The Birmingham age-herald., 1910-09-21
LITTLE CHANGE IN
 PRICES OF STOCKS
Movement of the Market Is
 Very Restricted
LONDON BUYS FREELY
-rop News Is More Favorable But Re. port on United States Steel Has Depressing Effect Upon the
 Later Market

New York, September 2o.-The narrow Limitations of the present stock market |kere marked again today by the way in Fhich the price movements exhausted themselves before going far in either Erection. The wholly professional par ! Ecipation In the trading serves to ex- |lain this restricted movement. Opera |ons are purely tentative and falling to |evelop and response either in the way of |elling from genuine holders of demand Intended to extend over the days end, he courage of the trading element does lot suffice to carry quotations beyond he danger line of small losses. The set lement of larger questions Is awaited Fifth determination by the larger financial Interests before attempting any important transactions in stocks.
 i The early advance was partly in re- |ponse to the London market, which took ID the later recovery here where 1t left Tiff yesterday and pushed it somewhat |Irther.
 | Buying for London account was fac |br in the strength shown at the outset ere. The higher prices brought in realiz- |g sales and reaction set in. The decline egan about the time the finance com Iittee of the United States Steel corpor- |tion was ready to go into session and hat stock led the movement. The fall in Fices was not continued to the end of he day and the net changes again proved hall. The crop news was good both in be immediate adyices from the field and
 the weekly bulletin of the weather bu- Pau reviewing past conditions.
 A rise in the price in the copper In ondon was cited and reports of cur -ilment of output by one of the copper lining companies of secondary grade as pointed to as an encouraging deyel- pment in the copper trade. There were pmors put in circulation of the proposed |btry into the Interborough-Me Metropolitan bmpany of important banking interests hd on these rumors there was palpable Xalizing at the advance, which had oe- irred In these stocks on preceding days Ihis movement was partly responsible
 r the realizing in the general list which beided the later tone of the markets. IReports of lessening demand for steel Eoducts, of increasing competition for
 ders and of coming further reductions
 the prices of leading lines were kept
 circulation and helped to depress pni-
 h States Steel, with sympathetic effect
 the general list.
 ne proposed increase III OfeSoh ohoft
 ne stock came as a surprise and mar
 It sentiment was rather at a loss to in #rpret its significance or it's effect on hion Pacific, as the owner of the exist
 g stock and the proposed taker of ad- |tional stock when it shall be issued.
 Conditions in the money market were
 thout marked change. There was de-
 ne in the private discount rate in Lon In and foreign exchange rates here
 ere lower. An increase was reported
 the supply of cotton bills offering In
 b exchange market and the demand for
 nittance is light.
 There is an improvement in the bond Arket which is barely perceptible from
 N to day, but which becomes more dis E'nible when comparing one week with
 other. The tone today was, firm. To-
 sales, par value, s2.l6s,00o. United
 ates bonds unchanged on call