New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-07-12
STOCK MARKET REVIEW
Extremely Dull Day and Lower
Prices at the Close.

Continued rumblings accentuating the
uncertainty regarding factors having
an influence on the stock market had
tie effect of keeping price movements
under pressure yesterday, and PERIOD
OF dulness prevailed throughout the
session. There have been many dull
days, but yesterday up TO ] o'clock the
market seemed to be trying to estab-
hsh a record for inactivity, and FEWER
than $1,000 shares were TRADED IN
There was not only lack of interest
in transactions, but brokers displayed
apathy TO the degree of not attempting
10 analyze conditions or to advance
reasons why prices should go up or
Gown. For a period Of ore hour there
was not a sale OF United States steel
common, and following that hour only
8 small lot was traded in, and only
two or three transactions in Union Pa
cific were recorded.
Weakness was exhibited in Southern
Pacific, but there seemed 10 be TO rea-
son assigned for sagging tendency IN
that issue. and no news was circulated
TO show the basis on which Union Pa
citic holdings Of Southern Pacific are to
be offered. The opening prices In this
market were lower on the average than
those reported in London Reading
was one of the exceptions to the gen.
eral trend and recorded a fractional
advance in it's initial transactions
Amalgamated Copper, Canadian "a
cific, Union Pacific, United States steel
common, Southern Pacific and Chesa-
peake e. Ohio all opened at prices be-
low their closing quotations on Thurs
day.
The topics under discussion in the
financial district were confined chiefly
I, political affairs, including the tarin
schedules reported to show heavy re-
duction under the rates as speci1ed IN
the Underwood bill, and the currency
question, which had assumed new
angle in the opposition of some OF the
Senators TO carrying on further de-
bates pending tariff legislation. An
other feature Of the Street gossip was
the proposed investigation of the New
York Centrars new financing in con-
nection with the Lake Shore and the
prospect of legislative restrictions in
the trading in agricultural products
Among the banking interests the ru-
NOR that Secretary McAdoo has sug-
gested to some of the banks or the
South that il would be advisable To
apply for emergency circulation under
the Aldrich-Vreeland act created con-
siderable interest, and it was currently
discussed that the prospect for the new
currency bill to be put through this
session is not very encouraging.
Regarding the local bank statement
TO be made public to-day there seemed
TO be some confusion. Last week the
loss of S14,50O,OO0 cash could be ac-
counted for by the withdrawal of vaca-
ton money and the July interest and
dividend disbursements. and the return
OF at least a large portion OF these
funds should strengthen the cash hold
ings this week, in addition TO which
S1OOO.OOO received from Canada could
be added Generally speaking, the call
money rate on Friday is a fair indica-
ton of the outlook for the bank state
ment on Saturday. but irrespective OF
the fact that rates were quoted at "a
Ter cent for renewals there was practi-
cally no call money market, and the
forecast on the whole indicates loss
IL cash as the result of gold shipments
and demands from the interior.