The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-20
STRIKE THREATENED
ON. PENNSYLV AN|A
Money Continues Easy. Giving
Bulls Great Confidence in
Their Position

NEW YORK, Jan 19.-Transact,ons ~
the STOCK exchange were not as large TO-
uay DIS Yesterday, but sales reached about
Inc l,ooo,oUO share mark and the less
oonsested dealings in Reading sufficiently
TSeoullted Tor the contraction in the total.
Inc movement of prices was hesitatinp
ana irregular, the level fluctllat ting cor9
stantiy In both directions throughout the
uay. me violent advance in Reading. in
stead of proving an Indictment to the
buying or stock elsewhere developed into
a a., positively deterrent factor The rocket
IKE IKE rise IN that stock to above 80 in the
Hrst hour proved wet blanket to snecu
latlve enthusiasm and the upward course
which prices had taken at the onenine
was reversed When Reading was LET
back and quieted somewhat prices wore
pushed upwards at some other noints anS
eHorts made to revive the animation of
the market -
Coal Trade Prosperity
1t was diligently sought to convey tbe
impression that the excited rise in Read
ing was due to it's heavy earnings and
the highly prosperous condition of the
anthracite trade rather than to any large
outstanding short interest or to any dan
ger Oh corner in the stock, as began
10 be feared yesterday. Rumor continued
very pusy with assertions of a short in
lerest In the stock which was in distress
ana i5H tnere was much conjecture as to it's
IDENTITY At the same time the way in
WmSh the prosperity of the anthracite
trade and the great earnings by the coal
ers We're enlarged upon made diversion
of the speculation into the other cOaIers
the easiest course for the market leaders.
Inc movement turned first into Ontario
western and then into the Fries. On
tarlo d western had the additional adj
vantage of rumors that the minority hold
ers would be dealt with favoraby by the
newly dominant New Haven control.
Amalgamated Copper enjoyed an early
ADVANCE on the strength of the increase
IN the dividend disbursement by a sub
sidlary company and the expectation of
corresponding action by its own directors
during the day. But the speculation in
the stock proved unusually quiet for
day set apart for dividend action and it
was under pressure of reactions with the
ings aroused by the fears of trouble
amongst a short interest in Reading the
threatened strike of the trainmen of the
Pennsylvania service caused an undertone
of anxiety through the whole market The
industrial situation has been singularly
free of labor disturbances for some time
past and the intrusion. of this factor
aroused feeling of anxiety as to its pos
s1ble spread. The reports during the day
OF the progress of the conference on the
subject We're followed with keen interest.
Railroad Earnings
The earnings for the second week in
show the same rate of increase over those
OF last year. which has been the rule in
recent past. thus confirming the views of
traffic officials that midwinter lull had
occurred in trade activity. Talk of dis
putes over Western and Southwestern
grain rates also received attention.
Brooklyn Transit weakened on the report
submitted to the state railroad commits
sion concerning the large outlay which
would be required to secure the effective
operation of the system. This movement
and pressure against Reading and ANAL
gamated Copper helped to make the clos
ing easy.
There was a broad and active demand
for bonds of practically all grades, and
the course of prices was generally up
wards, Total sales, par value, S., zoos, 900.
United States bonds were all unchanged
on the last call.