Evening star., 1902-05-07
Fears of Coal Strike Unsettled
Stocks.
MARKET IRREGULAR
WESTERN CONTINGENT BOUGHT
SOME STOCKS LITERALLY.
Reports of Rains in the West Helped
to Carry Up the
Grangers.

Special Dispatch to The Evening Star.
NEW YORK, May 7.-Opening prices this
morning were generally irregular as the
result of the differences OF opinion on the
coal strike and similar frregularity In the
London market. The trading from the lat
ter center aggregated 1900 shares, about
evenly divided between purchases and
sales.
The western element came to the front
as conspicuous buyers during the morn
ing and numerous specialties were marked
up substantially.
Chicago and Great Western opened under
a good volume of business, but later reacted
under realizing sales induced by Presid,r.l
Stickney's assertion that he and his friends
owned the control and that such tr,ldiucS
could not be bought In the open market
Kansas City Southern Issues came into
prominence and advanced substantially uu-
der rumors that the Great Western had
purchased the European holdings and was
virtually in control.
Colorado Southern shares were w,Il
bought by inside interests, but there was no
pressure Of stock and the dealings were not
large in volume. Detroit Southern issues
advanced on the reported financing OF the
extension into the Ohio coal fields and
Wisconsin Central showed signs of new
life under buying said to be for control The
demand for these low-priced issues was
regarded as shifting of new business to
the low-priced group generally.
The rains in the west encouraged a new
demand for the granger shares all Of which
reflected gains Of about 1 per cent. Union
Pacific and Southern Pacific were marked
up by the pools. and there was quiet de-
mand for Atchison around 50. Louisville
and Nashville made new high record and
there was the customary sympathetic i'm
provement in Monon
one OF the more plausible runors Is that
the latter stock will be exchanged for the
former on the basis Of one share for two
should this be true Monon's present price
would suggest substantial advance in
Nashville prior 10 the exchange.
Reading Issues were inclined to Weld I'M
der the mixed selling inspired by the wide
ly different views on the coal strike
The Morgan office was quoted as saving
IN rather positive terms that there would
be no strike at this time. From Scranton
came the report that the operators had
made no concessions and that the men
were In ignorance Of any plan TO avert the
tie-up. During the afternoon the rumor
was circulated that strike had been de-
clared and fresh selling set in
This selling was helped by an advance I'm
call money to II per cent and practically
all OF the early gains, except in the low
priced spectalties, were lost during the
hnal hour. During the last hour the street
realized that the largest buying of the
morning had come from the western -eie-
ment, and was. therefore, entirely specula-
tive. Mixed selling followed and a new
line of short stock was put out Just before
the close.
There was a better tone in the copper
markets, and Boston houses bought Anal
gamated Copper on rumors of peace among
rlNal trade intrests. Tennessee Coal and
Irons statement of earnings was decided
disappointment and the stock sold Off i'm
consequence. Colorado Fuel declined in
sympathy. but the United States Steel
stocks were given good support as re-
suit of very favorable showing as to
the years business The market closed
with irregular net changes and with its i'm
mediate future hinging largely upon the
conclusions of the Scranton convention