The Birmingham age-herald., 1911-01-07
TRADING IN STOCKS AGAIN VERY SLACK Prices Show Some Gains in Spite of Dullness
  sEl iT1MENT IS MIXED
Than Sellers and Investors Are Accommodating Both Stocks
 and Bonds

New York, January 6.-Further contrac- tion of operations was the most striking feature of the stock market today. Trad ing was almost the dullest of the week, and while prices in the active group showed some gains at the close the un- dertone was at times sluggish and uncer- tain. Activity in Canadian. Pacific and allied issues at advancing prices was con- spicuous but transactions in those stocks failed to stimulate any demand else where. E Sentiment among the traders was rather mixed, but commitments for the long ac- count clearly outbalance those for the de- cline just now. There has been a mod crate accumulation of stocks by investors and a continued demand for bonds.
 The London markets were somewhat depressed because of the rising discounts and further gold exports, $600.0O0 being withdrawn today for shipment to some 'undisclosed point on the continent. Such strength as American securities displayed in London today was largely due to sup port from this center.
 Sales of stocks here for British account
 
 Steel Yesterdays adverse showing of the Bank of England. according to the opinion here, Is likely to defer any re- duction in its discount indefinitely.
 Developments at home had little bear ing. Rumors that the Hill interests were negotiating for the control of the Vest ern Pacific received no confirmation, and reports that the St. Louis and San Fran cisco system contemplates extending its lines to the Pacific coast were promptly denied. Of the new railroad returns sub mitted. that of the Missouri Pacific was the most important, showing decrase of net for November of ss5O.OOO. and a total decrease for the five months ending No- vember 30 of s1.e75,OO0. Little interest seemed to attach to the report of the in- terstate commerce commission scoring the Pennsylvania railroad for It's unfair dis trfbution of cars at various coal mining centers
 The closing of two banking institutions at remote points-Fairbanks Alaska, and Tampa. Fla.-was not accepted as sym pathetic of existing banking conditions, which from all official and other accounts are in the way of steady improvement.
 
 . cost approximating A,0o0,O00, and that the Pennsylvania line has invested bids for 1000 freight cars was regarded as the possible forerunner of a general buying movement by the larger trans- portation companies and exercised some of the equipment shares. While 1t Is generally agreed that next weeks confer 'ence of the leading manufacturers in this city will not affect prices the out come is awaited with lively interest.
 Increasing ease was shown today in the local monetary situation, call loans going to the lowest rate of the week on lin1- ited inquiry. All available data points to- a big cash gain, by the banks tomor- row. with much divergence of opinion concerning the loan account.
 The most prominent feature of the bond market, which was generally firm and broad, was the strength of American To- b4cco issues. Total sales. par value, N,- 02S,000
 United States bonds unchanged on call.