New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-20
STOCK MARKET REVIEW
Prices Improve on Better News
from Abroad, Closing Higher.

The stock market yesterday morning
opened with lighter load to carry
than was in evidence at the opening on
Tuesday The firemen's strike on the
railroads had been averted and the
Mexican tempest in the teapot revolu-
ton for the time had been settled by
the overthrow Of the Madero govern
ment. Regarding the effect of now
regime in Mexico. considering the
rather low degree of national honor as
exhibited by Maderos trusted associ-
ates and the petty revolutionary up
risings in different parts of the coun-
try which have kept it in state
of predatory warfare for many
months past. il is questionable whether
this last change will be either pcrma-
vestors Mexico will not hold "A very
high place until all the states have be-
come harmoniZed in the various chan
nels of mining industry and agriculture
and business interests have been as
surcd of peaceful operation. / The out
/ look for settlement of differences he
tween the firemen and railroad man
ayers is, of course, very favorab be rs
| tone of the foreign markets was re-
ported TO be much better, and the feel
ing of confidence in respect TO the Con-
tinental political situation stimulated
prices on the bourses and stock mar
kets of Europe. The opening on the
New York Stock Exchange yesterday
was an improvement over the closing
on Tuesday. The leading issues dis
played strength and the beginning of
business promised well. Traders were
nervous, however, and the supply of
stocks which met the advance was not
reassuring, and weakness. particularly
in the industrial list, caused reactions
| to follow the early firmness. Tech
nically. the market looked favora bic for
an improvement. but operators were
! bearish, and until the second hour
there was little disposition TO force
prices up A rally occurred between IL
and II o'clock in which United States
Steel and Reading were conspicuous
Following a period Of dulness in the
early afternoon trading SITTER APP
pearance was presented by an exhibi-
ton of buying, which developed
strength among leading issues and
caused the shorts to cover and TO
change their position to the long side.
The movement upward continued To
the closing time. and the list presented
a significant array of gains as com
pared with Tuesdays final quotations.
Should the foreign political outlook
continue to improve and evidences Of
positive nature come 10 the surface
( that the Balkan war will be concluded
and a peace understanding be formally
accepted between the powers involved
in the Near East affair, it is only rea-
sonable to assume that the stock mar
kets on both sides of the sea will show
decided improvement. If an absence
of definite news from abroad prevail
and a strain in the foreign money mar
kets continue. as suggested 10y the
further announced engagements OF
gold Yesterday for South America,
stock market improvement is yet in the
future. particularly with affairs at
home considerably unsettled. Call
monev was easier and renewals were
made at 3D. per cent, but time loans
were slightly firmer. The foreign eX-
change rate continued to be strong.