New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-16
STOCK MARKET REVIEW
Gains Made in Practically the
Entire List.

gave hopeful air TO the stock market,
and prices opened with a strong tone
and considerable activity. Commission
house habitues, with some degree Of
caution. but with evidence of a better
feeling, were inclined TO the bull side,
and on a moderate scale stocks were
purchased. From the outward appear
ance OF trading there seemed to be
reserve on the part Of the important
Wall Street interests, indicating a fear
that the upward rise might be too sud
den and violent to be Of value in re-
storing public confidence. To prevent
such an occurrence, whenever prices
displayed effervescence, stocks were
freely supplied to keep the bubbiing
from getting over the edge of good
trading judgment. All the standard
issues which have been under heavy
setting pressure during the last two
weeks began to revive, and as the
morning advanced the shorts began TO
realize that stocks were sufficiently
supported to make caution q word 10
keep in mind. This helped the bull side
and induced liberal purchasing, but the
market was held around reasonable
basis Of improvement, sharp recoveries
being confined to the heavier oversold
issues The extreme liquidation or the
best two issues Of the Paris and Berlin
bourses caught London in the midst OF
a settlement period, which tried the
fundamental strength Of the London
market, and it's remarkable strength Is
now being rewarded by confidence
which should materially strengthen It's
position. This improvement in turn
will have a beneficial effect on the New
York stock market, as any occurrence
which depresses or stimulates the Lon
don market is reflected In trading here.
All the attention which has been CEN
tired on the Eastern European field OF
disturbance, If affairs there resume
quiet tone, will be diverted into other
channels, not the least Of which will
be the trend of money rates. Com
mercial activity. both at home and
abroad, will call for large distribu-
ton Of money to supply urgent de-
mands. Rates will harden, but how
much is a question. Doubtless there
will be a tendency to stiffen rates
everywhere, and from present indica-
lions both the Bank Of England and
the Bank Of France will advance their
rates soon, possibly this week. Another
attraction which so far has counted
very little will be politics. Reports
from from all parts Of this country
show that apparently business is ignor-
ing the Presidential campaign, but even
if business continues TO pay. little II any
attention to politics there Is room for
doubt whether the stock market Will
follow the same course. The attitude Of
the stock market leaders may be to ad-
here TO a policy Of fairly active mar
ket, with the balance favoring an up
ward tendency, or, on the other hand,
reactions may occur which will bring
q bout unsettled conditions prior to the
period Of election. The late DAY TRAD
ing yesterday displayed some selling
pressure, which causes prices to react
but the closing quotations were above
Mondays final prices. The news Of the
day from the trade and Industrial CEN
tres was of the usually favorable char
acter, and nothing occurred that could
be accepted as marring the bright bust
ness outlook. The reported signing or
the peace treaty between Turkey and
Italy eased the minds Of traders and
favorably Influenced the market on the
buying side. Foreign trading for the
day was about 10000 shares. 1900 of
which represented the buying side, con-
fined chiefly to the standard rails and
industrials.