The Birmingham age-herald., 1918-11-09
ARM|ST|CE HOAX HAD DEPRESSING EFFECT ON STOCKS Leaders Lost 1 to , Points, But Were Able to Make a Comeback Later
 In Session.

New York, November S.-The stock
 market continued at the outset Of to-
 days more moderate operations to re- fleet the disturbing influences created by yesterdays armistice hoax. Leaders lost l to 5 points, but soon recovered, in nu- merous instances being succeeded by ma terial gains over the previous days high est quotations.
 Wall street is almost unanimously or the opinion that the war is ended, but manifests considerable confusion of sen timent in proceeding to adjust it's affairs to peace conditions. War stocks were alternately heavy and strong, ending in the main at materials on announcement of the placing of additional orders for various railway equipment.
 Rails held their own, being the first issues to rebound from the heavy open ing. Further accumulation of lowgrade shares was again the strong feature of that division.
 Restricted money conditions did not prevent renewal of activity, presumably by pools, in oils, motors and tobaccos, and in the later dealings Baldwin and American Locomotive, American Car and various specialties made substantial re- sponse to speculative buying
 United States Steel was consistently irregular in it's less active movement be- tween the low of l019s and high of 103A, closing at a net gain of a small fraction. The demand for metals seemed to be founded on tangible ground, but gains in that quarter were reduced by the general realizing of the last hour.
 Domestic as well as foreign bonds for feited in varying degree their gains of the previous day, Liberty issues how ever, displaying firmness Total sales (par value) aggregated S12,275,00O Old United States bonds were unchanged on call.
 New Orleans, November S-Yesterdays peace news is not officially confirmed yet, but London says general opinion is that Germany must accept. Liverpool strongly accepted peace anticipation, be- ing about 50 points lower than due on prospects of larger importations and straddle operations. Norfolk advises that British consuls were instructed to cut insurance rates for British bottoms 50 per cent owing to increased safety of shipping.
 The following important news came from Washington and Atlanta: ''rhe E essary and impracticable. President Will son will be told by s>e cotton investiga- ting committee on the war industries board, was announced by pr. Thomas w Page, chairman of the committee
 Atlanta: Resolutions calling for the abolishment of the war inquiry board immediately on cessation of armistiee now pending and calling on farmers and dealers to hold their cotton for 8 cents a pound, were adopted at a meeting here today by the cotton states advisory board 7-- zs~sr-7
 Weather conditions and outlook are bullish Cold weather. with tempera- lures 40 and below into Georgia, con- tinues over the Atlantic states while rains covered the western half of the belt with temperature to "A in Oklahoma | and northwest Texas. Indications are for unsettled, rainy weather in he belt, | with a cold wave over Sunday. Follow | ing comment from New York after the 1 close. 7. The ginning figures of 77s9,6l5 bales | were in line with general expectation and 1 had little effect Liverpool cables were | lower, due to war risks and selling by f Wall street and the south, which brought 1 a lower level of prices, but on the in- fluence of buying for New Orleans and | foreign accounts recovery of 70 points occurred The market, however, failed to | show any real snap and passed off as | soon as this buying subsided. News as to | the outcome of the armistlce is restrict ing business, but the general impression l prevails that this question has been dis counted by the present level of prices. Sales on all rallies still look the best to us.