New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-02
STOCK MARKET REVIEW
Day of Activity. Rising Prices
Strong Closing.

ish activity was conspicuous at nc
stock markets opening yesterday
morning. Everything seemed TO CON
tribute to a cheerful tone, and IKE
the patient who has been conVaiesci"s
for some time and regats his hea''i''
tho market seemed to present rcneweu
health and energy. The majority OF
the shorts were scattered like lou o.
rabbits suddenly scared, and they r"''
"a cover as rapidly as possible. IheEe
were vet remaining tho old fghuils
GRIZZLY hears who never say die unit!
MORALLY wounded. and they remained
on the firing line Of the short slue'
United States Steel, Union facniC'
Reading, Lehigh Valley, Great North
ern. Northern Pacific and Canao'''ii
Pacific of the standard list MADE NerF
strong openings. Canadian PACING was
exceptionally bullish, its gain over
night exceeding s points. Sugar
among the specialties. displayed force
full buying; also Bethlehem steel
American Tobacco and National BIS
cult. The market was supplied with a
vast amount Of stock during the hrst
hour. trading. and toward the latter
end Of that period the rise was checked
but the support was definitely IN EVIL
oence. The general sentiment was so
optimistic that all the parties and their
90 tho tra6Prq II
seemed as though the final conclusion
had been reached, paraphrasing what
the Kentucky colonel said about whis-
key: All politics is good, but some is
better than others. The atmosphei
Of the Street was filed with rumors OF
increased dividends by various cor
porations, and earnings increased so
rapidly on gossip that hardly LISTED
company escaped some favorable men
ton Of earnings betterment. All OF
which may be true, but is not Official
After the realizing had apent most OF
it's force and stock had been absorbed
toward the noon hour, stocks began to
renew their energetic oullishness, with
United States Steel assuming leader
ship in volume Of trading. II was gen.
orally accepted among the commission
houses that there had been an ac-
cumulating short interest stimulated
In expectation Of g. break on the pub
cording 10 movements yesterday the
break, like the Englishman's jockey,
has been delayed. AS the afternoon
trading got into swing the market
broadenet and the uniform strength OF
the upward movement became moro
apparent Such issues as Rock Island
came forward, and while the inspire
ton for the activity Of these issues was
the fact that there was a returning
evidence Of rising prices in the Reid
stocks seemed tc put faith into the
minds Of some traders that the mar
ket was giving an initial showing of
! better things to follow. Louisville &.
Nashville made brisk advance On
small trading and Southern Railway
contributed to the uplift movement.
The day from the first trade TO the last
was one Of fresh confidence and bull
ish enthusiasm. Even in the inter
mittent minutes when, during the fore
noon, PROFITS were taken by the "suro
thing" traders. the effervescence Of ti.e
advocates Of higher levels never lost
all its bubbling, and the record Of the
days transactions displayed very few
minus signs. PennsyivaAia's good
earnings, the continued promising bust
ness reports and a more cheerful tono
In the foreign markets, added to con-
siderable short covering. made a basis
for rapid rise In the stock market
which was unusual.