New-York tribune., 1913-06-17
STOCK MARKET REVIEW
Prices irregular at Close, After
Day of Light Trading.

Disappointment was felt yesterday by
the holders of securities when the stock
market failed TO eyince strong, actlVe
tone after the opening. There seemed 10
be several favorable factors to inspire an
upward movement in the early trading
principal Of which was Saturdays very
favorable bank statement, but the ten
dency after initial transactions hau
passed and the business of the day hau
really begun was to take profits' anu
the bulls seemed to be anxious to con-
vert their paper profits into cash
The opening prices displayed some ac-
tivity and gains were shown in Uniteo
States Steel, Reading, Amalgamated CoP-
per- American Can and others, While
Union Pacific recorded a decline, as ala
Interborough Metropolitan preferred. The
reaction that followed the rather faVor-
able opening developed the fact that there
was considerable stock for sale ana weak
ness was shown particularly In CANADIAN
Pacific. This stock was Influenced by re-
ports from Berlin. although 1t was hoh-
day on the Berlin Boerse; the SITUATION
abroad. which developed a sagging ten
dency on the London Stock Exchange
and liquidating sales on Continental
bourses during the days trading.
Operations for foreign account as
whole conveyed little so far as the bal
ance of trading could be accepted as an
indication Of trend. and the depressing
influence that acted directly on the STOCK
market was attributed to professional
Wall Street more than TO changes In ma
tional issues or foreign events. F1nanclai
interests Of the Wall Street district were
interested I'm the developments along the
line OF currency reform, and the an
| nouncement from Washington especially
that President Wilson expects TO send his
message on currency legislation 10 Con-
gress this week. The news that the Dill
will not be confined to any one draft oil
i changes, as outlined under different re-
| form measures already introduced, ou'
will be purely an administration bill, sur
prised bakers here slightly, although the
opinion prevails that essential features oil
the measure will not be new, but will In
sure sound principles of money and bank
| ing and will embody the fundamental
features of the Aldrich-Nreeland plan.
The chief information Of the day was
the announcement Of the Supreme Court
decision In the Missouri rate cases. These
cases in importance Of interest over
shadowed other current events following
as they did the handing down on the
previous Monday Of the long expected de-
cision in the Minnesota rate case. In points
defining the rights of the railroads the
decisions yesterday did not materially
clear the atmosphere of controversy, and
as in the Minnesota rate decision, the
rulings left the conflict between the states
and the railroads probably to be defined
later by some special act OF Congress.
One of the favorable public records which
is of interest 10 the country at large as wei!
as to Wall Street appeared in the report
OF agricultural exports for May. The ship
ments for that month totalled a value OF
( S66 6S3. 40, as compared with S2,S225l5 for
| the same period of 1912. showing a gain
! Of S9,s6l 600 An expansion Of S6l,Sis'2i4
was reported for the eleven months OF
| the fiscal year over the correspondents
| space Of time last year The report on
| breadstuffs and cotton was remarkable
| the former showing a total value oi
! Sl2sls 1856 for the month of May this year
as compared with s5539.5oi In 1912, and
the latter 24005S 42S pounds for May this
year. as compared with l90,9o2,7s5 pounds
in 1912.