New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-06
STOCK MARKET REVIEW
Irregular Trading Marked
Course of Days Transactions.

Stocks were fOr sale IN SuCn NoluiHe
at the opening Yesterday that what
was intended as an upward movement
was checked. Stocks on their initial
sales displayed gains over Saturday,
and there would probably have been
continued rise had sentiment Of some
of the bears not actuated some attempt
at weakening the markets position by
selling movement. But the bearlsh
disposition was not strong enough TO
force the market 10 "a pronounced de-
cline, and support soon started n re-
covery which brought about a marked
tendency 10 higher prices. The van
gushing Of the early bears was fol-
lowed by a calmness quite usual after
a contest. and while the market was
protected ny an element of confidence
which kept the range of prices well IL
hand there was no attempt AT agrees
siveness by the bull leaders. The mar
ket's relaxation was the restful period
after the vigorous action by the open
ing contest. and naturally enough time
was given for the regular discussions
and a drawing OF inference from the
daily news situations which form an
important part of the traders diet IN
sentiment training. The birth OF the
Bull Moose party at Chicago and
Woodrow Wilson's speech OF accept
ance both were held up as warning
signs against bullish tendencies, on tn"
theory that both held so much uncer-
tainty II was hazardous to operate on
any marked scale Of Importance. Con-
tinued stories of an alarming nature
made a great many OF those who had
supported prices in the first part or the
session begin 10 exhibit signs Of weak
ness. and by the noon hour there was
so much bearish talk the market be-
gan to present weak complexion.
However, the few clouds OF apparent
disturbance did not sufficiently infu-
ence the markets position to bring
about q bearish raid. On the contrary,
Canadian Pacific was strong, and Mis-
souri, Pacific, on good prospective earn
ings, sold up, with some Of the specials
soaring along in q higher atmosphere.
The weather conditions reported to be
unfaVorable 10 corn naturally reflected
unfavorably on the optimism OF many
of the bulls, but the news was not con-
sidered to be positive enough TO war
rant we'll grounded fears Of real harm
TO the corn crop except possibly IN
few exceptional instances.
Around the middle Of the afternoon
trading some animation, which became
a slight sensation OF bullish activity,
held sway for short time and prices
responded, but soon afterward dulness,
which signifed a general lack of inter-
est, settled over the market The
strength in Interborough preferred was
accompanied by q revival Of dividend
rumors, and if smoke is any indication
Of fire and an analogy can be drawn In
an instance Of rumor, there would seem
10 be some probability OF dividends IN
Interborough preferred. The markets
closing was irregular. The industrial
list In most issues displayed tendency
to weakness, while some Of tho West
ern railroads exhibited notable strength.
Considering the fact that London was
closed and no initial basis was afforded
for forming a deduction Of over Sun
day sentiment, supporting traders were
satisfied with the action OF the market
yesterday. The showing OF gross gain
in Norfolk & Westerns earnings for
June had q salutary effect, and feel
ing was rather cheerful az regards
prospects OF railroads generally.