The times. [volume] (Richmond, Va.) 1890-1903, 1902-10-14
VIOLENT BREAK
N STOCK MARKET I
4 Wss Followed BY . Practically
Complete Recovery.
CLOSING PRICES SHOW GAINS rs
opefui Feeling that Many Conferences
viii Hasten Settlement Of the Coal
strike-small Gold Shipments
DO Not Offset Statement.
(Dy Associated rress.

NEW YORK, Oct. l3.-The violent and
almost uncpncerted break in prices this
morning and practically compile recoV-
cry thereafter is the hxtory OF to-days
market The closing prices showed a
opnnlling OF net gains amonst some OF
the most important stocks on the list.
reaching q point IN Rea ding and Ontario
there were ragged declines. indicated OF
all the way from lQl2 points from satur-
days level. many OF the leading specuia-
two hours OF trading. The sentiment in
the Street seemed mived before the open
Apg under the influences OF reports 1n riaaas
Aktlement of the coal strike NAG nee ~
be Saturday bank statement that , mere
eust be further contraction OF loans
placed in the stock market. ~,
Tho latter influence sepWt a"aS ,oa al
other considerations, and with the eHceP-5
ton Of a momentary rally after the ope N,
Ing, due to the taking of bear profits Sd, ny
Saturdays si1or tselcirs, the market pur-.
continuous stream OF liquidation. It was
evident that further selling out on the
part OF some OF tho large speculative
pools was going on, presumably un 1dts
ders for repayment OF loans: The Gould
6outhwesterns ana some of the stocks
In which the so-called Western conGn-
affected. The recent tendency Q thigh
priced Investment stocks. which had been
pushed to nm extraordinary level, to
break violently on small sales. continued
In evidence In The case Of the American
Express, United States Express. Lacka-
wanna, Delaware and Hudson: General
Electric and similar stocks. When the
liquidation first showed signs Of decreas-
Ing the bears caused sharp rally by
covering OF shorts, otter hich the market
was elugE1sh ana neglected for an hour.
The speculative movement sentiment then
Welded to the influence of the hopeful
feeling that the lndust11ous consultations
ing powers Of the great anthracite compa-
nies would lead 70 substantial results in
the settlement OF the coal strike. Any
authoritative admission OF q change in
tho condition Of the dead look as impos-
e6bie to observe. and the unvaryinE asser-
tdon on the part of the operators dealt
only with the possibility Of improving
the output Of the mines under p rone ION
o. the military by seceders from Inc
strikers. But the action Of the market
reflected the faith that Developments were
Forthcoming looking to q settlement
Reports received oyer Sunday OF the re-
Os!pt OF several small parcels OF gpld from
6urope and Of an expected arrival With
IN two weeks at San Francisco OF sleOo.-
erlcss 10 offset the depressing influence
OF the bank statement. Money went TO
IS per cent. soon after the opening. Ster-
ling exchange broke sharply, out dls-
counts in London responded with an al
vance. The market closed with the rally
in full force and prices at the top Level.
Bonds weakened and recovered In sym
M.sz5,0oo United States new and old As, 1;
declined ~ per cent. each on the last call.
The total sales of stocks for the day
were 1,O22, 200 shares.