Richmond daily palladium. [volume] (Richmond, Ind.) 1905-1906, 1906-03-19
COAL STRIKE
NOT LIKELY
HENRY oLEws PREDICTS THAT
MINERS WOULD GAIN
NOTHING.
TIL SUPPLY IS TOO GREAT
cp- rators Have Upper Hand of the
Situation Other Financial
and Commercial Comment.

New York, March -lSpeclal)-
The improvement which began in
the stock market week ago has
been fairly well sustained, excepting
in Consolidated Gas, Missouri Pacific
and Chicago Union, fractions ,fer. the
collapse Of which there was ample
justification. Renewed frmness I'M
the money market, however, exercis-
cd az somewhat adverse influence.
While the prospects Of acute strin-
gency have apparently disappeared,
conditions favor firm rates for the
rext two or three weeks. Dividend
disbursements incidental to the mid
die of the month, caused temporary
stringency, but as these sums were
again released, that element Of dis
turbance quickly passed away. With
in a few days there win be a demand
owing to April settlements. after
which, however, the money market
should gradually assume normal con-
ditions.. :. Bank. reserves have been
strengthened by, recent contraction in
loans, resulting from stock market
liquidation. This in itself is q ia
v6rablei Feature. q A Very consider
able volume Of loans has been trans
ferred to the other side, and this is
a relief to New York banks" AT zone
time conditions favored gold imports
apd, about 81, pc, 900 was positively.
engaged in the London market for,
this side. The issue, however, of IA
Russian loan for $62, 0O0, 900 quick
W checked the tendency to, ship gold
from New York, firmer money rates
following Immediately at Berlin, Par
is and London. The reports Of dead
lock over the Morocco situation also
EXERCISED somewhat chilling effect
in the foreign markets; the determin-
ed attitude Of Frahce making the
outlook again stormy. ft H n
General business continues active;
this fact being demonstrated by
very encouraging railroad earnings
and continued heavy bank clearings.
Much depends upon the crop outlook.
Thus far no serious injury seems to
have been done to winter wheat, and
the season is now so we'll advnced
that that cereal should now be be-
yond danger of harm by frost. Ger
tainly the business and the crop
outlook are favorable, and to this ex-
tent the recovery in the stock mar
ket was perfectly justified. A good
deal of hesitancy, however, is created
by the threat of strike in the coal
trade. i doubt whether one will
take place, however, owing to the fact
that it would be sure to result in
failure on the part of the strikers.
There is too much coal piled up in
operators hands and the weather is
too mild to make any urgent demand
for coal from now until next fall, so
that operators were never in bet
ter position for strike and the min
ers never in worse one.
The recent break in the price of
wheat and the low price of cotton
will stimulate expots and continue to
lower the price of exchange. For
the prese1t the market is likely to
continue uMksttled. Conditions are
conflicting nd ~ two-sided. Recent
liquidation improt the technical
situation somewhat, butknarket lead
ersgare no yet disposed to buy with
any freedom, either sharp break or
improved general conditions being
necessary to revive. their. active in
terest.