The Birmingham age-herald., 1912-03-16
SECURITIES TAKEN
 ID NEW HIGH LEVEL
Another Outburst of Bullish Enthusiasm-MinOr Spe-
 cialties Show Strength

New York, March 15.-There was an- other outhurst of hullish enthusiasm in the local stock market today which car ried many securities to a new high level for the present movement. The demon- stration in the first hour was unusually impressive by reason of the extraordinary pressure, something like 300,O00 shares changing hands. Operations embraced far more issues and reflected far greater breadth than for some time. Profit talk Ing followed the initial rise, with another period of comparative dulness, but or ferings were well taken judging from the slight impression upon quoted values.
 The advance was again noteworthy for the strength shown by some of the minor speciaties, but leading stocks also held consistently strong, especially the oop- pers. In the railway group there was further demand for the Fries, which sent the common stock up within a fraction of last years high figure. The activity of these issues was attended by rumors of purchase for control by the Hill in terests These rumors have served on previous occasions and were no more au- thentioated today
 Colorado Midland made good show ing. the rise being based on the idea that that system is again to become fac- tor in the western and southwestern field. Other low priced railroad shares were in fair demand but the impelling mo- tive back of some were obviously of "pool' origin.
 Among the standard shares Illinois Cen tral was conspicuous for extreme weak ness, which was expected in view of the recent unfavorabe report of earn ings.
 In the last hour the market was again subjected to considerable selling, no part of which originated with the short in e terest who became emboldened at the conditions in the coal trade here and abroad
 The interstate commerce commission whose rulings have recently favored the transportation companies instead of the shippers, called attention to legislative conditions at the capitol. Final dealings reflected a mixture of short selling and further profit taking. Dealings were light with alternate fractional gains and losses, but net results favored the bull account in the main. even though gains in some of the leaders were completely wiped out 
 Total dealings aggregated 7S2,000 shares, and were the largest, with few eXcep- tions, in some weeks.
 Americans were among the strong fea- lures Of the London market. with a very decided rise in Southern Pacific, which was followed up here. Some concern Is being expressed in London, however, at the spectacular operations of shares in the tin and metal companies. In fact, tin shares slumped abruptly in that mar ket later in the day. when rumors of financial embarrassment to some traders were current.
 Local banks are threatened with an other loss of cash this week. Albeit the drain promises to be small A further loan expansion is not improbable, to- gether with another decrease of reserve.
 Bonds were firmer with especially large dealings in the Erie issues. Total sales. par value. amounted to S,6l1 GOO. United States 2s coupon advanced i4 per cent and the Panama IS coupon declined is per cent on call.