The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-27
llR sChREs FAIL
n ACT on MARKET
RXrrUAi.LY GAINS SOME FRAc-
T1oxs, ALTHOUGH MONEY
/ GOES uP.
TRY TO HOLD GOLD
nAkkERs SAY THEY DO NOT WISH
TO IMPORT AND UPSET THE
MONEY MARKETS OF
EUROPE.
Nv THOMAS c. sHoTwELr,.

NEW YORK. Nov. 2es--lu view OF
4 the new eruption of war scares from
Europe the stock market acted re-
markahiy we'll today. Ii actually gain
"a some fractions on the days opera
hens and closed strong although
4 money went to IL per cent. Renewals
Tor brokers were at ii per cent. which
Z = the highest for several years. But
4 everybody knew the high money rates
were a mere furry and no surprise
4 was expressed when gold for import
was announced TO the extent of half
10 million dollars. The sterling rate
fell ave points below the lowest rate
of the year.
Bankers say they are trying not to
Import gold. not wanting TO agra
tate the money situation abroad, but
the weight OF the to gn cotton bills
carried here is too great to be resist
ed Europe has sold all the Amer
lean stocks she cares to let go and the
balance of trade Is running in favor
OF America with increasing force Eu-
rope has nothing to offer but gold and
II must soon come in great volume.
Corner is Turned.
High money rates cannot prevail
Tor any length OF time this year for
the corner has been turned and as
poon as arrangements are made for
v the December dividend and interest
n payments rates should decline evenly
toward the end the year. Part Of the
present furry Is due to expectations
Of call for condition of banks by the
Y controlier Of the currency.
Advances Of the market was due
I partly to the easing money rates in
THE afternoon. but the rates eased i'm
I n,ediately after it became known that
most OF the war news from Europe
was invented and that the Kaiser had
Hugg to Austria that the ques-
lions al issue be submitted to con-
ference Of the powers. The import
ant people of Wall Street do not be-
iieve there Is possibility of great
war in Europe but great many
b nervous people own stocks and great
many professional traders are always
I ready to act SO as to aggravate an un-
{ iEssy' situation :"
All the reason Is on the side of an
Il trnpraytng market. The command
ing trade position OF American, set
tielnent for a long period Of most ur-
4 rent disputes. forthcoming decisions
by the Supreme Court or decisions
ifrsfsfsri tn, mr. rtsfffoatir ANA s1ts tfrft-
1ngs everywhere Atehison reported
tn October figures to-day and they
we're the largest gross earnings in the
4 history of the company and the in
crease or sl,4l7,932 was the largest
4 increase for any month this year. 9th
@sr roads showed large increases for
ii the third week Of November, Ca
4 madam Pacific, 81 per cent; Missouri
Pacific. Is per cent: Missouri, KAN
xas and Texas. % per cent, and so
4 On
Foreign Government Bonds Steady
Foreign government bonds were
steady and the action of government
81 bonds IL more to be relied on under
such circumsta than any state
h nsent by any other authority. Stock
markets can be made to fio little
u far q day or two al a time, but Brit
q szh cnnsnis never lie. When France
|@war In turmoil Napoleon ignored all
81 other sources If ~rnatien and
& iadxed the truth or faisity of reports
A hv he price of rentes British consnis
II And French rentes said today there
I wouid he no great European war.
Cotton was higher and grain low
ser. thus confirming the testimony OF
! zsuuFpfs r,t t.rfffes.
Railroad iiremen and trainrnen. are
A preparing demands for an increase al
Nages. but the report on the engineers
demand robs such demands OF their
ssfing The a,runt Of the award IN favor
The engineers will fall on the Gould
properties.
Number OF shares traded in today
z5T.3s3. yea: ago, s0o.sl6.
Par value Of bonds sold today,
Nae 100000: n year ago, 81, All, 900.