The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-06-19
STOCK RECOVERY
CARRIED FURTHER
pnxcr cx1AxoNs sHow A SUD-
sTAs71AI.AvEnA0n OF GAIN
IN VALUES.
HAS EFFECT IN EUROPE
CHANGE roR BETTER HAS Az
FoRDED NEEDED AssIsTANCE--
ILLINOIS CENTRAL STOCK
TAKES DROP.
HAS EFFECT IN EUROPE

NEW YORK, June 16.-Recovery
was carried still further in stocks to-
CAV. Dealings were in moderate vol
rrne only, and price changes, Which
showed very substantial average OF
gain, were out of proportion to the
scale Of transactions This seemed to
emphasize the essential strength OF
the market for IT suggested that
Nqu.dating pressure was not increas-
ing on the advance, but was rather
lending 20 diminish
There is no question that the rally
has encouraged holders OF securities
and Il canvass of the commission
houses disclosed a continuing amount
of moderate investment absorption.
TIE principal buying seems. however,
20 come from bull spectators for the
fail and the shcrt interest in the
market appears still to be Of material
dimensions. Pre- sumahiy II has been
largely at the expense of the bear
position that the rally has manifested
SO much sustained f1rmness.
Broader Business Range.
Another feature of the trading to-
Gay was the broader range OF busi-
ness the Improvement being far
more general than on Tuesday I'LL
nois Central which dropped 70 new
tow price, WAS conspicuous excep-
ton To the rest of the list Leader
ship in recovery was clearly eAerted
by Union Pacific. The tone in the
late trading was good.
An interesting aspect OF the Wall
Street change for the better even II
II should fail to be persistent has
been the evidence that 1t had afford
ed assistance to Europe. Foreign
dispatches recognize the recovery here
as a helpful factor abroad. at Tins
when help was particularly desirable
There has not been much improve
ment in London since the recen
fortnightly settlement, and on tbs
Continent securities have weakened
yet IL Is reasonable to suppose tina
the foreign situation would have beer
worse. bat for the decided upturn III
Wall Street.
As might have been expected. tht
somewhat sensational nature Of tbs
charges made yesterday by Judge
Iovett. OF the Union Pacific, implying
a hold up conspiracy directed at the
management of the company, during
the embarrassment caused by The
necessity of separating from the
Southern Pacific. provoked much dis
cuasaon. The familiarity or the
financial district with schemes oil
blackmailers led to ready recognition
of the necessity for Judge Loyetrs
declaration. but more concern wa'
shown in the possible effect which hi
statement might have on the status O
the company's dissolution pians.
McReynolds Vague.
Some vague remarks by Attorne.
General McReynolds failed TO SHOW
whether or not he would eventual.
approve the proposal for an exchang'
OF Baltimore and Ohio and Southern
Pacific shares.
Nevertheless, there is notion II
wall Street that Washington is no
likely to supply factors of fresl
financial disturbance in the near III
ture.
Increased purchasing OF commercial
paper at minimum of per cen
was the feature OF the money market
Crop news was not altogether good
but the agricultural markets did no
develop any disconcerting strength.