the mine regions, they felt reason
ably secure in their general attitude.
But If the Pennsylvania militia main
tains order and coal is not mined the
case Of the operators and their friends
is lost with the consequent fear OF re.
suits in dicated in the foregoing.
A great deal is heard in Wall street
about the desirability OF the miners in
1t is alleged that no legal
attaches to the obliga-
tons of the men, whereas financial LA
bility rests with the operating COM
panies. 1t is pointed out that an agree
ment reached with Mr.. Mitchell counts
Tor but little in the event of the men
changing their minds. While this is an
I'D suggestion, 1t is fact that 1t Is be-
ing urged as a means of equalizingI
rust responsibility.
The mineworkers' organization Is re-
sarded as a trust fully as powerful as
my incorporated industrial or other
institution. For six months
The miners organization has prevented
The production of coal because it's prop
whether right or wrong, were
not acceded to. The result has been
he same to the consumer of coal. The
rust idea has been powerfully opera
i've, but no legal liability attaches to
The organization which can thus &C.
such momentous results.
Money continued hard to borrow here
-oday. ranging from to Is per cent,
md closing at top price. Time loans
night have been made at per cent
rom four to six months, but per cent
or such periods was freely asked.
The stock market showed some slight |
'allying power. but 1t was only tenn
lorary. No loans We're reported called
md the technical position Of stocks has
because of the severe liquida-
ion in the last ten days. There Is
rood reason for feeling more comfort |
,ble over the market, but there is no
.eason for expecting a bull campaign.
Optimistic assurances on this point may
IS we'll be dismissed. Said one who
lnows:
MI INT fn