The Washington times., 1902-08-22
Colorado Fuel and Iron
SuStains an Eight
Point Break.
GENERAL TREND DOWNWARD
London a Reduced actor-AnthTacite
Coal Stocks Rally on Strike Outlook
and Then Decline Western Union
Active, Closing Point Higher.


stocks came measurably close to yes
terdays large record and for time the
upward movement of prices that has
been in progress practically all Of this
week was continued. In some cases the
advances were quite vigorous. but event
ually irregularity developed. followed by
almost general declines, averaging a
point or more throughout the list.
With the exception of further sharp
break of points in Colorado Fuel and
Iron, making an extreme decline OF
about IS points in the last two days.
there was little to account for the gem
eral reactionary movement of prices,
which in any event did not exceed what
might be termed fair limits considering
the previous rise.
Selling of Colorado Fuel
The selling of Colorado Fuel and Iron
was again, for the most Part, by the
adherents OF the principal members of
the party that is opposed to the present
credited with liberal sales of other
stocks in which il had been active on
the long side. Inevitably the severe fur
ther decline uncovered number of stop
loss orders, both in Colorado Fuel and
in other directions. 1t is to be doubted.
however. whether the more prominent
parties to the struggle have fully ex-
posed their hands,
While the money market displayed
continued case, owing to further large
offerings of funds by the local trust
companies and for account of institu-
tions in Philadelphia and other leading
oenters, and the banks made a further
gain in their dealings with the sub
treasury, the transfer of s2o0, 900
through that institution in equal
amounts TO Cincinnati and New Orleans
caused some apprehension that the
much discussed movement OF funds to
the interior for crop moving purposes
has begun.
London's operations in this market
were reduced to about one-half OF yes
terday's aggregate, and the transactions
en- balance. mainly sales, we're less
than 10000 shares. The foreign ex-
change market was a shade firmer
Activity in Anthracites.
The probabilities of break in ths
ranks Of striking anthracite miners
were again seriously discussed, and IA
vorabie impressions in this regard We're
reflected in greater activity in the
shares Of some of the anthracite coal
companies than for some time past. The
movements referred to were upon an
advancing tendency of prices, but mos
of the Improvement was lost later, Ia
sympathy with the reactionary ten
dency OF the general market
The solution of this great problem Of
universal interest will undoubtedly be
evolved on purely business lines. but
the outlook is much more encouraging
than would appear on the surface. The
majority OF anthracite consumers have
not as vet sustained any serious in
convenience and everything practicable
to prepare for 2 rapid resumption of
operations at the principal mines. as
coon as the men get ready TO return TO
work has been done.
Western Union was a conspicuous ex-
ception TO the general declining ten
dency and finished a point higher and
within shade of the best price for the
day on transactions of nearly $4,000
shares The strength and activity of
the stock was again accompanied by
suggestions of pool operations.
Steel Less Active.
In the industrial list United States |
Steel issues were less active and closed |
at slight fractional declines, while Gen
eral Electric. Sloss Sheffield and Dis
tilling of America preferred certif- |
Gates established substantial net gains, |
on nominal transactions.
The railway bond market was fairly |
active. with some irregularity of move |
ment, in sympathy with the stock list. (
The weak feature was Colorado Fuel |
and Iron convertible 5s, which declined !
over point. as compared with yester- |
days closing figure.
In the curb market dealings were on |
a lighter scale anG the movement of |
prices showed irregularity.
The stock market closed weak.