New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-07-26
STOCK MARKET REVIEW
Changing Sentiment Influenced
by General Electric Prices.

In an atmosphere OF rumors OF coh-
flictlns effects, but under the leader
ship Of General Electric, the market
started yesterday on its days expert
ence. Some OF the stocks ike o''
Paul, showed strength In ADDITION 10
the electric energy which was holding
the market up, but there was de-
cidedly bearish sentiment among man!
traders, which held in check what
seemed TO be favorable opportunity for
a marked advance in prices. A notice
able contrast was shown between the
market tendencies Of two similar
stocks, National Biscuit and Loose
Wjles. The former exhibited weak
ness. while the latter was strong, max
ing a new high record in its rise since
being listed. Steel was fairly strong,
but its activity was not particularly
| impressive. Dulness soon settled over
the market, and prices became mere
matters Of record, instead Of rapidly
fuctuating fractions. While CONSOLE
dated Gas was firm and showed some
improvement in a rapid rise at first, 1t
soon lost its force and became quiet.
international Paper preferred in the
specially list was quite weak, While
Texas Company was boosted some by
its supporters. The speciality list was
the magnet and the standards were
gradually neglected as the forenoon
went by, and there was the usual num-
Der of tips around to help the strong
and send down the weak ones. Loose
Wiles was selected as the favorite TO
surround with q halo Of good prospects,
and American Ice was given flying
start by the usual methods of pool OPP
orators. Tho sentiment was much
divided, however, and toward the noon
hour the bears made a drive on stocks
and prices went off with comparative
ease. These was support in evidence
on the decline and prices showed dis
position TO recover, particularly as
General Electric made some rapid
movements after the announcement of
stock dividend Of $50 a share in adj
dition to its regular quarterly payment
Sentiment went through quick trans-
formation under the influence OF the
General Electric Company's official
melon cutting, and the market began
TO show improvement. The Hill stocks
showed an improvement and the tone
of the market continued to show a bet
terment. The late afternoon brought
an active and higher range Of prices
and the shorts wero brought to the
point Of covering, which kept prices up
as the stop orders were reached. There
was no special evidence Of aggressive
ness on the part Of the buyers Of stock,
and the action Of the market was
favorably commented on as indicating
healthy tone instead of fashy spec
tacle. The usual weekly return OF the
Bank Of England, which appears on
Thursday, was not overconvincing In
its showing as to the satisfactory trend
Of the financial tone In England. There
was a slight decline in the proportion
of reserve to liabilities and the state
ment indicated a strain. which, In view
of a continued foreign demand for
money, may bring an increase in the
rate by next month. The local money
outlook suggested a slight hardening OF
rates. though at present money is COM
paratively easy. The later movement
of crops, however, Will probably show
sitter rates and curtailment Of loans
East and West. The market closed
well up, but there was slight recess
sion In prices.