The Birmingham age-herald., 1912-02-20
LITTLE DOING IN
 STOCK MARKET Reading the Only Leader to Move More Than Frac- l tion From Last Week

New York, February 19.-Reading WIS the only one of the stock market leaders to move today more than a fraction from last weeks close. That stock was under pressure during the morning and lott a point, but made 1t up in the after noon. The market moved with Reading. The tone was heavy in the early part of the day and prices were cut fractional ly. In the latter part of the session the list hardened. There was no sign of an awakening from the comatose condition into which the market fell last week. It's utter stagnatlon is indicated by the fact that during one hour of today's trading less than 1S,0o0 shares of stock changed hands, the lowest figure for an hour s business in months. Quotations at the close were barely changed on the day.
 The pressure against Reading apparent- iy was due to bear selling on the idea that the supreme court might tender it's ne- cision in the anthracite case. With sev- eral other important cases pending in the supreme court, there was a dsposr- ton among the trading element to await word from Washington whether decisions
  which most interest is felt in Wall street.
 The copper stocks showed continued tirmness.
 The recent advance in these stocks has failed to attract to them large speculative figure owing to the beirf that the rise while to some extent re- fiectfon of better conditions in the metal trade, was largely manipulative. The re- port of the Hardwick committee on the American Sugar Refininga company was not reflected in the stock market, Amer icar Sugar selling unchanged. A few in- active stocks moved more widely than the leaders. American Snuff dropped 5 points and Bethelehem Steel 1ss. St. Louis Southwestern, Central Leather, preferred, Westinghouse, Mackay compani,s, and General Electric, were the strongest, rls- ing a point or more.
 Improvement in freight movements on western roads during the last week was reported. Gross earnings for the first half of February in many cases show consid- erable gains, chiefly on account of un- usually large receipts or farm products. While railroad managers were confident that these conditions would continue, un- der normal circumstances, during the re- mainder of the month, it was said the en- larged volume of traffic represented to d considerable extent the congestion due to the recent severe weather and that no definite and sustained improvement was expected until there was correspond ing change in general business conditions. sGermany again borrowed money in rhls market Nvw York bankers received bids of Az per cent for one month loans, or fers so much above the current quota tions today as to attract some large ln- yestments Bankers ascribed the demand for money in Berlin to commercial activi- ty and the requirements of the approach ing settlement.
 / Engagement of gold for shipment to | south America continued, $s5o,o0o peins withdrawn today for Argentina. rms demand for gold showed that foreign mar kets were once more shifting upon New i, York the burden of financing the pay ments to Argentina which must be made at this time of the year
 The bond market was dull and steady' Total ;ales. par value, s1,se4,0oo. United States bonds were unehangeo on call.