The Washington times., 1902-10-02
Prominent Banking Interests
Determined to Repress
All Efforts to Boom Stocks
Until Strike Settlement.
Total Transactions for Day
Not Far From Million
Share Mark-Rise Chiefly
Confined to Reading.


situation and the anthracite coal strike
conditions and probabilities were again
today the main influences in the stock
market An carly decline in the rate
for call money to 6 per cent was i'm
proved 10 advance the price of num-
ber of stocks sharply after early ar-
preciable declines, and late in the day
disappointment over rise to 10 per
cent induced profit taking on a liberal
scale.
Doubtless a desire to take advantage
of the expansion of the credit of the
New York banks resulting from Secre-
tary Shaw's up-to-date financial relief
plans to cause another lively whirl of
security prices upward exists. but such
I course is. of course, likely to be pre-
vented by the larger financial interests.
Prices Gratifying.
With the exception of the monetary
conditions and the continuance of the
embargo upon anthracite mining by the
United Mine Workers organization, con-
ditions bearing on the security prices
are very gratifying
The principal banking interests are
determined. however, to repress efforts
to boom stocks, at least until the money
market reaches normal condition and
until anthracite mining has been gen
orally resumed to the full capacity of
the mines.
The strike question came into greater
prominence today owing TO the an
nouncement that President Roosevelt
had caused invitations to be sent to
the presidents of the larger producing
and carrying anthracite coal companies
and to John Mitchell to a conference
with him, to be held at Washington on
Friday of this week.
1t is clear that a settlement of the
strike might be made that while salts
factory to the strikers and to the coal
consuming community at large. nigh
greatly disappoint the producing inter
ests and seriously affect the incomes of
the holders of the 100000, 900, more or
less. of anthracite coal road securities.
For this reason the logic of violent
advance in the anthracite coal stocks
upon the suggestion of possible Federal
Intervention TO bring about settle
ment'' is rot clear.
Rise in Coal Shares.
The rise in the anthracite coal shares
today was chiefly confined to Reading
common, in which the transactions,
reckoned as half stock, footed up near
ly 100000 shares. 1t leads the entire
market
The extreme advance from an early
low point is nearly points. but it
left off little less than a point higher
than yesterday. The buying was what
is Technically described as good" one
influential interest being credited with
purchasing today and yesterday about
100000 shares.
In the afternoon fairly large buy
ing was credited to one of the largest
interests in the anthracite coalers gen.
orally. Reports were current that by
the END OF this week fally 60 per cent
of the anthracite miners would be back
to work. On the other hand, in some
quarters, the strength of the stock was
considered TO foreshadow specific i'm
portant developments other than the
strike outlook.
The ruling rate OF cali money today
was per cent, and the last loan was
made at s per cent. The comparative |
ease in money measured by recent fig |
ures and sales of stocks here on bal~
ance. foreign accounts aggregating be- |
tween 10000 and $4,000 shares, was re-
fected in increasing irmness in the for |
eign exchange market.
The total transactions were not far
from the million share mark, and the
ma iority of the list showed net gains at
the close. Erie common came next 20
Reading in point Of activity, but clos
ed unchanged. Atchison common, South
ern Pacific, and Union Pacific also fin
ished at about yesterdays final figures.
Baltimore and Ohio was prominent in
extent of interest and retained nearly
4 point OF an extreme advance of over
per cent. The rights were also a
liuciioH hSHSI- lie tACsplfOnafiy weak
features were Louisville and Nashville.
which finished more than per cent
over than yesterday. and ST Paul,
which dropped couple of points. Man
haitian Railway, Canadian Pacific and
were shaded slightly.
Stocks that have not been mentioned
hat were strong and active Included
Railway. Reading second pre-
erred. Norfolk and Western and De-
roit Southern Railway preferred. On
limited dealings net gains extending to
per cent and averaging a point oc-
urred in a number OF issues
Steel Active. 8
In the industrials United States Steel I,
hares led in activity and closed at frac.
ional advances. Colorado Fuel and [
ron and Columbus and Hooking Coal A
nd Iron were fairly active and enjoyed
ct improvements of and ~ per cent.
q
The railway bond market was firm at
EXCEPTIONAL advances in Green Bay and
Western B debentures and Peoria and
'astern Incomes. In the curb market
rading, except In few of the principal
'sues. was light. The tone was gen. ]