The Birmingham age-herald., 1912-03-07
COAL SITUATION
 AFFECTS MARKET Two of Vanderbilt Roads Declared Extra
 Dividends

New York, March 6.-The reaction lry trend manifested by yesterday s ate market continued today and was puncfuated by frequent periods of ab- soiute inertia. For want of stronger reasoning the street chose to attribute the halt to developments in the coal situation at home. It is believed the miners will endeavor to reopen nego- Nations by modifying tlieir programme
 It is expected the mine owners and .oal carriers will readily consent to ! resumption of conferences under such conditions. Otl7er news of the day in itocks included the renewal of gold exports to Paris. further activity on he part of the interstate commerce commission in penalizing several rall roads for alleged violations. list -of failures for February which broke all records but one for that month in many gears.
 Two of the Vanderbilt roads, Lake Shore and Michigan Southern. and Pittsburg and Lake Erie, declared extra levidends, such action being reflected In the strength of New York Centra. md three industrial corporations in- .luding the rubber goods manufactur- Ing company and the old Dominion company, the latter a copper concernl These increased their dividend dis bursements. National banks in the west and southwest submitted reports pf their conditions to the comptroller bf the currency at Washington, pur- tuant to the recent calf.
 Texas institutions generally are well lbove the required 20 per cent reserve, while the showing or some banks in tome of the larger cities, namely, Chi sago and Pittsburg. and in the states pf Wisconsin and Kansas, Is less sat sfactory.
 In no section, however. is the huge extension of credits which marked the situation two years ago likely to be repeated. The recognized trade aurnor- lty declares that February's output of finished iron and steel was slightly larger than that of January The only development of the current week was fe heavy purchase of raw, materials ly som the more important man. sfaftui Copper trade conditions re- ma l Hno nal 7sa and anl- a small re- y io At Hf9fka nH and $ eF7ected
 th Ncnf9ary feFH.t of shs pfn-
 IT which Hfi be iHsuee on tr 1r. l9ud0ig cabfes odefad little en sour emar fn connection with tlt toal strike and Berlin sdFices beenga Increased fears aesardlrr thal {nduasF In the German emplra London Aa# igain moderate seller here and one more 30 days loans were negotiated In this market by Berlin on terms de- sidedly favorable to our bankers.
 On the curb there were heavy deal ngs in shares of the Standard oil com pany and subsidiaries. A new high record was established in the old stock of the New Jersey company, the erst- while parent concern, which sold at i50.
 Numerous railway reports for Jan nary were issued and for the most part they disclosed heavy losses in net, par sicularly Norfolk and Western, Chesa- peake and Ohio and Minneapolis and St. Louis. A refreshing change from he situation favorable exhibits was the FSstement of the Louisville and Nash JNe. ~--(-- 4 The bond -markattefided toward irN regularity. Total sales, par value, $1,- sS5,000. United States government 2s coupon, and 3s, registered, Panama Is, registered, and the As advanced A per cent each and the 3s, coupon, 1s tent on call.