The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-02-16
lDULLNESS RULES
I. IN STOCK MARKET
Outsiders Appear to Have No
Interest in Trading
WAITING FOR DECISION
Brokers and the General Public Are
Waiting TO See What the SUI
preme Court Is Going to Do
With the Big Trust Cases

New York, February 15.-The stock
rket gave additional evidence today of
sinking into dizziness and apathy. The
professional element strained all It's re-
ssources TO keep up the movement or
Sprices, but the withdrawal of outside par
tcipation in the dealings added to the diff
Efculty of the attempt. The situation is
Summed in the fact that urgent liquida-
s'tion has ceased to press upon the market
while no disposition makes itself manifest
TO accumulate stock with sufficient de-
termination TO carry prices upward and
hold them there. The desire to see the
definition of the scope of the Sherman
antitrust law which shall emanate from
the supreme court decision in the Amer
lean Tobacco and Standard Oil cases is
the accepted motive for refraining from
large commitments in the market on the
part of the capitalists of the class which
makes the great speculative movements.
The reassembling of the supreme court
at Washington next week after a three
weeks recess is expected to revive, the
influence of a weekly watching for de-
cision in the American Tobacco case. A
decision is not looked for, however, until
the Standard Oil case has been submitted
also for judgment
The repressive effect of a period of sus-
pense may decrease before it is ended, but
for the present the influence is felt.
Besides that influence there is normal
subsistence to resting point in the mar
ket after the wider fluctuations of the ac-
tive speculation which followed the inn
portant liquidation since the first of the
present year. From the low prices of
Monday of last week, marking the culmin-'
alton of that liquidation, the rebound has
been substantial, reaching to II points in
Reading, which led these recoverles. Eff
forts to extend the recovery conferred on
that stock today The professional oper-
ators who were conducting the movement
found insufficient demand to absorb profit
taking sales and took warning from this
fact of the limitation of the market Find
ing themselves almost alone in the buying
of stocks they dessted and allowed the
dealings to lapse into condition of semi
stagnation.
The legal aspect of Corporation affairs
was brought to attention by other incl
dents than thesapproa ching supreme court
decision in the American Tobacco case.
The fling of the brief by the Reading
counsel In the government suit for disso-
luton of the anthracite combine and the
beginning of testimony again in the Union
Pacific merger suit were reminders of
\ other litigation coming up from lower
courts which must be followed with inter-
est by stockholders to its conclusion.
Foreign influences were not definitely in
favor of advancing prices. 80
The assembling of the new British par
lament brings into play the influence of
the new political influence to be formu-
lated. A rise in the private discount rate
In Berlin and the prospect of heavy loan
issues in Paris in the rehabilitation of the
flood damage had some reflected influence
here from foreign markets. More atten-
ton was paid to these on account of the
hope that is growing up of an i'm
proved demand for American corporation
bonds on the part of foreigners. Such a
demand will be an important contribution
to the capital needs of enterprises in con-
temptation in this country. Spectators
were disappointed that the Canadian Pa
cic dividend was not raised, and there
was a sharp break in that stock in Lon
DON
The diminishing force OF he current of
the price movement was seen in the hest
tating uncertainty of the narrowing nue.
uations.
Bonds were steady. Total sales, par
value, 81. $4,000.
United States bonds were unchanged on
call