The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-24
MARKET IS STABLE
DESPITE THE WAR
FEW REASONS WHY FINANCIAL
NEW FORK - NOW VERY
CAUTIOUS.
WESTERNERS WONDER
MONETARY CONDITIONS THAT DO
NOT BOTHER THEM ARE
VERY SERIOUS IN NEW
YORK.
WESTERNERS WONDER
By II. C. FORBES.

NEW YORK, Nov. s3.--Trade,
money, agriculture and politics, are
all shaping themselves satisfactorily.
and the continuation OF the Balkan
war has not been permitted TO de-
moralixe the security markets.
New York has been invaded by an
army of Investment bankers from the
Middle West, and the optimism ex-
pressed reached high c. These
red-blooded men cannot understand
why financial New York acts SO eau
tioualy. Are not the crops the finest
ever? Are not the farmers--the
mainstay of the country--prospering
Wonderfully Is not the West finane-
ing its own crops this year to an ex-
tent never before known? Is not
trade smashing all past records? Does
the government not report foreign
commerce of volume unprecedent-
ed In American history? And Ia not
everybody satisfied with President
Elect Wilson's avowed intentions to
administer the affairs of the nation
nationally and not reckiesslye
A Few Reasons.
Well, as the old lady remarked, 1t
IL easy to ask questions. With DIM
dence, / win Observation-Disclosures
one or two OF financial New York'H
reasons for refusing TO whoop UP a
boom.
First. The Balkan war has not
yet been settled. ffnsnCtefs are eau
ticus Northumberland the bigger,
the more cautious. They will feel
greatly relieved when the geographi-
been signed, and sealed. Up till the
present tho Balkan sky has not
cleared.
Second. The heavyweight bank
ers Of New York have a habit of at
tachinG Considerable Importance to
monetary conditions. II does not
bother the Kansas or Texas farmer
very much whether money In Wall
street In worth three per cent or
thirteen per cent. But the men who
are vested with the responsibility
{ Uupplytng the sinews Of commerce
cannot ignore the state OF the world $
money markets
And the state OF these markets
hAa not been comfortable for months.
Third The impending change in
the administration Of federal affairs
ID not actually an argument for
throwing of all restraint Tariff re-
vision heretofore has always entail
ed unsettiement, and no matter how
great may be the general confidence
IN the wisdom Of the new president
the new regime la pledged TO rather
drastic cutting of tariff schedules
Finally: The labor problem will be
thrown into the melting pot forth
With The supply of labor has been
apprecisbly depleted by tus return OF
subjects to the countries now at war.
while trade IL so prosperous that the
demand for employees is unusually
keen knowledge of this will en-
holden labor to take very hrm
stand.
Stocks Are Dull.
Stocks were dull today because OF
the contradictory reports from abroad
regarding the Balkan war. The I'M
dertone. however. was firm.
The bank statement showed an In
crease of more than 100000 IN sur
pius reserves in the average state
ment, but the actual showed de-
crease Of half million.
Rumors of the report to be made
public Monday by the commission in
regard 10 the demands of the railroad
engineers for an increase OF wages,
were OF such a character as to encour-
age the buying OF stocks by zig people
A better market is expe0sd next
week
Number Of shares sold today, 1884,
4l4; year ago, l5S.6Ss.
par value OF bonds sold today, $751;
coo: a year ago, si,3s3.o00.
A.. NorL MaoSx Market