The age-herald., 1902-05-08
STOCK MARKET
 QUITE NERVOUS Unavalling Effort to Contest the Downward Tendency LABOR TROUBLE PROMINENT Tennessee Coal Lost Over Points On Account of Annual Report,
 Which Was Considered
 DIscouraaina.

New York, May 7.-Today's stock mar ket reflected an unavailing effort to con test the downward tendency. After yes- terdays revulsion from the semi-demor- alization on Monday, com es the reaction ary tendency which was natural to re- store formal balance of things, but this tendency was reinforced by the decidedly sceptical sentiment over the prophecies of the anthracite labor settlement. These prophecies continued very confident rom sources with every means of authentic information. But the fiat contradiction of the rumors received from Scranton where the miners delegates were in con vention, caused confusion and uncertain ty and a suspicion that the Wall Street outgoings were in the nature of tips designed to influence the stock market. As a matter of fact, Reading, which was accepted as the index of the anthra- cite situation was lifted a shade above last night.
 The reports of the condition of the crop and the weakness of the grain market were a help to the 'graincarrying rail- roads and they made a good advance in the course of the days session. The continued aggressive strength of Louis- vile and Nashville and Chicago In- dianapois and Louisville and various smaller subsidiary lines, gained addi- tional influence from the response in Southern Railway, which was considered significant of closer relations in the whole Southern group; Nashville, Chat tanooga and St. Louis and Eastern 1lli- nois and Evansville and Terre Haute all shared in the movement. Illinois Central was a conspicuous exception and was heavy throughout falling at one time 1h. The advance in Kansas City Southern was attributed to the forma- tion of a pool in the stock. All of the strong points, however, yielded to the liquidation during the last hour, caused by the relapse in Reading to 2s4 under last night. Practically all of the gains were wiped out and the level of prices carried below last night. Realizing sales were much in evidence in Chicago Great western which lost 24 of yesterdays s Az points again.
 Tennessee coal lost over points on account of the annual report which was considered discouraging. United States Steel stocks did not escape the depres- sion, notwithstanding the extraordinary SAllDlliOH pl lHC id9l ySdi Q NiHAASeiNe'ptAN by the company. The money market was called easier today. The maximum loaning rate reaching 15 per cent with a subsequent recession to per cent, but the decline in the foreign exchange rate ceased in response to easier money and discussion was renewed of gold exports. Current receipts of Louisville and Nash vile stock from foreign holders are very large and represent requirements for for eign payments. There are reports of large loans during the week made in the stock market for account of outside insti- tutions, but it Is worthy of notice that s5OO,0O0 in currency has gone to New Or leans this week and New York exchange at Chicago ruled today at 20 cents dis count. Notwithstanding the relief af- forded by the purging of unhealthy spots in the market there is some tendency to a vague feeling that there may be some imitation still beyond the curbstone bub- bles, which collapsed last week.
 Total sales par value $4,305,0O0. United States bonds were all unchanged on the last call.
 New York Stock Market.
 B, Private Wire 10 Murphy & Ca