New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-05-21
STOCK MARKET REVIEW
Market Has Relapse After Active
Opening.

The opening Of the market yesterday
during the first half hour introduced All
activity in leading issues strength was
shown in several stocks, particularly
among the speCiatics. There was some
bullish enthusiasm developed in the
standard stocks. emphasized by the an
nouncement Of the advance IN the price
of tin plate and a healthy strong market
in finished steel products. United states
steel indicated that the stock had been
oyersold, which developed considerable
hardness in that and among the kindred
leaders. United States Rubber was one
Of the strongest issues, moving up
points above Saturdays close IN about
twenty minutes The strength in Rubber
WAS due to the companys guarantceihS
dividends Of 3 per cent to the employees
taking stock on the pront sharing plan
which had been announced. The traders
in Rubber contendcd that the company
would not guarantee . per cent dividends
70 employees if the directors did not iecI
confident that the same rate can be pdid
TO all stockholders. American Ice "dN
strong and advanced about point on
the rerort that Charles w. Morse is eN-
pccted 10 return to this country IN July
to take up his business interests.
After the first activity in the market
had run for about an hour the market
sold off and there was tendency to
moderate trading.
During the second hour the stock mar
ket was dull. and after moderate set
back stocks exhibited no particular
rallying power. Union Bag and Paper
which has displayed much strength IN
the past, sold down, and the bull pool IN
this issue appeared to he lacking In buy
ing power Peoples Gas and Missouri
Pacific both showed strength, and In
ternational Paper issues were in evidence
and moved up.
In the early afternoon the market was
quiet and prices were irregular The
Texas Company. which has shown con-
siderable strength. sold down, but made
a recovery later. while some other issues
held firm and indicated some good buy
ing. Commission houses received no or
ders Of importance. and on the floor Of
the exchange there vas no evidence o.
any animation. There was talk OF an
accumulation Of American Smelling and
Refining. though this was questioned by
the bears. and the whole strength IN that
issue was attributed to the position Of
the copper metal market. Bear talk on
American can was circulated, but Can
held fairly well with no decided weak
ness Of undertone The last part # the
afternoon session saw general decline
in prices. and at the close the range 81
prices was very irregular There seemed
to he a general depression settle over
the spirit Of the traders, due To com
hinatior Of influences The low prices
If bond issues, politics and sort Of a
feeling that something may happen all
at once apparently inoculated the bull
side. Canadian Pacific was lower, and its
downward tendency was assisted by for
eign liquidation. The London news was
Of no consequence, except IN copper
issues. which showed strength there. but
foreign strength was not reflected here
IN the closing prices If Analgamated.
Looking az the market as a whole. II
acted like tired person who has been
sightseeing It may wake up and feel
fine today. or II may go into state Of
tndispoeition