New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-19
STOCK MARKET REVIEW
More Politics than Stocks Kept
the Market Inactive.

There was a market, of course, ana
there were some traders who discussed
notifies with the air of professional slate
makers and with knowing assertions OF
how the convention was going to stahd'
how the colonel had a card up his sleeve
or the Taft position was such lhaI y
was all over but the shouting. Betting
of . to was I'm evidence that the colonel
wouldn't be the lucky fellow. Even the
convention photograph was discussed
and some wondered If Barnes was well
taken. Speculation on the cost or the
silver pitcher and cup at the present
nrice of silver was another interesting
tonic. The guess as to how many fistic
encounters would attract the attention
of the throng of lively policemen in the
convention hall and other equally I'M
portant subjects were talked over, and
oh. YES stocks were for sale and some
were bought. Strange to say, the mar
ket actually did more business yesterday
than on Monday from II to | o'clock.
Nineteen thousand shares were traded IN
Yesterday. compared with Obs on Mon
day in the same hour. The opening Of
the market was quiet. and the general
sentiment suggested indifference on both
sides of the movement. Can opened a
trihe stronger than on Mondays closing.
There was some favorable talk on the
fractions, but the trading was scattered.
DuIness and a reactionary tendency de-
veloped in some issues, more as a result
Of Indifferent support than from liberal
offerings Stone stocks, however
showed strength. and the Texas COM
pany came along with new high record
for the year, due to revival OF the old
rumor Of an increase in the dividend at
the next declaration.
Sugar stocks sold off some on the talk
Of war among the sugar interests. The
probable investigation Of the anthracite
conditions was used ineffectively by the
bears to shake out stocks, but as the
gossip and pessimism were not received
with any degree Of enthusiasm the mar
ket relapsed into a leaden dulness. AS
the day wore on the interest I'm stocks
became less and the tendency to discuss
politics increased Politics absorbed all
the attention in the late afternoon, and
bulletins were received and read with
an interest foreign to stock market
prices Oldtimers told the youngsters of
the other Presidential years, and related
incidents Of fact and fiction TO hold the
centre Of attention. In the mean time,
practically left to itself, the market as
sumed a firm undertone. and its closing
was indicative of a stronger position,
though there was no life in IT, Even
announcement of the settlement Of tho
American Smelling Company strike at
Perth Amboy failed to arouse any trad
ing enthusiasm for smelling stock. which
showed a lower closing than Mondays
price.
Foreign markets did little to alter the
position here. American stocks In Lon
don exhibited strength, but there was a
tendency shown to await the outcome Of
the conventions at Chicago and Balti-
more. The home market was weak.
Consols sold at q new low record and
money was firm. The liquidation in evil
dence in the near closing Of the foreign
fiscal year had a depressing effect in
London. Money in New York was un-
changed and easy.