The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-04-20
MARKET DULL AND
BUT FEY CHANGES
BANK STATEMENT MATCHES IN
Dictated IMPROVEMENT IN
MONEY MARKET.
APATHY BY BUYERS
QUOTATIONS IN THE INVESTMENT
MARKET ARE ABOUT THE
LOWEST At THE END
OF WEEK.


NEW YORK, April 19.-Another
.ncnpraxiuR bank statement today
matched the better circumstances
which had been indicated IN tne
weeks money market. A supsAAh' va,
decrease in liabilities ana 49, 49,
@aah eain. carried surplus TeseFNeS
,,r a Ist. GOO. TO more than $lS'VVe.-
nnn ard the surplus renamed ~
cloaa proximity to the margin ifbss
veaw AT this time. The stock MA
he; was extremely duh, with inns
ys~fga changes. Its features, II II HaH
anv ware unchanged, apathy On tue
h,trlng side and the same nara W.
baritone. which had prevented A'l' 'tst
from deserving to be ealiea NJ ~
AT the reaction so tar TINS H5NNtti.
Sta.~ks have now lost fuzzy mall
.retr recovery from the depressed
3,~aY ~ ov4ces reached last mGfAh'
-~sa market has declined "iNhp0S
h~aakfng. and without consPicuous
yraakness. and has been doll on ,lIe
u,nnte instead of active -.
has been more conspicuous then 80
ncrt hut II has been the absetiIe -
huyers which has been ch1ehS
srnnsibIe for the movement on Quo'Ss
,ta1raa The readtustment OF poha
r~scau IN the new conditions ind3cAIeo
-, fha nrice Of capital IN ne" II
nsrcine operations has gone on per
ststantlv. aud quotations i'll the "a.
san,raant market wea. about the
lowest at the week end
Two Main Events.
The two main events OF ta0 NJ,
noarketwise were the Feaut'ip't ~, - 80
narE ~ rneland's discount rate from
rar cent to IL per cent ana Inc
announcement that public subsef1p-
~. had taken only little more
shav tw.o-4hirds of the Chicago, M}t
nra.,taa and st. Paul railways $9o'
nan Gao Offering Of IL per ceht mrs.
mortgage bonds 10 yield the fali ~
faresf return The lowering OF w ,
London bank rate. was ohiy ol - 20,
n15.son of material relaxation
of money at many hHdi'N'e~A
all over the world. -.
IN Wall street time money mas -
osyering Ia per cent down IRON
the terms on which II was oplai,ta,
bla few weeks ago, and oeCtIhs
of ! o d per cent has taken piace
In commercial paper. ofeash a.
change has fallen l 3-4 cents 1oI "
aand sterling from the maximum
49,, r1,Ied when we were recent
" vi the height of gold shipments.
Further Reduction Expected
A further reduction OF of1ciat als'
counts abroad liz expected. out the, , !
il no belief In the banking Wof~
that anything like easy conoltl"i, !.
In money will prevail unless Fnefe -
srraat shrinkage Of demand for &C
aomnodation, and no such oontraac
t,on is in sight. The market Io'
credits " in a much better shape
temporarily at least than the naaFRe
for permanent capital ,x-..tor
some Of the weeks informatiof
rave additional confederation q
views that trade and Industry "nn'
stin characterized by much actlVleg
ha dbegun to lose forward brlskhe ta,
Weakening Of Dig IRON piI'99 81 st'a
bacnrne general. but copper meta
has displayed sustained strength a !,
a recovery Of IS "a cents poa9 eei
Signs Of softneas in the market 10
agricultural staples may De aSsfi 'ti,
"a The fact that much money IS SUI
lied IN in last years crops an
money is needed for current puF
noses.