The Birmingham age-herald., 1912-04-16
MOVE IN DIRECTION
 IF HIGHER PRICES
Stocks Active Regardless of
 Variety of Developments. Some UnfavOrable

New York. April 15.-Regardless of a variety of developments. some of them distinctly unfavorable. the stock mar ket today made another decided move ! in the direction of higher prices. In the initial dealings it followed London's lead by registering many declines of one to two points and in a few isolated cases the fall was greater. Marked weakness was shown by the preferred shares and the the bonds of the international Mer- cantile company, one of whose leading subsidiaries is owner of the steampship Titanic.
 The selling movement met with prompt support in the shape of buying orders which soon effaced a great majority of losses and in some cases brought the level well above Saturdays close. By midday the movement gathered greater impetus. with high records for Ameri- can Car common and preferred. In fact dealings in these shares constituted one of the conspicuous features of the day, both by reason of their activity and gains. The preferred stocks closed with net advance of 5ia points, while the common was up 47s. There was a dis position in conservative quarters to view the movement in Cans with some con- cern, but that feeling evidently was not shared by the professional element, which had the market well in hand and impelled further short covering. The strength of United States issues was another prominent feature, the com mon stock leading the entire list in it's customary manner and scoring a net rise of 1iz points. The resiliancy of this security was something of a surprise to some of the room traders, in belief that their earnings for the quarter just ended would probably fall short of dividend requirements. The annual meeting of the shareholders was held today but aside from the report of the special com mittee appointed to inquire into the cor poration's treatment of its laborers the proceedings were of a perfunctory char acter
 Copper shares, more particularly Amal- gamated Copper. also took a leading place in the days operations. Directors of the company are scheduled to meet some day this week, and the financial district is of the opinion that an increase in the present rate of dividend will be de- clared.
 Hartman and Hill stocks as well as other standard issues participated in the all-around advance. as did also many spe- ciaties, some of the latter rising from to points. Tn the late afternoon busi- ness slackened materially, but without impairment of quoted values. Some of the days highest prices were quoted in that period, the list showed no inability to absorb the days heavy offerings. The closing was active. with prices at or within fractions of the very. top, a late spurt In New York Central and Union Pacific being the special feature.
 London was a seller here at the open ing. but later bought moderate amounts of Steel, Amalagamated Copper, the liar rimans and Fries.
 Time psoney worked lower here and call money was easier. Some encourag ge- ment was found in last Saturdays bank statement, which resulted in very con- siderable strengthening of local reserves Another small shipment of gold to South America. probably for London account. and sub-treasury withdrawals to New Or leans were among the incidents of the day in the money market.
 Railroad officials reported Improve
 nent in traffic conditions in the west. but in southern and southwestern terri tories the floods continue to work hard ships. Unfavorable crop advices were re- ceived from Indiana and Ohio.
 Bonds were irregular but later hardened with rise in stocks. Total sales, par value. s2,3S1. .O00
 United States government bonds un- changed on call