Evening star., 1902-09-15
High Money Rates Checked
New Buying.
COVERING BY SHORTS
HIGH-PRICED SHARES SHADED
OFF SLIGHTLY.
Union Pacific and Southern Pacific
Supported by the Pools Be-
hind Them.
Special Dispatch to The Evening Star.

Special DISPATCH to The Evening Star.
NEW YORK. September 15.-Contiuued
high rates for money checked new buying
In today's stock market, but forced little
or no significant liquidation. Prices were
steady for a time, under a good demand
from the short interest, and fair support
from the pools. London traded in some
10000 shares, about - 900 of which were
purchases.
Money was again quoted around record
rates. but the condition being expected
caused little concern. General conditions
were considered as being encouraging. and
the stock market might become dul with
out prejudice to its ultimate course
1t is clear that the banks arc in no posi-
tion to finance big rise in the market at
this time, but ii is encouraging to note that
they expect TO help later. Expanded loans
and depleted reserves need immediate at
tentton. and no discourtesy is intended
when the stock market is asked 10 wait.
In addition to crop moving demands. the
second installment Of sl5.O0001O on account
of the OreEon Short Line bond transaction
helped to keep todays call rates arm Spr-
c al transactions of this character are lik,Iy
to be better timed in the future and avoid
competition with customs payne nts and
the needs OF the interior.
The coal strike continues to stand out
prominently as the one distressing feature
of the industrial situation.
The increasing output from the mines
falls to weaken the position taken 10y ,he
union and coal stocks again showed dis
appointment with this feature OF the sit
uation. Leading operators are quoted IS
saying that coal will be shipped i'm volume
within three days after the miners are as
sured of protection. The contest has been
waged at such an expense that a decisive
victory for one side or the other is desir-
able
Wall street and the public generally agree
that such episodes should be made impos-
ment in the matter now, but some definite
result at an early date is,demanded.
The high-priced Investment issues shaded
off during the morning. but responded cas-
lily to the mixed demand which set i'm later
in the day. Illinois Central was well bought
on all declines, the rights to shareholders of
record at the close Of business on Friday
making the stock attractive.
Union Pacific sold down easily during
the morning, but was We'll taken at the
the property. and will make the most OF
every favorable opportunity. Southern Pa
ciiic is being cared for in the same way.
and nearly all OF the southwestern roads
have the benefit of similar strength.
Pennsylvania is taken by strong interests.
but there is some difference of opinion
al to the value Of Baltimore and Ohio with
its increased capitalization. New York
Central sold down for time. but rallied
later in sympathy with the whole market
Southern railway and louisville and Nash
vile were taken by Gates brokers, but
there was little demand elsewhere.
Money worked down under 10 per cent
during the last hour and prices improved
in nearly all departments. On the rally
gains varying from y to l per cent were
numerous. The volume Of business was
small, but the undertone was remarkably
firm.