New-York tribune., 1913-12-25
REVIEW OF THE
STOCK MARKET
Strong UndertOne on I've
of a Holiday-Prices Rise
Sharply Near Close.

strong undertonc prevailed
throughout the day yesterday in the
stock market, and at times there was
considerable activity in the trading.
At the opening prices generally were
| fractionally higher than Tuesdays
! closing, but with a comparatively
small attendance in the Street and
the fact that it was on the eve OF
| holiday traders were not inclined to
| look for much business. Union Pacii1c,
J United states Steel common, Reading,
! Canadian Pacific and other issues
showed initial gains but before the end
Of the first hour profit taking through
out the list caused slight reactions
especially in Canadian Pacific, New
| York Central and a few other stocks.
Weakness was apparent in Missouri
! Pacific, Norfolk & Western and ROCK
I Island As. but the result was not sur
ficiently harmful to establish a weak
position in the leading issues.
| Strength in specialties, especially in
=. T. Goodrich common and preferred,
attracted attention, hut there was no
reason assigned beyond the rumor that
this stock was being accumulated 10
account for the sharp rise. The mar
ket was rather quiet in the early after
noon. vet not 10 the point Of being dull.
as there was notable strength in
number Of the stocks, especially in
Reading, which was a very strong
feature. and encouraged the brokers to
feel hopeful. as Reading has been con-
spicuous for its wide swings IN the
past. and spectators are inclined to
| accent its movements as an indication
Of coming activity. In the late after
noon there was decided improvement,
and the volume Of business grew as The
movement upward became more pro-
nounced. The closing prices presented
| a list of gains that embraced nearly
every active issue dealt in during the
session: also most of the other stocks.
! Reading common and preferred led in
the net advance, the former having
more than points TO its credit, while
the latter was more than 4 points
ahead.
! Signing Of the currency bill by Presi-
dent Wilson and his reassuring re-
marks about the outlook for big busi-
ness were responsible for feeling of
good cheer throughout the financial
district. Reports from the industrial
centres. however were mixed regard
! ing present prosperity, and offered
| slight encouragement for holiday spirit
THE Iron Age" in its advance review
commented on the holiday shutdown
| of iron and steel works that began on
| Wednesday night. 1t has probably
never been equaled in length or in the
number Of plants involved. The Steel
Corporation has closed down practi-
/ cally all OF its Northern steel works
and rolling mills. and they will remain
| idle until January =, while most of the
| blast furnaces in the Central West and
| Chicago district will be banked for the
same time. The fortnighty bulletin Of
the American Railways Association re-
ports an increase in the idle car sur
plus, showing that throughout the
country there has been decided slack
ening in traffic for the last two months
and car surpluses have shown steady
| advances.
Both the gross and net earnings Of
1 the Southern Pacific company for No
vember showed decreases, which eX-
erted a slightly restraining influence on
| the advancing tendency in the price Of
/ that stock, but at the close Southern
Pacific was counted in the long list of
gains recorded for the day. No change
was noted in the local monetary posi-
ton and call loans were renewed at 81?
per cent.