The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-10-22
OCKs PLACED on
BARGAIN COUNTER
SYnR. IN EUROPE
MAS IT'S EFFECT IN THIS
COUNTRY.
MANY ORDINANCES ON
ALWAYS esERbeoh
TINE OBVIOUS ~ = SEARCH
TO FIND Cause OF sToCk
MOVEMENT.
Il, 4HoM {. >uoTwtlL..


rs NEW yoRk. Oct 2i.--Stooks were
4 I'm the bargain counter in Wall street
Saxain today as the direct result Of
y Misrepresentation in Europe This time
Al MAS Paris that furnished the excite
usent, an1 In the last honr " Wall
fstrset trading il Vas reported that
8 skrraca house 81 Importance would he
Eferead 90 itauiGatc and that II had
\ sold Il great 8Hsn nifty in New fofk
A zs@xasiea the European markets were
8xsosed when IL discovered its inability
IN earv1 the stocks over tins settle
4 saasssss This closed The local market
MesaA ntth sosuo sharp not declines.
III waS she settlement that was ia
4 urugresS YESTERDAY that pTeetPitatc6
d t1an srs4ssAie The sitget3Un was aeers-
gsssatess SO Tar AZ Wall street Vas con
NNN~-neSE ty the fact that about $40
E vsp, s6a OF American stocks are ur
4 sssspiseard coming 10 New YORK "n
aaszsrunnt Of s8 les made iaSt week his
3s9gxh of stocks viii be easily financed
n here. but the technical result VIII be
"a return Of stocks borrowed last week
|5or delivery against the sale of the
EfpsesgH stocks Thus an artificial
Ekh0rt interest viii be eliminated AMI
traders were already taxi
Exng advantage of this situation when
Essfe trouhlc in Paris developed today.
Es Scene very important sales were
Emade for local account, one financier
EMax reported 10 have sold as much
ESas se.aoe shares Of stock during the
Esfas, An operator who is celebrated
EAfof his quick moves in the market
Hwas aiso reported to have sold freely,
8hifhough he IL believer in much
Ehfgtef prices for the near future.
Seart'i, For Ronnances,
Wall Street, which always tries TO
EsHseriook the obvious and find somu
5rornantic cause for every move in the
Unmarked, was BITS. today with yarns
@About certain firms being in distress
#and certain individuals being In lis
ESkraEe Careful investigation failed to
Aliscoses 3, particle Of foundation for
&Any of these remarkable stories. Tho
SHason for the Weakness is the an
Tonantic fact that a Paris banking
honse bought more stocks than ii
Eould take care of.
The fundamental Of The stock
EMarket, both i'm Europe and America
5akEs u hssainfels,5 sound. Exchange rates
naay be dlsarranged for ii short time
HEhiie the American giant is digest
Ez1nE the rich morseI OF bargains sent
|#Dyer BY Europe. but In Il short time
sAxchange will be shifted 40 ruuch In
N3Avor Of the United States that both
SStpcks and gold win be travelling
@Westward il Europe does not wake
mp TO the situation on this side.
Evidences of continued prosperity
on this side are So numerous that ii
seems useless 10 multiply them. but
#Qhe fact that developed today has
spHeuiisr interest just now when pro-
1fasionals are selling stocks so reck-
FAHssiy. The American Can company
XAarned about one million. one hun
@Hred thousand dollars net tS1.I00,-
1000 In the month Of September. Such
@Narnings are phenomenal, and ex-
eted the expectations even Of the in
Ss&sders of that company They in
9Mire the carrying out Of all the pro.
gram planned FOR American Can
TRfocks. and render Incidental fiuctua-
lions of the stock matters of no Inn
8portance. Canadian Pacific. that
Nnther stock market bargain that Is
being held SO CONTEMPORARY by pro
asssinnalE. keeps on reporting in
srreases OF earnings that are certain
10 overwhelm the bears before many
inonths Just now they are growing
EAt the rate OF nearly half a million
sdDliars a month.
Yarn" About Ryan.
romantic yarn in circulation had
John %. Ryan in disgrace with Ght
MRockefeilers because he had become
HI director In Daniel q. Reds new
FTobacco Products company. 1t is
hard to reconcile this with the fac,
Nahat the National city bank took a
slot Of the preferred stock OF the com.
gpany for invest meDt accounts com
Emitted to it's care Ryan IL the first
#Taai Industrial genius the Standard
zs9I outfit had developed since John
I'D. Rockefeller was in his prime, and
thers IL little danger that he will 10
NMIIowed to escape. lie 1as made ever
Amalgamaf@d respectable. and that
~ saying good deal,
The failure Of the supreme court 10
hand down important decisions to-
Ndar was exactly what the street had
seen prepared for.
81 Number of share sold today. GAL
TO-, IA year ago $29,147.
Par value of bonds sold today
I'll 3a, eco. year ago. s2,06s 600.
Curb Trading.