New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-09
STOCK MARKET REVIEW
Rise in Prices After Midday IT.
reguIarity-Strength at Close.

Events OF great Importance kept
Wall Street from losing interest, but
prevented heavy commitments on
either side of the stock market in the
forenoon yesterday. The question of
the hour, of course, was the tariff
measure as introduced and its probable
effect on the industrial situation of the
country if il should become law.
The appearance of the Copper Pro-
ducers' report, which exhibited a de-
crease of Is, 033.92 pounds of metal on
| April |, leaving total of 1a ,269,2Io
pounds. as compared with 1223O2, 1913
pounds on March 1, was a strong bull
card for copper metal stocks, but under
the influence of a market overhung
with tariff clouds copper stocks ola III
tie except show steadiness in the early
trading. The governments crop report
Of the condition Of grain as Of April ]
was a favorable exhibit, but was not
| important except by comparison, ana
was given little recognition 10y traders
at the time it was made public.
| At the opening of prices yesterday
stocks appeared TO be strong, and
( initial transactions displayed gains
| above the level of Mondays close.
Business did not betray wide ten
dency. and many traders were inclined
| TO await developments and in the mean
time consider the effect that the pro
posed tariff changes would have on the
country. Union Pacific, Reading,
! Chesapeake & Ohio and Amalgamated
| Copper had overnight gains. while
! United States Steel came in unchanged.
Trading was confined to comparatively
few issues. but the professional elc-
ment gave the market showing or re-
markable strength. especially in Le-
high Valley and American Can during
the forenoon session. Around the end
Of the first hour q reactionary tendency
was indicated and weakness was de-
veloped in the Petroleum stocks, and
this was followed by irregularity which
the market preserved until In the early
afternoon, when the bears made drive
on Union Pacific and IT sold off sharply.
This. however. was the last appear
ance of anything like bear movement
and. continuing until the close OF the
session. prices grew firmer, and at the
end gains were recorded in most or the
stocks on the list. Taken as a Whoie'
the volume of the days business was
fairly representative, and TRANSACTIONS
included both the standards and spe-
Gals. Reading. Amalgamated Copper
United States Steel and Union Pacific
were the most active, but American
Can. Chesapeakest& Ohio and Mexican
Petroleum were among the issues
showing marked attention
| A reported improvement IN the lor-
cirn markets was helpful to issues here,
especially in Canadian Pacific, wh'ch ~
q feature OF foreign operations. Ihere
was nothing in the actual developments
abroad to warrant an Improvement Ill
the security markets except that sehu-
ment was encouraged in London on the
reports that MonteneG~7 would give
way TO the powers.
The local money tone was shghti!
harder. call loans being renewed around
4 per cent, but the money market gen
orally displayed some relaxation due 10
a lessening Of demand in different
channels OF trade.
Expressions Of apprehension regard
ing the effect the proposed tarin
changes will have on the trade and IN
dustrial affairs Of this country were
literally given out yesterday by various
interests, and, while many may be
Notwithstanding, the possible harm that
will follow such drastic amendments
can hardly do other than disturb many
lines Of trade which indirectly VIII be
felt in the security markets.