The Washington times., 1913-08-06
STOCKS ARE QUIET
AND FAIRLY STEADY
Traders Believe Advance in
Prices Is Over and Quota
tions Show Dull Business.

NEW YORK. Aug. 6.-At the opening
of the stock market. trading was active,
but the list was irregular. and quota
tions showed a considerable division OF
sentiment. Trading was quiet for the
first hour The opinion was expressed
among traders that the advance was
over At noon the market was dull, ap-
parently resting after rather vigorous
trading during the preceding hour.
California Petroleum again was under
pressure, declining y to ". Canadian
pacific sustained the same amount OF
loss. Lehigh Valley sold OF u, but raj
lied and recovered most of its declines.
United States Steel coclmon began al
61h for the loss of u, but within hall
an hour was selling around SIS.
Illinois Central and Union PACING
showed firmness, each advancing D.
Later both shaded.
Great Northern preferred advanced
u: American Smelling was unchanged
Among the other losses were: Anal
gamated Copper, Y; New York, New
Haven and Hartford. y; Anaconda Cop
per, Il.
western Union Telegraph spurted.
gaining a point. Southern Pacific, Read
ing, and Northern Pacific advanced.
The curb was strong.
Americans in London were firmer,
cablegrams placing a better construc-
situation.
The Great Northern closed it's fiscal
period on June 80 last with approx
imately IL per cent earned on Its
S209. .990,759 capital stock, or little
over 10& per cent on the S231,00o,00O
that will be outstanding when all the
imstallments have been paid by stock
holders on the $210, 100000 additional
stock that was offered for subscrip-
tioE last January.
Comment is heard in investment
quarters that the United States Steel
earnings recently made public and
those for the current quarter war
rant a much higher level for common
stock, ani have had strongly bullish
effect on the general sentiment re-
gardless of future steel trade con-
tingencies.
It is reported that the Standard Oil
Company has bought 5000 shares of
Union Pacific, St Paul, and U. s.
Steel.
Early advices reported no rain in
the cotton belt. generally clear conoi-
tons prevailing with indications for a
continuation of the same today and to-
morrow. The Liverpool market was
steady at a slightly higher price due to
short covering. while spot cotton was
in poor demand at lower prices. The
more favorable crop advices received
was the depressing influence.
The cotton market opened hrm, nrst
prices being from 3 to points higher.
In view of yesterdays break, the short
interest was a little nervous Private
adyices from Texas stated that, not
withstanding last weeks rain, more Is
needed in the southwestern belt fu-
lures and spot in Liverpool were firin.
The Chicago wheat market showed a
decline of p to 11c at the opening on
weaker cables. favorable weather IN
Russia, some relief from dry conditions
in Australia and Argentina, and sener-
ally good reports regarding the quality
and yield of wheat In Europe. Offerings
of European wheat were more liberal,
and the weather in our own Northwest
as well as Canada was generally IA
yorabIe On the break established. the
buying element became quite active. and
values were soon brought back to the
resting spots OF yesterday. In some
cases, slight gains were shown. North
western receipts again were light, aS
also was the case at Winnipeg.
The corn market acted in much the
same manner as wheat durtlg the first
part Of the Chicago session. again the
oi:Iy to recover and >5vanec to levels
above those ruElg at the close of yes
terday. Weather over parts OF the
corn belt was unsettled and rains were
reported in a few places. Oats showed
a los Of about &dxc at the opening,
but this market failed to follow the re-
coYeries shown by wheat and corn.