New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-07-18
STOCK MARKET REVIEW
Prices Irregular at Close
Smaller Volume OF Business.

Sufficient unto the day is the evil
thereof" is a proverb which may be
aptly applied to the stock market these
days. Just when a ray OF hope comes
creeping through the clouds change
comes. and for the time being optimism
is checked just as it is developing
During the days prior 10 yesterday the
fates seemed to be kindly disposed
toward some betterment, and AFFAIRS
appeared 10 be shaping to a point When
Wall Street would experience a turn
toward improvement. circumstances
abroad looked favorable for lessenlng
Of the adverse factors created by the
Balkan hostilities, and the dispatches
indicated that the beginning of the end
was at hand. More cheerfulness was
reported in the foreign investment
market, and what seemed to be the
| elimination of the railroad strike ques-
| ton in this country was thought to
have paved the way for more activity
and a higher range of prices in listed
| securities.
Wednesdays strength failed to carry
over and to be maintained inyesterday's
! transactions, but there was sufficient
| frmness to keep the list OF quotations
| fairly steady Evidences of depression
| in some issues discouraged activity and
! dulness resulted. Weakness was par
! ticularly notable in the petroleum
! 1nCCpc nf
points in each stock for the day. The
early transactions in standard stocks
displayed much activity although
most Of them sold below the high range
Of Wednesday. United States Steel
was a feature of the morning session.
and during the first hour over -9,OD
shares were dealt in at prices close to
or fractionally above those recorded
the previous day. Amalgamated Cop
per exhibited marked steadiness for q
time after the opening as a result OF
London advices reporting higher prices
for the metal in both spots and futures
but. together with American Smelling
was off at the end. Pennsylvania was
an exception TO the rule of the stand
ard railroad stocks, and advanced
while other rails showed declining
tendency, following the reported dis
content among railroad employees over
the provisions Of the Newlands bill.
While a degree Of frmness prevailed
In the market in the afternoon, the
bullish enthusiasm of Wednesday was
lacking, and until the late trading bust
ness was very quiet, and there was
! lack Of broadness which traders ac-
| cepted as an indication OF slowing
| down due to the inability Of market
supporters 10 attract liberal follow
/ p,g. London failed to stand up TO the
| requirements Of the day in point OF
strength until late in the afternoon,
when a covering Of short commitments
produced a steady tone and fairly
| firm closing. The weekly returns OF
both the Bank Of England and the
Bank Of France displayed an improve
ment, although the element Of money
strain abroad is still in evidence. Tho
most Improvement as a whole was re-
Il
vealed in the statement of the Imperial
Bank Of Germany, which continues TO
add to its stock of gold, and by sys-
Etematic course Of curtailment in loans
and outstanding note circulation is en-
deavoring TO provide against any
embarrassment which might result
later on.
on the New York Stock Exchange
irregularty marked the course Of the
days business, with uncertainty pro-
nounced at the close. The current
news provided little Of interest beyond
political lines, and, aside from the an
nouncement Of a 100000 note Issue
by the General Electric Company, items
Of financial importance were few. The
| local money situation remained prac-
tically unchanged. with possibly
slightly easier tendency toward time
money offerings, but call loans were re-
newed at "a per cent in plentiful sup