The Birmingham age-herald., 1911-03-09
STOCK MARKET
 IS UNSETTLED Uncertain Mexican Situa- tiOn Lowers Prices DIVIDEND IS LOWER
New York Central to Declare Per Cent Diyidend-Bankers Inter- ested in Mexico Are
 Not Uneasy

New York, March S-Uncertainty as to the situation in Mexico, declaration of dividend on New York Central q. rate lower than that of the previous quarters and the sunfavorable showing = the copper producers monthly re- s,ort all served to unsettle the stock mar ket today and prices declined.
 The only relief from the monotony of an unusually dull day was offered by a period of activity following the an- nouncement that the New York Central dividend for the quarter would be at a rate of 5 per cent instead of the pre- vious per cent.
 The market, which had been heavy from the opening, sold off on the news, ;. although some railroad stocks lost more on the decline than did New York Central itself. Lehigh Valley dropped 2 points and most of the other active railroad issues a point or more. Then came rally, followed by further weakness, and at the end of the day the list was not far from the low point
 The effect of the days unfavorab1e news was offset by the fact that it had been anticipated largely in the decline in stocks mostly affected The large n-, crease in the supply of copper had been forecasted, and the total consumption. which was reported as virtually the same as last month. was better than had been expected. Although reduction of New sYork Centrals dividend was something of a surprise, in view of the financing which is contemplated by the company, 1t has been known. for some time that the decreased earnings of the road had caused the directors to give serious consideration to the amount to be paid.
 Overnight advices from Washington and elsewlere shed little light on conditions In Mexico. Bankers having interests in Mexico were in conference today with representatives of that republic, and with one accord they declared that the most amicable relations exist between Washington and the City of Mexico. Shares of the National Railways of Mex leo were weak.
 The fertilizer shares were almost the largest losers of any and the decline in these issues was explained as being due to the dissolution of a pool which has been active in that group for some time. Bear traders attacked the Gould stocks when it was reported that another offer of the presidency of the Missouri Pacific had been declined and succeeded in fore
  cific and in Wabash preferred.
 Reports of 1910 of two large industrial corporations, the American Sugar Re- lining company and the American Tobac- co company, presented striking contrasts. The profits from operations of the sugar company were reduced by more than half. An indication of the tobacco com panys prosperity may be found in the statement that the profit and loss sur plus at the end of the year was $61, ,119, Ill, as compared with @s42, 499, coo att the. end of the previous year. a
 Some encouragement as to the pros- poets of prices insthe commodities mar ket was derived from the government re- port of grains on hand March 1, show ing increases in wheat, corn and oats over the stocks at the same. time last year.
 The bond market was irregular. Total sales, par value, g, 442, 900. United States bonds were unchanged on call.