New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-11-21
STOCK MARKET REVIEW
Dull Trading and SaggIng
Prices Except in Features.

Indifferent sentiment and moderate
support kept the market within COM
paratively limited degree Of fuctuatlon
yesterday, but the range Of price levers
did not inspire much hope Of immeul-
ate Improvement. Lingering under
canopy Of repression was the foreign
situation in the early part OF the ud!'
Although one day the news is encour-
aging and peace seems TO be on the
verge Of being accepted by all the IN
terests affected by the Balkan CONNECT
within the next period, from sunrise %
sunset. cable dispatches bring informd-
ton that war is imminent between
Austria and Servia. and Continental
Europe shudders at the thought. Inc
hol1rses have been weak one day ana
strong the next, and so the story mas
gone on. Just what the actual facts
have been has been a guess, so Tar as
could be learned from the ordinary
channels OF news on which the Worio
depends for its daily supply OF EURO
pean information. During the Day the
foreign advisers yesterday ndlcaleo
an Improvement in the announced ar
rangement for An armistice, pendlng
negotiations between Turkey ana the
Balkan allied forces. The general un-
dertone of the foreign markets was re-
assuring also, though it has oeen
demonstrated that when stock markets
have an indefinable trend they are cas-
iIy turned in either bearish or Dulilsh
directions on short notice. There was
some buying of American stocks, now
ever, which should act as stimulant'
If not an inspiration, for the New YORK
stock market. Wall Street, when IL
displayed any interest was in de-
batable mood rather than a buying
one. Politics as associated with the
Democratic Cabinet, foreign ambassa-
dorships and Congressional action were
Fletcherized, and each part Of the
Presidential programme was settled, so
far as the discussions OF the day could
dispose Of issues.
The stock market opened with dull,
listless tone, and traders seemed TO be
| bearish.
Many OF the traders were inclined to
cell stocks, but we're restrained by the
! strong fundamental conditions OF the
country and the fact that though there
| was no aggressive buying there seemed
to be an ample market for all offerings
at slight price recessions. The market
consequently retained dull but steady
tone during the early trading period.
Some issues were bought sufficiently 10
send them to higher levels, among them
being Canadian Pacific, United States
Rubber, Mexican Petroleum, Callfor-
MIA Petroleum, Brooklyn Rapid Transit
and the Texas Company. Considerable
! pressure was placed on United states
Steel, but enough purchasing resist
ance was evidenced to sustain this
stock to merely fractional loss on the
DAVIS trading. In the afternoon stocks
did not display any marked activity,
but the tone Of trading was better.
| The closing left an irregular array OF
| prices, but in the main the list did not
exhibit much except a natural result
| of dulness. Baltimore & Ohio helped TO
confirm the prosperous condition Of the
! country by its record breaking october
| earnings. Some new financing by the
New York, New Haven & Hartford
and an equipment trust by New YORK
Central lines contributed to the days
news features.