The daily morning journal and courier., 1906-03-13
STOCK MARKET FEATURES
GOLD COMING BUT NEWS IN-
 DIFFERENTLY MET.

Equally Indifferent as to Prospects of
 COaI Strike-Market a Narrow One
 Immense Stock of Anthracite Coal on
 Hand Reason for the Indifference
 Gossip of the Day.
 The stock market yesterday made no particular response either to the new feature in the coal-strike question or the news of coming gold imports.
 The market acted little peculiar in view of these two developments.
 It was narrow market and prices were inclined to ease off. At the close, however, prices rallied.
 The National City bank yesterday en- gagged in London $1 ,25O ,OOO gold for ship ment to New York. This is the first gold importation from Europe since last September. It is South African gold, which has lately been reaching the Lon don market in large quantities. Wall street heard that negotiations were go- ing on for further gold shipments to New York. The fact that gold can now be brought from Europe to this country was taken in the financial district as excellent evidence that the foreign financial interests believe that the Nor ocean dispute is about to be settled peacefully.
 While prices sagged at the opening, it was on a small volume of business. There was no tumbling out of stocks on what now appears to be a very threatening position of affairs between the operators and the men,
 The sterling exchange market was apparently not affected by the an- nouncement of the $1,500,000 gold en- gagement.
 Chicago Union Traction issues ad- vanced sharply on the news of the su- preme courts favorable decision.
 In the last hour stocks broke rather sharply, with Reading leading and oth- CT coalers depressed. This was based on fresh advices from the west indicat- ing that there is grave danger of a strike in the bituminous districts. Reading rallied in the last ten min utes.
 With Saturdays addition to bank re- serves, and with the imports of gold, there was an easier monetary situation. Rates for both call and time loans de- clined, and an interesting efature was the increased offerings of money for fixed dates.
 The selling of Reading was compara- lively large, one firm putting out 25,O0O shares. How much of this was short and how much long stock it was diffi- cult to determine.
 The chief theory as to the failure of speculators to "scare" over the fiat re- fusal of the anthracite operators to ac- cede to the demands of the United Mine Workers undoubtedly rested in the un- derstanding that the coal companies are now bulwarked in their position by im- mense stocks of coal.
 The stocks which had been tipped" last week were suffering from efforts of traders to get out without a loss. These included Atchison, Rock Island and Su- gar. It is doubtful if traders made anything out of any of these stocks.
 The bulls were predicting that as soon as the "big fellows" start the machin- cry working bull market will be in full evidence, coal strike or no coal strike.
 Some large commission houses are ad- Vising customers not to load up pending strike developments.
 Reading behaved in way to warn the shorts as we'll as to disturb those operating on the long side of this and other issues. The shorts were afraid that after fall of 39 points it might be run up sharply The bears argued that it was not long since Reading was below par.
 In very good quarters the opinion is still held that a compromise between the operators and miners will be effect ed. either through the presidents eff forts or in some other way.
 During most of the day it was merely A traders market representing efforts on the part of large and small opera tors to make turns" and get out.
 Talk was about that the Gates people had let go few" on the sharp run-up in prices last week. They were quoted as now expecting some reaction.
 Boston. March 12.-The directors of the American Telephone and Telegraph company have declared regular quar- terly dividend of $1.5O per share, pay able April 16, to stock of record March 16 Transfer books will be closed from March r to March S1, both days inclu- sive.