The Washington times., 1913-08-07
PRICES GO UPWARD
ON PEACE ADV|CES
Texas Oil Is Most Prominent
Feature in the Early Hours
Trading.

NEW YORK. Aug. 7.-Following the
lead of foreign markets, which were up
on reports of re-established peace in the
Balkans, nearly all issues were higher
up on the New York Stock Market to-
day. Texas OIL was the most prominent
feature at the opening. and remained
active throughout the greater part Of
the day. ..-..
Among the gains in the New York
market were: Amalgamated Copper.
u; United States Steel common, u;
Western Maryland, u; Utah Copper, II;
Union Pacific. q; Southern Railway, u;
Reading, u: Pennsylvania railroad, p;
New York. New Haven and Hartford,
Y: Missouri Pacific, u; Missouri, Kansas
and Texas, y; American Car and
Foundry. y; Great Northern preferred.
Canadian Pacific shaded u, while
American Sugar Refining lost the same
amount
At the end Of half an hour Union Pa
cific was up point The transfer books
for subscription of Union Pacific close
today, but the stock exchange ruled
that sales of the issue during the
morning would not be ex-rghts, but
that a due bill would be given for
rights because the company did not
accept the price at which Southern Pa
ciic certificates of interest would be
effective.
The curb was strong. Americans in
London were steady in a morrow range.
Some irregularity in the general list
with continued tendencies toward spe-
cialty improvement was seen. The
trend of affairs induced many to believe
that low prices for the year bave been
seen, and that stocks should BE- bought
with considerable confidence during re-
dictionary periods. There were still ele-
ID, y urNer fsad
reasonable caution in making commit
ments on the long side where stocks
were aggressively advanced, but the
surroundings indicated that the in
vestors should consider the present
levels satisfactory. Spectators found
good profits by watching the standard
issues.
Union Pacific and Southern Pacific
were bought on dissolution develop
ments. Copper and Anaconda were
taken by strong interests. Steel was
well bought. Investors took Great
Northern Northern Pacific and St Paul
on excellent business and crop condi-
ehison, Missouri Pacific, Southern Rail-
way, and Erie. BROOKLYN Rapid
Transit and Consolidated Gas were
strongly bought
At the end of the second hour, the
market developed renewed strength,
indicating a favorable condition for
the bulls.
Continued dry weather over Texas
and Oklahoma led to further buying
at the opening of the cotton market
higher. August made the best gain.
There was a great deal of wire house
buying. After the call, further bullish
advices relative to the weather were
and prices advanced stiil
further.
B. L. Rice predicted that some Of the
best map readers of the country say
that Texas and Oklahoma will get good
rains within the next forty-eight hours.
a little higher on short covering. Fu-
lures and spot in Liverpool were hrm-
Chslds-"steel acts like going higher,
eventually, but ] see nothing to indi-
cate what 1t will do at the moment. I
think it a buy around SOY, as l hear
there are some large stop orders at g.
and S.
There was a good demand below n for
ket acted well during the greater part
of the day, but that it was SO narrow
that II required courage to trade. No
stocks were pressing in either Canadian
Pacific or Steel Copper was strong, up
l5c for both spot and future.
The Chicago grain market was active,
holders Of all grain indulging in liberal
selling, and values showed much reces-
sion in consequence. Corn led the other
markets in the matter Of losses, declines
In this cereal amounting to kc. Rains
were reported in the northern half OF
the corn belt, and this was largely re-
sponsible for throwing over lines by
longs Slight recoveries were made from |
the initial decline on covering by shorts. |
be n
nounced as seen in the corn market, and |
losses in this line were 5-s to IS Rains |
were reported in our own as well as |
the Canadian Northwest, but were not !
enough to prevent the harvesting. Liver |
pool was 1-Sd higher.
Oats showed losses of u to SIS cents, |
with the weakness in corn the principal |
Ipduence