The Birmingham age-herald., 1911-08-12
OPENING bR|SKLY
 STOCKS FALL BACK
After Opening Stock Mar.
 ket Is Halted for Greater Part of Session

Nav York August 11.-Following spir- tted opening in which prices of num- her of issues advanced a full point, with q gain of 1% for Canadian Pacific, to- days stock market fell back and halted Tor the greater part of the session. while its devotees discussed various matters bearing more or less remotely on the financial situation.
 The street chose for it's favorite topic the retirement of Prick from the Harri- man boards, and saw fit to draw many differences from that event, none of which was especially bulish. In fact, it clear ly inclined toward the belief that the gap left by MT. Prick is not only large, but that it was probably impelled by com bination of circumstances which has cropped up in the past decade, and has recently been renewed with increased vigor. In the minds of the speculative community, MT. Tricks withdrawal rom Union Pacific and allied properties also help, in no small degree, to explain the recent heavy offerings at marked reces- siops of Hartman issues and other stocks of the same class. MT. Tricks intention ,o retire was known to many of his as- sociates for several weeks. and this knowledge probably percolated to outside sources which saw in the act logical reason for selling the market.
 The efforts of this faction were suc- cessful chiefly because the so-called bull account reared in the early months of the year had become stale after abortive at- tempts had been made to lift the list from level already too high.
 Other matters which had depressing influence included advices from the west that Illinois Central officials. following the lead of the Union Pacific-S Southern Pacific lines, have declined to engage in further conferences with their employees over the wage question and cables from Liverpool stating that the strike situation there had assumed alarming proportions.
 After period of arrested development, the market once more sold off in the last hour under the lead of Union Pacific, which was almost the weakest issue throughout. That stock made a new low record, as did also Reading, Great North ern preferred, Great Northern Ore, St. Paul, Baltimore and Ohio, Louisville and Nashville, Atlantic Coast Line Atchison, American Smelling and Western Union.
 Of the other active shares, practically all touched yesterdays low prices. The closing was active and extremely weak.
 Figures bearing significantly on our foreign trade were disclosed in the of ficial statement of the countrys eX ports of manufactured steel and iron in the last fiscal year. They show n gain of almost SAT 100000 over the best previous year, the total valuation of shipments to foreign countries approx imating s231, 100000 with a concur rent decline of over $4,000,000 in i'm ports of this class of merchandise.
 Earnings of 35 additional roads for June show a decrease of almost S1,- 700,O00 in gross, which was cut to a not decrease of $500, 000,0 by reduc- ing operating expenses
 Little interest was shown in the fore casts of the weeks money movements, which point to a gain by local banks of between $3,500,000 and 5000, 900.
 London was a large purchaser here, but its opera tions had no effect in hold ing values.
 Bonds steady. Total sales, par value. $1,S95, ,000.
 United States government bonds were unchanged on call.