New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-19
STOCK MARKET REVIEW
Good UndertOne and Moderate
ACtivity-PriCeS Irregular.

The weeks introduction Of the stock
market displayed moderate activity
and strength, with O. general showing
of fractional gains over the closing
prices Of Saturday. The speculative
element. which seemed TO be very much
mixed in sentiment, was influenced
toward the constructive side by reason
of some reported participation among
commission houses acting for minor in
terests of a more or less substantial
character Naturally the trading car
ried an air of professionalism. and in
such leaders as Union Pacific, Southern
Pacific and United States Steel. which
became the leader bearish sentiment
gradually disappeared. and the shorts
We're turned to the long side sufficiently
to allow notable improvement
The coppers came in for attention
and prices improved in Amalgamated.
Anaconda, American Smelling and
Refining. Chino. Inspiration and Ne
vada Consolidated. There was some
trading in Miami Copper. but no
change in the price Of stock was re-
corded. compared with Saturdays quo
tations. 1t was a good day for the
specialties, and California Petroleum,
General Electric, Mexican Petroleum,
the Texas Company and others made
! impressive advances and closed with
good gains on the days trading. Read
ing was one Of the rails held in check
as a result of the prospective suit 10
be started which may have some bear
ing on its future operations.
The adverse effect Of the corn crop
situation was not strikingly exhibited
in yesterdays stock market, except
possibly in retarding the impulse
toward further improvement. While
the predictions in the sun sCorChed corn
districts are favorable 10 rain during
the next few days, the overs Sunday re-
ports gave only moderate cheer TO the
hopeful regarding the Improvement
which had taken place. The stock mar
ket. however, was not inclined 10 be
very pessimistic, and while some
irregularities developed there was suf-
ficient strength in the undertone Of
prices TO prevent real depression. In
the afternoon, while dulness was in
evidence. near the close activity set in
and the final quotations bore the ear
marks Of helpful buying and flrmness.
A favorable impression resulted from
the governments statement OF agri-
cultural exports for July. which showed
total Of S47,739,0O0, compared with
$50 1920 for the corresponding
month of 1912. The appearance Of tlte
Northern Pacific earnings for the
month Of June had a stimulating effect
around noon on Northern Pacific stock,
as the statement displayed a gross IN
crease Of 500. 7S2 and net increase OF
S4JS,312. Otherwise the news of the
day, aside from some erratic reports
from foreign centres. afforded little out
of the ordinary, and the topics Of IN
terest practically were the same as On
previous days, touching banking and
currency legislation and other affairs
closely related 10 the Washington ad
minstration. In financial circles some
interest was aroused in the report that
81 100000 Of International Great
Northern 3 per cent equipment trust
certificates recently authorized had
been purchased and then resold on the
basis Of ca per cent.
The local money market reflected
slightly improved disposition on the
part of lending institutions to satisfy
demands, but otherwise no change vas
in evidence. and no inclination was
discovered in money circles TO press
funds on the market. Call loans were
renewed at 24 per cent.