New-York tribune., 1912-08-28
STOCK MARKET REVIEW
Strength in Late Trading, and
Prices Generally Close Up.

Recording the operations Of the stock
market these days is like the story OF
the race between Tony and his dog.
Sometimes the dog was little ahead
of Tony, and then Tony was q little
behind the dog. Sometimes some stocks
advance and sometimes some stocks
go down. Yesterdays market dis
played slight difference in its average
OF movements from other previous
days. There was some strength shown
at the opening; then the market sold
off. Sentiment was uncertain, and 1t
was impossible 10 figure the trend from
indicated operation. There had been
belief expressed that If Congress ad-
iourned the market would respond with
all upward tendency, but the an
nounced adjournment Of Congress
brought no such response, and tho Spe-
Gals were left TO do their special feats
of pulling themselves UP, while the
standard issues remained at the
lower levels. 1t Was favorable
day for the former tobacco subsidiaries
and Lorillard and Liggett & Myers ad-
vanced several points. Some interest
was manifested in Corn Products, the
common selling up while the preferred
declined q fraction; the outlook for the
corn crop was the assigned reason Tor
such activity as was shown. Canadian
Pacific came up strong on a good ad-
vance in the London market. The
coppers were somewhat indisposed IN
the morning and took rest after the
last few days Of active leadership. AS
the morning session drew along toward
the noon hour the market had turns
of activity and quiet, and the strength
Of one time was followed by prices
settling back little later. Jhe
strength inspired in st. Louis 81 South
western on Monday, due TO rumors OF
that road being purchased by the
Louisville & Nashville. was followed
by q weakness Yesterday after the de-
nial of any truth in the rumor by the
Louisville & Nashville. Mexican Pc
troleum kept on its way toward higher
prices amid q cluster of rumors ABOUT
an increase in the dividend rate from
4 per cent to G per cent. Some buying
Of Amalgamated Copper set in around
midday on the reported sales OF copper
metal at 171s cents per pound. Amerl-
csn Beet Sugar accumulated consider"
able strength, and q short covering IN
the earlv afternoon caused prices to
advance in several issues. The news
Of the weather in different sections
brought the usual story lately or f2Nor-
able weather conditions. Commission
house sentiment was more bullish than
otherwise, and in most cases customers
were advised that the market was more
Of q purchase than sale, and that
stocks would sec considerably higher
prices later. In some houses, however,
there was a feeling of conservatism
and they assumed that the present
market is so evidently trading ono
that stocks should be sold on advances
and covered on declines. The public is
still watching the market from dis-
tance, and the seasoned prolesslchals
are left to do their scalping and score
profits when possible. There was har-
dening of rates evidenced in the time
money market, and tho inquiry for
funds is increasing. No signs of more
than 3 to 5ls per cent money are now
in evidence, but there is tendency on
the part of some operators TO use eau
ton regarding future commitments.
About closing time the market devei-
oped activity and strength, and the
final prices were around the top Of the
day. Steel, Union Pacific. Canadian
Pacific, Great Northern and Reading
ALL scored good gains. The general list
displayed plus signs.