New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-28
STOCK MARKET REVIEW
Moderate Trading, but Firm
ness Prevails in Leading Issues.

The position Of the stock market yes
terday morning was indefinite ana DUST
ness was remarkably quiet for a Moi
day opening in view of the apparently
firm undertone Of prices. a restrain
ing influence was in evidence IS re-
suit of the uncertain situation in Mex
leo but TO an extent this was offset by
the better money situation abroad in
dicated in the announced reduction of
the German bank discount rate, which
was entirely unexpected. The relief
which this announcement afforded was
the more notable, following the appre-
hension existing a few weeks ago re-
garding the possibility of an increase
in the Bank of England rate 10 protect
the gold supply of that institution from
the demands which IT was thought
would be made by Germany.
Interest in the Street during the fore
noon was centred largely in the aHalrs
Of Mexico and traders waited expect
antly for further news from Washing-
ton on that subject and other ques-
lions of a political and legal lmpor-
lance. A disposition TO regard the re-
ported intention Of Ex-Governor Bulk
eley of Connecticut to appeal TO the
courts against the decision of the Mas
sachusetts Public Service Commission
in allowing the issue of New Haven
convertible bonds as bear factor was
evident among some of the profession
ais While the market displayed some
Improvement, dealings were confined to
few issues and there was irregularity.
Rumors were plentiful, designed to be
advantageous to both the bulls and the
bears, touching various Wall Street
matters connected with securities. Rock
Island was a feature in the speculative
interest in strength and activity during
the forenoon trading.
United States Steel was firm and
Reading had a strong tone. The pre-
vailing forecast of the coming quarterly
statement of the United States Steel
Corporation was that the net would
show around 100000 Sentiment on
the steel outlook was given a boost by
the address Of President Farrell of the
Steel Corporation before the American
Iron and Steel Institute. His predic-
ton of another era of activity in the
iron and steel and allied industries was
more impressive by reason Of the
known conservatism of Mr.. Farrell and
his intimate knowledge of the steel
business throughout the world.
The early afternoon carried over a
tone of strength in the active issues.
but dealings were restricted and bust
ness continued TO be dull. While the
Street had thought it possible some de-
cision might be handed down by the
Supreme Court yesterday, no announce
ment from that quarter was made so
aside from the currency legislation and
Mexican matters, there was little to in
terest traders during the remainder of
the day The volume Of trading in
| creased somewhat, with a growing
| degree Of strength in the active
issues during the last hour of the
session, and at the close gains were
numerous, with tendency toward
higher prices in several of the stocks.
Rock Island preferred sold up more
than ?. points and Canadian Pacific
recorded an advance Of 2 points. Mon
etary conditions were slightly improved
in the time loan market, as funds were
offered more freely and rates displayed
tendency to further ease. Call loans
were renewed at per cent.