The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-11
|6Ns OF A RALLY
N STOCK MARKET
low PRICES ARE FOLLOWED Br
An HOUR OF busy TRADING
IN THE STREET
Ass
rs LITTLE WEAK YET
NryNEsoTA RATE DECISIONS rs
AWAITED WITH INTEREST AND
MEANWHILE BARGAINS ARE
PLENTIFUL
is LITTLE WEAK YET
Nv THOMAS G. sHoTwEIlL

NEW YORK Dec. lu---Ine STUN
market showed some raliying power
today after the list had made more
q rnw low records The low prices
anse In the first hour, The volume
a trading for that hour was the
heaviest Of the year and more bust
mess was done before noon than IN
I the three hours of the afternoons
!. session. More Issues were traded IN
thar for q long time. the total being
500 Total number Of shares traded
4 IN was above a million. not counting
pNrhaps a hundred thousand shares
81 stopped stocks.
New reasons develop every day Tor
the weakness of the market 1t was
raid today that the Union PACING de-
rfs1pn was the thing that made the
Morgan party finally let go stocks,
These bankers had thought the rail-
4 road would certainly win and were
Knocked at the decision. They be-
fteye the fact that the court considers
Two railroads five hundred miles apart
rnrnpstitive means that the Steel cor
poration will lose it's suit
This may be the basis for reports
that the old plan Of reorganizing the
Steel corporation without suit VIII DO
revived.
Hinges On Decision.
-
an the Minnesota rata decision. II
araipst the railroads the business In
4 xerests will lose courage and prepare
Snr the worst. If IL is constructive,
- the past record Of the Supreme
II court leads one TO hope IL Will be,
Il fhsre will be a quick revival of life in
Business and flight of pessimists.
Announcement that untitled orders
8 on the books of the Steel corpora
ZION Increased z5S,5o2 tons during
4 November helped matters hut little,
i'm the last hour Steel suddenly ran
Asss, n point and was two points above
4 she low OF the morning, but this gain
was lost Al the low OF today Stee
showed a loss OF more than sixteen
I points OF the high d few weeks ago
4 This sharp decline IF a sterling diVi'
d sfend- payer has created far more
s. alarm than the declines in speculative
tissues. Can, for instance. which
I everybody understood. was somewhat
A specuiative and could not possibly gel
dividend for three years, has broker
II only four points more than steel
- Gears ReeBacK Brtt4e seven pofhn
4 Following announcement that the ex'
ira dividend promised Ia investors
would not be paid at this time.
Bargains in Market
II IL idle TO repeat that the mar
+ ket is overfiowing with bargains. TIT
u Dresanca OF hundreds OF strange face
81 IN Wall Street Is one of the hes
uroofs that this is true even If 50
III Elany stocks were not selling on
rer cent basis and bonds on PEI
cent basis
The SIS, 100000 loan arranged 70
I Austria was made on the diatinc
\ agreement that there would be. NJ
1urther war in Europe. The absurd
n currency laws of the United State
4 are largely to blame for the tnabilft,
81 81 the market to recover from III
Aepression. Jacob Schiff said few
4 years ago that some day the currenc!
( ard banking laws Of the United State
u would cause a business panic at
4 lime Of the greatest prosperity be
A cause, from financial standpoint
these laws are most dangerous II
prosperous times. II begins to looi
a If this might be the time.
IT was reported in Wall street 10
& day that bill has been prepared 4
I Ne introduced in congress in the nea
Il Future providing for the reform o
N the New York Stock Exchange. s.
M many reforms have been iDaugurate'
4S Nv the exchange the last few year
&&s that while there Is great deal 0
III general criticism nobody seems Z
" bring forward any actual reform
Ii needed except a desire to see the ex
ehange Incorporated.