The Birmingham age-herald., 1910-11-16
PRICES SUSTAINED
 IN STOCK MARKET Tn Spite of Selling Some Ad-
 vances Are Made
MONEY MARKET BETTER
Pacific and United states Steel But Few Other Stocks
 Show Declines

New York, November 15.-There was much. curious conjecture about the stock exchange today as to the source of the aggressive operations which were re- sponsible for the principal movements of the day. This conjecture took the place of the usual inquiry over underlying fac tors in the conditions of affairs and such substantial motives The surmises were founded on authentic information on which 10 go but they pointed for the most part to foreign participation in the market, possibly countenanced and informed by private banking interests of power aud authority in New York. It was current ly believed that the resources embarked in the largest of the days transactions were found in Paris. Yesterdays ru- raors that the listing of Union Pacific in Paris was near to accomplishment were denied, but the speculation still centered largely in that stock and in United States Steel. The manner of execution of orders in Union Pacific was made the subject of criticism among brokers, ow- ing to it's appearance of manipulation The high opening price was not exceeded and the subsequent sag in the stock and the unresponsiveness of the general list to the advancing tendency aroused the distrust which prompted selling.
 The three leaders were bid up again in the final dealings, in face of the con- tinued indifference of the list.
 Contributory causes of the restraint on the upward movement were found in the poor earnings reported yesterday by the Great Northern for October. That stock, in consequence, was under pres sure and dragged other transcontinental railroad stocks downward with it. Ca ! rsodian Pacific suffered from the disap- pointment of speculative hopes of an extra disbursement. the stock \reacting sharply on the declaration of only the regular dividend. The assembling of the British parliament and expectation of an early dissolution for a general election proved an unsettling influence on the trade market. The heaviness of stocks threw discredit on the alleged buying for London account in the local stock mar ket and laid it open to suspicion of other origin
 The money position showed evident i'm provement and supplied the most sub stantial basis for higher prices of stocks. The issuance of the controllers call on the national banks seemed to release funds which had been held back appar- ently In preparation TOT the report Ol condition. Related currency shipments held up by the express strike also helped to swell local banking cash. The Bank of England was enriched by the receipt of s5,O00,0o0 gold from Brazil, but with out effect on the London discount rate, { which held steady. The foreign trade statement for October was received with qualification in financial quarters. an in- dication of the recent abnormal tenden- cies in that department. The value of exports rose to record figure for any month at $20s, ,7S5, and while the de- cline in imports from last year was slight the SS4,1S0,337 excess value of ex- ports established so substantial volume of credits for the New York exchange market as to afford great assistance to the working out of the money problem. This showing confirmed the confidence that the period of greatest strain on the New York money market for the present season might be supposed to have passed. This confidence had more in- fluence in sustaining prices than anything else in the days news.
 Bonds were easy. Total sales, par value, $2,O6s,00O
 United States 4s registered declined 4 nor cent on call.