New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-13
STOCK MARKET REVIEW
Prices Irregular at the Close
Foreign Sentiment Cheerful.

The news from London received III
this market prior 10 the opening on the
New York stock Exchange was stimu-
lating 70 opening prices. In tho initial
sales on the New York Stock Exchange
there appeared to he a broader huN-
ing movement. but no great volume "i
stocks was displayed i'm the Offering,
and while i'm some quarters the~e was "a
decidedly bcarish tone, the range of
prices indicated hrmness. Canadian
Pacific was one of the strongest on the
list and at its opening prices showed a
gain Of more than . points. This stock
particularly reflected the more cheer
full situation in foreign stock market.
due largely 10 the publication of the
new peace terms of the Balkan allies In
their settlement with Turkey. \ line
Of the news that had encouraging sig
nifCanCe was that the allies were ready
to accept arbitration by the powers.
The foreign news of the day also con
tanned information of a rehabilitation
OF the armies Of Austria Hungary and
Russia on the frontier. The better
feeling abroad was shown in the action
in the market for demand sterling,
which sold off, showing a total loss of
about 10 points at the close Sterling
cables held relatively frmer, increas-
ing the spread between them and de-
mand sterling to % points.
The selling movement in demand
sterling was reported TO be by two
large institutions and by brokers who
were long in the market. In the Lon
don money market discount rates were
easier. and the Continent was said To
have bought some bills at "a per cent.
while the general rate was I 1916 per
cent. In the local money market there
was a hardening I'm can money rates.
which had tendency to restrict com
mitments. Following the strength in
evidence at the opening after the first
hour Of the stock market here trading
became dun and prices had q sagCinC
tendency. Southern Pacific was one of
the strong stocks i'm the morning trad
standard issues, together with some of
the specials
When the support began 10 falter in
the late morning several issues. such
as Goodrich, American Sugar, Wool
worth and Loose Wiles, turned weak.
and I'm the early afternoon the tone of
the market was inclined To- hcaviness.
At the close the range of prices dis
played marked irregularity. and while
a few gains were recorded, many losses
were shown in the list. Negotiations
were reported to be i'm progress for OK
pOrtatiOns Of gold amounting To several
million dollars. and the demand. for
money in the interior was shown in the
movement Of interior exchanges against
New York.
Trade conditions, especially i'm steel
and iron, were encouraging. according
to the advance reviews for the week.
The Iron Trade Review says that
had the policy of the United States
Steel Corporation permitted it could
easily have booked orders for tonnages
far in excess Of 10000 tons. the
amount representing the reduction of
untitled bookings in February, ac-
cOrding 10 its statement "The Iron
Trade Review" is equally encouraging
and reports that the demand for struct-
ural material in the Central West is
now more active than at any time since
the summer OF 1872