The Washington herald., 1912-03-01
WALL STREET NEWS
Market Firm with Exception of
Brief Period Early in Day-No
Fear of Coal Shortage.
BY THOMAS c. sHoTwELL.


New York, FEB. 2s-with the exception
of a brief period Of heaviness early to-
day. the stock market was firm through
out the session. Earnings reported Tor
January by the roads were better than
had been expected. Constant assurances
came from London to the leading bankers
that the coal strike would be stopped
quickly, IL, indeed. Il was permitted to
begin.
In this connection there was much
misinformation afioat. The news agencies
kept reporting from hour TO hour great
numbers Of miners out on strike. As a
matter Of fact. with the exception OF
those who have been out for several days.
no men went out to-day. The hour set
for the strike was midnight OF February
p The men reported out were simply
those who were finishing their work for
the day, and who are on at the same
time every day. They could not be
considered strikers until the hour ar
rived for resuming work, they then re-
fusing to work.
As reported in this column for the last
two weeks, plans were made for prevent
ing q strike at the last moment, and most
financiers quit business in Wall street
to-day with the firm conviction that to-
morrow would find the men at work
Should the arrangement fail. a speedy
settlement must be expected anyhow, for
the affair is too gigantic and too much
; like a revolution to be permitted to
continue.
Copper metal options were influenced
by the British labor situation TO such
an extent that there was a decline re-
ported of half a cent a pound. but no
sales were r-ported at the low figure.
The copper market is so strong that even
with a strike prices can be held close
to present quotations.
The advance in corn attracted most
attention. The May option went to 20
cents In Chicago. as compared with
the price Of At 3-S a year ago for the
same option.
Railroad earnings for January that
were reported showed the effect OF the
great blizzard in the Northwest. The
Southern Pacific gross increased S16.O65,
but Union Pacific, large part of which
lies in the storm belt. showed a gross
decrease of $52S17S The roads showed
net decreases of SO, ,6S9 and s7s1, ,543 re-
spectively. Canadian Pacific. which had
a gross increase of S1.5SS,576 for the
month, came through with net increase
Of only A26.740. Eastern roads showed
up well because of the heavy coal traffic
made necessary by the cold weather and
the fear of labor troubles.
Se6rs-Roebuck attracted attention with
q rise to a new high figure. The business
of the company is said TO be growing
rapidly. No wonder, with the vast
amount Of free advertising it receives
through having its stock quoted on the
leading stock exchanges. The general
public has not yet walked up to the fact
that the Incorporation and listing OF
many concerns that are really private
business firms is the work of clever ad-
vertising experts. Thousands Of persons
hear every day of the Sears-Roebuck
Company, the Underwood Typewriter
the Woolworth 5 and 10 cent stores, and
others as a matter Of news who would
not otherwise hear of them except after
the expenditure of millions of dollars
advertising The advertising is worth
all the water injected at the time of
Incorporation.
The governments reply in the suit
against the United States Steel Corpor-
alton was calmly received. It was a
favorable influence because it goes
squarely toward the point at issue and
indicates an intention to press the suit
20 finish as quickly as possible.