The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-10-25
OPENING AND CLOSE
Of MARKET ACTIVE
TURNS Dull. but EFFORTS TO
RREAk LIST ENDS IN
RALLY
| EUERTA'S STATEMENT
HIS ELIMINATION FROM PREsIDEN-
TTAL CAMPAIGN HAS EFFECT.
GOVERNMENT sECURI-
TIES RECOVER

NEW YORK. Oct 2i.-Iu market
moderately active early in the day
and towards the close, stocks gave
farther indications of having been
= speculatively sold ont around the
v present price level. Trading N the
y first hour was Of an irregular sort,
sand there was some pressure.
o. 1t soen appeared that declines did
not stimulate offerings, and the
IL market turned duil. Efforts to break
the list ended in a sharp rally, and In
the last hour there was general
n bidding up which LEFT final figures
showing substantial net gains.
vii Leaders iE the afternoon upturn
y were the usual standard shares. with
an Interesting display Of strength in
the Rock Island stocks, and the col
lateral per cent trust bonds, There
were no indications that anything
more than professional operations
controlled the movement OF quoted
values. but efforts on the constructive
side seemed to have the advantage
OF position al least.
NJ New Haven Low.
New Haven sold at rev low
price but rallied with the rest Of the
list. So also did Pennsylvania, con-
corning which the disclosure was Of
fic!ally made that the companys fnan-
by a comprehensive mortgage plan Of
colossal size The projects of railroad
arrangements in this direction are
rather striking at this time, because
of the campaign, which Is being
urged fer higher freight rates.
1t became known during the day
that there had heen n large over
subscription fer the $40. 600 600 Of
Chicago and Northwestern subsidiary
6 per cent bonds offered today The
Hooking Valley was reported as about
to sell 5000 600 Of per cent notes.
y and there was some indefinite talk OF
Atchison financing.
Contributory Matters.
There were two matters which con-
Z trihuted directly to the recovery OF
stocks during the day One was the
speech which Judge Gary made al
Chicago, setting forth tha existing
conditions conducive TO prosperity,
and their offset in the disturbance Of
confidence among the possessors al
capital as a result Of the excessive
radicalism Of good deal of con-
temporary political agitation
Ps Another factor was the news re-
Ssceived in midsession that HueTta had
declared himself out of the RUNNING
-foE-t the Mexacan- presidency The In
clination OF many traders had beer
to get out Of long stocks. or take this
short side over the Mexican election
and this information altered trading
plans. At the same time Wall Stree
4 was not. during the day, in receipt Of
oil the Mexican news showing how
difficult and strained the situation in
voiving Washington policies had be
come.
Foreign Selling.
There WAS foreign selling OF stocks
here. and, while frmness was re-
ported in the Continental markets
securities in London were heavy tc
weak Mexican affairs were serious
~ regarded there. and London finance
did not take kindly to the overdose %
Lloyd -Georgism contained in the pro
jected inquiry looking toward nation
aiizasion of the British railways fol
lowing the publieatin Of the chancel-
1or's land program.
The recovery In government seeuri
ties could he attributed In part e
the f.etter feeling which has spread
around respecting the prospects OF
! currency legislation, but II is alsc
owing to the conviction that the pei
I cents at the recent low figures were
an excellent investment in the good
faith of the government.