New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-09
STOCK MARKET REVIEW
Early Trading Shows Firm Tone
Reactions in Afternoon.

The relaxed tendency in money when
has been evident for several days con-
tinued yesterday, and the first an
nounccment of gold expectation In sew
eral months was made The amount OF
this first expectation of the year is
81 900 900. and it's supposed destination
is Paris The favorable money trend
did not exercise much influence in the
early trading on the New York Stock
Exchange. The initial sales yesterday
displayed comparatively few price
changes, but these were mostly on the
side of betterment in the standards and
some of the specials which have eXhib-
tied weakness lately were strong yester-
day. Reading. Southern Pacific, Cali
fornia and Mexican Petroleums, Texas
Company and United States Rubber
were among the features of strength in
the opening transactions. There were
also initial gains in Beet Sugar and
Western Maryland. The latter held its
advance and gained more than points.
Denver & Rio Grande was marked up
sharply on rumors that the Union Pa
cific after its final separation from
Southern Pacific would make some ar
rangement for the use Of Western Pa
cific as a connecting link to San Fran
cisco. United States Steel appeared to
have settled into a narrow zone, and
while very dull did not betray elements
of weakness, ranging during the day
from 67ss to 6Sls, closing with a frac-
tonal loss. Firmness prevailed in the
general list during the forenoon, but in
the afternoon session there was ten
dency to recessons, and the closing OF
the market failed to develop any buy
ing energy. The Copper Producers
statement. which appeared during the
day. showed an increase Of 19,149,0O
pounds in stocks on hand. This was
Unexpectedly large, and its announce
ment was followed by selling OF
Amalgamated Copper particularly,
which caused loss Of 2 points on the
days trading. The foreign news of the
day indicated that the period Of final
peace negotiations is approaching, and
the tone of the European bourses was
cheerful. with a general improvement
in investment buying. The news Of the
day as affecting the stock market aside
from the announcement Of dividend Of
IL per cent TO be made on April ] on
the Third Avenue Railway adjustment )
per cent bonds was OF no importance.
The tendency of traders to discuss public
questions was very strong In the after
noon, and matters connected with
finance were handled with considerable
freedom among the floor traders and
the commission houses. The chief sub
ject which came In for comment was
the money situation, which is due to a
currency system that relaxes and
| tightens as easily as the weather
regarding the final settlement of the
! Union Southern Pacific dissolution as
well as the future OF Western Mary
land. The report Of last months iron
production in the United States was a
record breaking one for the year. The
iron and steel trade reports for the
week, made public yesterday, show that
since January ! the favorable condi-
tons which prevailed in the old year
have continued, and the prospects are
bright for good business in all steel
products. Among the leading financial
interests, however. there is some doubt
regarding the course of the near future