The Birmingham age-herald., 1910-09-14
STOCKS ADVANCE
 ON ELECTION NEWS Buying Movement Lively and
 Prices Go Up SHORTS ARE UNEASY
Island Shares Are Noticeable in the Decline of the Harri-
 man Stocks

New York, September 13.-The election in Maine was the principal news event which the stock speculation had to digest today. The fact that prices advanced on reciept of news led to the inference that the result, had no dspleasing in fluence on holders of securities.
 The professional traders, following stock market traditions, started the day with offerings of stocks but they met so considerable and so effective a demand that they turned quickly to the other side of the market. The buying move ment which followed gave the market more show of animation than for several days past.
 The Maine election was construed as a symptom of disorganization of the politi- cal forces moving for control and re- striction of corporation powers. This construction followed, rather than pre- ceded, the upward movement of prices
 Observers on the floor of the stock exchange professed to see the source of much of the demand in an uncovered short interest which has counted on the unsettling influence of politics as de- pressing factor.
 The apathy of the stock market to the Vsrmont election last week and the fail ure of bear testing operations at the opening today caused uneasiness among shorts and prompted the covering move ment. Politics as a disturbing element seemed to have been demonstrated to be unreliable.
 Some after effects of yesterdays an nouncement of the transaction in Rock Island preferred were traceable in the days movement. The recent good ab- sorption and the decline of the Harri- man stocks was carried in retrospect with the Rock Island deal which was expected to release large resources to the bank CTS more closely related to those prop critics. The movement of other special stocks was watched for the supposed light it might throw on the market posi- tion of great financial powers or groups United States Steel Reading and Union Pacific continued to absorb nearly two thirds of the aggregate dealings and were of overwhelming sympathetic effect on the whole list.
 The homeg coming from Europe of va- rious persons often active in speculative operations had it's part in stirring inter- est in the dealings The banking posi- ton offers no immediate obstacle to maintainance of stock values. The de- mands on the New York banks for cash are moderate and the incoming reports of national banks condition of September are regarding as showing a satisfactory condition.
 The decline in the London discount is not followed by the exchange market here, thea easier tendency of the local money market having it's influence.
 August's s9.5O0,0O0 increase in value of agricultural exports over last year makes for betterment of the exchange position and shows that the August corner in the cotton market stimulated rather than hampered the outgo of that commodity The rapid movement of grain to market is expected to furnish another source of supply to the exchange market in the immediate future.
 Predictions of frost damage to corn again failed of confirmation and crop news was favorable to values.
 The price of copper declined in Lon- don and copper securities were laggards in the days advance here. A helpful in- fluence was the belief that the railroads were strengthening their contention for rate advances by the Natter arguments in the interstate commerce commissions S hearing.
 Bonds were firm; total sales par value, s2,O92.00o.
 United States bonds were unchanged on call