The Birmingham age-herald., 1910-02-02
SMALL ADVANCE IN PRICES OF STOCKS Market Is Neglected for the Greater Part of the Day. WAGE QUESTION FACTOR Some Stocks Lose Several Points in the sluggish Dealings But Near
 the Close Better Turn
 Occurs.
WAGE QUESTION FACTOR

New York. February 1.-Thc generally heavy tone of today's stock market was due to neglect as much as to any ac- tive selling pressure. In a few spots, I however, there was evidence of q fur ther process correction of the imitation brought about by pool manipulation.
 Today's demonstration invaded new neld and brought with it some sugges- ton of measures of resentment against the pushing enterprise of q newer fig ure in the railroad work, if such re- sentiment can be supposed to reside in the minds of the higher finance. The effect on the general level of prices was not very marked but the influence on the speculative tone vas against hope fulness
 The days happenings were interpreted in . contrary sense. The most notable ey- ample of defation was in the Interbof- eugh-Metropolitan stocks. There were na immediate news developments to explain their collapse and it was attributed simp- iy to previous undue expansion. The whole of the local traction group suf- tered in sympathy Third Avenue sold st 10A, the lowest price in it's history, feeling some direct effect from the prep arstions for the foreclosure sale. The additional speculative purgng. the Necessity for which was thus disclosed Aelps to account for the repression of the speouls ton. Conjecture continued busy, nevertheless, with attempts to fathom the more general causes lying t,,c cIr of tI,a ;,, Pt,,, idea that a business recession has set in enters into the discussion. although con crete examples of evidence are few.
 The fall in prices of iron is cited and the eact of some countermanding of equipment orders by the railroads. The agitation of anti-corporation policies is said to have spread Its effect of depres- sion from the stock market into general business to some extent. The complaint is heard that the large stocks of mer- chandise which were laid in from first hands when the revival set in after the depression are moving with some diff culty at the high prices which have been attained in many lines.
 The wage question is a factor which is kept in consideration by the granting og advances here and there by the rail roads and the conference in progress over demands for more general advances. Such showing as the December net earn stpgs report Of Union Pacific and South lHfn Pacific made public today give point to the discussion even though the heavy increase in operatons in cost as shown is due principally to wintry weather con- ditions. Today's report of the growth of the European visible supply of copper ] end the falling off in our December ex- port of the metal had their bearing on opinions concerning the trade outlook.
 More gold was shipped from London to Paris today but Paris was less of an influence with the improvement of flood conditions there London looks for a re- duction in the Bank of England official discount rate in spite of this demand upon the money market. Money worked easier again in New York.
 The failure of the bond market to im- prove with this development makes on of the flaws in the present situation. The difficulty of moving bonds in the hands of syndicate subscribers offered one topic of discussion in connection with the days depression.
 The Pennsylvania dividend was disap- Dointing to a speculative party that had been looking for af increase. Colorado Fuel suffered from a disaster to it's mines. Strength of the Japanese bonds vas the result of the new domestic bonds to be floated for -efunding purposes.
 The final rallyng in prices was the sign ef relief afforded by the days liquida- tion and left a struggling show of small net gains.
 Bonds were easy; total sales, par value, O.sSSO 900.
 United States bonds were unchanged oa call.