The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-06-15
FEW CHANGES MADE
IN STOCK MARKET
Very Little Incentive Is Given
For Active Trading
RAILROADS COMPLAIN
RAILROADS
The Persistence of the Statements By
Railroad officials That Rate Adj
vances Must Be Made Are
Causes for Weakness

New York, June 1.-THE movement of
prices in the stock market today was
hardly more than a drift. The board
room traders, with their utmost vigilance,
were able to find but shaky material on
which to base operations Their own
transactions were responsible for the
sluggish price movement, and when they
found that these were not giving any re
suits they reversed their operations. A
slow upward movement dragged itself out
and then yielded on a diminishing scale
of dealings under this process.
Some attempt was made to bring in the
pending passage of the railroad bill as
an influence in the trading. The morning
advance was accompanied by professions
of satisfaction. on the part of the board
room element over the approaching end
OF the struggle and by expressed hopes
that public agitation of measures against
the railroads would quiet down after
ward.
On the part of the railroads themselves
however, there was an announcement
through accredited agents of publicity
Indicating a persistence in a policy of
complaint over legislative conditions and
the rate readjustment with the govern
ment authorities. This appeared in the
claims of the necessity for further rate
advances in order to enlist the needed
capital for the conduct of their business.
From this it was inferred that the hear
ings before the interstate commerce COM
mission on the proposed rate increases
are to be accompanied by further pro-
fain of rarp mi
earnings to attract capital.
This plan for offsetting the objections
q, shippers, which are expected to be
protested also to the commission, Is not
regarded as calculated to make more at
fractive the securities of the railroad
companies which are pleading poverty in
that way.
Reports were circulated today of re-
frenchement orders said to have been
made by Northern Pacific officials at the
time of the rate injunction and not re-
scinded. The weekly bulletin of the
weather bureau reported unfavorable
crop weather over most Of the county,
and the cotton market was Influenced by
similar reports today.
An extra dividend of per cent de-
clared by the Central railroad of New
Jersey following a similar declaration in
December gave rise to efforts to fix
regular periodicity for these extra dis
bursements.
A per cent yearly dividend was de-
clared also on Mobile and Ohio, conf
pared with only 21a per cent in 1902
u-nese announcements were without intiu-
ence on the general tone of the market
The official confirmation of the Southern
Pacific bond sale in Germany following
nv more than a week the Associated
Press report from Berlin was ignored.
A slightly firmer tone In the call loan
market was connected, possibly, with
the call on Atcnison convertible bond I'M
derwriters for payment of 25 per cent of
their subscriptions. The London money
market is looking forward to period
of pronounced ease after the require
ments for the July settlement are met,
and the half yearly disbursements come
back into the market.
The foreign exchange market was lower
today.
Bonds were steady; total sales, par val
ue. $1,000. 900.
United States bonds were unchanged
on call today.