The Birmingham age-herald., 1911-10-31
N NCTS STOCKS Mark Is Fairly Strong
 Da e Bearish Stock TS Operations

Na,., vo> >Srli, October SO.-Stock market ,as ssx 32s were bearish today. but stocks fx1fe fairly strong.
 Wall street had not recovered from the
 eo- of the United States Steel dissolu-
 pn suit, and the discussion in court of
 American Tobacco reorganization plan
 ied to it's nervousness. That stocks
 Vaheed despite these conditions was due
 'efy to short covering. Short selling
 beHeYed to have played larger part
 Fridays severe slump than was appar-
 at the time and operators today
 lnd the market in an oversold condi-
 pm.
 stocks were in small supply and prices H1vanced whenever any material demand a peared.
 She American tobacco hearing was the ceEter of interest and opinions as to the significance of events were varied. Some disappointment was expressed at the pos sihilitv of a long delay before final ac- ceptance of any reorganization plan as suggested in the Attorney Generals proposition for probationary period. It was generally believed that the Attorney Ge' eral would dissent from some of the features of the plan so that his attitude as expressed to the court was not unex- Peated
 l Several operators even placed a bullish Aorstruetion upon the Attorney Generals 4ttitude on the ground that he had no- hpposed the plan in it's entirety, and that 4t might be adopted with notifications. In Fine with this theory American Tobacco lr lrwas advanced l9 points on the curb, al Rhaugl, it lost part of it's gain later. NF Bonds were heavy early in the session, H but soon rallied. United States steel con- xSirued it's recovery began last week. After losing point early in the session it rose \ steadily until it was 1h points above Sat urday's close. Later in the session it lost part of it's gain on selling which was ascribed to the expectation that an un- favorable showing would be made by the i. quarterly report of the Steel corporation Aiue tomorrow.
 Ihe stock market as a whole was well Il abeve Saturdays final range most of the day, Union Pacific, Canadian Pacific. |, Atchison, Erie first preferred. Northern  railers and other specialties were conspic- {uous ty their strength and some of the inGLstrials made good gains on the re- Auction of refined sugar 10 cents per 100 pounds The market eased off quite gen eratly toward the close, but advances not entirely lost.
 American Smelling was especially weak. It yielded easily on bear attacks and broke to below 50, loss of over 3 points. Since the Steel suit was brought Wall street has heard many reports that other corporations would be called upon to de- ifend themselves in similar actions
 Although without any apparent founda- ton, the reports concerning American Smelting seem to have affected specula- tive sentiment toward these stocks.
 The ruling of the supreme court in the Virginia debt case, the effect of which will be to delay settlement of the mat. ter. was followed by a break in the Vir- giniag debt certificates from. -bs' to Aa4s Reports from the west told of 'a some- ' wha. better feeling in business circles although railroad tonnage is receding. Advices from the steel trade were that conditons are little changed with prices at the lowest.
 The production of steel in October is ex- pected to show a shrnkage of between ' per cent and 10 per cent from last month.
 The general bond market ignored the arly d'pression in American Tobacco is- ues and showed increasing firmness while leavy. Total sales, par value, S2,3S5, coo Limited States bonds were unchanged on roIl