The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-08-14
NO IMPROVEMENT
IN STOCK MARKET
Tone Was Firmer and No Dis
position to Llquldate.
MANY STOCKS NEGLECTED
There Was a FItful Speculation In the
Soft Coal Stocks, Based Upon
Benefit From Paralysis of
Anthracite Trade.
MANY STOCKS NEGLECTED

New York, August 13.-There was no
Improvement in the activity in the trad
Ing on the stock market today, but the
tone was firmer and did not reflect the
disposition to liduidate on all advances
which was feature of yesterdays mar
ket. For the most part however, the
representative stocks were neglected and
sluggish. The Gould stocks were the
most conspicuous in the trading, Mis-
souri, Pacific leading in point of activity.
There were heavy dealings also In all
of the Wabash securities and in Texas
and Pacific. The southwestern railroads
are expected to gain a special. benefit
from the large corn crop and the winter
wheat crop in that territory is also in
high average condition. The Wabash
stocks were especially affected by re-
ports of aggressive steps being taken to
secure terminal facilities both in Pitts
burg and in Baltimore for the use of
Wabash's eastern extensions. There was
fitful speculation in the soft coal
stocks based upon the benefit felt by that
trade as an incident of the paralysis of
the anthracite trade.
There were persistent rumors as we'll
as of an intention on the part of Nor
folk and Western directors to advance
the dividend rate on that stock. Tho
settlement of the elevated railroad trou-
Bile helped Manhattan and the Goulds
as a group. There was a notable show
Of strength in number of minor rail-
road stocks, especially in the granger
region. The brokers employed by the
speculative interest which accomplished
the Louisville and Nashville transfer
were conspicuous in these operations.
The National Lead stocks responded to
the reports of a combination in the lead
interests of the country. United States
Steel shot up q on the news of an addi
tional distribution of $4,000, 900 profits to
the underwriting syndicate, this bring
Ing the total distribution up to 600
on actual paid in subscriptions of $685.
100000 The stock relapsed quickly into
comparative inactivity, but with a frac-
tional gain retained.
The aggressive steps being taken on be-
half of the Northern Securities company
to clear up litigation against that cor
poration and the hopeful views expressed
of Its earnings by James J. Hill give the
impression that active steps are pending
towards a distribution of the stock. This
and many other plans are supposed to be
waiting upon the return of John Pier
pont Morgan, who sailed for New York
today. Among the weak features Anal
gamated Copper was affected by the I'M
stable tone of the raw copper market
The price of Rock Island was lowered,
supposedly with a view to discourage
the disposition of minority holders to
liquidate their holdings rather than con-
sent to the conversion plan. Funds were
more freely offered on call today and
the rate was easier. The active export
demand for wheat encouraged the offer
Ing o. exchange bills and the rate for
sterling showed no recovery from yester-
days decline. The closing was quite ac-
tive and irregular.
Wabash debentures BIS were the fea-
ture of the bond market The Central
of Georgia second incomes were also in
demand. Total sales. par value, S. ,000
Uniteu States bonds were all unchanged
on the last call.