New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-31
STOCK MARKET REVIEW
Greater Volume of Business and
Gains the DAYS Record.

How much fact may be behind lhe
rumors affecting American Can Will not
actually he Known until the company
directors hold their meeting and dls-
position of the dividend question mas
been made At the present time 'he
most conspicuous topic of the street l.
American Can. Financial papers, up
sters and distributors of "conndehud'
inside information yesterday were
busy irving to make everybody none!
by advising them TO purchase the COM
non and preferred stocks of TINS lnuch
doomed industrial. 1t was said 'ha'
the preferred stockholders would re-
ceive script for back dividends and mat
the common would be placed on
per cent basis 1t was very evident
that spectators, at least, beheNeu U'e
stock would sell higher. as buyers were
plentiful and the advance was as spec
tacuar as during some OF the carrier
periods Of last year. The opening ol
the stock market yesterday dlsplaSeu
firm tone and fair activity. AS 'he
4
morning advanced activity lncreaseu
and the element of strength was iilote
pronounced. The initial sales OF mon
Pacific and Reading were irregular
Union Pacific opened off, while Read
ing showed a gain in its first transac-
tons United States Steel was un-
changed, but Southern Paclhc was
higher and Amalgamated copper
opened at decline Southern Paclhc
exhibited a most favorable tendency
as its action was consistent, ana IL
rose steadily, without eVlncinB any
sensational advances. Throughout the
day the rise continued, with occasional
resting spells and Incidental reactions.
and the close. while not at the highest
points Of the days trading. LETT an ar
ray Of gains which included almost the
entire list. &,
| In the general list of events nothing
developed in the course OF the days
news to change the aspect OF STOCK
market influence TO a more faNorsOie
view than existed on Wednesday. The
political situation was practically the
same; reports from the field or trade
and Industry were neither more de-
pressing nor more promising, and, with
the exception Of the firmer tone on the
foreign markets. which seemed TO be
due more to discounting the future
than from the immediate Improvement
in the European situation, nothing
especially attractive was contained in
the collection Of the days doings. The
Improvement yesterday was such as
might be- expected at any time under
similar circumstances, but IT does not
follow that a bull market has really
begun, although there were number
of the Wall Street prophets who were
sanguine that during the next few
weeks better times, speculatively, are
in store. On the other hand, some or
the large operators were selling Steel
and other securities on the list in suf
ficient volume TO indicate their bearish
feelings. The weekly statements OF
both the Bank of England and the
Bank of France which were published
Yesterday, indicated continued strain
abroad, and offered little immediate
relief in foreign money conditions.
The Bank Of England showed a slight
increase in gold reserve, and its pro-
portion Of reserve to liabilities was
474O per cent. against 1880 per cent
last week. The Bank Of France had
an Increase in gold Of 15,57S,O0O francs,
but silver on hand decreased 1l,321,OOO
francs and notes in circulation in
creased 117,8OO.OOO francs. The local
money situation remained practically
unchanged.