The Birmingham age-herald., 1911-11-29
MARKET RALLIES A
 ->,nHN AaAA 7 TOWARD CLOSE
Reports Concerning Steel Trade COnflicting-Mills
 Resume Operations

New York, November 2S.-Irregular .nnd contradictory movements gave the
 stock market a confused appearance to- ' day Quotations gave way under the force of professional selling after fair \ F strong opening. During the remaind- CT of the session, until just before the Close, the list was weak, although the movement was comparatively narrow, I and only a. few stocks lost more than a 4 point.
 In the last 15 minutes of trading there was a complete change. An active buy irg movement dispelled the weakness of the market, and prices bounded up \ ward until at tho close a large propor-
 ton of the list registered small gains
 Tn some cases active stocks were push ed up two points from the low prices of q the day under the impulse of the sud
 den outburst, and closed with gains of
 E point
 The ostensible reason for the late up-
 ward movement was widely circulated
 1umor in regard to the nature of the | Presidential message to be read next i week in congress.
 { Traders remembered that almost every year conjectural reports of this kind are 1 circulated within the week preceding the 1 assembling of congress.
 1 Trading was more than ever in the hands of professional operators, and in
 some sections there is disposition to postpone further activity until it is pos s'slble to learn what the trends of events , ct Washington is likely to be.
 Traders were bearish For a time in l the morning the pressure on the favor ite stocks was severe enough to give the Iappearance of a bear raid. The attack OF United States steel was especially wig Iorous, perhaps because of reports from Washington that the Stanely investiga- ton was not to be terminated on &C., count of the governments dissolution lSuit
 1 Reports in regard to the steel trade were conflicting. An advance in the rrice of steel bars by one large manu facturer in the Pittsburg district was
 said to be the first step in general advance
 Several iron mills which have been idle for the last few months, it was said, are to resume operations. In contrast with these reports, other branches of the steel trade were said to be confronted | with conditions more adverse than those
 which have prevailed for months.
 In the copper trade it was reported
 that the heavy buying movement had
 ret aside certain needs and consumers
 were filling only immediate requirements. l Money rates made a further advance. Some small loans were made at SA iper cent, the highest figure since the first of the year, and time rates were flikewse stronger. There was break Of I2O points in foreign exchange rates, However, probably as result of this tchange. Is Further small shipments of gold from lNew York were made, the consignments being divided between Canada, Venezuela land San Francisco. The total loss of lgold on the present movement is now lS16.3 GOO. -'' Z
 Bonds declined after some irregular sity. The New York traction issues were purchased heavily at saI a advanees ol ol ! l Ito points. ..... I Total sales bonds, par value, a,6soooo Limited States. bonds on call were un- Behanged. 8