New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-29
STOCK MARKET REVIEW
More Low Records in the List,
with Closing Uncertain.

Affairs relating TO the financial dis
trict and having an influence on the
prices Of securities Suggested little
Yesterday which could he interpreted
as offering a cheerful view. al least n
pectations in some quarters the SUI
preme Court made no reference to the
Minnesota rate case decision, and L
probably will be some time before any
thing of a definite character is heard
on that measure
I'm the minds of few traders the
stock market at the close on SATURDAY
appeared to present an element OF
technical strength following the heavy
short interest which had resulted from
the professional selling. but at the
opening Yesterday new low points were
touched i'm many of the leading issues.
due to the failure of customers 10 com
ply with requests for additional mar
gins by commission houses. Bearish
opera tons were exhibited i'm Union Pa
cifc. United States Steel. Anna lgamat" ted
Copper Lehigh Valley and other issues
during the forenoon. Many observers
were convinced that the last drastic
action I'm the morning was the maj
clearing mp process, which would oe
followed by a recovery and generally
better market tone during the next Few
DAYS. but so far as the signs could be
read in the fiuctuation of values
throughout the day the question was
an open one. and only the reasonable
assump N that the pendulum cannot
continue To swing in one direction Of
fered basis for forming a conclusion
in favor of bullsh sentiment.
The foreign situation did not inspire
encouragement in local stock opera
tions. as the European bourses were
depressed by the fresh complications
in the Scutari affair the reports of me
departure of Austrian troops 10 enforce
that countrys demand and the He-
ported ultimatum presented 10 the pow
ers by Austria. At home political com
Dlications arising from the California
incident. the tariff and other move
ments connected with the policy of the
administration had not cleared suff
cientlv 10 warrant any feeling of opd-
mism.
The news of the day included an an
nouncement OF tn. sale of SloWn.WW
one year : per cent notes in London
bv the Lake shore Railroad. II was
reported that these notes had been sold
on basis To yield more than > per
cent. and this indicated To Wall Street
the trend on money during the next
twelve months. Some attention was
given by the bankers i'm President VIII
sons statement that the currency
measure would be dealt with during
the present session If tariff legislation
could be finished without delay The
merit Of this statement is in the lnten-
ton rather than the possible execution.
as II is questionable whether tariff
legislation can be finished promptly. in
view of the many conflicting views held
on the subject. even among the low
tariff Democrats.
Canada secured more gold, and an
engagement Of 500. 900 was announced
for shipment. which makes total now
of 81 100000 shipped since the present
movement began. There was little
change in the money market. as call
money was renewed AT around %, per
cent. while time rates showed a slight
| ~ harder tendency. There was no de-
nand Of consequence and the tone of
the money market was dun.
At the close Of the market stocks
were above the low points of the day,
but trading was inactive and no trend
was indicated.