Evening star., 1922-07-27
HOPES FOR ENDING
OF BOTH STRIKES
Stock Market Develops
Strength Under News of
Conferences of Leaders.
BY STUART p. WEST.

NEW YORK. July 27.-The markets
found considerable encouragement to-
day in the strike news. vested in
President arding's conferences with
railroad and labor leaders and
the indication that coal miners and
operators of several districts in
Pennsylvania, Ohio and Indiana
would get together soon to talk
things over. AS stocks have proved
| themselves to be particularly sensi-
tive to fluctuating waves of senti-
ment about strike conditions, profess
sional traders bid the rails upward
with a great deal of force and many
industrial issues acquired a strong
tone. The market progressed by fits
and starts, showing apparently that
while spectators were more confident
over the outlook, still they were un-
willing to lean too heavily on the
| long side.
Rails Score Gains.
The more prominent rails advanced
| more than point all around, in the
| first three hours. led by two-point
gain in Union Pacific and the estab-
lfshment of a new high record by
Pennsylvania close to As
The visit of T. Dewitt Cuyler. repre-
sentfng the roads, and B. NJ Jewell
of the Shopmens Union. 10 the White
House, gave the stock market a dis
| tinct thrill. as President :Iarding's
meeting with contesting parties ap
peared to forecast new measures of
conciliation.
Coal Men to Meet.
The projected meeting of hard and
soft coal mine owners and men was
considered to be as deeply significant
as the Washington meeting. but the
fuel outlook was made less disturbing
than the day before by some facts
auoGt existing supplies.
The reported formulation of 500
600 tons of bituminous coal ~ nom
union mines in the south shoss :
pretty clearly that a lack of proper
railroad facilities was the sole cause
in keeping a lot of coal from con-
sumers. With rail priority orders
now going into effect. the prospect of
acute shortage in essential lines was
lessened
Strike and Earnings.
Railroad earnings for June threw a
few sidelights on results of the coal
strike. The Lehigh Valley. much "f
, the revenue coming from the move
| ment of anthracite. had a fall of 81
s97 900 in gross income. or nearly 30
per cent as compared with June. 1921.
The anthracite strike has been e.
fective in reducing the output almost
" tHt pOIHl since -ITll D..
In contrast with this showing. the
B. and O.. carrying much sot- coal
| from non-union mines. had a good in
crease in gross revenue and net re
turn nearly seven times 8 large as
| in June, 1921.
Mexican seabonrd.
Those in a position TO throw some
| light or the Mexican Seaboard sltua-
| tion were silent again today while
| both the stock and certificates Were
breaking badly. Until the certificates
| touched Is there was not the slightest
| sign of support and the subsequent
| rally TO 20 was set down as short
| The drop which started Wednesday
| morning caught a lot OF stop orders.
| and as is usual in such cases brought
about a lot of forced selling of the
! other oils which were dumped over
| board today from accounts trying
| to weather the storm in Mexican Sea-
board.
Rails Rally.
A rally in the rails. which started
with Pennsylvania getting above as
the other members Of the group on
| spurt to higher prices Practically
all the Junior rails joined in this
rally and for time gave good
account of themselves while the in
dustrial list was doing little.
| The incentive behind the move in
Pennsylvania is one which should
be remembered at all times. There
\ is every possible chance that the 6
| per cent dividend will be restored in
the near future.