The Birmingham age-herald., 1912-04-18
WALL STREET FEELS
 TITANIC DISASTER
Majority of Active Stocks Registered Advances in
 Initial Dealings

New, York, April 17.-The stock market today offered further proof in it's halting and uncertain tone of the widespread de- pression caused by the greatest marine tragedy of modern times in connection with manipulation. The catastrophe came back to Wall street with especial force It involves the loss of men of wealth. The speculative element and professional traders thought the period inopportune for a bull wave.
 Declines which followed 9 moderately strong opening probably resulted more in shying the castor of fear than any thing else into the speculative world. Se- curties of the International Mercantile Marine company manifested better ten dency on very light dealings at the out set, the common shares rising fractionally' the preferred stock a point and the 41s per cent bonds IA Later they receded slightly, but were under no selling press ure at any period of the session. A ma jority of the active stocks registered ad- vances in the initial dealings, with pro- nounced strength in Union Pacific com mon and preferred. Before the end of the first hour a selling movement reversed the markets course, and many of the standard issues went under the previous days lowest quotations, while business fell to minor proportions. Midday brought partial recovery with especial resiliency in Amalgamated Copper and American Can while pressure against Steel was but Slightly relaxed.
 The heaviness of Steel was accounted for in part by the dissemination of rumors dealing with the possible action of the directors at their quarterly meeting fortnight hence. The financial district seems to take it for granted that earnings for the first quarter will fall short of dividend requirements on the common stock at the present per cent rate, and that this condition may effect the pol icy of the corporation for the ensuing year.
 Amalgamated and the other copper stocks, as well as American Smelting held fairly steady during the greater part of the day, which was characterized by extreme duillness in the afternoon. In ternational Harvester and Bethlehem Steel common and preferred were among the few strong features in the special group, with unexplained weakness in the fertiliz- CTS. In the last hour prices rose all around under the lead of New York Gen. tral which duplicated it's recent high price but the advance was soon followed
  top. The closing was marked by much firnness and a mixture of losses and gains.
 General news included further delay in the conference between the railway man. agers and the locomotive engineers and a continuance of the anthracite coal dis cussion The greatest encouragement was found in a further analysis of the coun- try's exports for March, which were greater by more than 9 per cent than in any corresponding month and increased some $43,000, 900 over March of last year.
 A feature of the days operations on the "curb" was an advance to 150 in the price of old Marconi Wireless shares, a rise of 25 points for the day, and about double it's price of week ago, with an increased demand for the stock abroad
 The weekly return of the Imperial Bank of Germany was notable for its s65,000,000 contraction in discounts, an S1S.000,000 gain in gold and S26.000,000 increase in cash.
 Announcements that New York city is soon to issue some $65,0o0000 50 year Az per cent bonds was followed by heaviness in outstanding issues. Otherwise the bond market was mainly irregular. Total sales par value S2, 2,449,000
 United States government bonds were unchanged on call.