The Birmingham age-herald., 1911-03-22
STOCKS BECOME DEPRESSED AGAIN considerable Realizing Re- suits From Accepting
 of Profits

New York March 21.-In view of the narrowness of the stock market of re- cent weeks which has forbidden expec- tations of wide movements so long as nothing occurs to disturb the present euuilibrium, traders were content today 10 accept profits accruing from the ad- vance of Saturday and yesterday. There was considera ble realizing in consequence and the market was hesitating and at times depressed in contrast to the strong undertone of yesterday after the an nouncement of further delay in the anti trust decisions of the supreme court.
 This condition was accentuated by moro active short selling on the part of spectators who regarded a reaction at this time as natural. The recent ad vance was interrupted effectively in the case of the leading issues, although losses were sma l.
 Traders were bullish in the main, and the temporary defection from the long side could not be ascribed to alteration of the financial. viewpoint. A source of encouragement to the bears, however, was found in the large offerings of stocks on advances, a feature of the market which may be symptomatic of the desire of insiders to reduce their holdings. The bears made much, as well, of stag uant trade conditions and other adverse conditions, such as the Mexican situa- tion and lack of public interest in specu- lation. Apprehension as to the ability of the railroads to maintain their divi- dend rates, however, has been quieted to some extent by the relatively small re- duction of earnings in view of the cir cumstances of the last few months.
 The reorganization of the Missouri Pa cifc board of directors proceeded accord- ing to programme and went far beyond that point, inasmuch as the Rockefeller Kuhn-Loeb interests were given a com manding position in the directorate and executive committee of that road. and were also invited by MT. Gould to posi- tions of power and influence in the Gould properties. This result indicates to such financing as may be needed for purposes of rehabilitation and general improve ment will not be lacking. Missouri Pa cific became weak on annonment of the rnSSS,vef in M hosiii.Tllses .,tiles with any si low low 'yecsyieesr2ment. yesier2,m
 Attempts to continues: dull
 
 in connection with t re Carnegie Trust company were not tf.ken seriously. AL though so far as isJ known no final plans have been made for the issuance by the government of tsne 3 per cent Panama bonds, $10000 of these bonds when is- sued' sold on/the curb today at 102. The price is Traction above the ruling bid price of Outstanding government 3's, which are available as basis for cir culation, whereas the Panama bonds will not6Sbe. The streets appraisal of the value of the forthcoming issue is regard eddas foreshadowng its full success.
 Apart from increased tension in the Russo-Chnese imbroglio, news from abFoad was generally favorable. The set tleinent in London is proceeding without a Mitch, but speculative holdings in An1lerican stocks there are so light to De without influence. There was some exqitement in London over an extensive edWance in pig iron. Coppers were unaf- iesbted save for a slight advance.
 Railroad bonds were irregular. Total saaes. par value, s2,236000.
 United States bonds unchanged on can.