The Birmingham age-herald., 1904-11-12
DEMAND CONTINUES IN STOCK MARKET Market Broadened Out Mate- riaIIyin Late Trading DEALINGS BELOW MAXIMUM Upward Flight of Independent Steel Stocks Accompanied Report Of
 Merger of Southern Iron
 Companies.
DEALINGS BELOW MAXIMUM

New York. November 1.-The stock market had its vicissitudes today and +here was 8 feeling of the pulse and study of the symptoms from time to time on tbe mart of the professional. But the sustaining and uplifting power of the demand demonstrated itself beyond ouestion in the latter part of the day, and the tendency of the continued active demand toward reversion to standard railroad stocks helped to the improving tone.
 The dealings were not so heavily con- gested as has been usual lately, and the market broadened out materilly. This was partly due to the many obscure spe- cialties which were brought forward into prominence and activity. But even in the standard railroads the buying came from more disseminated sources, as was evidenced by smaller individual blocks dealt in. Long strings of sales in blocks of many thousand shares, which have characterized the dealings In stocks picked for each days leadership was largely lacking today.
 For this reason the total dealings are below the maximum, but the market had more appearance of animation and brokers on the floor seemed to be buster than on any previous day this week. During the first hour practically the whole market succumbed to the movement to take profits; a good level of prices was carried very generally below last night. A better impression was produced when Missouri Pacific renewed it's advance of yesterday. Strength spread from this stock to all the southwesterns and corn carriers, including some of the southern groups benefit.
 The prospect was evidently the strong underlying strength of the whole market. Atchison was late in responding, inotwith- standing the confirmation of the large holdings of the stock acquired by Rocke- feler interest. The great variety of movements in specialties seemed to be started by the violent Jump in Pacific mail. Another advance In the price of Amalgamated Copper helped that stock, and probably the general market. The United States Steel stocks were conspic- uously laggard, and were not helped by the late report that the committee on steel billet prices had decided to recom- mend an advance of g. per ton in the price of that product
 The upward flight in some of the inde- pendent steel stocks was accompanied by reports of a project maturing for a mer- ger of the southern iron companies. The incoming returns of railroad earnings for the first week of November showed uniform advance over last year. The money market was called slightly easier than yesterday, although the currency movement at the interior shows a gain on balance of less than a million and half as an offset on treasury operations on gold exports of s2,173,0O0. Tomorrow's $2,O00,000 gold export to Cuba does not figure in this showing. Sterling exchange hardened here, and went lower in Paris and Berlin. The late realizing and anima- ton of the market left its appearance of strength unimpaired
 The bond market was strong and the de- mand for some of the better grades was especially improved. Total sales, par value, $1492O,000.
 United States bonds were unchanged on call.