New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-23
STOCK MARKET REVIEW
Gradual Improvement in Prices
at Close Helps Tradinu.

Finding reasons why the market does
or does not go up has been the daily
occupation of traders for many days,
during which leading stocks have
shown narrow movements. but In the
main have exhibited greater strength
than weakness. The changes have not
been sufficiently pronounced to indicate
decided bull movement, and at the
close Of each session the Street has
been left guessing on the outlook for
the following day, as there has been
a very large bear element in feeling, II
off the Stock Exchange.
1t is conceded by bankers that there
will be continuation of firm money
during the remainder Of this year, and
are easy, and this might be accepted
TO indicate an encouragement TO an &C
tive stock market, II is questionable
whether the position warrants the be-
ginning Of vigorous upward move.
Technically the stock market is due
for some improvement, but II may not
come. New York banks have been and
are being benefited by a considerable
inflow Of funds from the interior. but
at the same time this money has been
going to offset the export movement
Of gold. so the net gain to the banks
has not been extraordinarily large.
June disbursements. as estimated by
Dow, Jones & Co.. will not be as heavy
as during some other months this year
The figures are placed at S104, 100000
and this sum after the first Of the
month will be available for reinvest-
ment purposes, provided the market
offers attractions sufficiently alluring
to induce investors to come in.
Yesterdays net results on the day
apparently confirmed the rising ten
dency OF values, and discouraged the
bears, for the time being. at least in
their efforts to belittle the hardening
tendency Of prices. Not only has the
market been gradually creeping up
ward. but there has been an increase in
activity. and the volume Of trading
yesterday was the largest In several
days.
Not only was the trading in stocks
more active. but the bond market, due
to the incentive offered for participa-
ton by the low prices OF the city bonds
developed marked activity. and in the
early part of the session about $l,JoO,-
600 in city bonds changed hands, and
no sale was recorded below par. while
several dealings were reported at prices
above par.
Announcements of new offerings were
made yesterday, which included an
issue of $1OOOO.OOO Baltimore & Ohio
car trusts and $4,000 Cincinnati.
Hamilton e. Dayton 5s. other news Of
the day had q political bearing chiefly
and embraced information from Wash
ington that the Finance Committee OF
the Senate will force action on the
tariff bill and that the measure Will be
taken up In Democratic caucus by May
%. There appeared to be a better feel
ing TeBdTullIS lho 1oPoHcSS- $50
discussion, and dispatches indicated
that the dove Of peace is lowering over
state affairs in connection with this In
cident.
The Lehigh Valley statement for the
ten months ended April 30 and for the
month Of April made an impressive
showing. For the month period there
was an increase in total net revenue
Of 1903. 100 and for the ten months the
net increase was $780,. 90; the report
for April was especially good.
Foreign stock markets were de-
pressed. and there was no encourage
ment offered from abroad on the buy
ing side in this market.