The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-02-25
STRENGTH SHOWN
IN STOCK MARKET
Dealings Are Not Heavy But
Buyers Are Active
BEARS SHOW TIMIDITY
Early Attempt to Depress Prices Meets
with no Success md Closing Prices
Are Much Better Than on the
Previous Day
BEARS SHOW TIMIDITY

New York, February 24.-Dealings In
+ stocks today were scarcely larger than
yesterday. The thinness Of the rlarket
was as marked on the selling side as on
the buying side and it required but
a small absorption to list prices. IT is
the scarcity of stock offerings for sale
that makes the professional operators
wary about operating on the short side z
the market in spite of professed convic-
ton on their part that no sufficient &C.
mand is felt to indicate action on an
influential scale.
The timidity of the bears is aggravated
by such a demonstration Of last week in
Reading and that of today of the South
ern group of railroads. Today's movement
lacked authoritative explanation as conf
pletely as did the previous action of Read
ing A supposition naturally arose thai
some financial project that was working
cut designed to change relation between
these properties, already very close -
reason of the control of Louisville an
Nashville held by Atlantic Coast Line
and a mutual control of other properties
held by Louisville and Nashville and
Southern Railway
f Until the movement in these STOCKS
stimulated some vitality In the rest OF ene
market it was practically lifeless. An
early attempt to depress prices met with
little success and this, as much as any
definite news condition, prompted the
latter upward movement. The quoting
down OF affairs in Philadelphia was ac-
cepted as good news. The offer of arDtra
ton by the Baltimore and Ohio in its
labor dispute made hopeful impression
of prospects for the way in which other
disputes might be dealt with The re-
Wis tof he Current
err happenings of the week in the winter
wheat region had a reassuring effect IN
spite of the admission Of probable dam
age on the other hand the curtailmen'
OF time in the Fall River cotton mills
and the cutting down OF hours u, .he
Reading shops conveyed an impression CT
decrease of profitable activity that was
not relished.
Tho abstract of the reports TO the
comptroller of the currency of the nation
al banks of the country, as of January ii,
shows the loan expansion since the NO
svember 16 report well distributed, the
New York banks being reported for less
than s180Oo,0OO of the $780, 10000 aggregate
Increase for that period. .The stock mar
tket fliauidation effected in that interval
explains the relative showing. In the
yearly comparison however, there is
shown an increase since February of last
year of $685., ,SS7 in the loan account OF
having shrunk in the same time over S2I,-
100000.
The credit condition Is, in consequence,
still considerably extended In spite of the
substantial deflation which has occurred
in the stock market. This comparison
lends Importance to the reports coming
from, leaders in mercantile paper here in
New York of q desire to discriminate
against paper not of the choicest grade
. Force Is given also to the suggestion that
a process of liquidation on old cotton and
grain paper through the country may
remain to be completed. Today demand
for remittances to London advanced the
rates for sterling exchange and discount
rates rose In the London money market.
Bonds were steady. Dealers report an
improved demand for bonds. Total sales,
par value. 81. $4,000.
United States 2s, 3s coupon ana As ao-
yanced u per cent on call.