The Birmingham age-herald., 1910-03-11
RIM UNDERTONE i, IN STOCK MARKET Transactions Are Slow and Prices Change Little
 SELLING IS GENERAL
Some Declines Occur in the Early Ses sion But Before the Close an Up- ward Turn Is Developed Which
 Helps the Prices

New York, March 10.-The action of the stock market today threw 1o clear night on financial. commercial or industrial { conditions. The movement of prices was not perceptibly responsive to news of af- fairs but rather to the working out Of professional operations. The market demonstrated good absorptive power and the firm undertone thus implied may be accepted as evidence of underlying con- fidence on the part of the holders of securities.
 There was some rtaher striking selling in the early part of the day in continu- ance of the free proht-taking movement of the latter part of yesterday. London joined in this selling in agreement with it's attitude for several days past, but reversed it's position in the course of the day. The view of the labor situation in Philadelphia, which was believed to influence the selling of yesterday, was modified again today to a more hopeful feeling for the restriction of the area of the trouble and for it's early settlement The same feeling was evident regarding the negotiations betwen the railroads and their employees.
 The advance in the dividend rate on New York Central was a remaining infiu- sence in the days dealings in the way of gaining reader credence for suggestions of coming increases in other dividend rates. Not only in the Vanderbilt group and in other trunk line railroads, but in some of the western railroads was this influence effective Flattering reports of the heavy freight car requirements of the New York Central were put out in aid of the sentiment toward the stock. The purpose of getting out new bond fiotations was believed to be the motive for support of the market by large banking interests most concerned in the flotations.
 The special prominence of the Harri- mans in the advancing tendency was as- socated with an assumption heard in Wall street that the testimony in the gov ernment suit against the merger of that system promises we'll for the companies contentious. The same sort of sentiment has been cultivated in connection with the current result in prices in regard to the chances of the American Tobacco and the Standard oil suits It is urged that the profitable activities of the great cor poratons will be carried on in some way
 
 requirements of the law as construed by the supreme court.
 There was g. recurrence of reports of damage to winter wheat crops in the days discussion of affairs but it was not of much effect. The weekly review .s of the price current was reassuring influence. The February statistics of the Copper Producers associatiin was less satisfactory item. The heavy decline in exports for the month threw light on the reported Increase in the European supply of the metal, showing that to be at the expense of the demand from American output. The daily rate of pro- duction in February meantime was con- siderably greater than in January. The dropping tone of the whole market after the appearance of these figures was tes- timony to the importance attached to the matter.
 Bonds were firm. Tota. saies par value. s3,9s70oo. United States bonds were unchanged on call