New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-08-07
STOCK MARKET REVIEW
BeariSh Tone Checked BulIiSh
Fervor-CIoSe Was Irregular.

There was q lowering bcarishnoss
over the market AT its opening yester-
day. hut stocks began with moderate
activity and prices were steady. Some
gains were recorded, particularly IN
Great Northern. which showed all ini-
tial one-e eighth above Mondays clos
ing. The June statement Of this road
was enc stimulant and the reported bet
torment I'm traffic now going on and the
big CROP prospects, added 10 the tcnir
which made investors and traders an
parently eager 10 he on the buying
side. Northern Pacific, although o.
the same family. did not show the sup
port accorded Ciy>at Northern. ana
opened slightly off from Monday. Con-
siderable selling in tho general list was
evidenced during the first hour 81 trad
ing. and the theOrv for the unfavorablc
sentiment was based on politics ana
general pessimism covering Roosevelt,
Wilson and other phases Of the posi-
bic political outcome during the next
few months. United States Steel
seemed to be under pressure. and de-
clined when other standard issues dis
PLAYED a tendency t. steadiness. Trad
ing slowed into a narrow. dull channel.
and there was little 10 induce activity
on either side from a speculative point
OF view. the possible profits being too
fractional 70 warrant any commission
= ha fols
made a showing OF strength. Stude
baker common rose 70 new high
and International Harvester preferred
was above Mondays closing. Buying
OF interchangeable Metropolitan stocks
brought forth tho same rumor Of other
days, that the company has a plan in
prospect TO pay the back dividends o.
the preferred. This plan, II is said,
will be in the form OF some new scrip
or security Issue. but Ike other ru-
mors affecting the same stocks this
one had no trace OF official authorize
ton and was. not received as Simon
pure" statement.
There was little in the action Of tho
close showed good support, but not
forceful enough TO be significant Of
trend. Stocks held a firm tone during
most Of the afternoon. and there was
q suggestion Of bullish effort between
! and = O'Clock when q slight move
ment like the ripple OF water indicated
4 tendency which traders defined &c
cumulative buying. Intcrborouch- Met
rOpolitan issues in the afternoon lost
some OF their ambition and their rise
was checked. followed by a relaxation
OF buying. which allowed prices OF
these issues 10 decline from the high
OF the morning. The record OF the dav
as IL was yesterday. displayed irregu-
larity and left no impression except
one Of doubt as TO the future. ST
PauIs poor showing did not lend rnucn
encoura cement. but the increase IN
June net 10y the Rock Island lines was
an antidCte, SO. on the average. the
days news had no perceptible effect
The London market which opened
after its two holidays. offered no az
sistance 10 this market. as there were
no evidences OF pronounced tendency
and trading simply held a compare
lively firm position. Money In London
was easy, but the outlook was reported
as indicating a harder tone Local
money was comfortable. hut with tho
reports Of tightening Of money In tn
West it is only question Of time when
rates will he nrmer here. which may
or may not affect the stock market IN
favorably