The Birmingham age-herald., 1910-09-08
DULL CONDITIONS
 IN STOCK MARKET  Prices Continue On Down Grade With Little Rally DECLINE IS GENERAL
Result Of Election Tn Vermont is An. other Political Factor of Depres- sion While Little Effort is
 Made to Aid Prices

New York, September 7--Events, which 1t was supposed were awaited to dis solve the uncertainty and hesitation Of the speculation in stocks, succeeded each other without bringing any relief to the dullness. Yesterday it was the Vermont elections which were said to be repress- ing activity in the market. Today at tention was carried forward to tomor- rows government report on grain crop condition. Should that fail to arouse activity in the dealings in stocks the coming copper producers report and the monthly statement of unified tonnage orders of the United States Steel cor poration will be brought forward as the subject on which light is desired.
 The stock market followed it's tradi- tion in depressing prices on news of reduced republican majorities in a Yer mont state electon. As yesterdays sell ing seems to have been based on ex- pectation of the result there was sufficient demand from uncovered shorts to rally prices. This action of the market was accepted as another proof of it's exceed ingly narrow and professional propor- tions and of the wholly perfunetory char acter of the operations now going on. There was another lapse in interest In consequence and later the market lost nearly all semblance of interest.
 The disposition to cover by shorts was enhanced by the belief that tomorrows government report on crop conditions may show improvements. The spring wheat crop, especially Is believed to have made up part of It's late deficiency to an extent to promise a prosperous total yield. me
 
 able, Is likely to be accepted with more reserve owing to the conviction that the year will offer unusual hazards From frost damage owing to the lateness o1 the crop in maturing.
 For this reason every day of warm Ia yoring weather in the corn belt gives Special qualification adding a fresh portion to the amount of the crop al ready made and secure from frost
 The adjustment to more normal price levels in the cotton market is matter that would bring satisfaction to an ex- tensive circle of financial and industrial interests, especially for the effect 1t would have in melting export demand Tor that product and this helping to restore the d,screpancy in the foreign trade posi- tion.
 The weakness of foreign exchange to- day was believed to have connection with the increasing supply of commercial bills in that market. A rise In the prl- vate discount rates in the Berlin and Paris markets did not check the move ment London discounts were unaffected and any change in the Bank of England rate is not looked for tomorrow. The movement of currency out of New York continues but at a moderate rate Chi cago reports an easier money market Half a million dollars of Mexican gold , has been received in New York today and the shipments to Canada have been suspended. It is believed in the finan- cial district that trunk line railroads will offer a stronger argument for higher freight rates in the hearings begun to- day before the interstate commerce com rnission's examiner than were made by +ha western railroads. This had some sustaining effect on stock.
 Bonds were firm. Total sales par value, ss50 0ooo. United States bonds unchanged on call.