New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-01
STOCK MARKET REVIEW
A Broadening Market-GalnS
Recorded at Close.

Tolloving the tendency toward pet
terment exhibited at It's closing o"
Tuesday the market opened yesterus!
with some degree Of activity ana
stocks were noticesbly strong lr""-
ers came to the Street in more oheer-
euI mood but commission houses gen
orally cid not look for a decidedly ac-
tive market. Steel showed an opening
gain Of fve-eighths. The earnings
statement made public after the ciose
of Tpesday's market, which was given
with monthly and yearly comparisons
IN The Tribune yesterday morning hao
been favorably received and had IN
sn,reo fresh confidence In the status OIL
the steel industry and the prospects VI
tbs United States steel Corpora''o" >
hvs,,ass The initial evidence or mar
I.. commencement soon betrayed Signs
ot cessation, and the desuitory spn -
~ trading was suggested WITHIN 'ie
erc+ ,a,f hour Of the session. heao-
+,onorv tendencies were shown ou'
The market retained SUFFICIENT degree
~ strong undertone TO keep ieNe''
v,tb,n fractional ranges CT the gains
recordea little rumor spread aroun'
that the directors Of the American 10
hocco Comnsny would probably declare
an extra dividend within short time'
and this was enough to give American
rohacoo O start toward higher level
Ravers,ng the position Of few DAYS
ago National Biscuit was strong
selling I'D rapidly. while Loose Wiies
showed weakness. Norfolk & western
touched e new high price and seemed
70 be we'll bought. Canadian racine
vas the feature Of the morning, ana
moved I'D easily, gcoring gain or
oyer three points before the end OF the
Arst hours trading. Studebaker exh!b-
,ted Improvement and was ons OF the
favorites IN specially trading. The
tone OF the market was good all during
the morning, though trading was spot
ted and the inclination TO an activ" Dull
market was depressed at times by a
recurring apathy. AS the day went on
the market broadene+ and with It's
reaching out came increased strength
and greater activity. The belan", of
sentiment began 70 show decisively In
favor Of the bull side, and there was
talk Of a general betterment In the
market which would insure an adj
vancing market and some spirited price
movements. Canadian Pacific kept its
bullish activity we'll to the front and
scored further advances over the fore
Moons record. All the roads depend
Ing on the spring wheat districts were
tavorably traded in and reflected the
good crop reports which have been con-
sistently coming in for several days.
The specialties, such as American Can
and American Snuff. responded 10
friendly buying efforts and sold I'D.
The annual report of Brooklyn Rapid
Transit. while showing a decided i'm
provement in earnings, indicating over
| 8 per cent on the stock. as compared
with Z per cent for the previous year,
did not meet with an enthusiastic price
improvement on its announcement. AS
a whole the market kept up its show
ing Of strength TO the close, and gains
were recorded, which gave encourage.
ment for further improvement The
volume of trading was considerably
larger than on Tuesday, and while no
special news Of the day was given out
the oppOrtune period seemed to have
arrived for some movements to be
made. The foreign news was of no
Significance as affecting trading here,
sentiment abroad being mixed. The To-
cal money conditions were practically
unchanged, though the impression
grows that money is gradually assum-
Ing harder tone This should occa-
sion no surprise, as Western reports
show that commercial demands have
caused a tightening OF loans. with a
gradual f1rmness in rates. A shipment
Of 100000 in gold TO Canada was an
nounced.