New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-10
STOCK MARKET REVIEW
Trend Uncertain, but Undertone
Was Firm-CIoSing Irregular.

Tho deduction to be made from Iho
notion Of the stock market yesterday 10
rather favorable, considering the IN
dertone of strength exhibited Whe"-
ever concerted effort was mace y!
the bears TO break prices. No'"l"-
standing the favorable news or IhuiS
dav tho opening was dull and tnged
with irregularity. Trading was nio'e
Of a desultory character than OF an IN
torestinr nature, and professionals
movements were not vigorous enough
IA attract a following on either sloe'
Union Pacific opened at an advance
while Southern Pacific recorded an mi
,ial decline. United States steel ana
Amalgamated Copper displayed 'ne
same prices in their opening quotations
as they did at the closing on Ih"'S-
day.
Reading vas up on its initial trans
action. while Chesapeake & ONO ana
Canadian Pacific sold off. Under t"9
influence Of such mixed presentation
Of sentiment the bears were encoui
AGED to attack prices, and the result
was that lower levels were reached IN
which New York Central toucheo
new low point while pennsylvania
went down in sympathy. There was
considerable weakness also In special-
Ties like Laclede Gas, Underwood type
writer and few others, but IN tl'e
early part Of the second hour Tue
shorts we're made to cover and snort
spurt of bullish activity followed car
rvirc prices TO higher points
The rally. however, did not continue
and around the noon hour there were
signs of heaviness in number OF Is
sues and the market settled into
epiritless affair. which continued praC-
rcal1v throughout the remainder Oh
the day. The fact that the market
showed a resistance 10 pressure ala mo-
inspire cheerfulness, as its failure 10
rcspond 10 such good features as the
unexpectedly favorable copper report
and the exceptionally good government
crop outlook had discouraglng ihilu-
cnce on traders. who were much per
plexcd and hesitated TO make commit
ucnts bevond the quick trading limit
The passage Of the tariff bill IN IhS
House Of Representatives by decisive
vote did not aid in clearing the horizon
Of suggestive clouds and called atteh-
ton 10 the income tax accompaniment
which will be a factor in wall street
r II become law. In conjunction
with other information of a represslVe
nature regarding general conditions
tho fact that an engagement OF A-,p"'-
900 more gold was made on THURSDAY
after the close of the market with
prospect Of an additional amount, all TOT
Paris probably accounted for the dis
nosition on the part. Of important IN
tcrests not TO participate very heavily
on the buying side of stocks yesterday
The foreign stock markets displayed
irroeularity and a lack Of trading In
terest. so New York was given small
support from the other side. Foreign
exchange was weak, and in LONDON
there was a decidedly easier tendency
in money conditions. Paris is beng
he,ped by the importations Of gold
which. with the S2OOO,oOO engaged
Yesterday. make total Of S6.Coo'O'
with the probability Of more to follow
and considerable relief in money mat
tors should result In the French CAPT
tai
The local money situation presented
no new features and remained quiet.
Call loans were renewed around "a
per cent, but borrowing was very linn