New-York tribune., 1913-07-29
STOCK MARKET REVIEW
Continued Price Improvement
and General Gains at Close.


yesterday confirmed the position Of
strength exhibited during last week
and emphasized the belief that
| throughout the world conditions are
improving. Very naturally many trad
ers expected a relapse from the up
ward movement, and the continued
| higher trend in yesterdays trading
disappointed the waiting bears, who
contended that II was a logical time
| to take profits and that a reaction
| should occur. From the opening both
| strength and activity were recorded
| throughout the list. Amalgamated
/ Copper was one of the features Of the
early Improvement as a result of the
continued betterment in the foreign
| copper metal market.
Among the railroads Great Northern
was distinctive in the forenoon ad-
vance, while Great Northern ore rose
| steadily as q result Of reported opera
! tions on the part of a combination in
| that issue Northern Pacific, Union
| Pacific, Reading United States Steel,
! Southern Pacific and others were very
! firm and enjoyed gains in their open
| ing transactions During the forenoon
! the stock market had the earmarks
| of a genuine bull movement, and for
! every improvement reasons were forth
| coming from the traders which seemed
70 be plausible and disseminated cheer
| full thoughts around the street Even
Chesapeake & Ohio made a sharp re-
| cOvery, while New York, New Haven
& Hartford jumped 11a points on its
| first sale.
In the early afternoon activity slowed
down, but prices remained firm and
! at the close of the session net changes
showed impressive collection Of
gains on the days business. While no
news Of Importance had been received
over Sunday, the disposition OF the
| foreign stock markets to place a favor
able Interpretation on the Balkan
situation was helpful in stimulating
good feeling here. and IN the af-
| fairs Of our own country the rag
| ged edges seems to have been taken
| off, and the street viewed with COM
paratiye indifference political issues
which heretofore played so conspicuous
role in restricting stock market i'm
| provement.
The Mexican situation lost some of
| its intensity and critical appearance
when the attitude assumed by Presi-
dent Wilson was viewed, together with
assurances that conditions in the Mexi-
can Republic have grown no worse II
not any better during the last several
days. The fact that the Eastern
railroad strike had been averted
w2s also q tonic 10 the stock market,
and finally the excellent crop news, in
Guiding higher estimates Of the winter
and spring wheat yields, seemed 10 be
all thatNwas needed TO spread optimism
/ throughout the financial district and
augment the purchasing of stocks
which was in progress at the close or
| Saturday. SO far as could be learned,
/ there appeared TO be little increase
Of public participation in the market
and the dealings were chiefly Of
( professional nature. The bond market
was centred largely. so far as out
side attention was concerned in the
action Of United States per cents,
in which there was little change, but
the tendency seemed TO be toward
weakness.
The local money situation rested very
| easily on the improvement exhibited
/ in Saturdays bank statement, and
| lower quotations were reported for
/ time money on all short maturites,
with slightly softer tone for
six months requirements. The call
money market remained practically the
same as last week, with renewal rates
! at 2ia per cent
/ -0-