The Montgomery advertiser., 1902-10-10
WALL STREET REvlEN
STOCKS CLOSED IRREGULAR
 WITH SOME HIGH.
Believed That J. P. Morgan Desires Compromise With Coal Strikers and Caused Baer's Resigna-
 tion-Bonds irregular.

NEW YORK, Oct o-Today's stock market was much the same as that of yesterday. The the general show of early strength gave way to an intensely dull and hesitating market in the ns ons%g Ss it dd with of the leading stocks at top prices and others at bottom prices and sagging uncertainty be- tween those levels for the majority of the list. The favorable outlook for easier money and the strong current belief that the coal strike was on the eye of settlement were the mo gency in the case of some of the coalers.
 The obvious fact that earnest consultations bring powerful influence to bear to effect a settlement of the strike gave color to the be- lief and gave rise to countless rumors none yorite story this morning was that J. P. Nor gan hnd asserted his authority ia favor of a compromise with the strikers and that Presi- dent Baer of the Reading had thereupon re- signed
 Reports were current that large orders which had been placed abroad for coal were being cancelled by cable on account of the immi- hence of the resumption of mining. official disclaimers of many of the rumors were put out during the course of the day and prices declined in conssquence.
 Stocks of gas companies shared most not ably in the strength of the coal stocks, owing to the relief the coal strike settlement would afford to the scarcity of material for the manufacture of gas. However. gains of l@2 points were very well distributed through the list at period of the highest prices
 The payment yesterday by the sub-treasury
 
 at San Francisco was supplemented today by the payment of S670 900 additional on the account. An incoming steamship also brought another million dollars worth Of gold of the South African consignment secured ny the National City Bank The sub-treasury has contributed a small sum to the money market during the week regular operations It ap- pears. therefore that the banks have gained gold to the extent of about S5 900 900 to offset the shipments to the interior. It was the knowledge of this condition that caused the hopes of easier money. But while no liquida- tion forced by calling of loans. the banks still refrained from extending loans on the stock exchange
 late in the day call loans mounted again to IS per cent. Rates for time loans for thirty days to six months are still held in the neighborhood of 8do per cent. for the various periods. thus showing the conviction that money will continue scarce well into the com ing year Sterling exchange steadied again today and intimations came from London that the Bank of England is preparing to borrow money from the market in order to check the downward course of discount rates and pre- vent possible gold exports
 Tho weekly statement shows that the English institution had lost 5.62 .o65 in gold The Bank of France in the same time lost S2.- at Chicago dropped today to 25d3o cents dis count compared with 10 cents discount yes terday. thus indicating pretty clearly the direction which will be taken by the nrst money that can be spared by the New York banks. The stimulating influence Of the nope of easier money also counteracted In this way. helping to the irregular tone of the late market.
 Bonds became irregular in sympathy With stocks Total sales lpar value). S2.72o, 900. United States bonds were all unchanged on the last call.