The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-11-30
l. & n, BID UP
PROFESSIONALS
Movement Based on Belief That
Dividend viii Increase
STOCK MARKET NARROW
Decrease in Cash Less Than Antiei-
STOCK MARKET NARROW
Decrease in Cash Less Than Antici.
pated from the Known Move
ments of Money-lncrease of
Loans Was Dlsquleting.

New York, November 29-The profess
Bional traders who practically monopoliz-
ed today's narrow stock market bid up
louisville and Nashville on protested
belief that the dividend is to be increas-
ed and Brooklyn Transit on the showing
of its net earnings of the opening deal
angs. Commission houses with Washing
ton connections circulated alleged verba-
tim extracts from the Presidents forth
coming message of a much milder tone
ION the subject of trusts of some Of the
'recent alleged sources effected by bear
traders. but the market failed to de-
iwelop any animation, owing to general
ldesire to see the bank statement before
Imaking commitments. There was a spill
Nng out of stocks when the statement ap-
hpeared, but supporting orders were met
and the market rallied and closed stady.
gThe decrease in cash was less than an.
hieipated from the known movements
eof money, but the heavy increase in
loans was disquieting. 1t is said that
hnterior banks have been calling in loans
and the demand upon the local banks for
accommodations has thereby been in
lrior banks early in the season gave rise
ito the hope that they were so largely
sSupplfed that the usual interior demand
flor moving the crops would be less than
susual this season The accommodations
THAT offered, however, have been largely
recalled. Interior loans in New York were
estimated at one time at ninety to one
hundred million dollars, and are said to
be now less than $3000O,006 This week
ole
iedly represents preparations by corpor-
iations to make December l disbnrse-
aments.
These payments are likely to be return
ed to the local money market after their
receipt by stock and bond holders. The
payment In London on Monday for the
stocks of constituent companies in the
shipping combine also marked the salts
factory requirements which have helped
40 hold up the startling exchange rates
here and to draw from local sources here.
This week a few special developments
had a dominant effect on the whole list
so far as the price movement was con-
cerned, without, however, including any
important degree of activity. As the
special developments have been of con-
fiicting import the price movement also
had been irregular and constantly fluc-
tuating. This irregular movement has
been over a narrow range in consonance
with the small actual participation in the
market. #s- cess aa
Money resources for speculative use are
in scanty supply and financial authorities
and powers are averse to seeing large
credits for speculative purposes. The drop
in silver to the lowest price In the history
of the world, has been an Incidental in
fiuence in the market, specifically upon
the American smelling stocks and gener-
ally by reason of embarrassments caused
to the silver standard countries and their
reflection upon the worlds financial cen
ters. 1H -
The bond market has been dull, but
prices of Investment issues are we'll sus-
tanned. The United States, Is, the IS
registered and the IS declined Y per cent
each as compared with the closing call
of last week.