New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-12-20
REVIEW OF THE
STOCK MARKET
Prices Higher, Sentiment
Better-Greatest ACtiv-
ity at Close.

Following a course quite usual in the
stock market. little response was made
TO the favorable annual report of the
Union Pacific Railroad on Thursday,
but yesterday morning, after an over
night digest Of the figures by the
Street. the opening displayed bullish
disposition on the part Of traders that
sent prices higher and began the day
with substantial gains in all the lead
ing issues Sentiment was more cheer
ful, and even the currency bill pre-
scented a rosy picture in the prospect
of its early passage in the form 1t has
reached after several amendments.
Union Pacific was the feature Of the
initial interest displayed in the list, and
opened with gain Of Ia points.
Reading on its first sale was q above
its closing quotation on Thursday. and
soon increased it's gain to more than
point
United States steel opened at an adj
vance Of q. while Canadian Pacific
started the day at a price Of PA. COM
pared with it's closing sale OF 2l2ls on
Thursday. New York. New Haven &
Hartford was one of the specially
strong stocks, and its initial quotation
was $685., compared with 6S's its last
price on Thursday. Although Western
Union seemed to he a favorite in the
early trading and was one of the
notably strong stocks, American Tele-
phone and Telegraph. while showing
an improving tendency. was not very
active A disposition 10 take the buy
ing side of the market was apparent
among some traders who had refrained
from long commitments for some time,
and certain commission houses were in
clined to advise their customers to
make purchases in a few Of the most
attractive issues.
The strength in the list yesterday
was not confined to any special group
but the betterment included rails, in
dustrials and specials throughout the
list. Spurts of activity occurred at
different times during the session
when prices responded and what was
looked upon as q favorable symptom
was the retaining Of strength by stocks
during the dun periods. Bull tips were
circulated on almost everything, in
Guiding American can. WoolV orth and
other specialties that had been de-
pressed and largely ignored in recent
s.
the market bounding upward with
vigor not seen before in many weeks.
Everybody seemed to he satisfied with
everything, and prices rose without re-
gard to value. earnings or fundamental
conditions.
The fear of government ownership of
public utilities seems 10 have passed
entirely and. characteristic Of profes
sional spectators. their only thought
was that the market was rising and
that stocks should he purchased. The
shorts were hurriedly sent to the back
ground. and efforts TO cover gave TO
the market an appearance of real bull
ishness. Local monetary conditions
turned easier Yesterday and there was
a slight increase in the supply Of time
accommodations. although most Of the
lending institutions were not inclined
TO make offerings with the January
disbursements so near at hand. The
commercial paper market was affected
also by the end Of the year require
ments. and banks were not disposed to
participate although both local and
country rates remained firm. Call
money was shade easier and re-
newals were made at 49, per cent. The
reported movements of currency for the
week indicated gain in cash by the
hanks to-day.