Salt Lake Telegram | 1913-08-18 | Page 7 | Tone of Stock Market Improves

TONE Of STOCK market mm NFJW YORK, Aug. Is. Report, of rain In states la which srops ware suffering from drought were largely, responsible tor the better tone In the atoek market daring dar-ing the morning. Grain and cotton prices dropped and quotations for stocks automatically auto-matically moved higher and Improvement Improve-ment In crop rr.iape.Ta had a good offset on commission bouse buslnsaa and foreign orders also cams in mors freely, following follow-ing up the rise of American stocks In I . rvioti Fool operation.- which were abandoned when the supply of stocks become too plentiful, were reoumed. Karly gralna were well held through the morning trading, and In some Instances were Increased In-creased Wells-Fargo Express .lumped nearly 10 points to M, a new low record. Bonds ware firm. Stock Ida Oloaa. Amalgamated Copper. 741. American Beet Sugar. 444; American Cotton Oil. 41 bid; American Smelting and Refining. Ill, American Sugar Refining. 104 bid; American Ameri-can Telegraph and Telephone. 110; Anaconda Ana-conda Mining company. III: Atchlenn. Hi: Atlantic Coast Line, ltl bid; Baltimore Balti-more A Ohio. II: Brooklyn Rapid Transit, ft; Canadian Pacific. U0: Chesapeake A Ohio. I7, Chicago A Northweetern, 110; Chicago, Milwaukee A at. Paul. 147: Colorado Colo-rado Fuel and Iron. If. Colorado A South, era. 17: Delaware A Hudson. 117; Denver A Mo Grande, so bid: Brie. 3M General xOsetrle. 144; Great Northern preferred. 1J7: Great Northern Ore Certificates Ml Illinois Central. 147 bid: Interborough Metropolitan, Met-ropolitan, 14: Interborough Metropolitan preferred. 404; international Harveater. 1041 hid: -.olivine g Nashville. 1141 bid; Mleaourl Parlflc. Hi; Missouri, Kansas A Texas, 2U: l-ehlgh Valley, Its. National Lead, Mi; New York Central, tl bid; Norfolk Nor-folk A Western. 104; Northern Pacific, 1114; Pennsylvania, llgg; peoples Oae. UH bid; Pullman Palacs Car. 144 bid; Beading. 1401. Rock Island company, ill; Rook Island company preferred. tl; Southern Paelflc. 9I; Southern Railway, 2ii: Union Pacinc. 14g: United Slate. Hteel. 44. United states Stssl preferred. 1011: Wabaah, 4 Weatern Union. 47 bid. As soon ae epeculatore began to ehow disinclination to follow up the rise, short selling became effective and prices eased off fractionally. There was no pressure of stock, however the Hat fluctuating In narrow faahlon. Southern Pacific, which had erarcely benefited during tbe forenoon fore-noon advance, developed weaknees and fell half a point below Seturday'a close. Advances In the granger, were surrendered sur-rendered before the profit taking salsa were completed. Traders let go their stocks when corn rallied 1. Hkttlmatee by a reliable authority of a further considerable con-siderable shrinkage In the probable yield encouraged some hear selling, but specialties were well maintained, particularly par-ticularly Steel and the ooppera. The market closed firm. Buying revived re-vived in a epasmodlc fashion, but aside from the rapid rise in a few eelerted stocks prices did not recover to their earlier high level. Cneaapeake A Ohio, on which dividend action la expected ehortly. rose brtahly to 474. and the oil stocks eleo climbed emertlv