New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-29
STOCK MARKET REVIEW
Strength Exhibited in Early
DEALINGS Held at the Close.

During periods Of great stress whicn
hovc . direct or an indirect Influence
on stock market operations prices are
USUALLY supported. and il would not "e
remarkable that a marked degree 81
.trencth is being exhibited in the Nc"
Xor;t stock market when the Middle
N-e.tcm country is suffering from "
flood disaster. The question ls not :"
much what the market did yesterday
hut what it may do on following days.
At Tho rroscnt time a peculiar si'ua-
.iou is presented. While some OF the
American railroads. numerous lhduS-
trial institutions and public utilities are
facing losses which cannot he cstl-
mattel that may seriously affect their
cross and net earnings this year, the
Corcicn situation. which has had such
a decreasing effect on the stock mar
kcts of the world. shows unmistakapic
.iuns O. Improvement that has dis
ueIlcd much Of the gloom abroad ana
I'm turn Yesterday stimulated better
ment in affairs on the New York Stoc"
EXCHANGE. II is point of discussion
as TO how far adverse conditions Incl
don't to the Western catastrophe may
have been discounted during the long
months of selling since the outbreak OF
the Balkan war. The question Of the
hour is, Will the stock market reac'
and feel the effect of the food disaster
later or will the buoyancy abroad cause
a buying movement in American Sc
curities which will support prices mere
and keep the tone of the market steady
during it's readjustment?
The opening yesterday was firm and
trading was active. United states
steel displayed notable strength, wnile
Canadian Pacific, in its initial sale nao
q gain Of 224 points over THURSDAY
closing prjce. a a result Of the better
sentiment at Berlin, where the buying
of Canadian Pacific was heavy. Union
Pacific. Reading and Amalgamated
Conner also recorded gains in their
opening transactions, and the buying
appeared to be representative In adul-
tion to the covering Of the shorts. The
Improvement in the copper metal mar
ket was the reason given for the bull
jshness in copper stocks.
The first hours trading was decldeoiy
the best that the market has expert
enced for some time, and price move
ments gave signs Of an undertone u
brllishness which traders were ~
c1ined 10 interpret as fOrecast1ng con-
siderable Improvement. Some or inc
oldtime enthusiasm was displayed. ana
stocks were purchased throughout the
list and at the close gains were re-
corded in most of the issues dealt in,
ranging from fractions to 34 points
Amalgamated Copper scored an ad-
vance of . points, Canadian Pacific 90
points. Readinc 22s points, Union Pa
ci6c Ia points and United States Steel
II. roints. Most of the gains among
the standard issues were above one
point.
The local money market appeared TO
be easy, and there seemed TO be no dls-
nosition 10 increase rates. However
no loans of importance were an
nounced, and in the absence or any
pronounced demands which may come
later as a result Of the flood the condi-
ton of the money market yesterday
could only be accepted as temporary
indication. The outlook is for favor
able bank statement to-day, as preiim-
mary figures show large gain In cash
as compared with a loss last week.