New-York tribune., 1913-11-26
REVIEW OF
STOCK MARKET
Turn to Activity After Ex-
treme DulneSs of Pre-
viOus Day.

The active turn taken by the stoCh
market yesterday morning was not un-
| expected by Wall Street in view of the
! extremely dull session on Monday ana
! the strain of suspense which had huns
| over traders for a week before. Not thal
] the news from Mexico Indicated any
| Improvement but there was action. Inc
oDposing forces were reported to be III
| battle. and this in itself suggested the
! beginning of an end which would estdp-
| lish the supremacy Of one side or the
other A decisive victory by elIner 'he
rebels or the federals would not neces-
sarily mean peace in Mexico put wan
| Street was not figuring beyonu 'he
| thought that sufficient unto the day
/ is the evil thereof" so the professional
interests assembled their forces ana De-
gan bidding the market up at the open
/ ing.
A leader of the Improvement was
United States Steel, upon which was
centred so much attention on Monday.
Union Pacific also displayed gain in
its initial transaction, and Reading was
notably strong in the early trading.
| Southern Pacific and Canadian Paclnc
were among the favorites in the morn
ing purchases. and during the first hour
the volume of business was in excess OF
the total dealings for Mondays entire
session. and the bears focked over to
the bull side in double-Quick time.
During the second hour activity sub
| sided. but the firmness In prices con-
| tinued.
! Sentiment in this market was as
sisted by a better report from London
which reflected a more cheerful tone
abroad and an activity on the London
! Stock Exchange The betterment or
prices here was not confined 10 the
leading issues, but advances were re-
corded among the specials also. The
quiet tone that came over the market
| in the late forenoon continued until
| toward the end of the session, when
| there was a resumption Of bullish ac-
| tivity. Interest in the Mexican sltua-
ton. currency legislation and the rail-
| road hearings before the Interstate
| Commerce Commission was accentu-
ated by the developments OF the day.
The figures compiled by experts that
were made public backed up the con-
| tention Of the railroads for an advance
in freight rates, and this was accepted
| as a favorable factor by Wall street.
An unfavorable aspect was presented
in the discussion of the banking and
| currency act before the Senate. The
| attitude of Senator owen toward East
ern bankers. who has made sensational
charges against Wall Street, impressed
| conservative men in the financial dis
trlct as most unfortunate in connection
with a measure Of such importance to
the business and money interests Of the
| country as a banking and currency act.
Very little in the way Of definite news,
aside from the cable dispatches, came
out during the day, and at the close OF
trading Il was not easy 70 discover real
causes for optimism, except that any
change should be on the constructive
side, owing to an oversod condition Of
the market. More gold was shipped to
Canada, and with the S2,2JO,0OO re-
ported Yesterday a total of S6,3JOOO
has been sent across the border during
the last week. Local banks continued
to lose on Sub-Treasury operations, but
no effect was shown in the call money
rate, which was renewed at 2% per
cent, while time money was slightly
easier. The comparative betterment in
the foreign monetary position was en-
phasized by a most favorable weekly
statement OF the Bank Of Germany.