New-York tribune., 1912-06-11
STOCK MARKET REVIEW
Dull and FeatureIesS Market,
Closing Irregular.

Yesterdays opening or the STOCK mar
ket was quiet but strong, and prices
advanced more as a result OF small sup
ply than Of big demand. Sentiment was
Influenced some by the interview with
President Day Of the Equitable Life AS
surance Association, published in Sun
days Tribune. Mr.. Day Is by nature
very conservative, and the fact that he
was so enthusiastic over the promising
conditions Of the country made favor
able impression.
The market dragged along with no
special interest for traders, some stocks
looking weak. others apparently with
strong support at lower levels. ms
prospect of possible disappointment in
the untitled tonnage report was given as
reason for sagging Steel prices. The
interest in the crop report also came IL
for a large share Of attention, and the
fact that Monday was the last day be-
fore the summer vacation for the Su-
preme Court also shared in the gossip
among traders. There was no trading
in the forenoon: 1t was simply case OF
hanging around waiting for the news
The bears found it convenient to stir up
little activity by starting rumor that
Wabash issues would be heavily assessed
| In reorganization, and the stocks SOLD
down easily, there being no support
given. On the other hand, Brooklyn
Rapid Transit developed strength and
sold almost high enough TO make up its
dividend. The chief interest during the
period of the session just before the noon
hour was in the visit paid by officers OF
the visiting German fleet TO the Stock
Exchange The traders were profuse in
, their attention, and business was sus-
pended while the distinguished visitors
were in the gallery. The Steel tonnage
| figures, which became known around the
middle of the day, did not enthuse the
professionals either way The import
accepted by traders was that while the
prosperity suggested in the untitled tom
mage did not warrant any enthusiasm,
the Steel outlook was certainly improv-
ing and there was nothing to encourage
short sales. Optimistic gossip was the
rule on the crop prospects until about
1890 o'clock. when the crop report made
its appearance, somewhat behind the
hour that it usually is made known. The
showing of winter wheat was disap-
pointing, and stocks sold off slightly, bu
there was no evidence of a raid, an1
stocks appeared TO he purchased on goot
orl, I'm daN America v
Snuff, which had such a spectacular rise
last week experienced break whic'
sent il down TO 160. as compared wit:
16I, Saturdays closing price. During
1.-The later trading Of the day Snuff recov
cred part of its loss ard closed at 163
a final 4 points loss on the day. New
York Air Brake was fairly strong an
closed up rs points. The largest vol
ume of trading for the day was in Read
ing. with total of 6S.9n shares, show
ing a final decline as compared with its
closing price on Saturday of rs points
Union Pacific and Steel showed frac-
tional gains, as well as American Sugar
at the close. There was considerable fa-
lvorable talk about American Sugar, an
the buying while not active. had an aS
gressive appearance. Foreign tradine
had no influence in this market, as
American stocks in London developed ne
trend and there was no evident desire &
open new commitments. There is much
apprehension in London regarding the
impending Stock Exchange settlements
as II is feared some failures of more
than passing Importance may be an
nounced. Money Was easy in both New
York and London.