New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-19
STOCK MARKET REVIEW
FirmneSS and Broadening OF
Market-SpeCiaIS Advance.

A quiet but firm opening OF STOCKS
yesterday was the preliminary of an
other day Of bullish tendencies. Lon
don had come in with a report of irreg-
ularity with such immaterial changes
i'm price movements that no definite
trend could be deduced, so movements
on the New York Stock Exchange were
not influenced in either direction
Stocks in general displayed fractional
gains over Wednesdays closing, and
the feeling as expressed by traders was
that accumulation had been in prog
ress by big interests who would follow
the market to higher levels. United
States steel assumed the leadership on
the bull SIDE and when realizing was
! INDUCED in by some who were willing
to take profits this old standby Of
many previous battles stood proudly
carrying the banner for an advance.
| Union Pacific, though affected by bear
| ish sentiment and some selling. was
well supported Traders who are in
cllned TO take careful survey of the
technical stock situation thought Union
Pacific was in an improved position
and had a better undertOne. The usual
| falling away into a rut Of inactivity
was shown as the time approached the
noon hour, and up or down was in evi-
denCe. St Paul was heavy. while Hi
nois Central was strong. The crop
news was good especially corn, which
the bulls contended would soon be re-
| hected In price betterment among the
grangers. The bears were confident on
| one side and the bulls on the other that
| the quiet attitude of the market fore
| Swallowed movements in each others
! favor The tone was better than dur
| ing the last several days, when stocks
have had spells of stagnation, as there
were instances of threatened activity,
and the symptoms suggested disturbed
slumber which might awaken an up
ward tendency without special warn
| ing. Chicago & Northwestern ad
vanced and other stocks held around
their high prices of the day Although
Missouri Pacific will he benefited to
the extent Of S1,775,0OU by the dividend
declaration of the Iron Mountain road,
the price of Missouri Pacific did not
show any improvement, which caused
comment among traders and gave the
bears hope Of reaction before the
close. In the late trading interest
| Jagged and sentiment was less opti-
mistic than earlier. National Biscuit
and sold off. Baltimore e Ohio was
firm, and exhibited an inclination TO
climb the price ladder slowly. The
earnings Of this road. which have
shown betterment, and the changed
system of operation have given the
Baltimore & Ohio a friendly following.
The market resisted efforts to force de-
Cided reaction at the close. and prices
We're near the high of the day. The
marked advances which displayed plus
signs of more than l point were chiefly
confined TO the specials, such as Ameri-
can Brake, American Snuff, Interna-
tional Paper, Knickerbocker Ice, Re-
public Steel, Studebaker and Westing-
house first preferred. Chicago &
Northwestern. however, had a gain Of
> points. The encouraging crop news
and the reported continued improve
ment in trades generally formed
basis for such broadening Of the mar
ket as was shown during the days
trading.