The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-06-10
SMALL GAINS MADE
IN STOCK MARKET
Dealings in Stocks Restricted
to Narrow Limits
TRADE Is UNSETTLED
couragement Which Keeps Senti-
ment Bearish In Spite of
Favorable Factors

New York, June 9.-There was fur
dealings in stocks today and some re-
naming uncertainty in the tone of spec
ulation, although on narrowing range
of fluctuations.
The relations of the railroads to the
control exercised by the government held
its prominence as subject of influence
and sentiment was unsettled still over this
direction of that influence.
The signs of design on the part OF
some of the railroad Authorities to main
tain an attitude of encouragement over
the situation had deterrent effect on
the buying of stocks, even while suspi-
cions were entertained that restraint on
the price movement. was the purpose
sought The probable period required
by the interstate commerce commission
for the consideration of the proposed rate
advances was canvassed with some and
the progress of the railroad bill through
the conference stage was awaited with
interest. especially the proposed restora-
ton of supervision of capital issues.
The movement of st. Paul was watched
with close attention on account of sup
position that the policy Of restraint on
the market had centered It's operations
I'm that stock. The recent heavy selling
of the stock has aroused much conjec-
ture over Its source and varying surmises
over the identity of the seller made up
one of the features of the days mar,
l. IF Do n
at the outset of the trading had consid-
cradle sentimental effect on the whole
list and its rebound had the effect of
relieving the heaviness of the general
list.
The copper industries were affected both
here and abroad by the increase in sur
plus stocks of the metal during May re-
ported yesterday by the Coppers Produ-
GERS association and this constituted an
other influence In the early depression.
So did the reported inclusion in the agree
raent to postpone rate increases of the
intended advance in suburban passenger
rates out of New York
These influences. at first, overbalanced
that of the reduction in the Bank of
England official discount rate. which had
the effect of reviving the London buying
of stocks In this market The items
OF the banks weekly statement showed
clearly the definite passing of the influ-
ence of the tax collections and the neces-
sity forced upon central institution of
erecting some distribution to the mar
ket of these heavy Accommodations by
purchases of treasury bills. The Bank of
France and the Imperial Bank of Ger
many at the same time made strong
weekly returns, pointing to a probable
/. period of decided ease in foreign money
markets. Money conditions in New York
also tend toward ease, in spite of some
preparation by banks for the, expected
call for statement of condition from the
center of the country. The upward course
OF United States Steel helped to lift prices
during the day, that stock showing at
one time a recovery of a fraction more
than the quarterly dividend which came
off the price. The close of the day
, showed fractional gains in majority
of cases. the realizing movement at the
last rejecting the persisting uncertainty
Bonds were irregular. Total sales. par
value, $1,64,000.