The Birmingham age-herald., 1910-09-17
bMALL ADVAnull s
 MADE IN STOCKS
Hesitation Marked All Deal ings for the Day
OUTLOOK IS HOPEFUL
hartman Gary of the United states Steel Corporation Talks of the situation in n Very Cheer fuI Manner

New York, September 16-There wac b general clearness of conception and b great strength of conviction on values
 securities reflected in the action of the
 ock market today Hesitation and un- ertainty were written upon the face of he market The undertone was heavy nd sometimes weak, but at other times here was evidence of resisting power and
 gns of support which implied pro- Ective influence.
 The ransactions in United States Steel
 ere more than double those in any other he security and when dealings in Read bg and Union Pacific were added there
 as not much left for the rest of the harket, while the great preponderance
 the operations in United States Steel ave that stock large sympathetic eff bet on the general market. Discus
 on of the iron and steel trade, in fact. ecupied much of the attention of those ealing in stocks.
 The hopeful spirit of the remarks of hartman Gary of the Steel corporations s bard of directors upon his return from broad was penetrated by the scrutiniz-
 g of the reservations contained in the brecast. The weight attached by Judge ary to politics as a restraint on busi- ess activity did not allow an inference
 hopes of early activity in the trade.
 was perceived also that the chairman welt on the accumulation of old or efs as the source of any prosperous ac- witty at the present time, and casual eference to "only half our capacity per hy in new orders" was seized upon for fo yora h dednctfonG There
 sistent talk, also, of an open cut in rices of steel products in contempa- on. --~~
 The absence of official information on he subject weighed on the market Some fleet to this influence was the report on European copper stocks, showing a de- fease in two weeks of upward of 4,0O0,- 0s pounds and bringing the European |sible supply down to the lowest level buched in 12 months.
 The exports of copper from New York br the past week were reported at the anne time at 10,S43 tons, compared with | Al in the corresponding week of last Fear Copper securities in London were hvorably affected by this showing and &ere given some power of resistance in he New York market.
 The preliminary estimates of the week s Ilrrency movement were interesting as ndlcating a balance or fecelptS over .aipments of currency by express from ie interior. The loss of cash on sub +easury operations of s6,053,000 seems to e thus reduced to little more than S5,- 10, 900. The complication over the |nancing of the cotton movement re- hained a subject for consideration in onnection with the money situation. So id the report from Washington that the |ugust statistics again showed an ex- ess value of imports over exports, thus )frning the balance for the eight months breign trade of the United States against . his country. The discrepancy thus i'm
 lied in the price level of commodities l this country in relation to the rest of he world gave force to the fears of flfr- her decline in prices of steel and copper s necessary preliminaries to trade re- 3val.
 I The unfavorable weather reported for he corn crop was sustaining factor | he signs of support for the Hartman locks on the decline turned the mar ct and prompted the covering of shorts [hich closed the market strong. Bonds +ere easy. Total sales, par value, s1,755,- O.
 United States bonds were unchanged h call.