The Birmingham age-herald., 1902-10-16
PROGRESS TOWARD
 ADVANCED PRICES
No Actual Developments to Stir
 Stock Market.
END OF STRIKE IS NEAR
With This Feeling Existing and Belief That Shaw Will Do Something to Relieve the Money Strln-
 aency All Are Hopeful.

New York, October 15.-Further prog ress was made toward higher level of prices in the stock market today. all though there were no new actual develop ments in either the monetary or the coal strike situation to indicate any material change in condition Nevertheless, the feeling was more prevalent that the coal strike would reach an early amicable end and that measures are to be taken by Secretary Shaw that will shortly re- lieve the present stringency of the money market. His action was said to be in the nature of a further large government purchase, various interests being credited with holding large amounts which would shortly be turned in. The sum named ranged from s1O,0OO000 to s3o,Ooo,000 and the report was vigorously circulated throughout the street. Whether there was any foundation or not in the rumor, the money merlket reflected greater ease than in some time. call loans opening at 9c, the highest, and then sealing gradu- ally to 5 per cent.
 Considerable attention was given to the report that there would be certain modi- fcations in the terms proposed by the coal operators for a settlement of the strike which would assure less opposition from the miners of the points contested. Nothing definite developed regarding this report, though it was colored to some ex- tent by the heavy buying of Reading, which showed considerable strength throughout the day. The dealings were smaller than usual in other stocks of this class and there was a disposition in general to await active developments be- fore pursuing active operations in this quarter. Recent prices elsewhere aver aged a point pretty generally, with quite an active demand in a number of special ties. The Gould stocks as q group re- ceived the most consistent support, the heavy buying of Missouri Pacific having a sustaining effect on lower-priced stocks.
 Some disappointment was felt over the heaviness of the London market and as the arbitrage dealers turned sellers the early market showed some weakness. Realizing sales however by the local traders were soon overcome by the ap- pearance of large orders for the trans continental stocks and the movement throughout the day was mainly upward although momentarily checked at times by profit taking. Trading lacked the breadth and activity or the early opera tions of the week but there was mark ed tone of confidence in the general sit uation. Sterling exchange rates made a further decline today demanded bills de- clining to 4.S5. 3.75 and there was some talk of the likelihood of early imports of gold. The payment today of the second installment of $1700O000 on the Louis vile and Nashville account was look ed to as contributing toward further ease in the money situation as the. funds will speedily be redistributed again through the usual banking channels. Payment was made by the sub-treas- ury today of $2OO,0OO on transfer account from San Francisco and it is expected further consignment of Klondike gold will be available to the money market in a few days. No currency transfers have been made to the interior by this Institution this week and there Is a feeling in banking circles that the gen. eral conditions favored lower money rates. In the late session stock trading was virtually stagnant at times especial Iy when the market was under pressure from realizing sales. There were occasion- al bursts of activity and these as rule were marked by advancing prices. Profit taking sales outweighed the buying or ders in the final hour. and there were a number of important reactions which were not checked by a final upturn in St. Paul to the best The closing was dull and easy.
 The bond market was dull today but displayed a firm tone Total sales par value $2,475,000.