New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-09-10
STOCK MARKET REVIEW
Good Crop and Copper Reports
Market Irregular.

| y distinctly DeariSn tone perNdueu
the stock market at its opening yes
/ terday morning. Peculiar to all
branches of money getting that are
dependent on periodical changes and
happenings for favorable or unfavor-
able influences. traders were looking for
| some unusual factors on which to base
| initial sentiment. The Maine election
! had a return date to fill in yesterday
morning, and traders appeared to think
that the market would await the final
outcome OF political affairs In that
state. The Mexican situation. with the
possibility of international complica-
tons. was also brought into considera-
ton as casting a shadow over the mar
| llet. Trading exhibited no special ac-
tivity until operations had passed over
to the end of the first hour, when there
was an exhibition of bullishness, but it
was met with liberal stock offerings,
and with the exception of some specials
the market made only slight advances.
Sears Roebuck started with another
spectacular move that carried the
stock UP several points before a reac-
ton occurred The rumors OF stock
distribution were flying around, and
the, amounts Of possible distribution
grew as the stock went higher.
The buying was quite general, but
the strength in this speciality did not
seem to carry much influence over the
remainder of the list. American Can
showed improvement, and its advance
was based on the return Of Daniel q.
Reid, whose support OF Can was the
feature of the early spring upward
movement. American Malt came In for
attention. and market gossip had it
that at the next directors meeting the
dividend on preferred would be in
creased and an authorized payment on
the back dividends would be in the
order Of the meeting.
Canadian Pacific displayed strength,
but traders were inclined to believe it
was more the result Of short covering
than real buying for investment Sen
timent around the noon hour was
mixed, and any deduction as TO trend
was doubtful. Every little movement
was taken as an indication of some
thing, and when railroad stocks APP
peared to be heavy II was inferred that
| the big supporting interests were fear
| full of the outcome Of the engineers
wage question. During the later day
he I'll Of nd hrn.lfayo
cussed everything from the bank state
ment to the war strategy. and their
| spirits rose and fell in turns as the
! Kaleidoscope conversational subjects
passed. There were some evidences of
recovery in stocks in the afternoon.
| Wabash bonds made an advance.
The trading near the end Of the ses-
sion brought some increase in activity,
and a few stocks sold up, but the mar
ket in general seemed respondent. The
government crop report, which was very
favorable, failed to show much effect
| except on International Harvester and
the Hill stocks. The Copper Producers
| statement, which also should have been
n bull argument, exhibited little influ-
ence in price betterment. The factor
| that appeared to be the most potent
was money. Rates were higher and
rumors were in the air that some large
loans would be called. Such talk made
traders careful and prevented the i'm
portant fundamental good news from
stimulating a buying movement