The Birmingham age-herald., 1912-03-12
UNCERTAINTY IN
 STOCK MARKET
In Final Dealings Prices Crumbled With Figures
 Lower Than Saturday

New York, March 11.-Stock move ment today was characterized by un- certainty during the greater part of the session, but in the final dealings prices crumbled all around with. quotations not only at the lowest but generally under Saturdays low level. In the early hours of the trading attempts were made to advance some of the coalers under the lead of Lehigh Valley and Reading and a number of more ob- scure issues also made material gains, but the movement was so evidently or speculative origin, that it failed to at tract any outside support. on the other hand, 1t is not unlikely that the late attack upon, values was largely or bear character and had it's foundation upon the theory that reaction ought to follow last weeks almost uninterrupted advances.
 In point of fact, there appear to be little on which to build the early rise. London sent over a lower range of quo- tations for our securities and that market, as well as all the continental exchanges, seemed to reflect increased apprehension over industrial conditions, particularly in connection with the strikes of coal miners in Great Britain, Germany and the threatening outlook in the same industry in France.
 To add to the days uncertainties, the United States supreme court held its weekly open session and adjourned for an hour just before the market closed This gave rise to the possibility of some adverse decisions later in the day, a contingency which was not without effect on Reading, whose status in re- gard to its coal holdings is now before the court for final adjudication.
 Railroad traffic in the west shows some increase bat the majority of trans portaton companies continue to suffer from the abnormal cold This has caused considerable delay in freight movements and has effected natural movement in gist of operations. It is practically a foregone conclusion that the net earnings of all the larger roads In the west. northwest and southwest for the three months ending March 1 will be a distinct setback to their re- putation. The cold weather has been A menace to the textile manufacturers be- cause of small summer takings. but prices have continued strong Germans calls on the country are unabated and such loans. as that market will repay -- here at the end of the month are like .~ly to be more than offset by larger bor- s- rowings, More 30 day loans to Berlin z were negotiated today at rate. it Is z said, slightly better than those of last week The local inquiry is broadening, r"lth a slight increase for 60 and 90 day z accommodations Bankers look for even -fhigher rates before the end of the Z month, when many home settlements - will have to be made
 Y Nothing more was, heard today of the new financing which some of the rail- roads and industrial corporations are said to have under consideration. The relative failure of some recent offer ings here and in London makes more probablet the issue of usual short term notes instead of bonds.
 The bond market. ruled steady with
 fairly broad demand. Total .sales,
 ar value, aggregated S2, Hi 900. Unit
 States government .onds were un- hanged on call f.-. sFs