The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-02-15
STOCK MARKET IS
SEE-SAWING AFFAIR
Effort to Lift Prices is Followed
BY Reaction
REALIZING BY PURCHASERS
Action of coppers Particularly Dis
R0ooa Had Been
REALIZING BY PURCHASERS
Action of coppers Particularly Dis
appointing--A Boom Had Been
Hoped For-Harriman DiVl-
dend Did Not Stimulate.

New York. February H.-Yesterday
nronnise of rising prices for stocks was
not held today, and the failure of the
effort to lift prices was followed by
reaction. News had little to do apparent
Nv with the action Of the market. me
decisive Influence was the perception that
the improved demand melted by yestef-
bays encouraging action of the market
was being taken advantage of to reahze
bn the part of the purchasers OF yester-
lay. The professional trades accepted
his as an indication that yesterdays OPP
rations were designed for a short turn
IN the market. When this realizing was
Ioticed they forced prices down with the
eady adaptability of that class to the
lost available movement. The early buy
w which helped to improve the early
alizing was brought about by short
count
The action of the coppers was partcu-
fly disappointing to the speculative eie-
Ant as hopes had been formed oil
ION in that section of the market III
ssponse to the conditions in the metal
slrket. Anaconda gave quick evidence
opressure to realize and Amalgamated
&c prospect of a leadership in the spec
ution which had been relied on to con-
the the advance was thus lost. Inc
1Rriman dividend meetings were also
1aking in speculative material being con-
1ilH to the regular dividend declarations
onUnion Pacific and Southern Paclhc.
ASrtions for some time past that the
Solhern Pacific dividend was to be
raid, have received no authoritative
co{tenance But there was evidently
refiant of speculative hope that the
meings might offer some such eleetrity-
ingconsequences as followed the last
divend meeting last August, when the
Inn Pacific dividend was jumped from
60 10 per cent basis and the Southern
Padc dividend inaugurated at per
cenrate.
Te prosaic termination of today's
meings by contrast was followed by
co1derable selling of stocks all through
shdist. Wall street has made much or
thdnarlSet wise for many days now OF
Il opposition that the attitude of the
Wilmington administration towards COM
Buttons of capital was to undergo re-
Ni5n.. Visits to the White House or
oatalists active and conspicuous in the
firhcial world have given rise to these
colectures of a treaty. Today there was
1aier notable concurrence in the sub
stAce of several news dispatches from
Washington on this subject which pointed
Conformation from first hand sources
al which rather belied the assumption
Ola change in the administration attl-
tue Some effect was produced on specu-
1dve sentiment by the revision thus
feed of an impression built on unsub-
Blntial rumors.
Honey worked at first both for call and
the loans and no effect was apparent
Sbm the preparation for the return to-
borrow of 100000 of government de-
bsits which has been set for that date
NTH near the end of the day when the
ate touched per cent.
The conviction was held in some quar-
ters that the withdrawal of this money
would be postponed but no official an
nouncement from Washington appeared
as the basis for the assumption. Another
81. 100000 note issue this time by an in
dustral corporation the Lackawanna
Steel company, caused some recurrence
Of the unfavorable impression due to
these issues.
The shorts paused a brief rally when
they covered to take profits, but the
closing tone was weak.
Bonds were heavy. Total sales, par
value, 81 $4,000. United States IS and old
ds advanced 4 per cent on call