The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-11-16
PRICES FLUCTUATE
ON SMALL BUSINESS
CONTINUATION OF DIZZINESS Ma
TURAL WITH FIRM IN
DERToNE.
CLEARINGS ARE LARGE
vTATEMENr SHOWS INCREASE To
HAVE BEEN LARGER THAN
ExPECTEU--TAt1E MORE
HOPEFII VIEW,

NEW YORK, Nov. 1s.-The volume
Il business done on the stock ex-
change today was altogether too
small to lend any broad significance
10 the fluctuations lu prices Tho con-
mutation Of dizziness was natural,
Especially in view Of the undoubtedly
strong attra -tioU 20 Tire professional
element furnished by the inter-col-
ter!ate hootbaN games
The generally firm andertone dis
played throughout the weeks re-
r0very was undimirlShed, despite an
exhibition Of renewed weakness in
New Haven stock. which declined to
new record. and also IN Missouri
Pacific, which touched the lowest price
In fifteen years.
Whatever the real character Of the
selling Of Missouri Pacific, The decline
tn that stock did NOT appear 10 ex-
er-ise an unfavorabie inhrcnce upon
sentiment Weakness in New Haven
has long ago become isolated by the
general recognition Of the peculiar
conditions responsible for Ii
Strength of the Few
Strength IN a few specialiaes,
notably the Central Leather shares,
was again prominent feature, and
continuation Of the recovery In Penn
sylvanla stock was construed favor
ssffEF. - A'4tflF0iit "A . FeF1 4tA saw tt4A~
exchange rates tn an unusually active
market for Saturday was the really
important development Of the day.
This was considered entirely natural in
the light Of the greatly strengthened
banking position at this center, as
result Of the recent inflow Of cash,
The stateHre nt Of the clearing house
institutions showed that the increase
I'm cash holdings during tho week had
l. l.. = lob .e-4 v,y=
urinary estimates. amounting to sl2,-
a07 900 in the actual figures. This
WITS about s2,0G0,0 600 more than the
reported movements indicated.
About the most saliont feature of
the past week In Wall Street was the
disposition manifested 10 take Il little
more hopeful view OF possi bjlities and
To express "a very modest improve
ment Of sentiment in some degree OF
stock market hrmness
Technical Position Strong.
Apparently the technical position of
stocks Is strong enough to lend itself
from time to time to constructive ef-
forts even though these are character
ICED chiefly by the application or
speculative pressure on the short in
terest for the purpose OF forcing some
retirement Of bearish contracts, The
market has remained ultra profess
sional, despite indications OF tenta-
tive and very moderate Investment puf-
chase selection of corporate shares
conducted in q very selectlve fashion.
and il L. doubtful II more can he said
of the list than it reflects tho large eX-
tent to which prices have discounted
unfavorabla factors.
Apparently the most substantial in
fuence for a better turn In sentiment
was communicated from abroad. EN-
ceIlent returns by the leading centrh
banks Of Europe, even though tho
strengthening OF foreign banking con.
ditions owing largely to the liquida-
ton OF financial and business values
and commitments. are sign that the
money markets are working towarc
eventual relaxation which may enable
n large quantity OF Indispensable anc
imperative financing 20 be accomplish
ed ia the next few months. In thi'
regard the tokens OF q gratifying sue
cess awaiting the issue Of n French
government lean Of $500. 900 o0Q, were
especially encouraging abroad because
OF the implication that cash woult
begin 10 move more freely into ant
through the European tinancia
ccrtcIs.-
Mexico Zig Factor.
Mexican affairs become more OF {
Wall Street factor than they had been
one reason being the uClthatloh ."
Furope 70 endorse the Washington
noIiey In SO far as "A policy has beer
outlined. An early removal OF tn
Mexican situation from the field Q
attention might provide temporarily
some impulses to Wall Street opti
missn. although this matter mas no
been clearly responsible for depf@s
sion of the stock market.
The United States steel corporation
reported a decrease Of 4qo,ofs tons !,
untitled orders during October COR
per metal fell to Is IA cents n pount
with no development Of demand nj I'M
decline. The coontiy's bank clearing
for the week decreased nore thar
eleven per cent in comparison witt
IN corresponding week last year. ant
in continuation ct TIE shrinkage which
has been shown all through the au
tnmn. General business In aecltnlrI
syor ~, ~afal lines but read weakness
10 shown chiefly in the metal trade.