New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-26
STOCK MARKET REVIEW
Volume of Trading Larger and
Heavier Declines in Prices.

Hope for betterment in the New
York stock market was further re-
moved from the period of realization
yesterday by the practical suspension
of all efforts 10 support prices. STOCKS
we're sold in considerable volume AND
values melted like snow under burn
ing sun. Weakness was shown soon
after the opening, which was fairly
steady and from the first signs of de-
preston until the final transactions OF
the day the tendency was down. In
the early afternoon there was a slight
attempt TO stiffen prices. but 1t counted
for little, and renewed pressure con-
tinued 10 the close.
Traders do not discriminate much
in their selling movements. but COW
cred a broad range of securities. some
Of which responded more readily 10
the pressure put on them than others.
Reading was the most active stock, and
on the sale of about 10000 shares wds
off more than a point at the close. Union
Pacific. on practically half the number
also displayed more than a point loss.
while Steel which next TO Reading was
the most active, lost point Among
the industrials American Snuff was
minus over 3 points. American Tobacco
lost about AZ points, California Petro-
Ieum preferred 21s points. Lackawanna
Steel more than 1 points. Lorillard {
points and Rumely preferred Is points.
one of the exceptions to TIE weak
ness exhibited generally throughout
the list was Canadian Pacific. which on
the days trading gained point. This
was due 10 the firmer tone abroad and
the support given TO Canadian Pacific
in foreign stock markets. The con-
tinued weakness in Illinois Central
was notable, as that stock reached
lower point yesterday than at any
time since the year 1900. and the
downward movement was not account
ed for by either unusual statements or
rumOrs regarding the property. 1t has
been known for some time that the
from floods, and that its traffic ar
.rangements in the South were inter-
fered with to a degree that was costly,
and this was reason enough during a
professional market. for the bears de-
pressed the price of the stock. Invest
ment issues were also under pressure
and the New York City 414 per cents
touched a new low point.
The appearance of the weekly state
ment Of the Imperial Bank of Germany
disclosed a remarkably improved con-
dition of that institution, compared
with previous weeks. especially with
the last quarterly settlement period.
4 gain of 81 100000 gold is shown since
the previous weeks statement and the
banks gold and silver holdings in
creased S.. $40. oO0. more than half Of
which was in gold Considering that
since the first Of the year Berlin banks
have bid as high as 9 per cent Tor
money with New York institutions. the
4 present statement emphasizes the re-
lief in the Berlin money market Can
ada continued TO take gold from this
market. and 100000 more was shipped
Yesterday. with indications that fur
Their amounts will be called for.
The local money situation continued
TO be easy, and the outlook for the
bank statement to-day is for a gain in
cash. although not as large as last
week. Time money was quoted at IL
per cent for six months and CONNER
cial paper was easier at from ) to 81
per cent.