New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-16
STOCK MARKET REVIEW
Early Vigorous Advance Lost IN
Profit Taking Near Close.

Following the opening transaclioAs'
which disclosed considerable pront IAN
ing. the market resumed its upward
movement begun last week, ana pur-
sued a rather consistent course Oh i'i-
provement until late In the day hoe-
ically many traders were doubtful re-
garding the stability of the advance
and argued that q reaction should &C.
cur after such a vigorous rise, out pet
terment in the forenoon was IN the
air and bullishness continued, Win
few offerings of stock and a seeming
dissemination on the part or those
holding securities 10 offer them LOT
sale As on the closing days OF last
week, favorable and unfavorable ru-
Inors were plentiful touching on the
Union Pacific distribution, and re-
vival of the report regarding a segre-
cation Of Reading interests was cir
culatcd.
There was q broadening Of the mar
ket yesterday, and some Of the Indus
trials came in for a good deal OF az
tontion National Biscuit, General
Electric. Woolworth. Sears-Roebuck,
American Can and others were pur-
chased in sufficient volume to cause
an advance in each issue and sharp
rise in the London metal market
brought the copper stocks into re-
newed favor. while the fever OF buying
spread 10 many of the less frequently
traded in shares. Altogether, the rails,
leading industrials and specials devel-
oped an aggressive position on the ia
vorable side. until profit taking in the
last part Of the session finished the
trading In an irregular movement and
left the Street in doubt as TO whether
the market was really in for a good adj
vance.
The fractions came in for recogni
ton. Of which Third Avenue was the
feature, selling up TO a new high for
the present season. There was little
opposition to the rise in prices until
the late afternoon. and while some hes
itation was in evidence at periods dur
ing the day interest in the Street ap-
peared 10 be friendly 10 the advance,
and for this reason more than any
other apparent one the wave Of i'm
provement held sway most Of the time.
until checked in the last half hour.
The days doings, with the exception
Of the Offering Of about 1900 shares
on balance from abroad around the
opening, afforded no special basis for
directing sentiment either way, and
the professional leaders who were re-
sponsible for a continuation of rising
prices moved along a path Of slight re-
sistance in their operations.
AS usual, since the currency meas
ure came into the limelight attention
was turned in that direction. and
further consideration OF tn bill which
will be given by bankers, with
probability that amendments will be
made before the bill can receive the
necessary support to insure its pas
sage, occupied a conspicuous place
among the discussed subjects associ-
ated with the administration. The To-
cal money situation was rather inter
esting in view Of q hardening Of time
loan rates. but in view of tn status
Of money throughout the country. as
evidenced by the disinclinauon Of
bankers TO accept the proffered assist
ance Of the Secretary of the Treasury.
the shaded increase in the rate indi-
Gated more the result Of daily nuctua-
lions than any signs Of tightening Of
funds.
When it is considered that only SIS
100000 OF the available SJO,OOO,ODO. so
far as reported, has been accepted by
the country bankers and that $4,000. 70
600, it is said, has already been re-
turned to the government, the press
ing demand for money throughout the
country does not present itself very
forcibly, on the whole no disquiet-
ing outlook is exhibited at this time.
Call money yesterday was renewed at
. per cent.