The Birmingham age-herald., 1912-04-20
BUSINESS IN STOCKS
 THEBEST IN WEEKS
Demand for Certain Stand ard Issues Brings About
 Revival of Activity

New York, April 19.--Business on the stock exchange for the greater part of today's session was the best in many weeks. Transactions in the first two hours barely totaled more than 100000 shares, and the trend of prices was mainly down. ward. The market heaviness during that period probably resulted more than from any other cause to the apathy of specu- lative and professional interests due to the diversion of thought to the Titanic disaster.
 Another factor from which it was i'm possible to extract much comfort was the stasds of the dispute between the eastern railway managers and the locomotive en- gineers.
 The market continued dull and irregular until the last hour, when a demand for certain standard issues, especially Union Pacific, United States Steel and Reading, brought revival of activity and best prices of the day. A number of other is- sues participated in the advance, includ- ing Western Union. which rose over 3 points on rumors of a working agreement with the Marconi company. On the curb the old Marconi stock continued it's spec taeular advance of the previous day, open ing at 24O, a 5 points overnight gain, sell ing as high as $50. and closing at S25. All transactions in this stock were said to have been for cash.
 Among the minor specialties gains of 31s points in Bethlehem common and 7ss points in the preferred were the con- spicuous features. The movement in these stocks were associated with the reports that the company is about to refund it's obligations in such a way asN to enable early resumption of dividends on the pre- ferred stock. Final prices of stocks indi- cated some realizing but the tone was steady, with something of rally in pro- gress.
 International Mercantile Marine issues were heavy, with decline of IF points in the bonds and a substantial fraction in the preferred stock, sending that issue to it's lowest point in many weeks.
 Supplementing recent statemnets dealing with this countrys foreign trade came another official report today showing that cotton exports for the fiscal year ending June 90 next will exceed by approximately 3000 bales the highest exports of any previous year. The record was in 1907, 8 370S, 469 bales, while exports for the nine months of the current year already ag- gregate 9,41S297 bales. Thus, while exports
  all records by a liberal margin, their value in dollars will be materially less than last year, because or the average lower price, the difference being about 41ac per pound.
 The return flow of cash from the interior points to a large cash gain by local insti- tutions for the week. Money was plen- tiful here today. but in moderate de- mand. Another shipment of gold to South America was reported with an additional transfer of currency to San Francisco, the latter for fruit carrying purposes.
 Bonds were generally lower, with an- other decline in New York city issues, which sold at lowest prices in many weeks. St. Louis Southwestern Consoli- dated As were an exception to the general tendency, rising points, some Of which was later lost.
 Total sales. par value, aggregated $3,79o,- GOO. E A FR United States government bonds un- changed on call.