New-York tribune., 1913-12-24
REVIEW OF The
STOCK MARKET
Further Rise in Prices in the
Active IssueS-SOme
Weakness.

Disrecarding the lower tendency OF
American shares in London, the local
stock market yesterday began business
with some vitality. Heavy realizing
evidenced on Monday continued 10 ne
observed at the opening here, but the
apparent absorptive quality OF the
market made it possible for profit tax
ing to continue, while prices displayed
fractional gains in the active issues
Although the volume of commission or
ders was not large, it assisted profess
sional traders TO work toward higher
prices in the narrow list presented, and
in several respects the stock market
had an appearance of bullishness. The
market situation was not free from ac-
verse indications, but in the early part
of the session traders accepted the out
look with more cheerfulness than had
been the rue in the opening days or
former weeks.
The report that President Wilson
would make a statement Of a reassur-
ing nature after signing the currency
bill was stimulating. and the rumored
voluntary dissolution of some OF the
organizations supposed to he operating
in restraint of trade and violating the
antitrust law gave color 10 a belief
that the days Of antitrust legislation
are drawing to an end and that the in
dustrial situation will he materially
benefited as a result. II was reasoned
that the removal of political Interrupt
tions TO progressive business had been
largely responsible for the destroying
Of confidence in the investing public,
and that a reasSuring statement from
the President Of the United States and
a general tendency on the part Of cor
porations 10 comply with the law with
out expensive litigation will be Of in
estimable value to Wall Street and the
Stock Exchange.
Southern Pacific followed its strength
on Mondav by standing out as a strong
feature in the forenoon. and gossip had
il that an agreement had been reached
between the Southern Pacific Compan"
and the government that would avert a
suit to compel the relinquishing Of Cen
tral Pacific holdings.
The early improvement lost much Of
its beneficial effect, owing to the weak
ness in the Gould stocks-Denver &
Rio Grande common and preferred
Missouri Pacific and Wabash common.
assisted in the downward trend by Ca
madam Pacific and Baltimore & ohio.
Missouri Pacific sold to a new low rec
ord in many years, and its weakness
was responsible for much Of the de-
preston in other issues.
Central Leather fulfilled the expec-
tations Of its supporters recently. as
the company declared a per cent diyi-
dend on the common. In the early af-
ternoon the market displayed a resting
disposition. and there was little in the
trading 20 excite much interest The
bears obtained some consolation from
the 1913 November statement Of eX-
ports Of domestic products. which, COM
pared with the figures of 1912, made an
unfavorable showing
The November statement Of 1912
gave a total Of $153, 100, ,2SG, while this
year the figures show $l3S 4oO, ,333.
Breadstuffs constituted the principal
decline, but there was a falling off also
in the value Of cotton exported. For
the eleven months ended in November
the total for this year, however was
| $3.50 529,6 ,634, as compared with 5000
! OS3, ,151 for the same period ended No
vember 1912. Dulness in the late Of
/ ternoOn, with a ruling firm undertCne.
prevailed among most Of the active ls-
sues Of the day. Pressure was exertcl
| on Canadian Pacific, but in Amalga-
mated Copper there were signs Of fur-
ure Improvement due TO trade reports
which were encouraging apparently
and professional enthusiasm that pre-
| dicted the metal would sell higher N
| the near future. Money continued To-
be easy and call rates ruled at 81 Ter
cent.