The daily morning journal and courier., 1902-09-04
Eima,teia1.
THE STOCK MARKET.
I" Marked Contrast to Tint on ruesaa

In Mar ked Contrast to Tint on Tuesday
 New York, Sept 3.-The course of the stock market to-day was in marked contrast to that of yesterday in that it was governed largely by different in- fluences, although Reading and some of the other coalers were again we'll to the fore. Opening with 8 renewal of the previous days bullish enthusiasm and strength the list received what at first threatened to be serious setback on early news of the accident to the presidential party. Rmnors more or less conflicting were numerous, and the list underwent a general recession. As soon as the extent of the disaster be- came known the market recovered the greater part of it's strong undertone, but for time there was a marked de- crease of operations. Later, however, the early activity was resumed and the day as a whole was the largest in vol ume of the present season. The last hour witnessed an extraordinary spurt in Pennsylvania, that stock selling up to 1884, net advance Of points on transactions involving over 100000 shares. The advance in isis stock was accompanied by Tumors crediting the road with control of Reading. Another reason advanced in explanation of Pennsylvania strength was the rather good showing made in the company's re- ports for the first seven months of the year. Net earnings on the lines direct ly operated by Pennsylvania for the period named show an increase of over $2,500,000, while the company's lines west of Pittsburg and Erie show an in- crease of more than $1.5OO,000. Inter- est continued to center largely in Read ings, and the common opened with a material advance on heavy transac- tions. The gain was almost entirely wiped out as soon as the Pittsfield inci- dent became known. Subsequently, how ever, the stock more than recovered this loss, selling up to 7S1s, closing at 761S and registering net gain for the day of more than point on transactions aggregating over 2S5,000 shares. The other Reading issues, on moderate trad ing, made fractional gains. There were no material changes in the other anthracite stocks except in New Jersey Central, which declined four points. In the soft coal group Norfolk and Vest ern was the feature, the stock scoring substantial gain on fairly heavy trad ing. Pittsburg, C., C., c. and St. Louis on very light transactions made net gain of over six points, and Chesapeake | and Ohio, in which operations were quite extensive, also closed at material advance.
 Labor Commission Wrights report on the strike situation excited little com ment. In many quarters the report was regarded as distinctly favorable to the miners. The trading in Reading had ever indication of competitive buying and reports of an triangular contest 1 involving Pennsylvania, Morgan and | Gould interests were prevalent. Penn sylvania's sharp advance toward the | close, already referred to, gave color to these rumors, but nothing tangible came from any authoritative quarter. In addition to Reading common new high records were made by Atchison,
 Baltimore and Ohio, Norfolk and Vest
 ern, Pennsylvania, St. Paul. Detroit
 Southern pf, North American, Wheeling and Lake Erie Sloss Sheffield Steel is- | conspicuous stocks. Marked strength
 was shown by Illinois Central, New York Central, Rock Island, Denver and
 Rio Grande, Manhattan, Sugar, Amal-
 gamated and Anaconda Coppers and
 International Power. On the curb l Northern Securities was again very
 strong with new high record. Mone- 1 tary conditions continue satisfactory
 although fair amount of money was
 placed at 6 per cent. The prevailing
 rate was 51a per cent. Reports from
 Washington agree that the treasury is
 prepared for any possible money strin- gency. In brief there promises to be
 abundant resources to meet the crop
 movement Contrary to expectations nc
 transfers were made by the sub treas
 ury.
 The bond market continued very &C.,
 tive and showed some irregularity on
 profit-taking. Total sales par value l $4,1S5, ,000.
 United States bonds were all un- | changed on last call.