New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-04-24
FINANCIAL MARKET
Marked Strength in Active
stocks-Money and Sterling
Rates Unchanged.

c.ool,s u,ara strong throughout me
dav the inward movement oelns oaSt'd
IN large part on the favorable turn II
the railroad labor situation. on better re-
norris from the winter wheat belt ana on
+lo rresanoe in the market Of a large
and unwieldv short interest 0ho''S
were active buyers, especially IN Chiou
Pacific. Reading. Lehigh Valley ere
United States Steel and New YORK Cen
,r,, Tho last named issue also was IN
d.r,ard from commission houses for Inc
account Of interests who bene'e 'la'
with the completion Of the cornpah!
big terminal IN this city earnings VIII
erio,. marked expansion. This theory IS
vol founded Reading recovered us
d,,idand and showed considerable gam
IN addition. the rise in the stock nhdlhs
rAenonse in Erie and Lehigh Valley VI
though II NAV he premature to say that
.i,oro uill he no locomotive engineers
etYil<o n is generally believed that tie
willingness Of the engine drivers 10 &c
cent the offer of mediation toreshauo"s
satisfactory settlement Of the diner
1000 fatUeen the employers and me
or,n1ovas. The general market showed
rronounced strength In the AFTERNOON
dealings. Reading, Union Pacihc' LehiCh
Valley and United States steel 'eaolils
tho movement. The large interests Wero
b,,vers and accumulation appeared 70
no under way. Indications of buying py
noonIe who apparently were disposed 10
take stocks to hold for higher prices
p,are effective in inducing the calling OIL
.Lor, contracts and attracting commits
.to,, house operatiOns for long account
~, tho so-called public. At los, Read
inc. Including the dividend mace 'he
equivalent Of 1922 the best price OF the
year and within > points or the hleh-
oct quotation ever recorded for the issue
Tho stock was helped by the good earn
,,,,,, renorted bv the Central Railroad IL
Vow Jersey. which IS controlled by the
poodirp company, and by rumors or an
,rcreaee in the dividend or an extra
d,,.idend Final prices showed no I'M
,or,on, reactions from the best figures
OF the day.
,rba local banks have lost upward OF
81 100000 Oh their operations win 'hc
c,,h-Treasurv since last Friday, owing
-, largo mart TO Geographic transfers Oh
money 10 New Orleans and san fran
cisco. but they have gained on the direct
,,,orior movement, and the chances are
that receipts from nearby and Middle
Western points will more than onset inc
navrnents to the government on the
weeks general movement Of currency
Nancy rates show little change, ana I'M
rortaut fluctuations from prevailing
levels are not looked for In the ilnmedl-
ate future. Demand for accommodation
is fair but the supply of funds aNaliaDIe
for lending purposes Is large, BANK r.
serves here having been materlally
e,rergthoned In recent weeks, while me
co,,nt.y's credit balance abroad has been
substantially increased by the large eH-
cess Of exports Of merchandise over I'M
ports. IN the time money market most
~ Yesterdays transactions were con-
fined 10 short maturities. while III the
call department q somewhat better DC
nand WAS reported. owing TO greater &C
tivify on The bun side Of stock specula
lion. Commercial paper IS unchanged at
4AM4l2 per cent for the best names,
with the demand in excess OF the supply.
Merchants throughout the country APP
pear to be well provided with funds at
the present time, and no marked eXpan-
sion IS looked for in the inquiry for nc
commodation. London houses were in
the local market yesterday for thirty
day loans. bidding 3l9 per cent. but little
business vas done.