The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-12-01
|. & n. BID UP
PROFESSIONALS
Movement Based on Belief That
Dividend Will Increase
STOCK MARKET NARROW
Decrease In Cash Less Than Antici-
pated from the Known Move
ments of Money-lncrease of
Loans Was Dlsquieting.

New York, November 29.-The profess
Eional traders who practically monopoliz-
ed todays narrow stock market bid up
Louisville and Nashville on protested
sbelief that the dividend is to be incrsas-
ed and Brooklyn Transit on the showing
of Its net earnings of the opening deal
ings Commission houses with Washing
ton connections circulated alleged verba-
tim extracts from the Presidents forth
coming message of a much milder tone
on the subject of trusts of some of the
recent alleged sources effected by bear
traders, but the market failed to de-
velop any animation, owing to a general
desire to see the bank statement before
making commitments. There was spill
sing out of stocks when the statement ap-
peared, but supporting orders were met
and the market rallied and closed stady.
frhe decrease in cash was less than an
dicipated from the known movements
of money, but the heavy increase in
loans was disquieting. 1t is said, that
interior banks have been calling in loans
and the demand upon the local banks for
accommodations has thereby been in
rior banks early in the season gave rise
ito the hope that they were so largely
supplied that the usual interior demand
for moving the crops would be less than
usual this season. The accommodations
that offered, however have been largely
srecaled 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 S30000,000 This weeks
Of talrc al
eddy represents preparations by corpor-
ations to make December l disburse-
ments.
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
to hold up the startling exchange rates
here and to draw from local sources here.
This week a few special developments
had 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-
flicting import the price movement also
had been irregular and constantly fiuc-
tuating This irregular movement has
been over a narrow range in conSonance
with the small actual participation in the
market e-.t
Money resources for speculative use are
in scanty supply and financial authorities
and powers are averse to seeing large
rredits for speculative purposes. The drop
in silver to the lowest price in the history
Of the world, has been an incidental in
fuence 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
tiers.
The bond market has been dull, but
prices Of investment issues are well sus-
tanned. The United States rs, the 3s
registered and the IS declined " per cent
each as compared with the closing call
of last week.