The Birmingham age-herald., 1912-04-25
FFN DEVELOPMENTS Ot ANY IMPORTANCE Steel Under Steady Pres sure During Session-N.
 Y.C. Shows Strength

New York Aprn 24-Thel enthusiasm sreendered in the stock market yester- day by the more favorable turn in the threatened railroad strike seemed to ex- haust itself today. The mediators were in session today with the railway man agers and the engineers are to be heard tomorrow. limitations advanced by in- terested parties suggest mutual conces- sions.
 Aside from another advance In certain manufactured products by one of the sub salaries of the United States Steel cor poration there were few developments or importance or even passing interest. he- garding steel and iron conditions, rec ognized trade authority points to the heavy buying of pig iron during the past weel< as n favorable sign, but this is largely neutralized by the admission that rders in the past fortnight nave been elow expectations.
 United States Steel was under steady pressure during today's session and the tpproach of the quarterly dividend meet ing has aroused fresh interest in the statement then to be issued Estimates of earnings for the quarter range from under S20,000,000 to almost $25,00o,000, el- though the latter figures are generally regarded as extravagant. Anything un- der $22,5oo.ooo, it is asserted, will fail to meet dividend requirements on the com mon shares. Union Pacific was another one of the leading stocks to display heavi- ness although belief is general that March earnings of the Hartman system will be favorable. Reading retained it's leadership. but the course of this stock also suggested profit taking. Of all stand ard issues New York Central was strong est, selling at a new high record for the movement. Indeed todays best price was the highest of any since May of 1910. Other Vanderbilt stocks were strong and rumor chose to connect the movement with some important financing of a refunding char acter which is understood to be in con- temptation.
 Mexican Petroleum, whose shares have only recently been listed, ranked with the leaders in point of activity, but it's source of strength was not clearly de- fined. There were advances in many issues of relative unimportance, and in this respect the days business was un- usual. American Can common attained a new nlSlt l6Nelt Wltn d urge tOldl of dealings. The early activity was fol- lowed by intermittent advances and de- clines, and in the latter part of the day prices sagged generally with a heavy close feature of the final transactions was Kansas City Southern, preferred. in which there was evidence of liquidation. The stock yielded points, with abrupt declines in Missouri Pacific and Inter iational Harvester. Net losses in many ases ran to a full point.
 Purchases for London account here robably aggregated 15,0oO shares on bal once, the buying of Canadian Pacific nd Fries being offset by sales in Steel end Amalgamated Copper.
 Only one noteworthy railway return Tor March was issued today, that of the
 ehigh Valley road, which disclosed a ominal decrease in net earnings.
 The bond market was firm In the early session. but receded later in sympathy ith the heaviness in stocks. Total sales, oar value, amounted to g, ,5S2,o00.
 United States government 3s advanced An per cent on call.