New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-26
STOCK MARKET REVIEW
Liberal Gains Made Throughout
LiSt-InduStriaIS FavoriteS.

RcCOVerieS in the stock market NcS-
terday disquietcd the formerly cner-
getic bears. who rushed to cover and
allowed a most impressive array Of
gains TO be shown at the closing of the
days transactions. In volume of trad
ing business was about one-third larger
than on Monday, and advances were
recorded in practically every stock
traded in, fewer than a half-dozen OK
ceptions SLOWING fractional losses. The
sold-out condition of the stock market
offered an attractive basis for a move
ment in the upward direction. particu-
larly among the industrialS. and Mon
days improvement proved to he but
the starting point Of the turn. The
same tone of cheerfulness shown on the
floor of the New York Stock Exchange
and among the commission houses was
exhibited in the London Stock Tx
change and in the Continental bourses.
How fictitious the sudden ebullition
Of favorable sentiment may have been
did not seem to concern market follow
ers yesterday, and prices were allowed
to rise with little opposition on the part
Of those who do not view ahalrs
through rose colored glasses The STOCK
markets both at home and abroad pos
sibly were rejecting a feeling OF en-
ergy inspired by the holiday rest as.
aside from an appreciate undertone Oh
good feeling actual developments had
changed very slightly, the same condi-
tons prevailing as during the previous
DAYS when values were so indiscrimi-
natelv cut down. Dispatches from Eu-
rope indicated that fear was giving
way to confidence regarding the politi-
cal outlook. and that the money situa-
ton suggested less alarm than ii had for
some time past. All this, however, was
largely the result of mental improve
ment, which may or may not continue
for any considerable length of time.
Such operations as involved the pur-
chase Of American securities by the
foreigners may be questioned. but II Is
possible to follow such surface indica-
lions with developments Of a more
convincing sort within the next few
DAYS. which, II favorable. will prove the
commences of a decided recovery In
European confidence.
The approaching April settlement sp-
reared TO have been provided Tor
abroad, and the financing for that
period probably will be done with less
difficulty than predicted last week.
The gold shipped from this country TO
Europe Will arrive In ample time to as
sist the banks there with the April !
arrangements. and this should lessen
the tendency to further shipments from
this market. The local money situa-
ton was easier, and the tension which
was apparent in previous weeks was
not in evidence Yesterday. Money from
the interior. as well as local money,
was offered, but the demand was not
large.
The news Of the day was ignored by
the optimists of the stock market. The
terrific storms in the West and the
enormous destruction of property and
the loss Of hundreds Of lives were not
considered as market factors, which
they may prove to be later. The pc
culiar utterances Of Vice-President
Marshall regarding capital and the
tariff programme as reported from
Boston will probably come in for
consideration a little later. That the
stock market offers numerous bargains
on the investment side is pretty gen
orally conceded, but that it can go
down as easily as 1t goes up must also
be recognized.