New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-24
STOCK MARKET REVIEW
Market Was Dull and Weak, Ex-
3eDt in SpeCiaItleS.

During the first hour the market
yesterday was very irregular, but deal
ings were OF such a professional appear
ance that the action did not suggest any
special trend Considerable selling was
i'm evidence. but by II o'clock some OF
the effervesCence of trading had died
| away and the range of prices assumed
steadier tone Weakness was in evil
dence in United States Rubber. due 70
selling by those who had purchased the
stock for a rise. The tobacco stocks dis
played strength and there were side
talks Of better things in store for these
issues American Ice was fairly strong,
but not enough so to arouse much en-
thusasm. though gossip was distributed
| that c. w Morse would he doing things
i'm the ice line after he got into harness.
There was some scattered liquidation OF
Steel. but II was well taken. and there
was bulish talk in connection with the
future movements of this stock.
The only move to break the monotonN
of trading during the later morning ses-
sion was an upward jump in Can, which
made the bears conclude that there was
some strength left in the market, and
run to cover. Industrial Alcohol was
one Of the strong specialties. bullied by
the interests in it on the assumption that
there will be a big corn crop. which Will
make cheap corn next winter, and OF
course. profitable alcohol for industrial
purposes on this same reasoning the
market found some good prospects COR
| Distillers, which developed a fair de-
gree of strength. Another story that
was distributed freely on the floor told
of a possible 81 per cent scrip dividend
on American Tobacco. probably as pay
mcnt of dividends held up last year after
the courts declared the old company to
be an illegal combination
The market was dull in the late after
noon. and large interests seemed to favor
! the dulness. There was some liquida-
| ton Of Denver & Rio Grande issues, due
| largely to "A lack Of further waiting
patience on the part of those who had
purchased the stocks for higher prices.
Transactions as a whole were colorless.
except in Tobacco and Alcohol. the for
mer showing a gain Of 6l2 points and the
latter 2ss. International Harvester pre-
| ferred Seaboard Air Line preferred, May
| Department Stores, American Sugar.
! American Can common and General
| Electric all closed around a point or
| fractionally better than Wednesdays
prices, but there were minus marks in
other stocks which have been on the up
climb during the present advance, and
as a whole the market was Of no i'm
portanCe as indicating sentiment, further
than showing some buying power. Of
news there was none; only some old ru-
mors and few of the old ones made
! over to resemble fresh ones.
The foreign market situation had lit
tie effect on New York as the irregular
conditions were sympathetic, and the
downward closing of Americans in Lon
don was due to New York selling. The
political coloring Of the market on Tues
day seemed to have vanished yesterday.
With the exception of corn raising for
alcohol distlling purposes and fruit rails
ing TO fill tin cans. the spirit Of the hour
was one of indifference and an inclina-
ton to rest