New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-01-23
STOCK MARKET REVIEW
Gains General in the LiSt-Ex-
press Shares Weak.

The news received from abroad in
the late afternoon that Turkey had ac-
cepted the proposals of the European
powers for the establishment of peace
and had decided to surrender Adrian
ople very probably would have caused
much greater improvement in the
stock market had the information
reached the European bourses before
their closing time. The effect OF the
report in the New York stock market
was noticeable in the late trading, ana
at the close the highest prices OF the
day were recorded. From the actloh Oh
the London stock market and the Coh-
tinental markets it may be aSSulheu
that foreign traders were very well
convinced Of a favorable outcome OF
the meeting at Constantinople yester-
day. While it is never safe to preulct
the future of stock market movements
the conclusion of a peace agreement
between the countries in the Balkan
dispute will remove one OF the most
menacing factors from the foreign
financial situation and open delayeu
opportunities in the investment neia'
In this country there is yet polticai
situation not cleared, and there Is
question how far any improvement
abroad will be experienced in this mar
ket.
The early action Of the stock market
Yesterday reflected more of desire To
maintain the advance recorded Oh
Tuesday than a determination TO force
a higher range of prices, which at times
was suggested by spurts of strength
The initial sales displayed fractional
gains over Tuesdays close, but only
moderate degree of activity was eX-
hibited. The issues that formed the
strongest group were the Coppers ana
Steel which repulsed efforts on the part
of the bears TO derress prices and held
firm. A volume Of selling during the
first hour was sufficiently large TO test
the support of the market, and the TACT
that stocks were absorbed with only IN
cidental declines gave hope 10 the Opt
mists that circumstances were shaping
themselves for real Dull move.
Around the commission houses Senu-
ment was very much divided. Many oil
the leading commission houses, either
as an act of precaution or of an in
snired belief. advised their customers
TO sell stocks on all bulges. In other
uIaces customers were told that the
market was shaping for a big advance,
narticularly in the rails, and that
stocks bought around yesterday
prices would return good profits on the
coming Improvement. Union Paciic
and Reading were very firm, and the
frmness was accompanied by bull tips
which the bears accepted as an indica-
ton of weakness. Among the special
ties there was marked strength. Amer
lean Tobacco made one OF its rapid
moves and recorded a gain of several
points. United States Rubber and
other specials were also favored with
sharp advances, and an attempt was
made TO instil some bullish enthusiasm
/ into American Can. but the follow
ing was comparatively small. The
volume of trading for the day was not
large, but with few exceptions gains
were recorded throughout the list.
Adams Express and Wells-Fargo were
the exceptions and showed losses; the
former more than 2l and the latter
exceeding Z points on light trading.
More gold was announced for export
to South America, and the indications
are that further engagements Of the
yellow metal will be made for export
very soon.