New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-01
STOCK MARKET REVIEW
Lower Prices at the Close, After
Session of IrreguIarity.

Fluctuating prices in a market inter-
spersed with hard and soft spots ruled
the course of business on the New York
Stock Exchange yesterday. During in
tervals, while the traders discussed the
tariff, the currency bill, the income tax,
affairs at Albany and other political
questions of the hour, dulness prevailed
and stocks were left TO seek levels Of
fering the most acceptable resting
points. Initial dealings suggested
weakness. and in addition to considera-
BILE pressure on United States Steel,
Union Pacific declined and there APP
peared to be no special effort made to
sustain prices generally.
Persistent rumors continued to he
circulated regarding probability of a
disbursement by Union Pacific, and
definite amount Of 10 per cent In cash
was said TO be the size OF the melon
which stockholders would receive.
Around the noon hour an impressive
degree OF firmness was in evidence,
but there were no signs OF activity,
and business seemed to be in a state
of uncertainty. awaiting some develop
ments that might stimulate fresh
spirit of energy. The Steel interests
absorbed the attention of the gossips
Of the Street, who talked Of changes
among the Independent organizations
which would mean the merger Of one
or more independent steel companies.
The bulls came to the rescue Of United
States Steel around the middle of the
day, and this stock was given some
support that caused II to recover
slightly from its sagging tendency.
In the afternoon prices eased off and
sentiment ceased TO exercise any
cheerful influence, although the hope
full ones maintained a confident expec-
tation Of something of a favorable nat
ure to be announced in the Union
Pacific matter at the regular meet
ing Of the board on November 9.
This did not prevent Union Pacific
selling off in the late trading. and at
the close showing a loss of more than
two points. United States Steel was
the most actively traded in Of any stock
on the list, representing more than
one-fourth the total volume of business
g. laY IL no M q
closed was 1as points, compared with
Mondays final quotation.
Canadian Pacific declined IL points,
while Reading. Amalgamated Copper
and Southern Pacific displayed frac-
tional losses for the day. Third Ave-
nue., which has recently been notably
firm, dropped rs points below It's Mon
day price, while American Can COM
mon showed a small gain for the day.
Foreign influences were inclined 10 the
side OF depression, and as rule dull
ness and a lower tendency obtained in
the London stock market. In the de-
yelopments Of the days news, rail-
road earnings attracted attention, aS
several roads showed falling of In
income compared to a year ago. The
August statement of Reading was com
mented on unfavorably. A decrease in
both gross and net by the Northern
Pacific was reported for the month OF
August; IN the former the loss was
sol. 100. while the net loss was S2Jo'-
464. Canadian Paciflc's statement FOR
August made a less favorable snow
ing, as the decrease in gross amounted
to SS17.256, while the net decrease to-
tailed S756 $40 Missouri, Kansas az
Texas had an increase in gross of S23s,-
947 and a gain in net OF Ssl.Soo.
In the local money market a relax
ing disposition was exhibited in. time
loans and in commercial paper but
for call money accommodations
slightly increased rate prevailed re-
newals being made at 3 per cent.
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