The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-01-26
RISE IN market
" DOES 81 moi Gf Go FAR
Amounts to Little More Than
Exhibition of Greater
Steadiness.
VERY FEW DEVELOPMENTS
Wall Street Is Pleased With
Testimony Before Pujo
Committee.
ESPECIAL 20 The Times-Dispatch. }

Especial 20 The Times-Dispatch)
New York. January IA rrst-rate
impression was caused in the financial
district by the testimony at the money
trust Investigation given in Washing
ton late yesterday afternoon by so
many prominent members OF the iocai
banking community.
The strength of the stock market
throughout the day was undoubtedly
due to this cause, although under mar
ket conditions like those of the pres
emit spectators decline usually TO IN
dulge for purely general reasons In
towering" movement on the last Gay
of the week. The rise in the market
did not go very far. and really amount
ID to no moro than the exhibition OF
somewhat greater steadiness. There
we're declines in a few special Stocks,
mostly OF the inactive class, such as
Weils-Fargo and Wooiworth. There
were no foreign Developments OF any
note Sterling exchange was a httie
easier and the Atchison's Decefnper
earnings statement was good. showing
an Increase of 81. ri 900 in groes and $751;
600 in net.
The figures OF tho bank returns
were, in the main. in smaller ngures
than has lately been the case. Ine
increase in cash was less. as IL wes
known 10 would be. but there was also
a corresponding decrease in BANK
loans. owing to a letting up in the pro-
cess OF shifting loans from out-of-
town banks and those represented IN the
clearing house. Theresuit was an In
crease OF a little less than u.Sce.ooo In
the average surplus and of $4,000 IN the
actual returns. In other words. the
bank condition held it's own During
the last week interest converged on
Mr.. Corcy'e testimony as TO the United
6ArnAr1finn and UDOn
President Elect Wilson's new trust
Law proposals for New Jersey ana
upon the very heavy exports OF gold
and finally upon the sensational de-
yeiopments in Turkey. Yet none OF
these served TO cause any agitation III
the stock market. and the market re-
manned. in fact. upon d sort OF a dead
iercl IL showed many indications of
a iiuuidated and oversold condition.
and IL general financial confidence
was In a stronger state the presume
&.on is fair that prices would have raj
lied considerably. AS II was. there was
q sharp recovery on Monday. wnen
the Wilson trust bills were puplisneo'
the general idea being that the new
measures were not SO very drastic
after all. and differed but little from
those that are already laws in many
ST. ties
Tn Balkan situation and the gold
exports were directly related When
the Balkan difficulty is all over. ana not
before. Will the boarded gold in France.
Germany and other parts OF Europe
be released for public use Onth This
happens there will be more or less OF q
state of financial strain in Europe. ana
there will not be an urgent need TOT
ali the gold we can spare Up 10 the
nresent time the abundance of money
here has been SO great that people IN
the financial district have regarded the
large gold shipments since the nrs' OF
the year as almost entirely acaoeH', ~.
They will not. of course. continue TO
iook at the matter in this way II the
shipments should be % great as 70
cause a stifYening on money rates as
for general mercantile business 'nis
week IL was rather more irregular.