New-York tribune., 1912-08-17
STOCK MARKET REVIEW
Trading Irregular and SentI'
ment UnCertain-Go0d Un-
dertone.

Activity with declining tenoency III
orices marked the opening Of the stoch
market Yesterday. There were groups
of bearish traders who looked DOUBTFUL
but solemn. and who shook their heaus
when speaking of the markets Proo-
able action. The talk and looks, now
ever wore more serious at the time
Than tho selling which was recorded
I-niou Pacific and Southern Pacihc po'''
showed losses on their initial transac-
tiona Reading and Lehigh Valley ana
Northern Pacific opened off along with
some other leading issues, but a re-
covcry was soon displayed by the lead
crs. and the market gave better ac-
count of It's operations, which tended
10 encourage its supporters. For
period Of half an hour or so the market
was firm, but there was little activity.
Brooklyn Rapid Transit was one OF the
strong features. Attempts were made
20 stimulate some special interest in
this stock by talking increased divi-
dends. but no response TO this bit Of
bullish gossip was evidenced, as the
stock. while showing strength. was not
active. Ontario & Western, commonly
known as "Old,Woman" by traders, had
4, rise snd some buying Nas shown,
said to be due to the good earnings Of
the road and a possible declaration Of
{, dividend either this year or early In
1918. Trading ran In a narrow chan
mel and the technical position OF the
market seemed to improve as the
morning session came toward the noon
hour. Sporadic bear attacks had
brought out some stop orders and left
.he coast fairly clear for en- improve
rnent. Politics was discussed with
more interest than for the last few
days. Mr.. Wilson'S speeches came in
for consideration, and the impression
Of many traders as expressed was that
81 radicalism gained a larger conspicu-
GUS following through the continued
Efforts OF Mr.. Wilson the market would
reflect the spirit Of that political fol-
lowing IN some certain emphasized
movement. Canadian Pacific was dis
posed to weakness by profit taking
sales. which was no more than WIS ex-
pected as soon as definite information
regarding the company's issue OF stock
should be announced. The question OF
rights TO be given now being answered,
that part of the speculative interest
naturally has ceased. The market ae
a whole, however. held Its strong posi-
ton, and there was sufficient action to
keep a number OF stocks in q position
which gave q supporting influence to
the general list. The equipment stock.
we're strong and Pullman gave another
show of g rising tendency. making
new high for the year. Specielties held
the centre of trading interest and kept
the dulness Of trading from sinking
into q sleeping spell for the entire list.
[. was q peculiar market atmosphere
IrCscuting as it did opposing theories
.aj sentiment. Traders az a class
were more inclined 10 besrishness than
90 optimism. while the important fnan-
"i9l interests Of the street were firm in
Predictions OF better prices. Southern
EaiiWay fnede a new high for 1912,
while St. Louis & San Francisco second
preferred and ST. Louis Southwestern
sold up or good crop reports from the
territories traversed by those roads.
The closing was strong and the last
transactions exhibited special activity.
Trade news was as usual very encour-
aging. and there was nothing OF i'm
portance aside from Washington re-
ports to mar the generally favorable
conditions which have been in evidence