New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-19
STOCK MARKET REVIEW
Strong Undertone in General
LiSt--SpeCiaIS Gain.

Those who have consistently ques-
toned the stability Of every upward
movement on the stock market since
last spring have obtained little conso-
lation from the continuous betterment
OF business conditions and the UNDER
lying strength which the market has
persistently shown when bearish at
tscks have been made. Yesterday was
a day full of reported favorable fac
tors, and aside from such influence AS
was naturally cast over the market by
foreign news the stock market re-
ceived much stimulation from indus
trial and banking developments. The
local bank situation presented an en-
oouraging tone in the showing or
gain from the interior and q total net
gain indicating favorable bank
statement to-day. There was no sug-
gestion of an immediate movement
toward tight call money and TINA
money was dull. The assistance which
without a war scare to reflect
shadow over foreign markets might
have been received from LONDON was
not only lacking, but the weakness
abroad caused some fresh liquidation
In American securities which must be
taken care Of in this market. The
action Of the New York stock market
apparently did not take seriously into
account the increase Of hostilities IN
Eastern Europe. The opening offered
a fundamental strength that resisted
some bearish attempts to force prices
to lower levels. The selling included
the standard issues, and there were
fractional declines shown In united
States Steel, Union Pacific, Reading
Amalgamated Copper, Canadian "a
clio and others. The realizing was
considerable, but the market absorbed
Il ike a sponge taking water, and u
was evident from the course OF price
movements that the controlling inter-
ests had the regulation Of trend sub
TACT TO their discretion. During the
proEress of the morning session a bull
ish spirit, with gradually growing
aKgressiveness, was manifested IN
recovery Of prices among the standard
Issues and an advance which recorded
a generally higher range. Between IL
and II o'clock there was fairly active
trading, and by noon the market hao
improved considerably. In the hour
between II and l o'clock yesterday
1925 shares were traded in, com
pared with 3S,450 shares on Thursday,
! Dulness settled over the market In the
early afternoon, but prices remained
firm, and gains that had been MADE
were retained. Favorable reports, In
dicating a beginning Of the end OF the
Utah Copper strike, had a good erect
on the company's stock, which ad-
vanced and at the close showed gain
Of one point. Though the market gave
10 signs Of special activity, 1t held
strong among many leading issues,
Near the close Of the session there was
some attempt MADE to take pEous'
particularly In the industrials, but the
range Of final quotations showed large
net gains by the specials, several
higher prices for standards and the
zone of the market seemed to be opu-
rnIstic. Whether the weakness Of the
foreign Continental bourses Will con-
tinue as a result Of the active warfare
between Turkey and the little eastern
states is a question which viii De an,
swered within a short time and
whether further effect may be reIt IN
this market will manifest Itself equally
soon. The probable future situation
Is debatable.