The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-08-31
FAVORABLE INFLUENCE
Change In Mexican situation Hns Good
Effect In Financial District.
ny CHARLES W. STORM

FINANCIAL interests plucked up cour-
age the latter part OF last week.
when there was n decided scattering
OF the Mexican war clouds that IN re-
security markets Although some dis
appointment was felt in Wall Streei
over the "natness" Of President VIII
sons message on Mexican affairs to
Congress, the recalling of Special Rep
resentative Lind by President Huerta
had distinctly favorable influence on
sentiment in the financial district,
mirrowed by q sharp rise in stocks.
Millions OF funds that have been
withheld from investment pending
some favorable change in the Mexican
situation, have already began TO ind
resting place in the stock market.
General business continues TO i'm
prove, and statements made b. rail
road heads indicate less apprehension
by trade interests over tariff and cur
-ency legislation
while there !s an urgent demand
:or aew capital The total OF new
s.crY.ty offerings r. the near future
premise 70 b very light, according
20 r.oneyed interests
BANKERS state that mare are certain
@nt that have crees.f5 ;x.e mistaken
belle: ;Ast -ouey.ts s"asie. ;han IS the
case ApporI!oln t'S4a.olo.0 100 By
ths Secretary o, re Treasury 10 the
Southe-a and Western banks has
causes toe bs!:.: - prevail that rates
1or -.oasy - Ire :zll VIII not be
Et%a1y o. st-r This opinion e not
shared oy ,te bankers
International banking Arms broke
TIE rates tor funds over the wear b.
lending large sums - money. winch.
- Is understood represented advance
payments BY Europeans OF account Of
subscriptions 20 the $4,000 900 offer
ing Of Southern facihc stock AS
result plenty II funds have the past
Week been available Tor collateral
leans
The demand hy the south :or funds
j. stll presented, and expected TO CON
TIME until the middle OF September.
"ncn the Western banks VIII begin 10
draw on the East for funds. The
Western institutions VIII be steady
borrowers through October and no
Ncmber This drain is calculated to
result in firm and higher rates
Easing up Of money has been fol-
lowed by q better and larger demand
Tor investment securities The better
feeling has released funds that have
been held b. hanks and investors IN
expectation Of higher rates for money
~ tne IAN ana lover quotations for
bonds apprehension felt OH this point
has been dissipated to a considerable
E extent and high grade bonds are be-
Z ing picked UP.
Il Savings banks are understood to be
4 looking over the bargain counter. pre-
IiminarF 70 making purchases
B The Quick sale Of the &. 600 600
Panhandle" bonds last week had a
Z favorable Influence on the bond mar
+ let. Further Improvement in aenti-
4, ment is expected 70 have it's effect on
4 security values Should the subscriD-
S tons for the Southern Pacific onering
+ be such as to require the underwrit-
ers TO take up all or small proportion
!. Of the entire SIS ooo 600
acquisitions for steel products have
been increasing the last week and the
untitled tonnage statement Of the
United States steel Corporation as o,
Z August 81 IS expected TO show ;. fan
Sing off in orders OF about $4,000 tons
4Ihis would compare with shrinkapo
4 Of f0s 900 tons in July nd 5l7 600 tons
Atn June. Improvement in the pig iron
business has also been recorded
n an lncrcased demand for conner
5 metal. together with sales OF .lcctrolv.
Tic AT ls cents. is back OF the prodic.
z - " -