The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-04-18
Relaxation in Business Hesita-
ton Throughout Country
EASIER FEELING NOTED
of Charges Contemplated in Rail-
road FieId-No Disposition
to Better Orc Prices
BY RALPH EMERSON

supreme court ordered the re-argument
of the American Tobacco company and
Standard OIL cases, the stock market COM
meneed to assume steady strength. Ihere
was a relaxation in the business hesita-
ton throughout the country when the an
nouncement came from Washington. rms
week the total business of the stock ex-
change was about 100000 shares, widely
distributed. Some of the advances were
5M in Reading, So in Union Pacific, 6%
in Steel, 31a in Amalgamated Copper and
6ts In Southern Pacific.
There were several contributing causes
last week to add brighter feeling to the
stock market. The United States steel
corporation has increased the wages OF
their $4,000 men practically per cent,
which will likely forestall any labor
troubles The coal miners In the western
Pennsylvania district and skirting the
Pittsburg industrial belt, have had an
advance of wages offered them, but the
strike situation is by no means improved.
President Taft's attitude against the pro-
posed investigation of the American Sugar
Refining company is in line with the plea
for industrial peace. Attorney General
Wiokersham, in his Chicago speech, said
that the government would not Interfere
with legitimate business enterprises, and
President Taft is maintaining an attitude
The gold shipments to Europe still keep
up. and at the present time $12,ooo,0oo gold
has been sent abroad.
A number of changes are contemplated
in the railroad field. report from Mon
treal says that Sir Thomas Shaughnessy,
president of the Canadian Pacific, is plan
ming to resign. 1t is understood at the same
time that A. ]. Earring, president of the
Chicago, Milwaukee and ST. Paul, has
signfied his intention of resignipg. Mar
vim Hughitt, president of the Chicago and
Northwestern, Is also said to be contem,
plating retirement. }. T. Harahan's con-
nection with the Illinois Central has now
come to be looked upon as merely nomi-
nal These changes will bring some new
men to the front. So far as the rail-
road industry is concerned, reports of the
week were encouraging. Developments
tended to show that business is growing
steadily better. English capital has be-
gun to encroach In the American railroad
field to a noticeable extent The Pearson
syndicate is now heavy holder of Rock
Island. This English syndicate is also
credited with now having complete con-
troll of the Lehigh Valley. The Pearson
clique hold s1s,oo0,0oo worth of Rock
Island bonds in addition to the preferred
and common stock
President Howard Elliott of the North
ern Pacific, who was in New York for
several days, before leaving for st. Paul
said that conditions west of the Missouri
river were highly favorable to a good
business year. He said that there was
an increased acreage under cultivation
and that the lumber industry was UNDER
going boom.
At the end of the eighth month of the
current fiscal year for the Fill roads,
three of the four had earned a full years
surplus required to maintain the current
dividends. The Colorado Southern has
the widest lead over surplus requirements,
but the Burlington could easily increase
it's rates IL the controlling lines SO desired
The switohmen's strike and the weather
retarded Northern Pacific. There is little
llk1lnOOQ tndl either the NOIlIeTH f-d-
cifie or Great Northern will increase its
dividend or make any extra distribution
this year.
The Baldwin Locomotive company will
bring out a s10,ooo,OO0 bond issue in the
near future.
1t is believed and present indications
parently bear out the belief, that the gross
earnings of Atchison this year will be
between sl030o0,o0O and $104,000,O00
A compilation today shows net earnings
of the Gould roads at the end of the
ninth month of this fiscal year, showing
an aggregate increase In the gross earn
ings of nearly s120o0.O00. OF this amount
Denver and Rio Grande contributes the
greatest share. Next Is Missouri Pacific
and the least amount is given by the Cot
ton Belt.
The Pittsburg Cincinnati, Chicago and
st. Louis (Pan Hapdle) held its annual
meeting on Tuesday and announced an
increase of earnings of more than $780,
900 over last year.
The directors of Amalgamated Copper
will meet on Thursday of this week to
take action OH dividends. 1t Is generally
expected that there will be no change in
the rate.
John d. Ryan, president of the Amalga-
mated, In q statement said the outlook
Is most optimistic. During the latter part
of the week the sales of copper metals In
creased. Calumet and Hecla advanced
their prices for that reason.
The reported movements of money indi-
Gated a cash gain of about $3.50 900 in the
reserve. Fairly large gains from the in
terror on the sub-treasury operations were
offset by the gold exports.
In quarters close to the affairsA of the
United States Steel corporation 1t is ac-
cepted as a common fact that the common
stock will be placed on per cent basis.
Industrial reports from the southern
fields show no disposition to better ore
prices.