The Birmingham age-herald., 1908-03-10
STOCK MARKET < MUCH STRONGER Business ls Extremely Lively
 for About An Hour PRICES HOLD THROUGHOUT Market Relanses Into ouietude Dur ing the Latter Part of the Day,
 But BuIIsh Tone Holds
 Its Own.
PRICES HOLD THROUGHOUT

New York. March 9.-The conservative views held by professional operators in stocks over the improvement in conditions underlying values of securities was marked by their action today following the sharp advance which occurred in prices on Saturday. There was evident haste to reap such profits as were afford ed by the over-sunday demand for secu- rites attracted by Saturdays advance and the trading started off at a fast pace, transactions during the first hour footing up a quarter of million shares. The second hours business, however, dropped to below 90,000 shares, and midday found prices dragging again about Saturdays closing level. With the outside demand thus fed and professional holdings cor respondngly frightened, there was some resumption afterwards of operations for the advance. The demand was not large but the floating supply of stocks was found to be light again and prices were put up without encountering formidable obstacles. The renewal of these operations on the long side after the testing and di- gestive process of the first hour was held to indicate satisfaction with the absorp- tive power, of the market on the part of such speculative party which has operat- ed for rise.
 There were no striking or new develop ments in the news. Slight improvements reported by the railroad traffic officials were mentioned without enthusiasm. bar q verse showing. heayness in spe- sial stocks contrary to the general course of the market was at- tributed in some cases to fears of forth coming reports of heavily decreased earn 1ngs. Advices from the iron and steel in- dustry were encouraging and further re- sumption amongst mills in that trade were reported. Copper enjoyed a wide rebound in London and the price of that metal here was more firmly held. The more cheerful feeling over the steel trade was helped by the unprecedented exports of that product reported for February, when 92,0S6 tons of finished forms were sent out from New York and other east ern seabcard points This compared with oo,VVV loIS III JdHudfN ana IS said 10 be 50 per cent above the average monthly consignments for nearly year past
 International bankers report that the easing course of foreign money markets is throwing some inquiries for investment into this market. This is confined as yet 10 high grade mortgage securities and to some extent to purchases of mercantile paper for account of foreign banks, the rates prevailing here making an attrac- tion compared with declining money rates at home. This development is considered of importance, considering the large new issues by corporations which are known to confront the New York market
 The foreign exchange market today was suggestiyely weak in spite of the lessened shipments of grain to outward ports which was feature of last week The low reserves of grain reported in farm CTS hands by the government experts, whose figures were made public during the day, shows to how large an extent the export of our surplus has already been made in the rush to liquidate our financial necessities following the panic. The sec ondary rise in prices was firmly held to the end.
 Bonds were firm. Total sales, par value, s, 2,39S, 900.
 United States bonds were unchanged on call.