The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-09-15
.N.Y.Sun 5 Weekly
Financial Review

NEW YORK. espf 1.-THE Suns
weekly review OF the financial situation
tomorrow viii say
swhile the situation OF business and
finance does not warrant enthusiastic
rveparations for period OF expanding
values. IT does Justify a. conservative
degree Of hopeful equaninaity regard
ing the near future Of trade. and in
fustry. where values are sustained as
weu as created Probably the best in
formed observers would not care to-
day 20 try TO look further ahead than
tfe turn OF the year. and there seems
II be reason for believing that econ
oy,aic enterprise is likely to exhibit
reore features of strength than Of
weakness In that time The fact that
Ass worlds money market has not
fundamentally righted itself, and the
failure Of evidence to appear that cap
itai ard credits have been recruited
suTicierrlv to meet probable. as well
as POSSIBLE demands qualify all cal
citations on this score. So also has
n TO De kept in mind that politics.
dom este and International, are still in
an unsettlire phase, that the world 3
trade is displaying tendencies toward
contraction which may foreshadow
some wide depression and that the
consequence Of agricultural deficiency
have to be reckoned with. Neverthe-
less conditions. compared with those
which obtained year ago, or even
three months ago, are, with the eX-
Septiou Of the state Of crops at home
80 much less distnr hing and unccr~
tain that efforts TO do business in the
various way in which the world makes
n living are likely TO experience some
freedom from restraint at a time ~
the year when the trend of trade and
&c svNtta14v q TE n broad d.
eninE forw arduesa
The worst political factors, thoee In
volved in the Te-opeufng OF tho near
eastern question in Europe hav" not
been eliminated. but there are no such
alarming signs Of trouble visible as
in September, last. The surface ~ the
money market is placid enough 10 pre-
vent immediate uneasiness In the
banking and business community. and
a modest degree Of assurance against
acute sirinReney has been provided by
the financial endeavors eff the FIRST half
OF the year to ltquidate credits and
force capital demands "a hold them
selves In allegiance while central gold
reserves in Europe the financial storm
center were being built up.
To what extent the Wall street ST.
curitics market is a barometer Of gen
eral significance is always debatehle,
a protracted serfes If months. or years.
At the same time its or4ens have late
II been more favorable than otherwise
s~ a guide 70 the business outlook, II
prophetic character attaches 10 the re-
cent and Immediate movement of
quoted values. the business situation is
likely TO be marked by Improvement In
tho months Immediately ahead. De-
spite the selling attracted by tho ma
terial rally Of stocks during the sum.
rner the Wall street share list has this
month made further rer@very and last
week when the September crop report
was out Of the way prices rose quite
sharply on Increased trading under the
leadership OF Union Pacific. which was
heavily bought on the prevalent un-
derstandinK that an extra distribution
TO its holders would be made out Of
the proceeds OF the Southern Pacific
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