New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-29
STOCK MARKET REVIEW
Broader Trading Prevails and
Hiuher Prices at Close.

more energetic and bToadened 10 a con-
siderab extent in the scope of trad
ing as compared with former recent
sessions. From the opening activity
and higher prices assumed an initla-
tive that changed the falterers TO the
firm side and gave TO the appearance
of the market a bullish coloring more
distinct than on any day since the
semi-reactionary and uncertain ten
dency began. The restraining influence
caused by the seemingly critical status
OF affairs in Mexico was cast off yes
terdav. and an impression took
strong hold that the worst point had
been passed and that nothing more
serious than has been witnessed so far
as the United States might be involved
would result.
Stocks were selected by commission
houses for their customers to purchase
and the attendance in the Street was
larger and the tone more optimistic
than had been exhibited for several
DAYS. United States Steel was very
strong feature. and tips were freely
distributed that the price was the
lowest that will be witnessed for some
time. Southern Pacific was selected by
operators as showing great possibilities
from a market point Of view ana II
was argued that the price had been de-
pressed by the arbitrage operations De-
tween the stock and the certlhcetes ana
that the period for these dealings VIII
soon have ended. American can com
mon came in for attention from Ger
tain interests who have been Identified
with its fluctuations in the past ana
this stock was both strong and active
The copper issues were favorites on the
| buving side and there was an IN
creased strength in New York. New
Have & Hartford, and at the close this
issue was among those recording good
gains.
During the forenoon and into the
early afternoon the standards and the
snecials both enjoyed favorable ad-
vances. but at no time were there any
violent movements TO indicate an I'M
orderly disposition on the part OF the
professionals TO bring on a runaway
advance. The situation was not with
out its adverse side in the sentiment
exhibited in the Street, and there we've
many who did not accept the encourag-
ing view regarding Mexico and pointed
ont that the mere suggestion Of the de-
parture of American citizens from Mex
leo was a sign of expected trouble. AL
the close of the market, however. the
gains recorded definitely settled the
remembrance Of strength over weak
ness. so far as the days operations
were concerned, as all the leading &c
| tive securities and the minor stocks
displaying any activity were on the side
Of improvement.
In addition TO the better feeling re-
gardng Mexico there were other rae
tors on which bullish sentiment could
be based. The estimated dividend dis-
bursements for September will amount
| to over S11 100000, as compared with
| S1OS.OO0OO0 for the corresponding
month in 1912, and the international
monetary situation. based on the re-
turns of the Bank Of England and the
Bank Of France, displayed further inl-
| provement. Locally money was little
frmer for call loans. and the prevailing
rate was 22s, compared with y. IN
previous days. a somewhat easier ten
dency prevailed in time money and
some loans were reported over the year
period. Local banks were not disposed
to go beyond the limit Of conservatism
ir their offerings Of time money, but
the tendency was toward meeting
legitimate demands that may follow as
result Of business improvement, and
there appeared TO be plenty or money
for all practical purposes.