New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-15
STOCK MARKET REVIEW
No Interest in Price Movements
and Trading Volume Smaller.

Wall Street interest was absor'e ed
largely 10y the movements at Washing
ton, which kept the trading within
limited bounds yesterday and revealed
little upon which to base future eX-
pectations. The opening was the usual
dull and uninteresting Formally which
has characterized each previous morn
ing for some tine, and traders VINO
had expected an improvement follow
ing Tuesdays moderate show OF
strength were doomed to disappoint-
ment. as declines were shown in initial
quotations Of such stocks as Amalga-
mated Copper United states Steel
Union Pacific. Reading. Canadian Pa
cifc and others.
Naturally the analytical rharp was
endeavorlng to assign causes for the
remarkable lack Of interest in stock
operations. and various reasons were
given for the manifest unattractive-
ness of price movements 10 everybody,
including he professional Traders. The
tariff was given as one decided inilu-
ence and some of the oldtimers re-
fcrred to the market conditions that
l IL ,.f al fIgf
the Dingley tariff bill was in Congress.
and called attention to the dulncss that
continued that year until August. so
on that basis a forecast Of a remark
ably dull summer may he expected
this year
The japanese situation growing out
of the California alien land law con-
trovcrSy vas used 10y the sensational
ists of the street 10 view with alarm
the shipment of gold To Paris claiming
that the $2.oeO0UO reported late on
Tuesday as going to Paris was really
for Japanese account There were
other equally IDLE rumors and suggrs-
tions which assisted the followers IF
the market to put in the day and kept
them from succumbing 20 the drOwsi-
ness induced. by the prevailing apathy.
/ The S2.eOD.HO engaged for export 10
Paris on Tuesday makes a total OF
! 100000 on the present movement.
II is possible that further shipments
may occur As the Bank Of France is
still below it's gold reserve. compared
question whether French bankers VIII
deem il advisable 10 cease further IN
| portations. even in view of the IN
/ proved conditions in the Balkans and
the outlook for easier monetary cond.-
/ tons abroad. The foreign markets
yesterday were irregular. and Amcri-
can stocks sold off under the Influence
4 of Canadian Pacific, which was very
weak in Berlin.
/ The news regarding business roudi-
/ tions as reflected in the reviews of the
! trade journals was hopeful some time
ahead. but not especially encouraging
( for the immediate future The 1ron
/ Age" says that the steel trade is inn
/ pressed with the rate at which new
! business is falling off. bat thinks that
a fresh buying movement viii begin i'm
/ the third quarter through the releas,
Of business now held mp 10y the tariff
and other uncertainties. THE Iron
/ Trade Review" carries practically the
same tone. and says that new buying
is at low ebb. with increasing conces-
/ sions in prices and restlessness OF
labor that is disturbing.
Agricultural shipments for April. as
/ reported by the Bureau Of Statistics
gave a favorable view Of our interna-
tional trade Compared with April
1911, the total exports for April This
year showed n gain Of $24 G22 .OjG.
The total number of stocks dealt in
was smaller Yesterday than on Tues
day, and at the close there were many
I losses. but a sufficient number of gains
were recorded 10 give the list an IT.
regular appearance. \ slightly frmef
tone was exhibited in call money. he
ruling rate being around 3 per cent.
but renewals were made at ~ pcr
cent. Time money was a shade harder
but there was lack of offerings and \
limited demand. leaving the market
duh and featurelcss.