The Birmingham age-herald., 1910-07-16
TRADING IN STOCKS
 IS VERY LIMITED
Prices Change Very Little in
 the Days Session
SOME STRENGTH SHOWN
While Obstacles Are Offered to Any Sign of Improved Prices There
 Is Little Incentive to Cut Them Down

ket today displayed it's narrow limitations in every way. Dealings were small and fluctuations narrow. The oppressive weather and apathetic interest played their part in the showing. Tlfe rigidity of the market was due also to the ob- stacles which were encountered in the course of any improvement.
 Buying orders uncovered on decline im- ited the bears and their efforts to secure stocks showed how scarce were the offer ings.
 These efforts were not pursued urgently or the advances in prices and with the subsistence of this demand the buying or ders disappeared and left prices to drift in an almost idle market. Selling pres sure was not conspicuous at any level. and it was this fact that gave the market Its negative strength and power of resist ance. Last prices were not much changed on the day.
 depressing effect was exerted by the fresh show of strength in the wheat mar kets, especially those in the northwest Reports of spring wheat conditions poured into the market, increased attention being given to the Canadian situation. This was responsible for the special weakness of Canadian Pacific The weather map was unfavorable for spring wheat and predic- tions were for continued drouth and heat The spurt in cotton added to the influ- ence of the wheat news, although the ex- emption of, new crop futures in cotton from the movement pointed to a more purely market condition for the rise in that commodity.
 The demand for Amalgamated copper was attributed to an uncovered interest built up in the course of the recent heavy decline in that stock.
 The rally in its price was accompanied by rumors of betterments in the copper trade situation and by recovery in the prices of copper in London.
 The Pennsylvania labor situation weighed on the market, although the ef- feet on Pennsylvania stock itself was slight.
 Shareholders are confronted with the plant of rising expense accounts from railroad officials and the necessity of higher freight rate charges to meet them and prospects of expanded pay rolls do not recommend themselves to holders of stocks.
 Demands in one case are regarded as a prelude to others. and the alternative of stocks is not more grateful to those seek ing to enjoy profits from the operations. The prospects were for strong bank statement tomorrow The inflow of cur rency from the interior has been heavy. The first shipment of imported gold ar- rived today, amounting to over $1 800, ,000. The payment of the income tax has been practically completed, thus relieving the New York banks from the drain of that requirement. and leaving the weeks sub treasury absorption merely nominal. The general result promises to be an addition of $S,o00,00o or $10.0Oo,OO0 to bank cash by tomorrow's bank statement.
 The interior movement of gold gives every indication of continuing. Private discount rates receded again In London today. and sterling exchange first declined and then recovered. Early next week the Bank of England will pay out $20, 600 for maturing treasury bills, of which a series falls due in uninterrupted success sion throughout the summer and fall.
 The tone of the time money market here was slightly easier.
 Bonds were irregular Total sales, par value, $1,416O00. United States bonds un- changed on call.