New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-13
STOCK MARKET REVIEW
Dull Day, but Sentiment
Chanued from Tuesday.

After the general decline OF TUESDAY
the opening yesterday was subdued ana
inclined to irregularity. Nothing ap-
narently interested the traders, and such
movements as were in evidence indl-
Gated pure professionalism. The news OF
beneficial rains in Kansas ola not
awaken the lethargic tone. Ine oh'y
stock TO show strong position was
Colorado Fuel. which made Its initial
bow as leader to the bulls on tne
previous day. AS the morning advanced
there appeared an undertone or strength
in some Of the issues, assisted by the
considerable short interest which was
encoura sed both on Monday and on
Tuesday. American Beet Sugar de-
veloped strong position, due to the re-
port Of q bright outlook for the best
crop. Canadian Pacific attracted some
attention by the announcement that TINS
road had placed all order for l.,
freight cars and 800 locomotives. IT
was argued by the friends Of this past
market favorite that such an order In
dictated a confidence of the management
in the general prosperity along its lines
The market remained in a narrow chan
mel during the morning session, and
there was little disposition to advance or
decline prices beyond fractional points
There were rumors afoat regarding the
summoning of several Wall Street
houses identified with the recent manip-
l,,1, . Gan nv the ''nOnpV
trust" investigating committee, which
seemed to keep enthusiasm down and 10
hold in check any tendency TO new COM
mtments.
The early afternoon witnessed an inn
provement in the market though there
was no volume of business to impress
traders; the atmosphere suggested
hardening of prices and there was an
absence Of pressure of stock. Some idea
Of the early duness may be gained from
the fact that New Yorl; Central did not
open until after / O'clock and several
other stocks had not seen any opening
prices even at that hour. Copper stocks
showed a revival on the possibility of an
increase in Anaconda's dividends which
has been predicted to take effect in the
near future. Canadian Pacific was
strong and registered an advance Of II
points over Tuesdays close, and Ameri-
can Can made some recovery. There
was a rumor that possibly the Jersey
Central and Lehigh Valley would pur-
! chase the old Equitable Life Assurance
!
| jointly tunnel under the river from Jer-
sey City and have a terminal in New
York. The fact that rumors Of bullish
character were being circulated and that
! ish were yesterday afternoon brought
out with a new dress and used by the
bulls gave the market optimists courage
| TO hope that another upward move was
! in sight In the late trading more ac-
tivity was displayed. and a buying de-
mand was manifested in United States
Cast Iron Pipe and Foundry preferred.
1t sold at 60. an advance of points,
and the only offerings afterward were at
63. There appeared TO be an investment
demand for good rails as the market got
| started, and there was a firm tone in
| evidence at the close The news of the
day was no better than during other
| days. which illustrates the uncertain
changes of sentiment in the stock mar
ket. There was no trading Of import
ance for outside account except buying
of Canadian Pacific by houses with con-
| nc in, do Il.
Canadian Pacific apparently had ceased
in Berlin, so in that respect there was
an improved market position.