The Birmingham age-herald., 1911-03-18
STOCK MARKET r EXTREMELY DULL Trade Movement Is Almost
 Imperceptible PARIS LOAN FLOATED American Credit Shows Foreign Strength By Lake Shore Loan
 of sl2,O0O,0O0 From the
 Paris B0urse
PARIS LOAN FLOATED

New York, March 17.--Practically all records for dullness thus far this year on the stock exchange were broken to- day. Trading fell to the point where if ceased to have any interest. even for the ultra professional element and the movement was almost impercep- tible except toward the close when prices were lowered generally.
 There We're no overnight develop ments to account for today's extreme inertia, although such news that came to hand was rather in the way of bet terment The latest phase of the Mex ican situation seems to warrant tho belief that an understanding exists be- tween this country and the republic to the south.
 Another event of no small import ance was the announcement that the Paris bourse had finally decided to ac- cept American securities on equal terms with home issues.
 Flotation of a $12,000,000 Lake Shore loan in Paris, the first extensive trans action of the kind to be negotiated abroad since the rendition of the ln- terstate commerce commissions ruling against the higher freight rate sched- ules was reassuring evidence that American credit had been in no way impaired In foreign lands.
 In the calendar of adverse factors may be placed the dismissal of large force of men by the Chicago and Al ton railroad and the shutting down Of rubber factories in Rhode Island. Whether these incidents will find re- fection later In unrest on the part of labor remains to be seen, but such an outcome would occasion little surprise in financial circles where the belief obtains that labor must undergo its share of liquidation in common with other factors bearing upon the general Neconomic situation. In this condition the revival of labor troubles among the large express companies here is cited as a case in point.
 Latest returns from the comptroller of currency under his recent call dis close some interesting facts dealing with the national banks of this and other important center-. Loans and dis counts of local institutions are larger by more than $40,000,000 than at this period of last year and $107,OO0,00U greater than in the early part of the current year. On the other hand cash holding of these banks are greater by $57,O00. coo than in January last and net profits have increased by almost $14,000,000. The percentage of reserves by local banks is now 27.30 against 26.51 In January and 25.76 in March of last year. Of the other large re- serve centers thus far reported St. Louis alone shows an appreciable in- crease in reserves, Pittsburg, Cincin- natl, Cleveland, St. Paul and Kansas City falling below their percentages of last year.
 Outflow of cash continued this week but estimates suggest a trifling loss. Demand for money was again so light today as to make the market negli- gible. Missouri Pacific weakness of re- cent days was emphasized by fur ther al op today of aoout 2 points. Northern Pacific, Louisville and Nash vile, Amalgamated Copper and Amer ican Sugar declined a point or more on the same movement The close was at the days lowest prices.
 Bonds were irregular except Central of Georgia issues, the third incomes advancing almost points.
 Total sales, par value, $2.912,000.
 United States bonds were unchanged on call.