The times. [volume] (Richmond, Va.) 1890-1903, 1902-05-09
Stock Market Has Recovered
Partly from its Weakness.
MONEY WENT TO 9 PER CENT
Market Fell Into Dizziness Late in Day
While Awaiting News Of Strike Sit
uation in Consequence Volume
Of Dealings Was Small.
fEy Associated Press.,

NEW YORK, May S.-Stocks recovered
from yesterdays weakness to-day, al
though there was considerable uncertainty
manifested in the prevailing sentiment
- more cheerful teeing over me ai anita.
cite outlook is responsible for CONSIDER
able rebuYing by snort sellers OF EcsieI =
Gay, who protested confidence last nlSht
ltnat a strike could not be avoided. me
hesitation which developed in the market
waS due TO a considerable extent 10 the
action taken by the Mine Workers Con
rention, which represents an entirely new
phase of the situation.
The active Coalers reflected no misgiv-
ing after the announcement or the miners
offer 10 arbitrate. but they fell into COM
Yaratiye dullness. The high-priccd Coal
erS offered the anomaly OF early weak
13ess while the Readings We're advancing
and g strong recovery after the demand
FOR the Readings had largely died
out The whole market fell into dizziness
in the latter part of the day while waiting
for the announcement of the reply OF the
anthracite operators TO the offer of the
miners. The result is that the day trans
ACTIONS are not many over half those of
yesterday. Outside the Readings the prin-
icipal activity was In st. Paul. Union
Pacific the local fractions and Southern
Railway. Union Pacific and st. Paul We're
bought heavily for western account, the
attraction being attributed to crop corldi-
TORS. The referees decision. unfolding
the constitutionality of the New York
franchise tax law, induced some ACTIVE
liquidation of the stocks of New York
Public Street Railway shares. but they
were we'll supported and rallied.
The advance in Louisville and Southern
Railway met realizing Reports Of an ap-
parent contest between the two interests
for control of coal lands increased the
disposition TO sell Illinois Central be-
came strong in contrast TO its weakness
Yesterday. while the other two stocks
were advancing. There were evidences of
strength among various minor stocks
which arc supposed TO he the subject of
manipulation by speculative pools, al
though runlors continued to circulate Of
their prospective absorption or merging.
Tennessee Coal and Colorado Fuel were
under pressure. The last named. however.
recovered 10 well above last night Inter
national Power fell points below the last
sale price. but nearly recovered. There
was sale of ST. Lawrence and Adiron-
dacl5 at 81. COMPARED with the preceding
the collapse OF the Webb-Meyer stocks.
The incidental statement by DR.. Webb
that he had sold the road 10 a. l.. Never
was news to the public this morning
Money went to 9 per cent. again to-day
nut sterling exchange turned weak and
New York exchange at Chicago recovered
flfom 70 cents discount to 10 cents pre-
mum. Money brokers report offerings of
large sums for lending in New York from
various quarters of the country The loss
already this week 20 the sub-Treas,ry of
considering the money market situation
The bond market recovered to-day IN
sympathy with stocks Total sales mar
value. E3l60.hs0 United States IS and the
new As declined Il per cent on the last
lcall.
The total sales of stocks for the day
We're $4,000 shares.