New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-28
STOCK MARKET REVIEW
Dull Trading, with Irregular
Prices at Close.

Money was the iu4lHs lH''''9' III ~
stock market yesterday. 1t kept the
range of prices within limit when
buIIisb tendencies manifested them
selves and prevented any demonstra-
tfou Of active upward movements.
Misunderstanding being Stock Exchange
holiday also acted as repression on
professional bullish tactics. London
trading in American shares before the
New York Stock Exchange opened
showed up better in most of the secur-
ties dealt in. Atchison, Baltimore a.
Ohio. Chesapeake g. Ohio, Denver &
Rio Grande, Erie first preferred, MIS-
souri,, Kansas & Texas. New YORK
Ontario & Western, Reading. Rock ISL
and. Southern Railway, Union Pacihc
and Wabash preferred all exhibited
| gains. A number Of stocks were I'M
| changed. while losses were shown IN
American Smelling, Atchison pre-
| ferred, Canadian Pacific, st. Paul, New
| York Central, Norfolk & Western
| Southern Pacific and United States
Steel preferred The general tone re-
fiected from London was cheerful
which rather indicated better foreign
! feeling regarding the peace outlook, al
though the general deduction is that
between sensational correspondents
and market manipulatOrS little ere
dence can be placed I'm the daily news
| reports sent out. The opening Of the
New York stock market was dull, but
the tone OF trading indicated a steadi-
ness Of prices. Traders who are in
cIined TO the bull side hesitated 10 buy
stocks before the opening Of the money
market, fearful that they might be
caught in squeeze OF dear money,
which would necessitate liquidation OF
their holdings at declining prices.
United States steel and Union Pacific
showed gains on their initial transac-
tions. while Reading, Amalganated
Copper, American Smelling and Cana
dian Pacific displayed losses in their
opening prices. There was no activ-
i itv and trading continued dun
with a slight suggestion of i'm
proyement throughout the forenoon
! session. During the first hour trans
| actions were confined TO the profess
| SIGNALS and only a few stocks were
the forenoon many Of the active issues
! had not made their appearance on the
! board. Among the specials United
States Rubber exhibited considerable
activity and sold up on reports of large
earnings and rumors Of an increase in
| dividends next year. The bull cam
! Daign i'm this stock was attributed TO
( the Brady interests. The copper issues
late forenoon trade but the market re-
! manned duh. as call money later was
| around 9 per cent and the banks had
reported loss of cash 10 the Sub
Treasury and S2JO,OOO engaged for ex-
port to Canada. Central Leather was
given some attention during the morn
ing and responded with a slight better
ment. The afternoon trading devel-
oped very little more than dull. in
different market. Call money loans
| were renewed in the afternoon at So
per cent. as compared with IL per cent
on TUESDAY. Some loans were nego-
tiated during the day az low as ~ per
cent but the easier tone of the market
did not inspire any activity in the
stock market. Commission houses were
inclined to believe that in the event Of
no foreign war the market will show
an improvement next week, after the
money situation grows more normal,
due 10 the return Of the December dis
! bursements. Bankers, however, do not
appear to favor active speculation.