New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-11-06
STOCK MARKET REVIEW
Prices Advance After Opening
Gains Held in Dull Closing.

Regardless of developments over Elec-
ton Day, which had given the Mexican
situation a more discouraging appear
ance, and the continued lack of foreign
buying, the stock market here opened
yesterday With indications of firmness'
although initial transactions displayed
irregularity. Union Pacific in its first
sale was one-quarter off its CLOSING
price on Monday, United States steer
showed a decline Of three-eighths'
| Amalgamated Copper one-quarter ana
New York, New Haven HARTFORD
showed a loss of one-quarter. Reao-
ing, however, opened at a fractional
advance, and Amalgamated copper
after its first sale, turned strong DIS
result of the improved metal market III
London.
Mexican Petroleum. as on Monday
was a weak feature in the early trad
ing, but among the standard issues
rally began soon after the opening Oh
business that carried stocks up 10
point showing substantial gains over
Mondays close. Accompanying the
buying movement was the circulation
of favorable rumors. which included the
reported prospect of gold imports from
Germany and an early settlement OF
the currency situation; also that ahalrs
in Mexico were working toward more
agreeable basis by reason of a olspo-
sition Of Huerta TO consider the de-
mands Of the United States. Opera
tons were thoroughly professional, ana
on the advance enough stock was pro
yided TO cause a slight hesitation be-
fore the upward move was resumed.
BY II o'clock prices were at their
highest points in most OF the issues
traded in. New Haven was an excep-
ton, and sold to a new low record, but
in the convertible bonds when issued
the price was practically unchanged
from Monday, but there was consider
able activity in the trading. Pacific
Mai, was q notably strong speciality
based, 1t was said, on the expected
benefits to be derived from the opening
of the Panama Canal Business, as
rule, during the remainder of the fore
noon and into the early afternoon, was
very dull, and the enthusiasts among
the dealers in the early part Of the
morning apparently lost all interest IN
price movements. There was a general
desertion of the commission houses and
from the floor Of the Exchange, which
left the market in the hands of very
few of the old guard.
Aside from a few specialties during
the late trading there were no signs OF
more than attempted scalping opera
tions, with some recessions from highest
quotations, and even such efforts car
ried a desultory air and promised little
to support a hope Of betterment. Gains
made during the advancing movement
were well maintain, chiefly because
no attempt was made TO force prices
down.
The news OF the day was unimpor-
tant as having any direct bearing on
Wall Street Cper IONS, except in some
minor reports concerning financing
operations and the reviews Of Steel
trade journals reporting a continued
trend downward In the steel trade. The
money market was more favorable, and
in call loans there was q declining ten
dency, the renewal rate for the day be-
ing 4 ..er ent, and relaxing tendency
in time money was apparent, although
the monetary situation as a whole was
dull and uninteresting. A better de-
mand in mercantile circles was report
ed for funds, but trading in CONNER
cial paper was extremely narrow, and
; the prospect is there will be no pusi-
ness until after the return Of month
end disbursements.