The daily morning journal and courier., 1902-04-18

l terms m Wnlch the information has
 been given to the public regarding the
 settlement of the Louisville dispute and
 the emphatic disclaimers by Southern
 Railway officials of any interest on the
 part of that road in the settlement had
 left room for all sorts of rumors of pos
 sible further complications, which it
 was thought desirable apparently to
 check. Louisville and Nashville stock
 also rallied strongly to 35s over last night after the statement appeared. It
 was regarded as a striking demonstra- tion of the secure hold of speculative situation which has been obtained by the group of western millionaires now the leaders of the market that they should have been able to keep up the show of strength in the market in face of reactionary tendency in Southern Railway and number of other unfa- vorable factors.
 As a matter of fact, extreme anima- tion and a broadening show of strength were the features of the market, bear ing every resemblance to previous great bull markets. The irregularity due to active profit taking going on side by side with new buying was also in evi- dence, marking the diversion of specu- lative profits from one group of stocks to another. The coalers were the most | conspicuous strong stocks to-day, led by Reading, which was dealt in on an | enormous scale, even after allowing for l the reckoning in half shares or the par value of $50.
 Reports were circulated that secret | agreement had been reached averting the possibility of a. coal miners strike. Heavy buying orders for the Readings and Erie came from London, and the l impression was conveyed that these were due to Mr. Morgans presence there. The coalers all suffered from profit-taklng towards the last and the leadership of the market was shifted to Atchison, which rose suddenly to S4 fol- lowed by Colorado Fuel and Louisville. The explanation of the buying of Atch- ison was not forthcoming, but the stock has not shared in the recent advances among the grangers and southwesterns, which were all somewhat affected by realizing to-day.
 Interwined with these dominant movements were many cross-currents among minor stocks, some declining,
 
 to operations by speculative pools. The rather decided action of the grain mar ket, refiecting misgivings over the weather conditions for the crops. was quite ignored in the trading. The re- duction of the Amalgamated Copper dividend, which has been looked for ward to with apprehension for long time, was totally ignored and that stock itself was run up after the announce ment of the dividend to nearly a point above last night after having fallen 1% The stock closed with fractional net loss United States Steel stocks were mant period.
 Evidences Of recuperation in the local money market were a conserving infiu- ence on the speculation. The sub-treas- ury has contributed something to the local money market by reason of large pension payments, and considerable of gold from San Francisco are coming in. The movement of cur rency from the interior Is in favor of New York and steadiness of the sterling market shows that provision for Amer ican subscriptions to the British consol Issue do not threaten immediate further gold exports. The market closed active and irregular. Ii Bonds were quite active The total sales par value aggregated s. .380. 900. United States old fours coupon ad- i Vanced h per cent. and the threes cou- pom declined k per cent. on the last call.