The daily morning journal and courier., 1902-05-08

normal balance of things. But this natural tendency was reinforced by the | decidedly sceptical sentiment over the ! prophecies of the anthracite labor set ! tlement. These prophecies continued very confident from sources with every | means of authoritative information
 But the flat contradiction of the Wall 1 street rumors received from Scranton where the miners delegates were in convention, caused confusion and un- certainty and a suspicion that the Wal street out-givings were in the nature of "tips" designed to influence the stock market. As a matter of fact, Reading, which was accepted as the index of the anthracite situation, was lifted shade above last night. The reports of the condition of the crops and the weakness
 of the grain market were a help to the grain carrying railroads and they made
 a good advance in the course of the
 days session. The continued aggfes-
 sive strength of Louisville and Nash
 vile and Chicago, Indianapolis and
 Louisville and various smaller subsid-
 iary lines, gained additional influence
 from the response in Southern Railway
 which was considered significant of
 closer relations in the whole southern
 group. Nashville Chattanooga and St
 Louis, Chicago and Eastern Illinois and
 Evansville and Terre Haute all shared
 in the movement. Illinois Central was
 a conspicuous exception and was
 heavy throughout, falling at one time
 11a The advance in Kansas City
 Southern was attributed to the forma
 tion of pool in the stock. But all of
 the strong points yielded to the liqui-
 dation during the last hour, caused by
 the relapse in Reading, Practically all
 of the gains were wiped out, and the
 level of prices was carried below last
 night. Realizing sales were much in evidence in Chicago Great Western,
 which lost PA of yesterdays A point gain, Tennesse Coal lost over points on account of the annual report which was considered discouraging United States Steel stocks did not escape the depression, notwithstanding the extra ordinary exhibition of the past years transactions by the company. The money market was called easier to-day the maximum rate reaching 15 with subsequent recession to per cent. But the decline in the foreign exchange rate ceased in response to easier money and discussion was renewed of good ex- ports. Current receipts of Louisville and Nashville stock from foreign hold CTS are very large and represent re- quirements for foreign payments. There are reports of large loans during the week made in the stock market for &C., count of outside institutions, but it is worthy of notice that $500,000 in curren- cy has gone to New Orleans this week and New York exchange at Chicago to- day ruled at 20 cents discount There is still some tendency to a vague feel ing that there may be some imitation still beyond the curb stone bubbles, which collapsed last week. A symptom of this feeling is found in a revival of of some restrictions on the loaning powers of the trust companies and additional requirements upon them for maintenance of cash reserves. The market closed heavy.
 The bond market weakened with stocks. Total sales par value, $4, ,S55, ,000
 United States bonds were all un- changed on the last call.