New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-13
STOCK MARKET REVIEW
Activity and Strength Result in
General Gains at Close.

Nothing in the overnight happenings
warranted an expectation or the re-
markably buoyant stock market thal
prevailed yesterday. 1t was an III
partial market in its display OF acu'-
ity and strength, and included IN us
range of betterment rails, INDUSTRIES
and specials. Beginning with the
onening. an active and stronger pres
entation Of prices caused TRADERS 10
take immediate notice, ana whiIe
among the commission houses the gen
eral feeling at the close of business on
Thursday was that the outlook was for
only moderate activity, with no pro-
nounced advancement this week. the
Street was soon interested, and the
shorts were forced to cover, much
against their judgment, based on the
situation as they viewed it.
A feature of the early strength was
Southern Pacific which sprang into
popularity and gave signs of assuming
some Of its oldtimc leadership. Initial
transactions in the coppers brought ad-
vances. United States Steel began the
day with a gain, while Virginia Caro-
lima Chemical opened , points above
its final price on Thursday. AS the
day advanced the market became
stronger, and such issues as Canadian
Pacific, Union Pacific. Wisconsin Cen
trail Chesapeake & Ohio, General Elec-
trio. Lehigh Valley. New York Central
and United States Steel-in fact, all the
leading issues and the coppers, to-
gether with specials on the list, with
Very few eXceptions-made gains rang
ing from fractions TO several points,
and at the close most Of the high points
CT the session were retained with only
fractional shading among the re-
mainder Of the issues dealt in. In vol
ume the day was an impressive one.
embracing over half a million shares,
and it was the nearest approach to a
genuine bull market that had been seen
in many weeks.
No developments in the days news
at home or abroad contributed par
tcularly to cheerfulnesS and the re-
sponsibility for the improvement in the
stock market was attributed TO the
professional element which has been
operating more or less since a period of
betterment began some weeks ago.
So-called public participation was re-
ported 10 be absent from yesterdays
dealings. but notwithstanding exhibit
tions Of profit taking at different times
during the day the support was excel
lent. and the buying was in sufficiently
large blocks to emphasize the force be-
hud the upward move. The ease of
the local money market, particularly
as regards call loans. makes it con-
venient for professional groups who
operate along lines Of least resistance
to send prices higher especially as at
the present time various disturbing
factors have either been removed or
have subsidized for the period There
were many misgivings regarding the
ability Of the professionals TO maintain
the rise. but the majority Of tie trad
ers in the late part Of the session were
OH the side of Improvement.
In the afternoon trading Union Pa
cific was the chief feature and sold at
the highest price it has touched in sew
eral months, exhibiting a gain at the
close of more than D points on trans
actions involving over one hundred
thousand shares-almost equal TO the
total of several days during the year
and exceeding the total amount dealt
in on numerous half days.