Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1912-04-16
new YORK STOCK MARKET
Prices Go Higher Despite Some In
favorable Developments.
NUMEROUS DECLINES EARLY
Selling Movement Meets Prompt
Support In Form of Buying
Orders which Soon Efface
the Losses.

NEW YORK, April l5.-Regardless OF
a variety of developments. some Of them
distinctly unfavorable. the stock market
today made another very decided move
In the direction of higher prices.
The initial dealings followed LondOn's
lead by registering many declines of one
to two points and in few isolated
cases the fall was greater. Marked
weakness was shown by the preferred
shares and the bonds Of the Interna-
tional Mercantile Marine company, one
of whose leading subsidiaries Is owner
OF the steamer Titanic"
The selling movement met with prompt
support In the shape OF buying orders
which soon effaced a great majority OF
losses and in some cases brought the
! level well above Saturdays close. BY
midday the movement gathered greater
impetus with high records for American
Can common and preferred. The pre-
ferred stocks closed with a net advance
Of 81 points. while the common was
up ~.
The strength OF United States Steel
issues was another prominent feature
the common stock leading the entire
list The resiliency OF this security was
something of a surprise to many room
traders in view Of the general belief that
its earnings for the quarter Just ended
would probably fall short OF dividend
requirements. The annual meeting OF
the shareholders was held today, but
aside from the report Of the special COM
mittee appointed to inquire into the cor
poratIon's treatment Of its laborers, the
proceedings were OF a perfunetory char
acter.
Copper shares. more particularly Anal
gamated Copper. held a prominent place
In the days operations Directors oil
the company are scheduled to meet this
A.. nNaN I'D ~ haltRNaE
an increased dividend will be declared.
Hartman and Hin stocks as well as
other standard issues participated In the
all-around advance, as did also many
speeialties. some OF the latter rising from
2 to points. In the late afternoon
business slackened materially. but with
out impairment OF quoted values.
Some OF the days highest prices
were quoted In that period and the list
showed no inability TO absorb the days
heavy offerings The closing was ac-
tive, with prices at or within fractions
Of the very top. a late squirt In New
York Central and Union Pacific being
the especial feature.
London was seller here at the open
Ing. but later bought moderate amounts
OF Steel, Amalgamated Copper, the Har-
rlmans and Fries.
Time money worked lower and call
money was easier. Some encouragement
was found In last Saturdays bank state
ment which resulted In a very consider
able strengthening Of local reserves. An
other small shipment OF gold to South
America. probably for London account,
and subtreasury Withdrawals to New Or
leans were among the incidents OF the
day In the money market.
Railroad officials reported Improvement
in traffic conditions In the west. but In
southern and southwestern territories
the floods continue to work hardship.
Unfavorable crop advices were received
from Indiana and Ohio.
Bonds were irregular. but later hard
ened with the raise In stocks. Total
sales (par value) amounted TO Isl 900.
United States government bonds I'M
changed on call
Number OF sales and leading quotations
on stocks today were as follows: