The Birmingham age-herald., 1912-04-02
STOCKS RESUME UPWARD MOVEMENT Coppers Especially Active. Steel One of Mondays
 Active Stocks

New York, April 1.-After a brief pe- riod of irregularity and confusion fin prices the stock market today resumed it's up ward movement in the .industrials, es- peeially the coppers. Amalgamated Cop per hold at it's highest price of the move ments and gains of 1 to ? points were made by Ancadona Copper, Utah Cop per and Tennessee Copper, while American Smelling and United States Steel recov- cred some of the grounds lost in the final days of the preceding week. Best prices of the present movement were also mace by Reading and Union Pacific, but It is worthy that the railway stocks as whole were far less conspicuous anu stronger than the other group
 The further rise in the metal sloehs was concurrent with another advance III the price of the metal, which was quoes at 157s1l6c per pound. To what eA.e,' l. the heavy advance in copper metal IS Jus tified by actual conditions remains de- batable question: but there can De no doubt that the various industries III which copper plays an important part hoW are enjoying a greater degree or prosper ity than they have known In any perloo in the last two years. That much can hardly be said of the steel and iron in- dustry, which is less active at the mo ment than it was a fortnight back Estl- mates dealing with the past quarters net earnings of the United States Steel cor poration were made today, the most con servative placing them at about s3,OO0'Voo. It is also thought that the corporation untitled tonnage for March may show little diminution in business for that month. Despite some slackening in the industry steel was one of the most ac- tive of today's stocks, which may have been due to belated recognition of last weeks advance in structural parts. On the exchange it was matter or gossip that no small portion of today's buying of steel came from prominent commission brokers recently active on the selling side.
 An advance in call money to per cent together with some profit taking produced some dullness and fractional recesstons in the last hour, but the undertone was dis tinctly firm. The rise in money was natural corolary to last Saturdays bank statement in which actual reserves were all but depleted. It may reasonably be assumed that this condition will be recti- fled in the course of the week as the large dividends of April 1 Is bound to go back into the banks.
 Some of the latter especially those whose reserves last week went under legal requirements called loans today, but this action created little more than ripple on the surface of the money market. Time maturities stiffened lightly with reduced offerings.
 The days labor news was a mixture of good indifferent with better outlook for the situation in the textiledistricts. Week ly reports of the western traffic managers indicate that business is holding up well, siugh congestion has resulted from the shortage
 nlericans were strong in London and 8at market again bought moderately fsfs. fh l.l
 ne days railway returns for February luded the Pennsylvania system, its
 tern lines increasing about ssOO,000 net, S h those west of Pittsburg increasing eaiy $30,0o0. The complete returns of New Hnrk Central were distinctly favorable, a were also Northern Pacific's and St. is.)uis Southwestern. Illinois Central lost almost $500.00 net and the Atlantic Coast flne decreased $2S1 ,000.
 The bond market was genera ly steady, nlt some issues inclined toward heaviness. Total sales, par value, $3,216,00o.
 United States 3s coupon advanced h, Fhile Panama 3s declined 14c on call.