The Washington times. (Washington [D.C.]) 1901-1902, 1902-05-17
Stock Market Reflects the
Strike Situation by
Declines.
CLuSlNG HEAVY III ITS Tone
Money Movements Indicate a
Favorable State
ment Today.
READING OFF THREE POINTS
oeiawaTe and Hudson Also Affected by
the Cessation of Work in Anthracite
fields-Railway Bond Market Irregu-
aT-Portland Preferred Slumps.

NEW YORK, May 16.-The decision of
'he convention of delegates representing
ABOUT $4,000 anthracite coal miners TO
ioree more than precarious contest with
the anthracite coal producing and carry
ing companies. TO secure their alleged
rights. appeared today TO obscure all
other considerations bearing directly up
on the prices of stock exchange securi-
ues. The dealings in the general list.
however, showed only moderate increase
over yesterdays extremely light record.
Declines Begin Early.
In the early trading average declines in
prices OF point or more were sustained
D! number of the standard railway
shares and the losses extended to 2 per
cent in Reading common and Delaware
and Hudson. Later in the day further
weakness developed on reports that the
United Mine Workers organization would
attempt to bring about a general suspen-
sion of work by all of the coal miners of
the country, including those employed in
the soft coal regions. the greater number
OF whom are under contract with their
employers until April / of next year
Reading common reckoned as full shares
LED the entire market in point of activity
and ii sustained an extreme decline of
points. closing at the lowest figure. Del
aware and Hudson sustained an equal net
loss On transactions of only 4 ,50O shares.
Eric common left of 112 per cent lower
than yesterday on sales OF little over
S,OO0 shares and Pennsylvania Railroad
lost as much on slightly larger trans
actions.
Other Active Railways.
The only other railway stocks that were
fairly active. aside from Union Pacific,
which was close second TO Reading
common in extent of interest and left Off
TX per cent. net lower, were ST. Paul
Chicago and Alton, Canadian Pacific. and
Reading second preferred. In the issues
mentioned the final losses ranged from
10 ~ per cent.
On limited transactions Atchison COM
mon, Chesapeake and Ohio, Illinois Gem
trail. Kansas City Southern common,
Louisville and Nashville New York Gem
fra1, Southern Railway. Southern Pacific,
and Wisconsin Contra; sustained net de-
clines ranging from ! to 2i9 per cent.
Rutland preferred, or sales of only 1900
shares. finished points lower, although
the closing figure showed considerable
rally from the lowest figure. The move
inent was attributed in part to an IN
favorable quarterly statement of earnings.
Favorable Showing LikelA
There were indications of favorable
showing tomorrow by the associated
banks. Some of the more prominent To-
cal institutions have decreased their loans
anywhere from 100000 to s5,OO0.OOO, !
and have reduced their deposits and also |
increased their cash considerably from To- |
cal sources. But for an extraordinary l
shipment of about 81 100000 in cash TO |
Boston, incidental TO payments to be |
made by some OF the New York trust COM |
panies, the banks would have gained a
considerable sum from the direct receipts |
of currency from the interior.
AS II Is, an increase in lawful money is |
reported as approximately Sl,000.0O0, not
outstanding excess OF collections by |
the subtreasury of over 100000 up TO the |
close of business Oh Thursday. Pension
payments that will be reflected to only a
slight extent in the bank statement were
responsible for a debit of the institution
mentioned at the clearing house this
morning, amounting to s,i72.74j. Consid
cradle Improvement was shown in a num-
Der of reports of railroad earnings that
were submitted.
Declines General.
In the unlisted department activity was
confined to Amalgamated Copper. which
sustained a net loss Of IL points, Colora-
do Fuel and Iron. which closed 2lz points
below yesterdays final figures, and United
States Steel common, which sustained a
sIitht fractional decline. on nominal
Mestinghouse Electric and