The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-12-25
CHRISTMAS EVE ON
STOCK EXCHANGE
tELnOM HAS WALL STREET HAD
ONE OF SUCH BUOY
ANCY.
AT RISING PRICE S
INSTEAD or USUAL ANTT-HoLTDAH
DIZZINESS AND REACTION
THERE WAS INCREASING
ANIMATION.

NEW YORK. Dec. 24-Scldom has
WAL Street had Christmas eve STOCK
market of rs much buosanr~ and
Strength as that which closed t0niE at
with substantial Frueral further gains
On an expanded Volume of dealings
The session had been commonly ap.
preached with expectations OF he
usual ante-he8aay t-AGinS. hut in
stead % aAl3ness ard reaction there
Was .rcr@asseE animation at rising
Prices Tne forenoon was period "a.
more o. lass Ercer:a snts with bust
r&sx 9Gtet hLF ~ the afternoon the
rsasrset movement h4carTts broad and
bfssg EeaE5re @sx easily The lead
ms sexgurs q he gay. bat "a as strong
aaEraatea Ccqrer- U0sted states STEEL
leAigh Valley and o&her .nalea tiaI
shares,
Change Of View.
IL was manifest en- even & mere
STRIKING, degree that in the last week
or no The market has ceas q to be de-
pendent On the efforta al ultra
professional traders and taal widen
.ng partici patton Of public char
acter has been attracted 80 the con
strpctiye side Of quoted values by the
fayora Bile Developments. chiefly in the
political category,
1t is apparent that the country hns
received opunisticaly tbs statement
OF fha banking and currency law and
Wall Street has. II. addition. Interpret
ed most hopefully the adm niStration'
attitude towards large scale curPor-
attons. both railroad and Industrial
which seek = adjust their 5FGanxaung
and conduct 10 the terms cf the in
terstate commerce laws as they have
been defined and applied by the
courts.
The financial district was flied with
rumors that peaceful reaIrauge men
of enterprise might be effected by the
Reading company, the United States
Steel corporation, The international
Harvester company and other con-
Germs which have heou tho subject OF
governmental inquiry and. proseeu.
ten.
May sell Y. & w. stock.
Norfolk aid Western WAS conspicu
ous because Of reports thai the Penn.
sylvania railroad was likely TO part
with Its interest, but 1t vas not
obvious what line Of argument war
ranted a decline in the Norfolk ana
Western shares. For the most part
he at! Etrttt-e4--tt -stere.t7i1ie t-yrr-fz
promises OF government litiga ton wa
that the outcnmes would be salts.
factory to the owners of tho corpora
tions involved.
The fact that the president did not
announce any recess appointments q
BE federal reserve BOARD W: optim-
= E4Asnally construed "a indicating his
1prec!ation Of the gravity II the taSk
ahieh cnnfrnnts him in mailing proper
selections OF the men wht are 10 man.
age the new banking and currency
system.
Foreign Advices.
Foreign adviees were of no OBVIOUS
significance, but the Londs.n stocE
market had "a cheerful tendency witt
consols risirg sharply on what might
he nothing mere than window dressiu @
operations. Domestic news Ms mora
or less a continuation OF information
about the depression in general bust
mass.
The weekly reviews Of the iron and
steel trade reported that the holi-
day shut down was Of record breaking
proportions in the number Of plants
closed and the length " the sus-
pension. November reports Of rail-
road earnings made wrctchcd ex-
hfbits. The Southern Pacific lost
$4,000 gross and s54S 600 net
The idle freight car report as Of
December 18th showed how rapidly
trade contraction Yves proceeding, for
IN the FIRST half of the month the
months net surplus Of equipment in
creased to a total of l01, 645 cars.
Money conditions were unchanged
with no signs OF any distributing
tightness in prospect as the end al
the year approached Furthermore
foreign exchange was rather weak
demand sterling selling below $4,-
s6.is. An interesting phase Of the
day in securities was the marked I'm
prUvement In bonds both as regards
prices and activity,