New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-09-26
STOCK MARKET REVIEW
Easier Closing After Initial
RiSe-DuII Session.

The stock market was nesleCLtu ~
far as efforts 10 sustain II were CON
cerned yesterday. and aside from some
covering by the shorts at the opening
which caused a fairly active advance
during the first few minutes. niue al
tention was paid TO trading as il
drifted into q desultory condition. ana
prices assumed a sagging tendency
An attempt was made 10 advance
United States Steel and several large
blocks were purchased around the
opening. but the movement did not Gre
ate a following sufficient TO establish
an upward trend. and much Of the
gain made at the beginning was soon
lost
A feature Of the initial exhibition OF
strength was Canadian Pacific which
opened . points in advance Of It's CLOS
ing price on Wednesday, and, while not
in active demand. appeared 10 he plT-
chased for foreign account Stocks
continued 10 have an easy appearance
until toward the end OF the second
hour. when a slight Improvement TOOK
place after which lower prices fol-
lowed. and in the early afternoon the
market had signs Of distinct weakness
Gnd sentiment became very hearish'
The poor statement for August made
public by the Southern Pacific yester-
day was responsible for feeling OF
encouragement, as II showed de-
crease of S194. 900 in gross and loss
Of $4,000 in net. Traders were in
clined to infer from the poor showing
made by Southern Pacific that the
forthcoming August statement OF
Union Pacific would he unfavorabl
and on this assumption Union was
sold. but at the close recorded only
fractional loss.
The statement Of Atchison was more
favorab BILE than that of Southern Pa
cifc. and showed a gain OF $4,000 in
gross and only S13S.O0O decrease In net
earnings. but a reported interview with
President Ripley carried q note Of de-
preston regarding future operations OF
Atchison and Offset any hopeful feeling
that might have been looked for in
that direction II was difficult to crys-
tallize sentiment in view Of the extreme
bearishness of traders, who held the
market under subsection. but that the
tendency was toward lower levels was
demonstrated by the declines which
took place in the standards and spe-
Gals throughout the list. Peoples
Gas in which a pool was supposed 10
be operating and had advanced this
stock TO a new high point in its his
tory this week, sold off easily and
seemed 10 have little support Of sub
stantial nature. New Haven. which
displayed a bullish tendency on
Wednesday afternoon, was allowed 10
sink back into It's old position, and
Texas OIL. Rumely and other issues
which have been looked 10 for SNOWY
advances. owing 10 the supposed pow
erful interests identified with their bet
terment, were listless and heavy. along
with the remainder Of the market.
OF the standard issues Reading ex-
hibited the largest loss at the close.
while Alaska Gold. one Of the recently
listed stocks. was actively dealt In dur
ing the session and had total Of 21s
points gain al the close In the late
trading, which revealed an increasing
dulness, there was turn toward &C
tivity. A slight rallying power de-
veloped IN Amalgamated Copper and
United States Steel, but as a whole the
closing was without feature as indi-
eating a definite trend. Slight encour-
agement was received from foreign
market movements, as the reopening Of
hostilities in the Balkans. together
with the effect Of September settlement
requirements on the money market. re
suited in irregularity on the Cont
mental bourses and the London Stock
Exchange.
The local money market WIS com
paratively easy, and call loans were
renewed at z per cent