New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-10-02
STOCK MARKET REVIEW
Moderate Volume Of Activity
Prices Irregular at Close.

The action OF the stock market yes
terday offered little consolation TO the
expectant bulls. and gave only moder-
ate encoura cement 10 the bears. There
was moderate activity. with display
of some gains over Tuesdays closing
prices. but movements were not vig9r-
Gus. and the shorts were not disturbed
regarding the indicated trend. In ne
initial trading United States Steel was
up as was also Union Pacific, Anal
gamated Copper. Canadian Pacific and
Reading. The rally was the result 81
only limited supply OF buying orders
and after the opening strength hau
subsidized pressure was brought 10 pear
on the leaders and prices sold Off,
The efforts Of those opposed TO bet
terment were concentrated TO bring on
a decline around II O'Clock. and while
a sagging tendency followed there was
no volume OF stock brought out nnd
dulness took possession OF the whole
market. Sentiment was favorably I'M
pressed regarding the coppers on the
showing made in the report OF London
copper statistics and an expectation
| that the Copper Producers Association
statement, which will be made pubic
next week, will be favorable. Around
| the Street interest in the market was
/ lacking, and II was argued that new
stimulus would be required TO excite
any special trading In either direction.
/ Naturally brokers were depressed 10y
/ the Indictment weather. and they failed
| TO respond TO the rumors or the pass
ing news Of the day. Strength In
few specials helped to break the monot-
ony. and American Can displayed some
/ buying. which was supposed TO fore
cast favorable announcement Of some
sort which will be made later.
The statement If the Pennsylvania
| Railroad for August helped to ndd
gloom 10 the occasion, although for the
time being there was no action that re-
fected the desire of traders TO recog-
nize the decrease Z nearly 100000
in net by operating on the short side.
Sentiment was not helped by the Erie
statement for August, which also was
unfavorable. The afternoon session
was attended with irregularity. and the
Rock Island issues declined on an un-
| favorable statement Of earnings for
| August, while New York Central WIS
also depressed by the poor showing In
net made by that system. The topics
OF the day under discussion included
the tariff bill as II passed tho House.
and opinions differed considerably re-
garding the final effect of the measure
on the business interests of the coun-
try after II has been enacted into law.
The possible Union Pacific distribu-
ton was still matter OF considerable
| interest, and some floor traders insisted
that the distribution would be an
nounced at the November meeting OF
the board, but this information was as
unauthentic as other rumors Of the
day and failed in It's purpose OF at
tracing any considerable following 10
the buying side OF Union. The none
tary situation exhibited further relaxa-
ton for time accommodations, but
there were no important offerings or
demands, and rates, while fractionally
lower than on Tuesday, did not de-
velop any volume Of business. The
commercial paper situation presented
quiet appearance, with tendency
toward an easier tone. Call money
was supplied at a renewal rate OF 3
per cant