The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-24
FINANCIAL AND COMMERCIAL.
FRIDAY, March 2s, 1908.

FRIDAY mArOn -, AbVo'
Dealings In STOOLS wero somewhat larger
to-day than yesterday, although the 40
tivity In the market waS mostly confined
to the first two hours OF tbs session. After
that time dulness reigned until the close
Of the day, although prices retained their
firm undertone and an advancing rather
than a declining tendency In the market
was plainly visible, AS has been the case
during the last two or three days, the move
ments OF Reading stock and the varying
indications rega riding the outcome Of the
labor dispute in the anthracite n btu
minous districts were almost the sole factors
influencing values. Nothing In the way OF
definite news came during business hours
from the conference at Indianapolis between
the soft coal operators and tbs representa-
tives Of the minep' unions, but the suc-
oessive~ lowering by the agents Of the miners
ofthe advance in wages as previously asked
and the mitigation otherwise Of the de-
mands put forward by them indicated
pretty positively which party at the con-
ference was weakening. The situation in
the bituminous coal section seems much
mixed from a Wall Street point OF view.
1t Is evident that throughout one part OF
the territory the employers arc willing, in
order to avoid trouble, to grant their men
some additional compensation; and the
probabilities appear to be that II there is @
strike in this region It is not likely to be
general and will not be OF long duration. The
opinion has prevailed here and still holds
that while there may be q strike In the
bituminous district it lie improbable that
the anthracite miners will go out. There
is information proceeding from a variety of
sources that the sentiment OF the anthracite
miners Is by no means unanimous on the
strike question, many influential leaders
among them being ut heart content with
present conditions, while all OF them APP
preciate the strong position that the coal
operators occupy by reason Of their pos
session of such lar &c supplies OF coal. While,
therefore, all dispatches to-day from In
dianapolis told Of q deadlock at the meeting
there they did not affect he stock market
u~nfavorably. Not only were the Reading
common shares persist ntly strong but
all the leading stocks were actively bought,
and that class Of professional spectators
whose cardinal maxim it is to a small
profits and limit their losses were occupied
most of the day in buying back at a loss the
8 stocks previously sold for the decline.
A sharp rise in Southern Pacific stool at
tracted no little attention, and the Chicago
Northwestern common shares made an
extreme rise at one TIM of6X points. The
ordinarily inactive common and preferred
shares of the Wisconsin Railway Company
rose sharply, andthere was more or less con-
tinuous buying Of the Colorado u and
Iron and Colorado Southern Railway stocks.
Close observers Of the market were in
clined to trace q connection between the
movements in the two last named issues.
Toward the close of the day the market
sold of somewhat or profit taking, final
prices being, therefore, under the best,
There were no transactions in the market
to-day to speak Of for London account, and
the leading incident in the foreign markets
was the circulation Of a rumor of the death of
the aged Emperor Of Austria. The falsity of
this was promptly disclosed, but 1t unsettled
prices on the European bourses throughout
the day. Cali money here to-day again
sank to a quotably lower range, and the
weakness in sterling exchange which has
been in progress for several days recently
was continued. Certainly no shadow has
been cast upon the stock market by the
eXpeCleu hufd"lnB VI ihonSy ny ilnanciai
in preparation for the disburse-
ments on April /. No influence was exerted
by forecasts of to-morrow's bank statement,
as these estimates pointed to the likelihood
of only a small change either one way or the
other in bank reserves. The course Of the
stock market during the week, moreover.
indicates that there have been no material
alterations in the bank loan account. Higher
prices wei made to-day in both the grain
and cotton markets, the movement Of values
here, especially upon the Cotton Exchange,
rejecting the overextension during the
nc nt tupn nnnths of a short intaraat.