The Birmingham age-herald., 1911-11-25
LONE IF MARKET
 LACKED=BU0YANCY
Bulls Are Unable to Muster Same Degree of Force.
 Opening Irregular

New York. November 24-With no new influences of importance to affect the course of the securities market, quota tions followed no well defined trend to- day. The opening was hestating and ir- regular. For time prices rose with some show of vigor.
 The bulls were unable to muster the same degree of force as during yester- days demonstration and the tone of the market lacked buoyancy. Before the day 1 was far advanced the list wavered and then began to fall back During the fremainder of the session the tone was heavy. The early gains were eliminated and prices fell generally below the pres cding days close. Union Pacific and United States Steel rose to the Highest prices of the present movement during the early rise, but at the close stood a. point or so. below yesterdays final ouo- tations.
 The varying course of prices apparently was largely the reflectiong of the varying temper of speculation. Buying was wig orous early in the day and a number of the southern and western railroad stocks as well as some of the industrials. rose from to points. The recession was due in part to profit taking sales Tn the last half of the day there was a per- ceptible slackening of demand for stocks in which vigorous buying recently had been effective in bringing about sharp advances. The change led to some short selling and toward the end there was fevere pressure on some of the leading Speculative issues
 Local traction securities were again prominent Third avenue fell 2gs to 4, the lowest price at which it has ever sold, many stockholders having thrown their holdings on the market on account of the assessment of s45 a share under the reorganization plan. Owing to a belief that the action of the courts in the Third avenue reorganization case. would facilitate rehabilitation of the Metropoli- tan Street Railway company there was increased activity in those securities. The per cent bonds rose points and the 5's gained 4. Interborough common and pre- ferred lost heavily. Trading was begun today in the new Third avenue securities,
 "hSh isSueu, tHt 4 per CeHl DOnQS Sell ing at sS4@s41a, the 5's at 11ga721a and the stock at 33934.
 Expectations Of a poor showing in to- morrow's bank statement contributed to ithe growth of bearish sentiment. Largely on account of the export movement of }gold 1t is expected that the banks will report a considerable loss in cash Known movements of currency suggest loss in the neighborhood of $S,000,oOo. As the aee.sal surplus reserve at the close of week was only slo,40O,0oo, loss of
 lze indicated would almost eliminate F he movement of gold out of New 9esif continued today, $S00,00O being for afafdad to San Francisco. n The money AtsF'fet showed no reflection of this con A'eas and rates held steady. Bank ex-
 IS this week at the leading centers 4na1 3 favorable showing, with consfd- sahle advances over 1910 and 1909. 1 Fhe copper shares showed the effects rift taking today and did not re- ffe p reports of sales of the metal at Alfs highest price touched on the present movement.
 Bonds were active and irregular. Some of the low priced speculative issued moved widely. Total sales par value, $5.O5s. ooo United States bonds were unchanged on call.