The Birmingham age-herald., 1912-04-12
|ESS ACTIVITY IN
 CANADIAN PAC|F FIC one of the Standard Rail- way Shares Were De-
 cidedly Strong

New York, April 11.-Price movements
 ere uneaulyocally conflicting in today s
 lock market, this feature conducting to
 bore or less regularity during the greater
 art of the session. Some of the standard
 hilway shares. notably Reading and New
 fork Central, were decidedly strong, with
 ven greater gains though less activity,
 the Canadian group was apparent.
 Canadian Pacific rose over , points here blowing it's advance of points in Lon
 on. where most Americans appeared to
 e in demand The movement in the
 ,anadians enlisted little public support
 ere Railroads were strong abroad. In
 his market probably in connection "ilh | he statement of a leading official ol ine oad which gave some countenanee " unors of a traffic alliance with Canaolan Pacific, things were set agog.
 Lehigh Valley and Pennsylvania were bnder pressure, which made Reading rise | a. new high level for the present move |nent more appreciable. It was the more Irreeoncilable. The result of the anthra- lite conference is still in doubt. The con- kiliatory attitude offers hope of an am- |cable solution.
 Atchison, St. Paul and New York, New Haven and Hartford manifested declining tendencies, the heaviness of the last named being ascribed to the message of the governor of Massachusetts, which ad- located control of that road, and Boston hnd Maine, a subsidiary. through the medium of public service control. Rock |sIand and some of the southern rail May shares took part in the rise of the transportation securities. Their activity Tor reasons not particularly clear was re- karded as a move designed to cover liqui- dation elsewhere.
 In the industrial division the weakest Feature was Colorado Fuel, but gains were the rule, albeit they were largely confined to the more inactive issues, such hs American Can, American Linseed com mon and preferred, Union Bag and Paper, American Beet Sugar and Quicksilver Min ing, these advancing from 1 to points. The coppers, which moved sluggishly in the early part of the session, later be- came more prominent, with new high record for Chino. United States Steel moved within a 1 point range, it's course ider1oting bear pressure. Some further insight into the condition of the steel industry was furnished by the report Of the Lackawanna Steel company, an inn portant independent concern, for the quarter ended March 30 last. Its income for that period, after the usual deduc- tions, decreased over $500,0OO, with a deficit of $125,000.
 The market became dull in the early afternoon, but in the last hour there was renewal of activity to the accompani- ment of marked declines. Weakness was most pronounced in the active issues, all of which went below yesterdays close. The movement later took in a number of less important stocks, including Mis- souri Pacific, National Lead and other securities recently subjected to pool In the final dealings there were fractional reeoveries, but the clos ing was heavy and dull.
 Europe, and especially London, was a buyer of Fries here, the extent of the p,frchases being estimated at over 25,0O0 shares The statement of the Bank of England was favorable in that it showed gain in it's proportion of reserves to liabilities, and an increase in total re- serves, with a nominal gain in it's gold holdings The chief feature of the state ment of the Bank of France was it's huge in discounts-over $60.000,0 900.
 Call money touched per cent again to- day. but demand was light. Time rates were practically unchanged, with some increase in offerings of commercial paper.
 Bonds were irregular, with a declining tendency Total sales par value, amount ed to So, ,2S2,000.
 Government bonds unchanged on call.