New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-05
STOCK MARKET REVIEW
Uninteresting Session Brings
Small Losses in Some Issues.

terday revealed the uncertainty exist
ing in the minds of traders regarding
price movements. on the bear size
during the forenoon there was dis
play Of apparent force in numbers out
in actual demonstration there was
lack of steam in the selling attacks
Opening transactions revealed lever
slightly under Wednesdays Closing
and among the commission houses anu
on the floor of the Exchange the pre-
vailing sentiment was pessmlstlc.
United States Steel in its initial quota
ton was fractionally under its mai
price on Wednesday. Based on the
less favora BILE reports of the steel ana
iron business in the trade Journals
the predictions were that the stock
would sell lower. but it failed to follow
the line of descent mapped out for IT,
and developed frmness which Kept IL
reasonably steady throughout the day
A number of leading issues exhibited
a sagging tendency. but others dis
played good resistance to selling press
ure which kept the market in state OF
irregularty. In the early part or the
second hour dulness set in and few
stocks developed weakness which con-
tinued during the remainder or the
day. Reading was one of the heaviest
Of the issues. due largely TO the an
nounced suit of the government, and
Union Pacific was also selected as
target for the bears and seemed to be
left without any substantial support.
Most of the interest around the
! Street was centred in crop conditions
and the forthcoming crop report
which, il was argued, will show a
shortage Of corn, hay, potatoes and
other agricultural products. AS usual,
when in a Respondent mood, Wall
Street saw only the darker side, and
yesterday in every direction a dismal
/. picture was pointed out to discourage
cheerfulness. An attempt was made TO
stimulate optimism on the copper stu
alton, and rumors were current that an
active buying movement Of the metal
would materialize around the time the
Producers August statement is made
public, but from the supply OF Amalga-
mated Copper stock there seemed TO be
no excessive demand for II. and, re-
gardless Of the frmness in the metal
market, the stock failed to reflect the
improvement
The reported lack of harmony among
bankers on the currency bill was com
mented on in the financial district, and
the opinion generally prevailed that in
view of the demand for changes in the
bill the measure will not be passed at
this session. The bond market in the
main was firm. and New York City Az
per cents reached a new high level.
one OF the exceptions 10 the rule OF
strength was in government IS, which
sold al 9S, a decline Of IL points below
the price last quoted In contradis-
tinction TO the weakness in 2s, govern
ment IS enjoyed an advance OF nearly
a point above the price at which they
! last sold.
wall street was not simulated by
business in the stock markets abroad.
as in general they betrayed an indif-
ferent trend and dealings were CON
sidera bly, restricted. The reports Of the
Bank of England and the Bank OF
France for the week showed an in
crease in gold holdings for the former,
but a loss Of gold by the Bank Of
France.
The local money market displayed a
less elastic tone, and call money rates
were firmer. ranging 10 above 4 per
cent, while the renewal rate was "a per
cent. There was a hardening Of the
tone in time money and offerings were
fewer than on former days.
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