The Birmingham age-herald., 1909-12-11
STOCK MARKET Is
 VERY UNCERTAIN Disquieting Rumors Cause Weakness In Industrials READING IS UNDER FIRE Commodity Clause of Hepburn Law Is Reported as Having Been Violated
 By Reading and Bearish h.
 fluence Is Exerted.

New York, December 10-The~ choppy and uneven movement of stocks today was partly traceable to the profittaking operations based on the considerable rise in prices for the week. There were some disquieting rumors which caused weakness in individual stocks and added to the irregularity of the market. The undertone of the market, however, still showed the beneficial effects of the in- depreciation placed on the Presidents message and the clearing of the money situation by the reduction of the Bank of England discount rate. The disturb ing rumors had to do mainly with Read ing, which was said to be involved In some contemplated action by the depart rnent of justice in connection with the commodity clause of the Hepburn law. Inquiry failed to bring out any definite Information on this subject and the lat ter market showed some relief from it's Influence.
 The speculative trend showed by the Pennsylvania group was accompanied by rumors that the directing control of Nor folk and Western was to revert to that system through the medium of Pitts burg, Cincinnati. Chicago and St Louis. The statistics for November of the cop. per producers lacked stimulating eff feet.
 Thenominal decrease of stocks in hands of producers resulted from a reduc- ton In output. the deliveries for con- sumption and export falling slightly be- low those for October in spite of the stimulating effect of the rumor of a combination Of producers to restrict ths output, which enlivened the market for copper early in the month. A good deal of interest attached to the report that ..11 t.~ fa1 hrr fl1 lna1r of United States Steel stock, which was taken by a syndicate of French bankers at the time the project for listing the stock on the Paris bourse was attempt ed.
 The block of stock was creditably re- ported at the time to amount to 100000 shares and 1t was inferred from the price ruling in the market at about the time the transaction was accomplished that the price paid was in the neighborhood of 60. It was the general belief that the placing of this block by banking houses closest to the United States Steel corporation carried with it implied obli- gations regarding future dividend action and also market management and that 1t was an integral part of the great mar ket campaign in the stock which gave signs of origin when United States Steel broke to 41A after the open market for steel products was announced in Feb ruary. Today's report gives additional interest to recent rumors of repayment of enormous loans to foreign tenders in which United States Steel figures as collateral. These repayments were an accredited influence in the persistent strength in tue. foreign exchange mar ket for some time past HOW far the closing up of d stock market transac- ton of great magnitude is to be Inferred from these incidents may furnish food for conjecture.
 Estimates of the weeks currency movement showed the strong counter currents still in force. The. express