The Birmingham age-herald., 1911-10-27
STOCK CLOSES
 FAIRLY STEADY Government Suit for DissO- lution Affects Steel
 Stocks

New York, october 26.-OperatlonS III stocks today centered about the steel group. It was not until after the close Of the market that knowledge of the govern ment suit for dissolution of the United States Steel corporation reached wall street Nevertheless pressure against the steel stocks was constant and severe. rho standard stocks. in general were little af- fected by the movement.
 Something of a mystery was made Of the special meeting of United States Steel directors. The part which United States Steel had played in the stock market dur ing the turbulent days of last month and the disturbed conditions in the steel trade gave rise to various disquieting rumors as to the purpose of the meeting. When it was announced that the directors had met to give official sanction to the plan made known several days ago for termi- mating the Great Northern ore lands lease and reducing ore rates on the cor porations s railroads, prices rose somewhat. Improvement, however. was not sus- tained. The selling of the United States Steel stock forced it down to 5S14, the low est point of the session and a drop of nearly points from the high figure of
 
 extent a reflection of the feeling that other matters than those made known were discussed at the directors meeting.
 Despite the frequently repeated report that the government was soon to file it's dissolution suit, however, the street was not prepared for the announcement that the suit had been filed.
 United States Steel is now selling nearly 25 points below the high price of the year. The decline has been generally attributed in large part to selling by holders who feared such an action as was begun today by the government. What effect the ac- tual filing of the. suit will have upon this and other stocks is, of course, problemati- cal. It has been believed by some ob- servers of the financial market that a suit against the largest of the country's in- dustrial concerns would serve to bring to tead the issue which has proved so dis quieting and would have ultimately ben efioial effect.
 Standard stocks held fairly steady with majority showing nominal losses. The increase in Norfolk and Western dividend rate to 6 per cent had no pronounced effect on the stock, as the change had been an ticpated. The stock rose less than a point, touching it's recent high figure of -OSA and then fell back
 Erie, Rock Island and Southern railway shares were especially firm, and Dela- ware, Lackawanna and Western rose 2C points to 560, gain of 55 points within about month. It was among the less active stocks that chief fluctuations of the session occurred, aside from the move inert in the steel group.
 American Cotton Oil continued it's re- cent decline. falling 21a points.
 Republic Steel shared in the weakness of United States Steel. The preferred lost 21a.
 Colorado Fuel, National Lead and Underwood Typewriter also were very weak. London was a buyer in this market having purchased about 10000 shares on balance. Much of London's S purchases were United States Steel.
 The reports of the banks of Eng land and France showed further strengthening of positions. This was especially true in the case of the Bank of France, which added more than $2,000,000 to it's gold holdings and at the same time reduced its advances and discounts by $15, 1925 5,000. r-5s--s
 Bonds were irregular. A fall of F . points in Wabash As was reminiscent of the recent break of 10 points in this issue. American Tobacco bonds sur rendered almost all of yesterdays rise and Third Avenue As also were weak. Total sales. par value, S2, 1900, ,000 United States bonds were unchanged on call.