The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-11-09
No Disappointment Shown
by Change of Political Sit
uatiOn and Market
Is Active
FLUCTUATIONS OF
UNITED STATES STEEL
FEATURE OF MARKET
Prosperity Will Continue, Decrales
Broker, as No Inherent Weakness
Was Manifest When Tide
Turned From Hughes
to Wilson

With the shift of favor from Hughes
to Wilson and political uncertainty
gripping the country, Wall street
passed a day almost without parallel.
The financial powers opened firm.
Bulletins coming on the exchange
forecastng growing strength for Will
son caused a slight tremor. The mar
ket broke. Stocks declined. But this
decline was short lived, and the ex-
change became more confident. Shortly
after noon, United States Steel and
other stocks spurted to high record
figures, but broke again before the
closing gong sounded.
The market was capricious. Gulf States
Steel common in face of political up
heavaL made a gain of "a during the
day. Soss-Sheffield, opening at TN, took
lofty flight to soy, but broke slightly
to 1914. These stocks showed gains, but
others lost during the day.
The feature of the tumultuous session
of the exchange was the fluctuations that
United States Steel common experienced
On Monday, the United States Steel stock
closed at l22. But when the market
opened yesterday morning it was chalked
at 125 When reports from the west told
of Wilson's growing favor, the stock de-
clined and broke slightly A recovery
from this slump was noted about noon
and at i o'clock, Steel scared to 126, the
highest mark yet attained.
When traders started selling at this
figure, the market dropped. 1t went to
1A, but climbed to 124A at the close.
While the steel stocks darted up and
down, railroad common was steady and
slightly higher. No sensations were pro-
duced by stocks of the carriers, although
it was agreed that the outcome of the
election might have telling effect upon
the Golfers of the railroads.
Norfolk and Western provided the fea-
ture 1t opened at 144b, sold at las, ano
broke to 1421a at the close. New York
Central, regarded as a normal example
opened at 1O9, went to Ito, but slumpeo
to 1881 at the wind-up. Southern rail-
road common lost 81, opening at 29% ano
closing at 2S34.
wall street passed q most remark.
able day, pending the outcome of the
election" said w. /. Phelts of c. S
Avery & Co. THE outstanding indica-
ton was that regardless of who is elected
President, Wall street expects prosperity
THE market closed firm, and l believe
that stock is going higher. The market
was rather uncertain at stages yesterday
At times, stocks scared to high record
figures, and then broke. This was tc
uation.
81 do not believe that the stock ex-
change will show it's disappointment by
subsequent slumps if Hughes is not
elected. Prosperity is going to continue
according to my Interpretation of the
market yesterday. If there had been any
inherent weakness, crash, such as
never has been seen before, would have
come when the tide of favor shifted from
Hughes to Wilson"
Republic Steel and Iron company com.
mon had a rather pronounced reversa
yesterday. 1t opened at 81, sold as high
as S21s but fell to 70 at the close. Ana
conda Copper was quoted at 9S at the
outset, jumped to 991a, but slumped tc
965s at the close.
While the stock market was atremble
the cotton exchange was far from pan
icky. 1t went 80 points higher than Mon
day, cotton thereby jumping S150 a bale