Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-14
FINANCE AND TRADE
Strike News Caused Strong
Stock Market.
SOME LIQUIDATION
MONEY RATE NOT ENCOURAGING
TO SPECULATION.
Belief That the Victory for the Miners
Will Hurt Industrial
List.
SOME LIQUIDATION
special .Dispatch to The Evening Star.

Special .Dispatch to The Evening Star.
NEW YORK, October 14.-Developments
in the coal strike were responsible for in
ttial advances In the stock market, extend
ing from to per cent. London bought
some 10000 shares Of various issues and the
local short interest was disposed to cover
freely. Prices held irregularly. however
and there was no really arst-class buying
reported. The street was unanimous In con-
STRUNG the new plan Of arbitration to be
victory for the miners
For this reason there was no enthusiastic
demand for the coal stocks Millions of
dollars have been sacrificed in the hope
that the old-fashioned principle of settling
risputes within the household Of their ORR
gin might be indicated. Whatever the
merits Of the struggle may have been the
street sees in the outcome encoura cement
to new outbreaks in all departments of the
industrial world
The prosperity which has made billion
dollar corporations seems destined to foster
devices for making the share owner divide
his profits with the man whose muscle Is
employed to double his money. The trust
evil is to be made endurable on the basis
of Increasing the number Of beneficiaries.
The coal companies are expected to re-
gain in few weeks all the money lost in
the five months of the strike period, but
this argument Is open to grave doubt. In
the first place the average consumer has
made some provision for immediate needs,
and at least one month of the winter has
been provided for. Again the mining of
anthracite will cheaper the cost of all SUBJ
st1tutes. and once the latter have been
tried and found equal to the emergency
thew will be continued on the ground of
economy.
The operators may may not raise the
price of coal, but the value of the coal
stocks at this level is more dependent upon
like. than upon any intrinsic value to be
added by the strike settlement. The money
market was again factor in the stock
market. loaning at II during the morning
and working down to later in the day
Inc money rate as factor In speculation
IS many times more significant than the
coal strike question. There are stocks for
SAFE on every rally. thousands of shares,
and pools are being INDUCED by their bank
ers because OF promises to reduce loans as
the market will take the collaterals The
pest commission houses in the street are. not
encouraging new buying because of their
unwillingness to negotiate new loans.
There was considerable rally during the
afternoon on the short interest and prices
reached the best level of the day On all
sides 1t was regarded rally only since
the banks are in no humor to encourage
an advancing market. Traders bought
more than commission houses and the sell
ing was almost uniformly better than the
buying
The demand for Atchlson Union Pacific
and the coal shares was largely from the
short interest. The rallies are ENCOURAGING
and suggest gradual liquidation instead
of sudden break. but money, not securi-
ties. Is the desire of the largest interests In
Wall street