New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-05
STOCK MARKET REVIEW
Prices Decline in Most Issues
Some Specials Advance.

Company for the year 1912, showing a
large increase in net profits. and some
very bullish information by a news
agency relative TO distributions to be
made to preferred stockholders on
April /. there were more sellers than
buyers of Can common, which aided
weakness in the market that during the
day was very pronounced in Southern
Pacific and some other issues. The
opening Yesterday displayed only
trifing changes in quotations from
Mondays closing. Sentiment was in
clined TO the bearish side, however. and
with little incentive for trading after
brief squirt the market followed line
OF inactivity. The bears utilized ru-
mors regarding the segregation plan OF
the Union Southern Pacific interests
which predicted the sale Of the South
ern Pacific interests for cash at price
around par and hammered Southern
Pacific which declined. with practically
no evidence of support. Canadian Pa
cific was soft. and on comparatively
few transactions was one Of the weak
est stocks Of the day.
No aggressiveness was exhibited in
the market on the bull side except in
very few specialtes. American Brake
Shoe. American Tobacco. American
Wooden preferred. Bethlehem Steel
preferred Lackawanna Steel Liggett
& Movers and p. Lorilard were the
issues which occupied a favorable posi-
ton among the supporters of prices
and displayed good gains at the close.
Stock market sentiment is difficult TO
analyze. Some time ago, when the
earlier discussions regarding the dis
solution plan Of Union Southern Pacific
were being discussed, Wall Street in
formation was that insiders were sell
ing Union Pacific and buying Southern
Pacific and that Union Pacific was due
for an advance Of several points on It's
actual market. value. Yesterday the
story was reversed, and the insiders
were said to be selling Southern Pacific
and purchasing Union Pacific, although
Union Pacific declined, and from gen
eral appearances it seemed that both
Union and Southern Pacific were being
sold. but whether by the insiders or not
is very doubtful.
Now that the Supreme Court has
taken a recess and there is no prospect
of a decision in tho Minnesota rate
case on next Monday, the market Cos
sips must depend on other material for
manufacturing inside information re-
garding movements which may stimu-
late or depress prices. Irrespective OF
the reports current yesterday regarding
the plan to be pursued in disposing OF
the Union Southern Pacific dissolution.
no facts here have been made public,
and it may be accepted that settle
ment satisfactory to all the parties in
volved is yet in the distance. Another
one OF the mysterious moves which
nave Sdu cPcio-
tions in the past was shown yesterday
after the close Of the stock market.
when at the meeting of the directors
no action was taken regarding the
period when the back dividends on the
preferred stock will be paid. Such in
action will be disappointing TO traders
who expected a dividend announce
ment The foreign situation was some
thing Of puzzle. Notwithstanding the
resumption Of hostlities in the Bal
kans, European stock markets were in
clined to be optimistic and trading dis
played a generally firm tone in price
movements. There was no indication
of foreign business in this market;
consequently, the situation here was
affected by local issues only. Call
money was loaned freely at easy rates
and more gold was engaged for ship
ment 10 South America, with the pros
pect that further engagements will be
made in the days following, unless
| settlement Of the Balkan war disturb
ance should be made suddenly.