The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-05
BIC IMPROVEMENT
IN STOCK MARKET
Prices Now Higher Than They
Were Before Government
Started Steel Suit.
is GENERAL
Wall Street Believes Tobacco
Reorganization Plan VIII
Be Accepted by Court.
REACTION is GENERAL
By Leased Wire to The Tribune.

By Leased Wire TO The Tribune.
NEW YORK. Nov 4.-The reversal OF
sentiment on the stock exchange this
week was important. whether viewed
from general financial or stock market
point OF View. u came suddenly and tho
upward movement in share values gained
such force that the movement deserved
The rank as tho most significant one for
weeks past a week ago, following the
government suit against the steel cor
poration, Friday, Steel common sold
down TO so from ssh the previous day,
Thursday OF this week II rose 10 59a
The effect Of this WAS electrical on the
general market and all stocks were car
rled above the level before the suit. the
net gain in some cases being decided.
The market now Is 10 TO 20 points above
the special low figures In many leading
properties. which shows considerable
The market broadened out somewhat
beyond the large covering OF short con-
tracts and there was much discussion as
10 The outlook. Any further trust suits
against the United States Steel corpora
ton although they may exert some
temporary influence. and there is a good
prospect for a month OF comparative
freedom from serious disturbing factors
The next disturbing factor Will be the
meeting OF congress, with A revival OF
the tariff question and reports OF nNcs-
tigating committees which viii undouht-
edly be against industrial combinations.
Thus politics will come into play again
to unsettle business,
The developments in the tobacco case
formed the first great stimulating factor
IN the weeks improvement The arSu-
ment Of Attorney General Wickersham
left very general impression that the
circuit court would adopt the reorEani5a-
tlon plan with some amendments which
might relate more to the arrangement OF
details than TO any serious alteration OF
the scheme, II this should prove TO be
n
tanned as TO tho future OF other trust
reorGanIzations.
But a more direct and decided infu-
ence on sentiment resulted from the
statement OF the steel corporation and
the declaration OF a regular dividend.
Another matter that has TO be consid-
cred In connection with the impression
is the confidence expressed by those high
in the management that the steel COR
poration Will win the suit begun. The
cotton and wooden mills are worked close
Because of some large Chinese orders,
the southern cotton spindles are more
actively employed than those of New
England A very important feature rs
the fact that shipping interests on the
Atlantic coast have moro vessels under
way than for long time. Several ship
owners, and especially those engaged In
pare for the opening OF the Panuma
canal. Equipment orders from the rail-
roads are on the increase and the Octo-
Der bookings were large enough 10 re-
puire about $50 000 tons OF steel. which
means considerable for the industry,
In mercantile circles the retail trade
throughout the country is showing inn
provement under the advent or colder
weather, which Is resulting in increased
distribution OF winter fabrics. Prepara-
tons arc being made for the holiday
trade. The fact that the stocks OF goods
in the hands OF merchants are unusually
light was brought out conspicuouslH this
week This is what is responsible for
Increased operations on the part OF tex
tile mills.
The rise in the money market TO per
cent attra actcd little attention that
was below November in previous years
and was due solely to the temporary in
huepce of the displacement Of a large
amount OF capital in connection with
preparations for November interest, divi-
dend disbursements and the inEathering
Of taxes by the city of New York.
Abroad the early tendency was in favor
of easier discounts, but the close wit
messed some hardening. The weeks for
eign borrowings have been mainly held
by Germany. where industrial and other
activity is causing the active employ
meDt Of money