The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-03-19
BUSINESS IS SMALL,
GREATLY CONFINED
APPROACHING THREE DAYS HALL
DAY CAUSES CESSATION or
FOREIGN BUSINESS.
IjNDERTONE IS HEAVY
PARIS ENGAGES FOUR MILLION IN
GoL3 BARs--cALL MANY rs
LowER--sUBTREAS
TAKES s7,eoo.oo0.
JNDERTONE IS HEAVY

NEW YORK. March 1s.-Business
en- the stock exchange today sunk TO
small volume and was confined
HithIn narrow limits, as regards
srices. Trading was, of course. the
more restricted by knowledge that
ne stock exchange would be closed
9or three GAYS beginning with Friday;
nd during this period the cessation
Il foreign business Will be more pro
bounced IN Europe than II is here
There -yas almost entire absence OF
disposition on the part OF specula-
ars to make ventures Of any kind
and operations here for London &C
cunt were wholly negligible.
The undertone Of the market was
heavy throughout. and toward the end
vas definitely weak. The standard
stccks held very well although all
~, of AZ declines. but there was
mother break In many of the mac
i've industrial shares in which de"
lining movement fas been going on
gor SO long, and has in fact. In Ger"
t4tn stocks. brought about species
~ collapse
Rubber Shows Strength.
American Beet Sugar, Information
Al Pump preferred, Goodrich COM
mon, Mexican Petroleum, Pittsourg
coal. wooIworth and Central Leath-
- preferred were all pressed for sale
today, which perhaps served TO make
more prominent the comparative
strength shown by the United States
Rubber shares The 1rmness Of
Reading common stock also attracted
general attention. AS IL has for some
time past. and gave rise TO the opin
ion on the part OF many observers
that an accumulation cf the stock Is
in progress at The present low range
OF prices
In our own market. and in that Of
Boston. what have come TO be called
the Me}len stocks moved to lower
level Ia the bond market Western
Paslfic fves were again 8 weak fea-
lure, supposedly to the closing Of the
prospect that has iatterIy been held
out that the Western Pacific might
obtain the use in California Of lines
which the Western Pacific was not
able te construct itself just before
abe end If the day there was "a raid
on the market which carried Union
Pacific stock TO a new low level for
the year
More Gold Exports.
-Four million dollars in gold bars
was engaged for export TO Paris by
Thursdays steamer. making nearly
s46, 600, 600 taken for export altogeth-
~er since the first week in January.
Sterling exchange was slightly easier,
and also, strange TO say, there WAS a
greater ease In time money. rates be-
ing reduced about one-fourth of one
per cent for the long periods. Ease
in money was attributed to the most
imminent of Western funds here at
traeted by the current high price
bid for accommodation.
Cali money was also lower, and, al
though, The banks have lost over 81,
o0o,o0o thus far TO the subtreasury in
the present week, and seemingly
stand TO lose considerably more be-
fore the week ends. the prognosis
of the bank statement is evidently not
very bad People In the sterling mar
ket confessed themselves pleased over
the fact that Germany did not take
any gold here for export on Monday
although direct shipping facilities ex-
listed. and this was taken as some
small indication that the situation ir
Germany was nending.