The Birmingham age-herald., 1912-06-06
DEALINGS MUCH | LARGER IN VOLUME
Stocks Manifest Tendency to Harden, Especially An
 thracite and Copper

New York, June 5.--Stocks manifest
 ed a further tendency to harden today,
 particularly in the anthracite and cop
 per divisions. Dealings, palpably or
 professional origin. were in larger vol rIme than yesterday. Despite early dull 1ness, the market was fairly broad in khe sense that more than the usual
 number of securities were quoted. The
 early afternoon witnessed the custom
 ary period of lassitude, but the final
 hour, in which the average level of prices was highest, was fairly active, Although much of the trading was in the minor metal stocks. The closing
 was strong with large percentage of
 substantial gains.
 q Aside from a large issue of April railway reports and a highly optimistic 4lnterview by an acknowledged market Header the day was devoid of news. IAs for the railway returns they were
 hot altogether calculated to inspire con- ifidence. The financial community, es- lpecialiy that element vaguely referred Ito as the large interests, seemed to levince more interest in the forthcoming {, money trust" inquiry and conditions abroad than in the market itself. Pri- ivate advices from London suggest that ithe expiration of the month may dis iclose an awkward situation at more ithan one continental capital and pre- icautions to meet emergencies are being taken here. Berlin was again In ne ,gotiation with our bankers for addi- .tional credits to meet the mid-year istrain, but so far could be learned flew loans were executed.
 The greater firmness of the indus trial stocks and metal issues was al- irectly traceable to the encouraging re- views issued by trade authorities, to- ,gether with intimations that another and more general rise in prices of fin- ,lshed steel and iron may soon be an- ,nounced.
 Copper is being sought at the new lhigh prices and those who keep In touch with trade conditions expect that the next statement of the producers will reveal a large decrease in the sup ! ply of the, metal
 Business on the London exchange
 was restricted by reason of the large attendance at the derby, but the mar ket was sluggish, with a further weak fening of consols by Liverpool, where aA large grain failure caused more or less unsettlement. Other adverse ln- huences with which London has to con- tend at the moment include the trans port strike, irritation among the coal miners and greater firmness Of money. Dealings here for London scarcely ex- ceeded 5000 shares, with sales outbal- ancing purchases.
 Increasing ease was the feature of the local money market. Sixty day loans were nominally quoted at per cent, unchanged from yesterday but some loans were made at PA per cent, which Is virtually the call loan rate. Banks here have reduced their cash losses to the sub-treasury, with every indication of further reduction on the week.
 The Great Northern railway increased its net revenues for April by $445.000, and Norfolk and Western by $346.00O, while the Minneapolis, St Paul and Sault Ste. Marie gained s32s,000. The St. Louis and San Francisco system fell behind by $SS,000, and Chicago and Alton $154,000.
 Bonds were steady on a good dfstri- button of issues. Total sales, par value. amounted to $2,047,000
 United States government bonds were unchanged on call