The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-21
bkET CLOSES
NTH ADVANCES
MANS TESTIMONY ACTS As
nAarNE INJECTION TO RE
STORE CIRCULATION.
N O. is STRONG
knx1wGs SHOW INCREASE AND
n II EXPECTED TO BE MEa-
GED WITH TRUNK LINE
81 SHORTLY.
AND o. IS STRONG
Nv II. O. FORBES.

anew YORK, Dec. %0.-The stock
sfket closed strong with sharp ad-
snces in ~speciaities-
Fin the arteries of finance, fears are
! white corpuscies and confidence
D red. Mr.. Morgan's testimony was
u saline injection that restored c1r-
Nation to the normal.
Wall street was quick to snow us
kNponse to the favorable turn in PUB
opinion which has been growing
fnndiiy during the past week. Such
return OF confidence is first express
b the cancellation CT selling or
Nm and then purchase OF stocks, The
RAxanre in General Chemical com-
my Of 1 rs pei ceut on 100 shares
"a the 5 per cen rise in Virginia
eUn. Coal and Coke are exaggerated
Ses Of today's advance. Pubtc opin-
~ OF j. Pierpont Morgan is best ex-
fessed by the fluctuations In steel
Smn,on. and the stock advance.
las per cent on trades of i2S,ooe
Mares. Further rumors regarding the
Potable increase In dividend on
E1nerfcan Tobacco brought a fresh
tyance In these shares To 27s "a.
Ranking Conditions Improve.
The ease in the market for call
- reflected the improvement IN
- banklng conditions. 1t is eA-
cted that a very favorable return
be made in tomorrow's state
d as a result of the reversal OF
Emestic exchange In favor OF TINS
nter.
The most important news OF the
= Gas the statement of the country
~ Foreign trade for November.
liking ali records and yielding a
lence bringing an aggregate for the
zen ont up to s4S5, 100000.
rurther efforts were made by Ger
IL banks TO negotiate loans at this
inter- without success.
f1nr own corporations are max
efforts To sound the market IN
gnrd TO a renewal of a numDe OF
s.rf term loans which fall due with
I next two months,
while no announcement was faaae
lay regarding new Issues, they may
hooked for shortly.
Purchases In Three Glasses.
Intimately all purchases Of stock
\ he separated into one OF three
T~rcs Inyestament-where stabh-
II capital is the first requisite
Observation-Disclosures nearly
nal division is sought between VI
5ffuer1t yssfra speculation
~keptculatige operations. Iakihs tue
point first, 8 certain percentage
Npnbiic operations In the STOCK mar
viii always be speculative. Tx
saanra suggests that these opera
re should never he conducted WITH
81 least. q 20 per cent maTg1s
e~nnsactions on a narrower basis WIN
with an element of RISK
- il not justified by the history OF
nrsuations. Trades of the SEMI
se,,at,ve class should include trans
.afpns In stocks that pay or that are
wely 10 nay dividends so that the re-
rms may pay their carrying charges
nile h stocks are in the II OF
NJ bankers.
IN investment the principal should
kesasa ruv he secure, stability return
rnI,aK,le. and Increase in value Ike
8HConsldering these points, let US
ke the case If three coal Stocks
II rarely advisable for the puhlic
buy into a law suit. and It is FAR
conclude that at present the shaFeS
me companies are selling e&-de-
06rtment OF justice
&9 anigb xatley can be Considered
inyestment. Earning 70 per cent
the present time, paying 10 per
6Is ana Idht AA& -
~ ceals, wn.cn VIII be deducted from
price on January lst. AS TINS
66napany owns ali of the shares OF the
xhigh Coal company. an extra owl
ma Is highly probable.
G., and o. II Good.
lin the semi-speculative stocks.
sesapeake and OHIO commands at
nfion, at the present price. The
rnings show a steady increase, n
The property was acquired by the
q e. II. Hawley, for financial tn-
1rests. II is safe to say 1t may De-
me merged with some TRUCK line.
Erie common advanced with the
her coal stocks on light ransa
4na
The tone at the close was decided
cheerful, and while the commits
a business does not show any de-
led improvement, the return OF
<nidence that was manifested usu-
II precedes public buying.
$sEumber OF hares sold Today. 5ea,-
r. d year ago. 2b5, Ala.
SPar value of bonds sold today. s2,-
900; a year ago. $~3.ss4.000.