The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-08-30
UPWARD MOVEMENT IN ACTIVE
STOCKS CONTINUES IN DE-
LrHEnATE MANNER.
ANXIETY IS LESSENED
SITUATION AS REGARDING MEXICO
NOT REGARDED WITH ANY
ALARM--ETFECTO OF REDUCED
CROPS ON BUSINESS.

Jew YORK. Aug. 2s.-There was
hardly any perceptible change in the
character Of the stock market today
The upward movement in the active
stocks inaugurated on Thuraday con-
tined in quiet. but deliberate and
unhesitating manner testifying TO a
steady buying demand far out OF pro
portion to the supply.
Apparently, the main impulse behind
the rise was stilI the undoing OF con-
tracts for the decline recently entered
into. II was again rather conspicuous
that the most substantial advances
occurred in the usual speculative
mediums and activity was not on
scale TO suggest any active participa-
tion by spectators for the rise. Never
theiess the market did display slight
tendency to broaden and issues be
longing to the investment class shared
more freely in the Improvement, and
Il was plain that the rising tide OF
prices had served 10 stimulate the
making of contracts for the rise TO
some extent.
stability of Prices.
when the upward movement halted
the floating supply of stocks did not
appear to he notably enlarged in spite
Of the pronounced gains made in the
past TWO Sessions. ne pSHaNlpT OF
the market at this juncture was CON
sidered strong commentary upon the
stability Of prices. The absence OF
important reactions has been the most
striking feature of the rise from the
low levels in June Practically at all
times the market showed an ability to
absorb what proft taking there was
without noteworthy setback. That
feature seemed to be again presented
r.
duh at the top.
IT, the situation az regarding Mexico.
showed no definite change of front,
II undeniabfe that whatever anx-
jety has been felt on that score In the
financial district has greatly lessened.
a vigorous rise In American Smelling
and Refining at least reflected the
views of the speculative element and
frmer market for Mexican securities
in London was ascribed to the same
cause
But while the Mexican difficulties
have been first In the minds OF the rank
and lie of professional and semi pro-
fsssional spectators and have hence
been responsible for current ffuctua-
tons the most potent factor for stabil-
ify in security prices has been the ac-
cumulating evidence of n complete sue
cess Of the Southern Pacific stock of
fering. Nothing tangible has de-
veloped 10 show exactly how large the
public subscription to the certificates
will be, but a very sharp rise In the
price OF the rights on the eve
Of the expiration OF the privilege would
on Its face at least Indicate "A very
heavy participation.
Bond Market Ffrmer.
The general bond market was con-
siderably ffrmer, the various New York
city Issues being especially notable
Abroad the extraordinary advance In
the French rentes continued. More at
tention Is beginning to be paid to these
and other evidences OF progressive i'm
provement In investment conditions
The weekly trade journals reported
somewhat more irregularity In bust
ness probably rejecting Indications of
reduced crop yield. but at the same
time asserted that trade is equal to or
In excess of that at this time a year
ago.
The reported movements OF currency
during the week pointed to a moderate
loss in cash by the local banks in to-
morrow's bank statement, this being
on account of the drain through the
subtreasury to interior points Another
$500 600 gold was shipped to Canada,
making sl.5oo.000 taken thus far this
week.