The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-05-11
LESS ACTIVITY IN
THE STOCK MARKET
Price Movement Is Hating and
Very Irregular
SENTIMENT Is MIXED
News From London Is Favorable Yet
There Remains an Uncertainty
Concerning the Future of
Certain Stocks

New York, May 10-The marked shrink
age in activity constituted the principal
feature in the stock market today, during
which price movements were hating and
irregular The late bulge in prices was
coincident with decline in wheat.
The most plausible explanation OF the
change in the early appearance OF the
market was that supporting measures
which were adopted yesterday and Sat
urday to guard the depressing effect of
the death of the English King were de-
sisted from. In London 1t shows that the
support of the market yesterday partook,
in some measure, of a patriotic Demon
stration of the confidence in the new SOW
ereign. These measures of support hav
ing served their purpose, there was the
customary inclination on the part of
buyers to dispose of the holdings ac-
CURED simply with the purpose of oppos-
ing a decline in prices. There was less
confidence professed in the duration of
truce between political parties in Eng
land in the constitutional struggle going
on amongst the British nation.
Immediate influences from the London
market remained favorable to values to-
day. There was a further easing of the
private discount rate and revived dis
cussion of prospects for a reduction in the
official and revised discount rate of the
Bank of England. The stock market set
Element revealed in its preliminares an
easier rate for carrying over Americans.
The rubber share section of that market
continued somewhat disturbed. The Brit
ish trade returns showing an increase for
April of $4,000. 900 in the value of rubber
imports over April of year ago was
pointed to as evidence of the material
foundations on which Londons rubber
speculation is based. The records of
American imports show similarly striking
growth in value of rubber imports for
which the enormous expansion in automo-
bile manufacture is held responsible.
The movements amongst the granger
railroad stocks reflected some divergence
of sentiment over prospects for different
classes of the wheat cr->~ Railroads
through the winter wheat sections con-
tinued somewhat backward, while the
spring wheat grangers developed a strik-
ing upward movement in the latter part
of the day
The weekly bulletin of the weather bu-
reau did not encourage hopes of rapid
progress in winter wheat from the unfav-
orable weather conditions. The weather
In the cotton sections also was not what
was desired.
The market for copper metals made a
show of strength. both in London and in
New York, and there were reports of
some large sales effected here. 49,.
The copper industrials responded with
a rise in prices that proved a sustaining
influence on the general list United
States Steel did not share in the benefit
, OF this movement the dealings in that
stock being at prices lower than yester-
days closing for most of the day.
There was a fresh crop of rumors or
dividend increases and a revival of old
ones touching Brooklyn Transit, Chesa-
peake and Ohio and Louisville and Nash
Vile prospects. Details were still lack
ing of sales abroad of American bonds
except for the general announcement of
the placing of a large part of the Ba1ti-
more and Ohio note issue In foreign mar
kets. st. Paul showed the bad effect of
this lack of information. and was the
victim Of disparaging reports of the high
yield which had to be allowed on its
bonds to sell them in Paris
Bonds were firmer. Total sales par
value. s2,11S000. United States bonds were
unchanged on call.