The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-12
STOCKS CLOSE At
1 NEW LOW LEVEL
TRADING 4c-FTvE ron SATURDAY..
LARGEST VOLUME COMING
FIRST Hour
-----~----~----
MAKES UNE A SINE 5 5
.TroRNFy GENERALS SUIT
AGAINST SOUTHERN PACIFIC
HELPS NsErrLEWENT ALoNG.
CAL LMoNEX ADVANCES
MAKES UNEASINES SIS

NEW YORK. oct ii.--AlthouEh
4ho market had been declining all the
week stocks closed today al new low
7, wells. Trading was very active Tor d
S..urdav. au especially large volume
- AnstreRs being transacted ~ tHs
e.. SSour which was the perl"d 'A
y.,,,e, r4,-erauucctl weakness.
an tnn display Of slight hara'hihs
4.naencieA The dealings tell OF. va
vraSselre veSaa renewed towards We
"a ~ th.,% sesSS3fna " zen new i""
a,,.n,s v.nrf. reached ia various diFt%-
4sous. ard SHARES, whNh haa So
3,fle lost 4 least ali OF fheF S7"',
-r1sere seemed re he somei hing NOR
..ar sbar+ covering ia she conduct u
5r,,,rrl,aSss. hut the prese nee ~ h"Ni'E
- s,,yr,n.-t orr because decline Wa
as.t,,sr rcera1re. such buying as mikaI
emo from, han king quarters. cou''
a,,t, ba inferred from the re1ath" re
eistance 10 pressure 1'tered ON SUN,
gnanenttaI Issues. United St94eS 0'e,l
sra4 anaIn the niasst Conspicuous S,'".N
4, tbis class Triton Pacific Eeadihh
e. A,,oyea mated Copper ala contri-
Huted 10 the general ottf''"'
anal tone was weak
Suit is No SFrpris%'
THO announcement, that the atter-
ve,,-yar,aral was about 70 sue the
Snuthern Pacific and compel }t I" sen
-, Cyar+ra4 parif}t, did not cnBne as
~,,,,,rssn t,ut coming at the time II
balrnd unsettlemeut along. hsi'
was also an underlying teeHhR 81 ~
xaeinesss. In view Of the @1t"7 et"I'
ahrna3 as 10 what might happen IN
4he financial world over inc "'''''t'
recess next Monday.
90 FGf WG@f S2 NIff'' tt't ;
d, .hat n showed the effectiveness 81
fr-rner money rates in fi@aii'a''nE a
shifting of loans with a coin'loeiil
so.rnase Of deposits which resented IN
savrer3ng reserve requirements ~
ranseas1ence the surplus reserve was
about doubled This waas hroH&i ~
about hy only q moderate AdNaiA'e "a
rau money TO around four per Gem
testimony being thus offered 10 the
existence NJ q substantial le'1olH@ -
r,aritv available at need
Events IL the week did not do mucH
-. brfyfy now factars To the fore, hn'
thev have lent emphasis 10 the con.
filming considerations relating 10 'h'
al IA ILL
.rredit and trade aud industry Foreign
- yafrs have gone rather badly NeN
saruritv issues In London are MAXIM
x,.,r.se records Of failure than In las
?
s,,ra NJ London for gold aud the bah'
~ Fnrland's per cent discount ra''
has been SO Ineffective as 10 lndlca"
4ba Y,rnhabI{ltv II an early fufthc
advance. Tho difficulties OF Sour
American and other countries wnlci
avs heavily indebted to Europe, nave
been reflected In great weakness @
4heir securities in the London mar
ket.
T.. ". Collapse.
The week domestic budget of mar
ketwfse information hardly includes
anvthfnW which was Of opumiFtl'
snarirg linton Pacific shares by
arnn5d collapse precipttated the al
around decline Of the share list. au'
fine fall In rrmion Pacific was account
81 for. by the official announcement
that The compBnys directors had dc
cided not to make any extra distrlbn
+fnn Of stock holders The decision fal
liz apuroved. but the chain or Wal
street. circumstance leadtItg up 10 J
evoked a good deal Of criticism AM
eltoeether the Union PacihF matte
did o1aot help the stock mafheL
The United states steel corpora
tton's tonnage statement exhibited
shrtnkage Of 2la.6s3 tons in unhllc'
orders during September The cop
ner Producers report was once NOR
~ variance with the trend with uthe
lines OF industry, for ~ disclosed turth
er Improvement Ing the statistical po
T.tion 0f copper mex with decreas
of 1881 600 poundstn domestic stock
last month.
The government crop report. pub
Iished on Thursday, Loft he Indicate
barveSts Of corn and Eprlng whea
practically what they 'were estimate
81 -