The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-11-12

nv THOMAS G. sHoTwEII.

|&ks NEW 1oRh. NOV. lI~-fsutnpS
h broke We stock market again today.
The specific thing that did the work
Was the neglect OF Premier Asquith
q IL resign Immediately following his
B slefeat in parliament, This was taken
& ~ mean that the Balkan affair Is too
serious 10 permit change of minis
TRY. News from Austria and Russia
seemed to justify this theory. There
fore. the important interests did not
$Ntand under the market as boldly as
#xhes had been doing.
1t was ir this way that. while Eu-
#rcpe was responsible for the break.
Il Europe sold few stocks. The big
ueople are not afraid of European
u 1iqusdation so much as of tight money
That may come if there should be a
Il greater war. The leading interests
y here have felt that the worst was over
'eabroad, and the new developments
ARE regarded as pure hluffing. but the
biufang is of such magnificent char
n Arter that they cannot afford to tg-
4 more 1t. A great war such as IL
Threatened would cause a shock here
n III first but would quickly force a
) business boom OF vast extent In
america.
Tariff Talk Is Heard.
keneral run Of traders believed this
/ Responsible for the break. The only
4 new feature of the current reports
kswas the animation that a special ses-
B,eion might he called. Such a thing
Ewouid be a reputation of the prom
3ses made before election, when cam
paign contributions were being soil
#cited.
1 Decision of the arbitration commits
sion against the railroads in the mat
/ Ter Of the engineers and firemen's
wages is expected. 1t is stated on
high authority that such decision
Ehas already been reached, and win be
|sAnnounced within week. Denial OF
ks1he report does not cause the rail-
xoad people to discredit it The in
crease of wages is said to be such that
at Will amount In the case of the
Baltimore and Ohio. for instance, to
Ea47oe.oo a year. Such an increase will
mot be opposed by the roads. Such
~ partial victory by the men would
{nc doubt encourage other employees OF
E4he roads to make similar demands,
land that would hurt the stock mar
Steel Report Ignored.
An increase of untitled orders on
$&he books of the Steel corporation. OF
more than million tons, in October
1ras ignored
Omission of the Supreme court TO
hand down decisions in the three inn
pcrtant cases before il was further
E%rcaspn for pessimism. The court will
meet next Monday, and then not until
41ecember %.
Prices of grain were lower. show
Ems no uneasiness over the European
#ntfuation. The business world re-
II fuses to believe great war possible
&tn Europe.
Copper shares were in demand. es-
Epeciaiiy the new investment issues on
THE curb represented by Braden and
1aasnn Valley The former made ii
new high record Tobacco shares were
discretionary.
Looking For Panic.
I'd Professional Wall Street Ia fun of
1.-The belief that President Wilson will
bring about the business panic that
Prextdent Taft predicted In the event
EUf Democratic success. The money
#4rHst' investigation Is expected to con-
&4ribute largely to such an end. and
destruction OF the Steel corporation Is
part Of the alleged program. II is
#Rerarded as significant that the first
Epubnc act Of the newly elected presi-
dent was 10 assure the country that
8e would not in1ure business. The
n1ore this assurance Is considered,
ahe more remarkable II seems. Pres
Adent Wilson Is expected to attack the
&Eteei corporation through the tariff,
#Nhe courts and the money trust and
#&he directors are represented as short
#nf its stock ana as forcing the rail-
toads with which they arr identified
INC put in great orders for steel, sc
Us 10 give false appearance of pros
perity, while they sell their stock.
Number Of shares sold today. 47o.
sA4G, against So3.440 a year ago.
Par value of bonds sold today, So.
113, 90, against $2.649 coo a year ago
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Curb Trading.
NEW YORK, Nov. 1.-THE outside
mecurities market today opened with
prices generally hrmer and with the
&Aefai Sharas Assuming, Tie lead erShiI