Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-04-14
PUBLIC IN Market WEAKNESSES SHOWN
Buying on Larger Scale Than Course Of the Market Again
Professionals Realize. irregular and Uncertain.
TRADERS LET GO OF STOCK STEEL THE MOST ACTIVE
- 81 81
Then Buy Back Shares After Prices Under Selling Pressure at Outset
Higher Levels Suggesting Operations for Shorts
/
STANDARD OIL MEN ACTIVE GAIN IN BANK STATEMENT
Turns Weeks s Up to
Ago. $15oooooo.
Course Of the Market Is Again
irregular and Uncertain.
STEEL THE MOST ACTIVE
Under Selling Pressure at Outset,
Suggesting Operations for Shorts.
GAIN IN BANK STATEMENT
Large Actual Decrease In Loans, But
Excess Cash Reserve Is Up to
$4,000

NEW YORK, April 13.-The course Of
today's stock market was again in the
direction of irregularity and reaction.
Dealings were scarcely more than mod
crate, and for the greater part of the
brief session the undertone was distinctly
uncertain. American securities were
generally lower in the London market
and opening prices here showed a vast
majority of declines. Some Of these ex-
tended to more than a point, notably In
Canadian Pacific and Rock Island pre-
ferred. while acute weakness was re:
hected in American Smelling and some
of the more standard issues.
United States Steel, which held its
was under selling pressure at the out
set, and other surface indications
suggested a renewal of operations for the
short account. In other ways the tone
Of the list pointed to an over-bought
condition and uneasiness over the po-
litieal situation.
New High Record.
Among the few exceptions to the gen.
eral trend were American Can common.
which repeated its now familiar per-
Torrance Of recording new high record,
and American Tobacco, with gain OF
point. Regarding the movement in Can.
the various rumors and reports more or
less industriously circulated as to the
prospects of dividends are not encour-
aged by the conservative faction identi-
fed with that property. The whole list
manifested some inclination toward bet
torment In the second hour on advices
from Philadelphia that settlement OF
the anthracite coal situation might be
reached before the end of the day.
Another importnt factor was the an
nouncement Of q further advance in the
price of steel bars by one of the steel
corporations largest subsidiaries. Final
prices were in most cases the best of the
day, with many fractional gains and a
sprinkling of equally unimportant losses
Decrease in Loans.
There were several interesting features
to the bank statement other than the
large actual decrease in loans, this item
contracting by over $28.OOO,OOO. The cash
gain Of about 100000 was more than
double all estimates, and the increase
in reserve Of slightly more than $1,000
coo brought the excess cash reserves up
the thirteen -million-dolla loan increase
reported by the non-member banks and
trust companies that the burden OF the
week had been shifted to their shoulders.
The bond market was irregular today,
the sole feature being the activity ana
strength of Wabash refunding As. which
rose 2h per cent on circumstantial re-
ports of an early settlement OF the liti-
CATION with the Pittsburgh ter
minal railway. Total sales, par value,
amounted to 81, 662,O 600.
advanced u per cent on call this week.