The Birmingham age-herald., 1910-02-27
DULL AND MARROW
 WEEK IN STOCKS
An Undercurrent of Strength
 Is Shown in Trading
OUTLOOK IS VERY GOOD
Copper Merger Is Halted and Probe Into Hartman Merger Is Going But Neither of These Factors
 Have Much Effect
By RALPH EMERSON

New York. February 26-(Special) )- This was a week of narrowness and dull ness in stock exchange dealings with professional dealers offsetting bear senti- ments with bullish roads or vice versa. On Monday and following Washigtons birthday the same listless tone prevailed. Generally there was an undercurrent of strength and firnlness but the trend of trading was so narrow that it indicated professionalism almost exclusively.
 Colorado and Southern beginning yes terday had evidenced unusual strength upon the report that the James J. Hill interests have accumulated considerable of the stock with a. view to getting trol of the line.
 The pending copper merger, which has been halted and rehalted by litigation has cast a pail over the stock market The general run of traders and brokers are in ignorance of the real status of cop per affairs and they are cautious Their caution has communicated itself to in vestors. The heavy shrinkage in stocks of copper companies has failed to stirnu- late buying movement in the face of the general ignorance of copper merger con ditions. But aside from the stock feature the production of copper has fallen off.
 The money situation is good; western banks are taking blocks of government bonds in big quantities. Money has been flowing into New York in a steady stream in the past week, but the larger frac- tion of 1t was taken up by the govern nent through the sub-treasury. The bond market is better than it was
 ,.ofI ,iol and trade conditions are normal. We are now standing upon the threshold Of the regular spring boom and great orders for equipment, ores. steel and metals are be- ing made public daily. There is an inn proved demand for steel. From the indi- cations of the past week February will make 8 better showing in steel than January and there is no question about March making a better showing than the current month. 4s
 In the same connection I learned this week that the United States Steel cor poration would begin taking out ore from Its Great Northern ore properties this year on a large scale. It is expected that from 100000 to 1,500,000 tons will pe taken out this year. Already 5C0,000,00O tons have been located on the property but quite likely there Is even more than that amount.
 A total of 1o0,o0o tons of steel rails has
  road companies during the present week over last week.
 The Hartman merger hearing was on again this week, but it has no influence either direct or indirect upon the mar ket There were fears that "disclosuresr might be made, but nothing has devel- cpeG. +Eaf
 Looking into the railroad field attention Is drawn westward and l look to see the west and southwest the center of rail- road activity this year. Atchison is put ting the finishing touches on a programme of extension and aggrandizement which will cost 000 but the cash neces- sary for those vast Improvements has already been raised It was announced yesterday that the Rock Island would spend $4000,000 in improvements at St. Louis and Kansas City, and at the same time a schedule of service improvement for Colorado was given out. Wage differ ences between the Baltimore and Ohio and it's employees gave a pessimistic touch to that roads affairs this week. In fact, the Baltimore and Ohio was made what might vulgarly be termed "the goat in the eastern conference, for the train men decided to make their demand for the western wage schedule to the Balti-. more and Ohio first before asking am other western road to install it. T
 There were increases in all Gould roads.
 There was a 4-point advance in Louis vile and Nashville this week over the report that the new financing plan for the line will greatly benefit the stockhold- CTS. The earnings so far this year show an improvement, so great that. I hear the prediction of 22 per cent earnings for the current year freely made.
 In the coal fields anthracite trade is dull and wage troubles threaten the bi- luminous operators. But a feature of the coal situation which cannot be overlooked is the revelation at Washington that at feast $2000,000000 worth of coal underlies Alaska. This information has no influ- ence on the market. but it does show the marvellous resources which the ordinary laymen of the country never dreamed of.
 The furry in Central Leather was vast ed. Contrary to expectations the direc- tors did not declare a dividend on the common although the regular quarterly dividend of IA per cent was declared on the preferred. The buying of United