New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-13
STOCK MARKET REVIEW
An Active, Strong Opening
Fractional Gains at Close.

Even tho cynics Of the market ac-
knowlcTged yesterday that the open
ing recalled former days OF energetic
trading. IT was the kind of market
that father used to make, and there
was the Sd me spirit of buying all along
the list. Not only were prices up, but
the volur compared with that of
recent days. was large and the shorts
ran like a.lot Of rabbits to cover. Some
idea of ~ initial sales may hc OBJ
tanned fr,on the start on. Steel, which
was for 5000 shares al -. Louisville
g. Nashv lie, which exhibited strength
on Saturday, was a particularly strong
stock Se sterday, and Atlantic Coast
Line also exhibited good buying at its
high price Of SATURDAY. Amalga-
mated Copper while firm. did not dis
play any special advance, but its tone
was dccidGdly improrcd over last week.
Atchison. Union Pacific and st. Paul
were purrh ased by what appeared TO
be influential interests. and the buying
gave an Impression OF accumulation
The Rock Island issues and ST. Paul
were also among the rails which came
IN for good buying. Consolidated Gas
continued its rise. and the support was
attributed. along with that Of Union
Pacific and st. Paul, TO the Rockefel-
Ter interests. After such an active
period there was some profit taking
which naturally caused hesitancy in
the progressive upward movement, and
the market had a quiet spell, with re-
duced volume of trading. But the la
dence resisting as they did attempts
TO establish bearish tendencies and
confirming the faith OF the bulls that
there would be a renewal of better
ment after the realizing Of the timid
had passed. Pullman, which has an
annual outing and comes up strong on
good news from the inside, made
marked advance. selling up on reported
good earnings and prospects Of some
thing specially good 10 happen for
stockholders Most everything had a
color Of encouraging news; it was a
good news day up to that period, and
the chronic pessimists had TO take
vacation, as they had no voice in the
proceedings. Even Corn Products had
a lot Of friends who suddenly discov-
cred that the company was to be spe-
at low prices.
BY noon the profit takers had again
Joined the ranks of purchasers and
there was another advance In some
issues Pittsburgh Coal shares were IN
good demand, with all the former ru-
mors and some new ones flying around
for everybody to catch one or more
without money and without price.
Amalgamated Copper and American
Smelling looked like good buys and
came along with an exhibition OF form
that brought important support and
sent them to higher levels. Some OF
the industrials had following which
caused advances to be made, such as
Central Leather. which reached a new
high for the year on the trade reports
which showed an improvement in hides
and leather. Canadian Pacific, Wis
consin Central and 500 sold up on
good reports. There was reaction dur
ing the late afternoon trading, due to
professional profit taking, and prices
eased off from their high points with
narrow trading, but there was no con-
vincing sign Of bearish supremacy, and
at the close prices held In the ma
jority Of the stocks a general range OF
fractional gains over Saturdays finals.
The action of the market suggested a
new leadership in its further advance
TO higher levels. Some OF the old
| timers, Ike Steel, Union Pacific, the Hill
stocks and Atchison, seemed to be al
most groomed to the point when they
will come forward and take away the
sport which the industrials have been
/ having by themselves. Stocks are now
in the hands of important banking
control and In the supply outside there
is reported to be a shortage. This
position Of dictation may be used either
TO depress or advance the market
! Technically the bull side is the favor
ite. but the many a clip" is posi-
Bile in even a well-planned campaign
on either side. The news Of the day,
in addition to generally good reports
from trade and Industrial centres. was
the report Of the Northern Pacihc's
June net gain Of S35S,O00 and the
more cheerful tone reported from for