Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-16
Strong Opening in Stocks
This Morning.
DUE TO STRIKES END
MONETARY SITUATION ALSO
LOOKED MORE PROMISING.
Belief, However, That the Danger
From This Source Has Not
Wholly Passed.
Special DIsDatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. October 16.-The coal strike
settlement resulted In a higher opening
level this morning and the general tension
of the last few weeks was noticeabiy re-
lieved. London and Berlin bought mod
crate amounts of the favorite international
issues, and the western element were cred
tied with new buying on a considerable
scale.
Rumors from Washington indicated that
the treasury would buy from S10.OOO.O0o to
SIS 0OO, 900 bonds and that such an announce
ment would be officially made within a day
o. two. Call money ruled at s. and later on
at 6 per cent. bankers being more hopeful
Of the outlook in this particular. Time
money for short periods was in better sup
ply at 8 per cent and commission houses
showed some willingness to buy In conse-
0uence.
The subtreasury has made no shipments
to interior points during the four days of
this week and the banks have made some
gains in cash Foreign exchange worked
easier under an increased Offering of COM
mercial bills and altogether the money
question was more hopefully discussed. 1t
Is to be remembered that the favorable de-
Velopments are Of character to remedy
an adverse condition and are not of suff-
cient scope to warrant a resumption of big
speculative enterprises.
The situation has improved, but to pre-
vent the recurrence Of unfavorable symp-
toms conservatism must prevail. The Wall
street patient may have several good days
and an occasional bad one before complete
recovery is had. This occasional bad day
Is now regarded as a probable opportunity
for discreet purchases. This latter view is
about as strong as the larger interests are
willing to indorse at this time.
The buying of St. Paul was called good
ma oS,trc hoc cod he,
ported alliance with Union Pacific. The lat
ter shares advanced in sympathy, and
considerable short interest was forced In on
the rise.
The Southern Pacific pool marked I'D the
price of those shares and had the benefit of
considerable short interest. Missouri Pa
cifc met considerable volume of stock
during the forenoon, but the price was
given excellent support around 10.
Later in the day the pressure was less
pronounced. but this property is rather ia
vored by the short interest, and attempts to
retard the advance may be expected for a
time. The Gould stocks were kept steady,
the best buying in the group going into
Manhattan.
The Gates party bought Norfolk and
Western on increased dividends talk the
stock responding easily Colorado and
Southern was strong and reflected concerted
action by the pool.
The prospect for some deal in which Col
orado Fuel and Iron might be included
suggested as a basis for the activity in the
Colorado district. Purchases of coal lands
in the west by Gould interests and the
friendly relations among the Could Haw-
ley-Gates party indicates possible develop
ments of considerable speculative impor-
tance.
steady demand for Illinois Central ard
Chicago Great Western was noted. the
street reviving old runors of deals in con-
sequence. The industrial list was strong.
talk of rights on General Electric and tie
declaration of the usual y per cent divi-
dend on Amalgamated Copper being the
only news developments.