New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-25
STOCK MARKET REVIEW
Prices Open Firm and List
Shows Good Gains at Close.

During the early morning radlnS
following the opening on the New York
Stock Exchange Yesterday interest was
centred chiefly in the prospective trend
of prices and the strength exhibited by
the leading issues, which showed siShs
Of bullish tendencies, stimulated by
better foreign markets. Around the
Street there was a discussion Of Presl-
dent Wilson's attitude on currency re-
form and the Suggestions made by the
nine members of the currency commis-
sion Of the American Bankers Asso-
citation at their meeting on Monday.
The problem was too complex, how
ever. to be considered except during
the dull periods, and for the most part
during the first hour attention was di-
rected to the buoyancy Of the market
Amalgamated Copper was a feature
Of the early advance, and American
Smelling and Refining displayed gain
of 10 points on its initial transactions
Around the end of the first hour the
buying movement ceased and the mar
ket relapsed into dulness. There ap-
peared TO be no inclination on the part
of the bears to make commitments
and after a brief breathing spell prices
again became strong and continued 10
show a vitality during the remainder
Of the morning session. Union Paclnc
was one of the features Of the trading.
assisted considerably by the reported
conference in Washington with the
Attorney General, which took place
yesterday. for the purpose Of working
out a plan Of dissolution acceptable TO
both sides.
United States Steel was also a leader
and technical students OF the market
were convinced that all that was need
ed was the publication Of some really
good news 10 bring on vigorous ad-
vance in prices throughout the entire
list. Baltimore & Ohio, which had been
decidedly heavy in the afternoon trad
ing on Monday. showed considerable
recuperation, although not heavily
traded IN. The bulls did not play
many favorites, and the list generally
was supported with an excellent array
of gains at the close, although in vol
ume of business the day was not IN
important one. and in the late after
noon trading was dull and uninterest-
ing. Canadian Pacific, Amalgamated
Copper, Reading. Union Pacific and
United States steel were the features
Of trading, and in this list United
States steel was the leader in the
number Of shares dealt in.
Aside from the Washington news
dealing with administration affairs OF
a direct political nature no inforra-
ton bearing on Wall Street and the
stock market was made public except
the governments weekly weather re-
port, which reflected a slightly firmer
tendency in commodity prices. Up 10
the closing hour Of trading no change
in the Hartman dissolution matter
had been received. except a report shat
tentative agreement had been reached
favoring the stock transfer plan, and
Wall Street was still left waiting and
hoping for an early announcement Of n
definite nature.
The local money market showed 1T
tie change in the tone of call money.
which was renewed at 2 per cent, but
there was no inclination exhibited on
the part OF lenders 10 offer time funds
except for short periods, and the rates
for loans beyond ninety days were
nominal, there being no reported trans
actions The banks were called on 10
make heavy payments 10 the Sub
Treasury which increased the loss for
the week since last Friday In excess
of 81 100000. There was considerable
inquiry for funds to meet half-yearly
settlement obligations among both cor
porations and individuals. but the de-
mand was not sufficient TO affect the
situation except TO curtail some accom-
modations until after the July disburse-
ments.