The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-04-15
STOCK MARKET IS
STILL VERY FIRM
New Outside Demand Is Added
to General Buying
MUCH STRENGTH SHOWN
Crop News Is Considered Encouraging
aud In Spite of Narrowness in
Price Movement Trading Is
on Good Basis

New York, April 14-The stock market
today gave further evidence of the or
dered and systematized proceedings of
the large operative forces which We're
supposed to be responsible for the adj
vance of the day before. Stocks which
were strongest yesterday were subjected
TO a process of profit taking at different
times today to take advantage of the
new demand attracted from outside
sources by the demonstration of yester-
day.
The new demand was reported to be
considerable as shown by the buying or
ders received by the commission houses
IT was those orders, matched by the SELL
ing orders to realize from yesterdays
buyers, which gave the market its APP
pearance of animation during the first
hour. The narrowness of the price move
ment during that time was a noticeable
feature for the same reason.
The markets greatest show of strength
developed in new quarters, as usual, in
pursuance of planned speculative cam
paign in order to give appearance of
variety TO the dealings and to extend
the profit taking.
The aggressive measures employed for
carrying on the movement and the proof
given in their scope of the possession
of large resources gave confidence to a
speculative following and indicated the
professional opposition The retreat of
the opposition by the covering of shorts
was a material factor in the strength
shown by the market
There was not much specific news to
account for the action of the market, but
current discussion about the stock ex-
change dwelt largely on general con-
sderations. Crop news was considered
encouraging and the decline in grain
and cotton prices emphasized this view.
A bountiful yield of natural products in
the proportion that it can be fnreseen
at any time is of unfailing effect in
raising expectations of security values.
Collected views of Chicago bankers which
made their appearance today dwelt upon
this factor with special force and a re-
liance for sustaining the credits entered
into land enterprises and irrigation pros
poets in the west.
The weekly statement of the Bank of
England pointed to a decrease in the
demand from that source upon New York
gold holdings Besides the gain in bull
lion holdings. the weeks repayment to
the bank amounts to over 1923. 000, 900, and,
in addition S., 10000 of American gold
went into the bank today with further
large sums afioat for the same destina-
ton. The March foreign statement of
the bureau of statistics called renewed
attention. however, to the abnormal con-
ditions existing. The record imports, to
the value of $162, 955,0T6, established an
excessive value of imports for that month
of S19254,613, compared with an excess
value of exports in March of last year of
ss417, Al
The two Hill stocks were strengthened
by intimations of coming financing which
II was believed miP/t involve subserip-
ton rights to stockholders of value.
There was a report that the price of
lake copper had been advanced by an
interest which made sharp cut earlier
IN the week Dividend increases were
the subject of rumors about United States
Steel. Pennsylvania and other stocks. The
Pittsburg coal mining agreement was
regarded with satisfaction. There was
a belief prevalent that comprehensive
advance in freight rates was In eontem-
p.atian by the railroads as compensation
for the raising of wages of employees.
Bonds were firmer; total sales, par
value, 81, s04 600; United States bonds were
unchanged on call