New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-01
STOCK MARKET REVIEW
Fractional Declines at Close in
MANY Leading Issues.

During part of the day, at least, the
stock market yesterday was in de-
batable state, and traders were DIVIDED
in their prophecies regarding the prob
able action of prices during the next
few days The opening was dull, and
gave no sign Of special interest or ac-
tivity. Such changes as were reported
denoted little attention TO values by
either side, and there appeared TO he
supply Of stock at the prevailing Levels.
Illinois Central continued to exhibit
weakness. opening at 100. fraction
lelov Wednesdays lowest quotations.
Naturally, its decline was reflected on
Union Pacific, but the volume OF bust
ness was not large enough TO cause any
apprehension.
Following the initial trading
stronger tone was shown. and prices
advanced rather encouragingly on COM
paratively light trading. Union Pacifc
recovered and sold up to a new high on
the present move. while Illinois Cen
trail gave signs of a rally which rather
surprised the bears. who were con-
WINGED that the market had gone far
enough on its upward trend. The Erie
issues attracted some attention on the
buying side, and United States Steel,
both preferred and common, displayed
remarkable firmness, although in most
Of the list dulness had settled over the
market during the second hour. Sentf-
ment in London was very favorable,
and in the prices sent over on Ameri-
can stocks traded in on the other side
gains were recorded practically through
the whole list, the exceptions being
Canadian Pacific and Anaconda, the
former coming to a point below its
closing price on Wednesday.
London was a buyer in this market
Of about ten thousand shares, which
included all the leading stocks except
Canadian Pacific. The feeling abroad
was reported 10 be on the cheerful
side, due partly to the apparent I'M
provement in political affairs and
further slight betterment in the Bank
Of England return for the week. The
stronger showing made b. the Bank of
France in its weekly statement was
also a factor in the betterment Of for
eign sentiment
During the latter part Of the fore
noon pressure was exhibited here In
Southern Pacific, and this stock broke
sharply on the rumor that the certih-
Gates representing the stock would be
offered TO Union Pacific stockholders at
the price Of So instead of 90. This weak
ness in Southern Pacific was reflected
some in Union, which declined in sym
pathy. The result Of the day was an
array of fractional losses in most of
the active stocks traded in, but there
were a few gains in the list TO suggest
the tone Of irregularity. questions
which have been occupying the atten-
ton Of the country presented no new
aspects yesterday, and there was little
in the happenings Of the day to attract
unusual attention. The crop news OF
the country. irrespective OF reports OF
drouth in the corn sections, gave
favorable outlook as whole.
The local money situation gave no
evidence Of any change and there was
a plentiful supply Of call money. with
renewal rates at 2I7 per cent Time
loans, If anything. were slightly firmer,
but in the absence Of any business Of
importance the tone remained as on
other DAVIS.