The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-03-27
DL|DAY WEEK IN
\ THE STOCK MARKET
Trading Has Been Restricted
and Prices Lower
OUTLOOK IS VERY GOOD
Good Spring Weather, Letting Up of
Labor Troubles and Good Busi-
ness General Presase Better
Conditions in Markets
OUTLOOK Is VERY GOOD
BY RALPH EMERSON


New York, March 6.-(special) -This
was holiday week in the stock market
and the typical holiday impressions pre-
vailed with declines, dizziness and tenn
porary reactions. With no session either
\ yesterday or today brokers sold out their
Speculative holdings on Thursday, not
caring for three days wait until Mon
day in which time Oppressive influences
might develop. The money market is in
sympathy with the stock market quiet
ness. On the interior currency movement
there was gain on balance amounting
TO 81, 900 but on operations with the
sub-treasury the banks paid out on ball
ance s3,155,OoO. New York shipped direct
to interior banks ss,155,OOO in currency.
There was general wave of more
favorable weather this week, which seems
10 presage the end of winter storms-a
condition most optimistcally viewed by
Industries and railroads. The strike situa-
ton is now much brighter with the west
ern railroad troubles and the general
Philadelphia strike now practically ended.
With the exception of the possible labor
troubles in the bituminous coal fields, the
4 situation is 100 per cent brighter than it
was this time a week ago.
Beginning next week Industrial corpora
tons will pay out nearly $3.50, 100000 in
dividends and interest On wednesday
ssthe United States Steel corporation will
pay out $s,750,000 in dividends, represent
ing the IL per cent recently declared
upon the common shares. Outside of the
Standard Oil company this represents the
largest quarterly dividend ever paid out
by an industrial or railroad corporation.
The feature of the bond market is the
Increasing demand abroad for railroad
and industrial bonds. For time brokers
were unable to account for the steady
sale of American shares in London until
the foreign bond buying commenced. 1t
is evident that many English investors
are transferring their accounts from
stocks to bonds. The only reason I can
attribute for this is the prevailing dull
mes of the stock market and few fiuc-
tuating dividend. The outlook is cheer
full for a time at least. 1t is etimated
that, during the month of April industrial
corporations and railroads will disburse
$3.50, 900. The dividend payments alone
amount to s1000o0.0oo This is a large in
crease over last April
The directors of the Norfolk and West
dividend is deferred then it will be de-
clared III the summer.
The Atchison, Topeka and Santa Fe is
planning a s4O,00Ooo0 bond issue of con-
vertible As.
The Western Maryland Railway COM
spany plans to. raise s25,000,000 by stock
kssue which will be offered to the stock
holders at $50 per shxre, according to a
statement from President Benjamin Bush.
This is for an immediate extension of
the road.
1t is pretty generally believed that Ed
win Hawley will not control Hooking VAL
ley very long before the common divi-
depd will be increased Such action,
however, will likely be deferred until the
x50O0,OO0 preferred stock is retired. At
the present time the s15,000,0O0 preferred
shares equally with the s11, 100000 COM
mon. The present outlook Is for 5
per cent dividend. -.....
Reading made a better showing than
most any of the eastern railroad
stocks Reading draws one-fifth OF its
gross from its anthracite holdings.
While a. per cent OF the coal it owns
is unmined it furnishes one-seventh OF
the amount consumed.
There were two developments in the
copper situation within the past week.
the first being the action OF the Ana
conda Mining company in increasing.
shares and the second was the return
of Daniel Guggenheim to this country
The increase by the Anaconda was an
ether step toward the copper merger.
|hk this preliminary deal all of the
! subsidiaries of the Amalgamated Cop
per company are to be united. The
Anal gamated company owns and con-
trolls 10 underlying companies and by
this weeks deal gets three-fourths of
the holdings of Anaconda.
w. g. Thompson, member of a
brokerage house dealing largely in
Hopper, returned this week from a six
weeks tour of inspection through Mon
tana, Colorado, Arizona, Utah. Mexico
and Nevada. He tells me that the
western copper camps are scenes OF
great activity. Ills impressions were
extremely optimistic and he declares
that the future holds much In store.
In the Birmingham, Gary, Pittsburg
and Youngstown centers the steel trade
is booming.
The Republic Iron and Steel company