The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1910-04-12
SHARP UPTURN IS
MADE IN STOCKS
Reassignment of Supreme Court
Cases Gives Strength
BUYING VERY URGENT
Impression Made Upon the Financial
~ World Is That Corporations VIII
Have a Better Chance In
Future Cases

4 New York April 11.-There was SUD
den spasm of activity of stocks today on
the announcement of assignment for re-
argument before the supreme court of the
Tobacco and Oil cases. The markets ae-
ton confirmed the report that an adVan-
tage for the corporations had been gain
ed The buying of stocks was hurried
and urgent and at rapidly advancing quo
tations. The professional bears had sold
stocks in the early dealings on a rumor
that decision adverse to the American
Tobacco company would be handed down
today This mood of the speculation had
been aggravated by the speech of the At
torney General in Chicago on Saturday
night and by the intention there an
nounced to extend the scope of govern
ment prosecutions of corporations to the
bituminous coal combination, and, infer
entiallt to others. It was gathered that
the governments programme was based
largely on the outcome of the two cases
now proposed and the announcement
caused a revulsion of the sentiment from
the depression caused by the Attorney
Generals announcement.
The impression made on speculative.
sentiment was of an increased chance for
final judicial opinion adverse to a radi-
cal Interpretation of the antitrust law.
The demeanor of legal counsellors of the
corporations involved conveyed the same
impression. The delay in itself which
must now occur in reaching final de-
cision in the cases was accepted as
measure of relief from the condition OF
suspense that the weekly expectation of
a possible decision has held over the
stock market. For those who have held
that the immediate suspense OF this ques-
ton has been repressive influence on
enterprise and business in fields widely
remote from mere stock market activities,
the changed condition was regarded hope
fully and as likely to release some whole-
some activities in commercial and indus
trial circles.
The dropping tendency of cotton and
grain gave weight to favorable auguries
for. the crops Weather conditions in
wheat belts strengthened these opinions.
Interest rates for time loans were adj
vanced again and the call rate started
the week at S13 per cent, Influenced both
by the bank statement of Saturday and
the belief that further gold shipments
would be made for this weeks steamers.
None were announced today, and the for
dency.4 The fact that the Bank of Eng
land secured the bulk OF the South Afri-
can gold arriving in London without COM
petition bore on the situation. The state
ment of agricultural exports for March
showed an increase in value, but q fall
ing off in amount of cotton exports COM
pared with March last year. which served
to alter the discrepancy in our export
trade, which has been glaring for many
months. At the same time there were
further arrivals of the cotton which is be-
ing re-imported from Liverpool orelieve
the threatened corner in May.
Bonds continued irregular. but there
was some Improvement at some points.
limitations that further offerings of new
industrials were contemplated were taken
to mean that the surfet was being re-
lieved to some extent. Total sales par
value, 81, 275,000.
United States bonds were unchanged on
call.