New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-06-15
STOCK MARKET REVIEW
Strength and Activity Mark the
Weeks Closing Day.

Although Saturday was haH-hoH-
dav. and usually suggests the adop-
ton of precautionary measures on the
part Of traders in weekend commit
ments. the stock market continued 10
disp'av a marked degree Of strength
and retained the firm bearing shown In
Tho movement Of prices on Thursday
and Friday. The opening was quiet
and there were few price changes re-
corded. Being a weekend, the attend
once was not large and the dealings
were confined chiefly to the profess
sional element. In the initial trading
American Can was the feature and dis
plaved a good advance, but Union Pa
cifc. United States Steel, marlborough
preferred and Canadian Pacific all re-
corded gains in the opening movement
prices.
The street was given rumor that
the Union Pacific plan had been APP
proved by the Attorney General and
that on Monday a definite announce
ment would he given out at Washing
ton. No particulars were included in
the supposed information, but discus
sion centred on the belief that 1t prob
ably would be the plan proposing TO
exchange some S3SOOO.OO0 of Southern
Pacific stock for Pennsylvania hold
ings Of Baltimore & Ohio. However,
even II this plan be accepted there Will
remain SSSOOO,O0O Of Southern Pacific
stock to be disposed Of which rumor
did not account for. Some profit TAX
ing during the first hour caused a
slight reactionary movement. but the
market recovered and advanced vigor-
ously in the second hour on the an
nouncement that the Interstate Com
merce Commission would render It's
decision on the application Of the East
ern railroads for permission 10 increase
their rates , per cent. While there
was no hint as TO what the decision
would be. traders were convinced that
IN the light Of recent developments the
decision would he favorable, but II not
II would at least be a satisfaction to
learn that an early decision would be
siven.
A favorable tone abroad reported on
the stock markets materially assisted
q vigorous rise in Canadian Pacific
here. and reflected over the local mar
ket q more cheerful sentiment in view
~ the betterment dn home affairs. The
fact that the French government had
decided TO postpone heavy loans at this
time assisted in imparting a better
feeling regarding the present foreign
money situation. especially as the Bal
kans have apparently reached period
Of satisfactory peace arrangements
which should mean a discontinuance OF
the disturbances which have held
Europe under subsection for many
months.
The hesviest advances Of the day
we're in Amalgamated Copper, Ameri-
can Can issues. American Smelling anc
Refining. American Tobacco. Bethle-
hem Steel Goodrich, Brooklyn RAPID
Transit, Canadian Pacific. Consoli-
dated Gas, Erie. Great Northern
preferred. Interborough- metropolitan
issues, Missouri. Kansas Texas
Northern Pacific, Pennsylvania Read
ing. Southern Pacific, Third Avenue
Union Pacific, United States Steel and
Wisconsin Central There were many
other gains about equal in points. bu
in which the trading was less active
though altogether the volume Of bust
ness was large for a half-holiday ses
sion.