New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-06-15
STOCK MARKET REVIEW
Market Turns from DulneSs to
Active DecIine-Prices Lower.

The overnight inducements that some
Vine. start the stock market on jour
ney TO higher levels with hurrah were
lacking yesterday morning, and the mar
ket opened with a dulness ana narrow
ress that were suggestive Of almost 40
rolute indifference. II was ABOUT nan
an hour before there were any signs OF
returning life, and then there was
hardness about leading issues wnlcn was
not destined to send thrilling sensations
I'D and down the spines OF traders
American Can tried little squirt. put II
was short winded after meeting with
some selling and an adverse sentiment
created by the rumor that Daniel u
Reid is going abroad. Virginia Chemi-
cal was weak, but there was some
strength in American Beet Sugar. After
an hours desultory trading there ap-
peared some move toward activity, so-
companied by signs of developing
strength. It was talked on the Street
that the strength was due to news from
Chicago that the Taft and Roosevelt
leaders were in conference and some i'm
tportant announcements would be forth
coming. Just why this conference was
sufficient to give strength to the stock
market was not explained. and like the
lold woman's reason. Just because II
twas accepted in faith and had its effect.
fMalt stocks presented some strength.
the preferred selling up. and other spe-
lrials were inclined TO higher levels.
Eeneral Electric, Sears Roebuck and the
ITobacoo stocks showed strength, but
tLehigh Valley after some upward move
Reversed its position and declined. On
t&ario & Western was weak. and went
dragged along with an overhanging
tcloud of uncertainty until the early
Iafternoon, when it developed weakness.
land prices broke below the level Of Tues
iday's decline and the volume Of selling
increased very materially as the lower
! ment started on the news that Colonel
Roosevelt was going to Chicago. OF
course, the colonel may be used as a
bull argument at another time, as he has
been during the period OF the advance
In the last month, but yesterday his Chi
cago trip was enough to start something,
|. as there seemed TO be nothing else con-
venient TO use as bear argument
Mexican Petroleum. which was conf
IDENTITY given out as the best buy on the
i list some weeks ago. was one Of the
! first to start downward. and it went
/ down easily. little pressure demon
strated that the whole list was willing
TO slide. and downward the stocks went.
with no apparent support in sight. The
anthracite issues sold off, and Cast Iron
Pipe, one Of the recent white hopes" Of
the market, went down in company
In the late afternoon the forceful SELL
ing pressure was relaxed and the mar
ket had breathing spell. but the bulls
did not display any aggressiveness. and
prices made little recovery. American
Can gave another evidence of it's previ-
GUS professional advancement in its par
ticularly weak attitude. declining to 32&,
as compared with 43 few weeks ago.
The day In news was bare save for tho
gossip which grew out Of politics and
speculation as to what may happen in
Chicago after the arrival of Colonel
Roosevelt The foreign markets were
weak. and American stocks in London
developed heaviness on light trading.
Yesterday was the payday in London of
the fortnightly settlement, and money
was In an increased demand, showing
tendency to frmer tone. New York
money was easy. and there were no in
dications of any cause from that quarter
for reduction In the volume Of stock
market trading.