The Birmingham age-herald., 1907-04-13
PRICES IRREGULAR
 IN STOCK MARKET Downward Movement Induces
 Liquidation
 BEARS SHOW ACTIVITY coppers Show Weakness Both Here
IRS SHOW ACTIVITY
coppers Show Weakness Both Here
 and Abroad-Has Sympathetic
 Effect on Wheat Market. Growing List Lessens.

New York, April 12.-Prices moved ir- reqular1v downwards in the stock mar ket today on narrowing transactions of professional kind. The declines were sald to have induced some liquidation or long stocks. but importance was assigned to the activity of the bears in the mar ket.
 The news of the day was not of great apparent effect, outside of few special stocks In copper, there was weakness, both here and abroad. This was in con nection with the fall in the prices of conner warrants in the London market and the marking down of the price of conner on the New York metal exchange. The denials by the agents of the great conner producers of the reliability or these questions as an index of the actual market for copper are given a good deal of discussion. But, they do not nrevent the stocks of the copper com nanies from being depressed by the low ering quotations.
 Rio tintos fell sharply in price, The movement of coppers had more or less svmnathetic effect on the wheat market Professions or dDpI6llCh9iCh
 prospects for the crops were iao'ol in the depressions. These were founueo on reports from crop experts traVeiiis III tba cron regions and their influence was increased by the tone in the wheat market. Besides the immediate enect ol these reports depressing prices, 'nes served as a reminder of the groWlps iili- nortance to be looked for from this tune
 
 a market factor.
 The growing listlessness or the opera. lions in the market are a notaple lea lea- ture The continued decline Tn hohes rates both here and abroad. seeins 1o have failed to incite any actlve oeiilahu for securities The failuse or the mar ket to resnond to this development mas much to do with encoArs1ng the peai . to make the attacks on the market "hie.i have been noticeable for two days past. Preliuinary estimates of the Weeks cur . rancv with the interior indicated par ance in favor of New Iork or less tnai' a million dollars. Last week cash saii. in the bank statement aithoash vel large was less than the preliminary est- mates and this gives some eHpee.atlo.l !. that the preliminary figures someWhat ,,odarstate the actual gain to be shown in tomorrow's statement.
 The abstract of the national bank re- norts as of March 9 shows the extehoeo position of the credit situation the coun- try through. and explains the expee,a, ton in banking quarters of contlnueo " demand for cash from the interior to to keep up reserves. From JanuarS .eS ,,i,o 2 N,o,ch % loans expanded $72.516469. while inc nercentage of legal reserves to de- nosits have fallen from H.5S per cent to 20. "A. Agricultural exports for Marcn showed an increase in value over Marcn of last year of s12,72s'1S4 although each item except cotton showed shrinkage; Grain exports for this week also showed a decline from last week or l'6z9'.o' push ale for wheat and 41,2S5 bushels for oorr The market was not under im- n,ediate nressure at the closing, but there was no vigorous recovery. Bonds were heavy Total sales, par value, $,2O4'ooo. United States bonds were unchanged on call