New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-25
STOCK MARKET REVIEW
Prices Strong at Opening and
Leaders Show Gains at Close.

starting ont under rather fdNOr1Dlc
auspices. so far as leadership was con
| cerned. the stock market yesterday
morning made a brave effort TO re-
cover from its spell of weakness. Ac-
| tivity of a moderate variety and
| frinneSs that made a good showing
were reflected in the initial transac-
tions Reading was the strongest of
| the stocks in the early trading, AMI
from the way ii began its rise TO
| higher levels there seemed to be some
| foundation for theory advanced that
! large interests had been accommodating
Reading for the purpose of taking adj
vantage Of an upward turn which APP
parcntly had arrived. Union Paciuc
was also strong. and traders made
technical deductions favorable TO
recovery of considerable importance.
| All sorts Of rumors were current. In
Guiding one which said that the Union
] Pacific dissolution plan now embraech
| an amendment TO the charter OF the
Southern Pacific Company to allow the
purchase of a large block OF the Hl-o'-
100000 of its own stock held by the
Union Pacific Company. There was
more cheerful outlook In the mindS OIL
| Spectators regarding copper, ana
Amalgamatcd recorded good advance
in its opening price American Smet-
| ing and Refining, however. at the start
did not participate In the advance en-
loved by Amalgamated. and which was
oypected owing to the company's IA
vorable annual report. but in the after
noon responded with a good advance
The opening price of United States
Steel was at an advance over It's last
price shown in Thursdays closing quo
tations. and during the better part OK
the first hour steady gains were visible
among the leading issues and Few OF
the specials. Around II o'clock the
market settled into A state Of dulness
and assumed a waiting attitude In ex-
pectation of a possible decision by the
Supreme Court in the Minnesota "ate
case. The noon hour marked the CLOS
ing Of the morning activity, and after
the news came of no decision by the
Supreme Court some assertions TOOK
place in the ranks Of market optimists.
New Haven sold TO new low. Ainerl-
can Can. Sears Roebuck, Rumely ana
others developed weakness which con-
tinued TO the close. In the late af'er-
noon support was offered to the lead
ers. and on the days transactions SUI
ficient gains were shown TO warrant
the hope that. temporarily at least
stocks were entitled TO further recoV-
cries.
The holiday abroad may have been
beneficial TO this market or otherwlse'
but I'm view of the conflicting dispatches
regarding the foreign situation 1t is
safe TO assume that business ABROAD
would not have been very heavy on tic
huving side. Canadian Pacific, when
has a large following abroad, after
rather dscouraging beginning yester-
dav closed with good gain. Union
Pacific and Southern Pacific Doth
scored advances, the latter being HI
tie larger than the former. The local
money market was somewhat improved
in tone az a result Of the favorable
hank statement on Saturday. There
was no demand for money OF any coh-
sequence for the stock market, so no
test of the genuneness OF the easy
tendency was made. The strength IN
foreign exchange was accepted as an
indication that further gold shipments
would be made this week. probably for
Paris account. Aside from the report
showing an increase In idle cars, the
disastrous storm in the West ana
Southwest and the war news from the
balkans nothing of interest was de-
veloped during the day having mar
ket tendency.