The Birmingham age-herald., 1908-07-13
STOCK MARKET
 BECOMES ACTIVE Period of Stagnation Suc- ceeded By Animation
GOOD DEMAND FOR STOCKS
Some Advance Was Made During the Week, But the Real Active and Upward Movement Is Ex-
 pected on Monday.

New York, July 12.-Last weeks secur- ity market gave a clear reflection of the determination arrived at by an effective number of stock market participants to throw off the waiting attitude main tained for some time past and to act on thelr conviction that better things were in prospect for business and industry. In contrast with the absolute stagnation into which the market had fallen by the close of the preceding week there has sprung up degree of animation not equalled be- fore since the early period of June, the average daily transactions rising well over half million shares There was expan- sion also in the bond division and a broadening of demand in that department which was most encouraging to senti- ment. The assurance of abundant supplies of banking resources throughout the year. the promise of crop yields above the av- craze for recent years and the approach ing termination of the sessions of the democratic national convention were the main factors ln stimulating the new spec Llative departure.
 The spirit of uncertainty and the con sequent halt in business activity have be- come so much matter of course in years of national political campaigns that prog ress towards eliminating the uncertainties are of recognized beneficial effect. The naming of the candidates of the two great political parties and the defining of the issues on which the campaign is to be fought were accepted as steps towards knowledge on which to base the estimate of the outcome and were acted upon in this light.
 The bling up of loanable funds in bank ing reserves and the resulting pressure to find profitable employment for these sums have an almost infallible effect in opening up a demand for well secured bonds and dividend paying stocks.
 Great importance was attached 10 tne symptoms last week of reviving trade The most striking of these were reporteu from the steel trade, where resumptlohs on a large scale of operations in the steer nllls in the Pittsburg district were enron icled, with renewal of employment TOT thousands of laborers who had been ldie and without pay for several months ope- cial significance was attached to the large rroportion of the new orders TOT sleel which were received from the agricultural implement makers as indicating well IT. formed opinion of the prosperous condl- lions of the farming community ana the good promise for the years crops.
 Railroad earnings do not yet sho" lih- movement The American Railways as- sociation has reported further decrease of 8s.es6 in the number of freight cars idle in the two weeks ending June 9dc aa making total reduction of over loe'oVo cars from the greatest idle equipment or April R9. Railroads in the northwest are kIaAf~ fTnI reported to be calling m their lrelsl' ooi,inment from foreign lines in prepara- ion for a large traffic movement when the crops move. In various minor mes of industry come evidences of revivlng demand and preparations for increased production to meet it.