As soon as the meeting was called to order, the miners offered to return
to work if they were paid at the rate of sixty-nine cents for each ton
of coal mined, with the understanding that they would accept a reduction
if the arbitrators found that such payment was higher than the owners
could afford.

The owners refused this offer, and instead proposed that the miners
should go to work at fifty-four cents per ton, and that the arbitrators
should then decide upon a fair rate of payment. If it proved to be
higher than fifty-four cents, the owners would then make up the
difference to the men.

This offer being refused, the owners said they would pay sixty-one
cents, and make up the difference if the arbitration went against them.

The miners, however, refused to listen to these proposals, and the
conference broke up.

Both miners and owners declare that there is no present prospect of
reaching an understanding, and that there is nothing for it but to fight
the battle to its end.

The owners intend to try to open the mines with non-union men. The
miners are preparing to prevent these men from going into the mines.

* * * * *

There has been great excitement during the past few days over the sudden
rise of the wheat market.

Nearly all of the great countries of the world, with the exception of
the United States, have had poor wheat crops this year. Our crop has
been considerably larger than any we have had for several years past.
People cannot do without bread, and in consequence of this failure of
their crops, other countries have had to come to us and buy. They have
of course had to pay whatever price we asked, and as a natural
consequence the price of wheat has gone up enormously.

All the people who were clever enough to foresee this demand from
abroad, and buy up the wheat before the orders came in, have made
fortunes during the past few days. They refused to sell their grain
until its price had gone up to nearly double what they had paid for it,
and are now smiling and happy, and thinking that prosperity has come at
last.

Though a little flurry in the price of wheat cannot of itself make
prosperity, the demands on our carrying trade for the shipment of the
grain to foreign countries has brought a great deal of business to our
shores. It is stated that the piers around New York present a more busy
scene than has been witnessed since the dull times began.

Grain elevators