The Washington times., 1902-03-22
General Features Similar
to Those That Have Re-
Gently Prevailed.
LABOR NEWS AFFECTS COALERS
Threatened Suit Fails to Hurt
Metropolitan Railway.
PROFIT TAKING PLENTIFUL
Tendencies to Advance Checked by
Liquidation of Pool 0perators-London
Sells MISUNDERSTANDING Condi-
ton Continues to Be One of Strength.

NEW YORK, March 21.-Todays market
was about the dullest of tho week and
It possessed about the same general
characteristics as have been noted re-
Gently. There was great irregularity in
the dealings and number of price i'm
provements throughout the list were Off
set by reactions in other directions.
Pool activity was again prominent in
the dealings, and wherever profit-taking
opportunity could be found advantage
was taken OF it. There was a disposition
also to even up contracts as the week
draws to a close, and this factor was re-
sponsible for frequent periods OF pro-
nounced dullness.
Notwithstanding tendency to reaction
in several groups OF stocks, the underly
ing tone was one of strength, and in view
of the fact that the market has advanced
continuously for eight days, holders of
securities had nothing to complain of.
Anthracite Outlook
The news OF the day did not furnish
very much inspiration TO spectators. ie-
ports OF the weather in the winter wheat
belt were encouraging to those interested
in the granger shares and a movement
toward Improvement in that quarter was
largely due TO Western dispatches re-
ceived during the morning.
There was a disposition TO interpret
the news coming from the United Mine
Workers convention as favorable. but
this attitude was not maintained. AS a
matter of fact it would appear, judging
from the attitude OF the leaders guiding
the workingmen, that there will be no
strike.
The supplies of anthracite coal held by
retailers and consumers are extremely
light and should contest be precipitated
a coal famine would probably result
AS regards money the market continued
firm, without noteworthy change.
Gains by the Banks.
favorable bank statement tomorrow
was EXPECTED, as the banks have gained
about 81 zoo geo in their operations with
the Subtreasury, while the interior move
ment of money appears to have favored
New York. In view of the attitude of the
market leaders and the tendency of trust
companies to withdraw deposits from the
banks for the purpose of relending them
in the open market, further contraction
in loans is not improbable.
London was not a significant factor in
this market. and the slightly lower range
of prices cabled from abroad was ignored
on the local exchange.
At the opening the coal stocks were de-
pressed fractionally by the advices from
Shamokin, but later the tone hardened,
and the early losses were recovered. The
traction shares, following the ratification
of their financial plans, were dull and in
clined to be lower on moderate profit
taking.
Metropolitan Not Affected.
The understanding that a suit will bs
Instituted to set aside the Metropolitan
lease had no influence in affecting the
price of the stock The stocks in this
group. however, at this time appear to
be highly concentrated and are not sus-
Ceptible TO minor influences. The grang-
srs, led by st. Paul and Union Pacific.
we're strong and exhibited an advancing
tendency on fair demand.
In the steel group Colorado Fuel and
Iron was the most active, and on the early
advance there was considerable liquida-
manipulated the stock. Tennessee Coal
and Iron was sympathetioallyh higher, while
the United States Steel issues were steady
and dull, those Interested in them being
disposed to await formal announcement
of the stock conversion plan.
Amalgamated Weak.
Amalgamated Copper was weak fea
ture of the industrial list. Among the
standard railways which shared in the
vile, while the particularly active rail-
way specialties were St Louis and San
Francisco. the Colorado southerns. Chi
cago Union Traction, and Minneapolis,
ST. Paul, and Sault Ste. Marie.
The tendency to advance by American
Sugar was checked by profit-taking sales.
and a si.1ilar state of affairs prevailed
among the high grade railway and indus
trial shares which have been recently ac-
tive.
London traded in about 5000 shares, and
nearly all were sales. At least half the
amount consisted Of Louisville and Nash
VILE. The Steel issues, Atchisons. and
Readings were also sold for this account |
and some of the transactions probably
had their origin in this market
Active at the Close
Following the publication of prelimi- |
nary figures indicating the cash move
Iaent Of the week and which show a small |
gain in favor Of New York, the market |
became mere active Substantial gains |
Good for had Teeth,